18 Mar 2025
Running a self-storage business is a learning curve, and if you're like me, you probably threw money at a few things thinking they were necessary—only to realize later they were just burning a hole in your operating budget.
Over the years, I’ve cut out several expenses that I once thought were essential but turned out to be money pits. Now, my business is leaner, more efficient, and (most importantly) more profitable. Here are five things I used to waste money on—but don’t anymore.
Once upon a time, I thought a big, flashy ad in the newspaper or a local magazine would drive customers to my facility in droves. Spoiler alert: it didn’t. I quickly realized that print ads are expensive, tough to track, and have little impact compared to digital marketing.
What works better? Google Ads, Facebook targeting, and optimizing my Google Business Profile. If I want to be seen, I focus on where people are actually looking—online. A well-placed Facebook boost in my local market gets me way more leads than an overpriced magazine spread ever did.
In my early days, I thought, “Why spend extra on high-quality locks? Customers will bring their own.” Well, guess what? Customers bring whatever they can find, and that often means cheap locks that are easy to cut. That led to break-ins, insurance claims, and angry customers.
Now, I only stock and sell disc locks—the ones that are nearly impossible to cut with bolt cutters. Not only does this cut down on theft, but it also makes me money because customers will buy the better lock if you educate them on why they need it.
At one point, I thought having multiple employees covering the facility at all times meant better service. The truth? It just meant unnecessary payroll expenses.
I now focus on hiring one rockstar manager who actually knows how to sell, upsell, and maintain the facility. If I need extra hands, I bring in part-time help or use automation (think kiosk and online rentals). Technology has changed the game, and smart staffing is key to a profitable operation.
But it wasn’t just having too many people on payroll—it was also being open for too many hours. I used to think being open at 7 AM or staying open all day on Sunday was a great idea. Then I looked at the data:
Now, my hours actually match customer demand, and I’m not wasting payroll on dead time.
Early on, I got caught up in making my facility the “fanciest” one in town—spending money on unnecessary extras that didn’t actually help occupancy or revenue.
I’ve learned that customers care about security, cleanliness, and ease of access way more than luxury touches. Things I wasted money on?
Unnecessary Facility Add-Ons (That No One Uses)-A conference room? Picnic Tables? I once thought these would be value-adds, but the truth is—no one uses them. People rent storage to store things, not to hang out.
Overly Complicated Security Systems-You need great security, but you don’t need high-end facial recognition software or overly complex AI surveillance. A well-lit property, quality cameras, and strong gate access controls will do the job without breaking the bank.
Buying custom-branded swag like T-shirts and mugs that no one really wanted.
Too Many Payment Options-You don’t need checks, Venmo, Zelle, PayPal, Apple Pay, Google Pay, and a barter system. Just stick to cash, credit cards and autopay—it simplifies bookkeeping and eliminates payment hassles.
Now, I focus on what actually makes customers rent—well-lit hallways, high-security features, and a smooth rental process.
Early on, I thought move-in specials were the key to filling units. “First month free!” “$1 move-in!” I was basically giving space away.
The problem? These deals attract short-term tenants who move out as soon as the real rate kicks in. Worse, they eat up my unit availability without contributing to long-term revenue. Now, I focus on value-based pricing, excellent service, and small incentives (like a free lock) rather than deep discounts. My occupancy is healthier, and my bottom line is stronger.
Running a self-storage business is all about learning what truly drives profit and what just eats away at your margins. I’ve wasted money on print ads, cheap locks, overstaffing, too many operating hours, unnecessary bells & whistles, and deep discounts that hurt more than they helped.
Now? I focus on smart marketing, better security, efficient staffing, practical facility maintenance, and sustainable pricing strategies. And you know what? Business is better than ever.
So, if you’re making some of these same mistakes—cut them out now. Your budget (and your sanity) will thank you.
At Storage Authority Franchise we are a leading provider of comprehensive solutions for self-storage development and operations. With a focus on excellence and profitability, we empower franchise owners to achieve elite status in the industry as an alternative to consultants and 3rd party management. Our proven systems, expert guidance, and unrivaled support help self-storage facilities thrive and surpass all expectations. If you are thinking about self-storage you owe it to yourself to contact Kevin Harless at Kevin@storageauthority.com to learn more about the Storage Authority Franchise opportunity.
