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Positioning for the Future Michael T. Scanlon, Jr. President & CEO. SSA Polling Survey: SSA does owner-operator polling twice each year We survey SSA members and non-members alike We use these surveys to keep current with trends in the marketplace

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Positioning for the Future

Michael T. Scanlon, Jr.

President & CEO

slide2

SSA Polling Survey:

  • SSA does owner-operator polling twice each year
  • We survey SSA members and non-members alike
  • We use these surveys to keep current with trends in the marketplace
  • We use these data to develop educational programs and convention session topics
  • We targeted this particular survey toward the future, in line with our Fall Convention theme of “Positioning for the Future”
  • This particular survey was conducted August 4, 2011
  • Surveyed 400 self storage owner-operators
  • Margin of error is less than 5%
ssa industry survey
SSA Industry Survey
  • In what region of the country to you own / operate self storage facilities?
      • Northeast 17.3%
      • Mid-Atlantic 5.3%
      • South 25.3%
      • Midwest 31.8%
      • West 17.5%
how long has your company been in operation
How Long Has Your CompanyBeen in Operation?
  • Years in service:
    • Less than 5 years 7.8%
    • 6–10 years 24.5%
    • 11-15 years 20.8%
    • 16 or more years 43.3%
how many facilities do you own operate and or manage
How Many Facilities Do YouOwn, Operate and/or Manage?
  • Number of facilities:
    • One facility 63.5%
    • 2-9 facilities 23.8%
    • 10-24 facilities 2.5%
    • 25 or more 9.3%
physical occupancy trend over trailing 12 months
Physical Occupancy TrendOver Trailing 12 Months?
  • Occupancy:
    • Occupancy INCREASED 29.5%
    • Occupancy DECREASED 18.5%
    • Stayed the same 49.3%
    • Not Sure/Refused/Other 2.8%
  • NOTES: 41.1% of those with 2-9 facilities showed an increase; 40% of those with 10-24 facilities also showed an increase.
have you raised rents on existing tenants in previous 6 months
Have You Raised Rents on ExistingTenants in Previous 6 Months?
  • Raised Rents?
    • NO 83.5%
    • Yes, less than 2% 3.8%
    • Yes, 2% to 5% 7.5%
    • Yes, greater than 5% 2.8%
    • Not sure/Refused/Other 2.6%
  • NOTES: 85.8% of those with 1 facility did not increase rents; 20% of those with 10-24 facilities DID increase rents by 2-5%
growth via acquisition development or 3 rd party management
Growth via Acquisition, Development or 3rd Party Management?
  • In the next 10 years, how many facilities do you think you will add to your current total (via 3rd party management, acquisition or development)?
    • Will not add any more 68.0%
    • Will own/operate FEWER 1.0%
    • Will add 1-4 more facilities 11.5%
    • Will add 5-10 more facilities 0.5%
    • Will add more than 10 facilities 2.3%
  • NOTES: 22.1% of those with 2-9 facilities will add 1-4 facilities; 8.7% of those with 1 facility will add 1-4 facilities in the next 10 years
development
Development
  • Do you plan to develop a new ground-up facility in the next 24 months?
    • YES 5.5%
    • NO 85.3%
    • Unsure/Other 9.3%
  • NOTE: 6.3% of those with 2-9 facilities plan a ground-up development in the next two years.
expansion
Expansion
  • Do you plan to expand a current facility in the next 24 months?
    • YES 15.3%
    • NO 73.5%
    • Unsure/Other 11.3%
  • NOTE: 24.2% of those with 2-9 facilities plan to expand a facility in the next two years.
acquisition
Acquisition
  • Do you plan to acquire an additional facility in the next 24 months?
    • YES 7.3%
    • NO 80.5%
    • Unsure/Other 12.3%
  • NOTES: 16.2% of those firms with 25 or more facilities plan to acquire in the next 24 months; 10.5% of those with 2-9 facilities will do the same.
third party management
Third Party Management
  • Is/are your facility(ies) currently managed by a third party?
    • YES 5.0%
    • NO 87.3%
    • Unsure/Other 5.3%
  • NOTES: Only 3.1% of 1 facility owners use a 3rd party management firm; 7.4% of 2-9 facilities owners do.
future 3 rd party management
Future 3rd Party Management
  • In the next 10 years do you think you might have another company (3rd party) manage one or more of your current facilities?
    • YES 3.3%
    • NO 78.3%
    • Unsure/Other 13.5%
yellow pages vs internet web site
Yellow Pages vs. Internet/Web site
  • What percentage of your new customers come to you via the Yellow Pages vs. the Internet / Web site?
                  • Yellow Pages Internet/Web
    • Less than 10% 35.8% 41.8%
    • 10-20% 10.3% 12.8%
    • 21-40% 10.0% 12.0%
    • 41-60% 12.5% 7.3%
    • 61-80% 4.0% 3.5%
    • More than 80% 3.8% 2.3%
    • Unsure/Other 23.8% 20.5%
social networking
Social Networking
  • Which of the following social networks do you use to promote your business?
    • Google 51.1%
    • Facebook 25.3%
    • YouTube 3.8%
    • Linked-In 7.1%
    • Twitter 8.2%
    • MySpace 4.4%
  • NOTE: Smaller firms tend to use Google more than larger firms.
social networking budgets
Social Networking Budgets
  • How much of your total marketing budget do you spend/expect to spend on social networking today vs. 10 years from now?
                  • Today In 10 years
    • Less than 10% 71.3% 53.0%
    • 10-25% 3.8% 6.8%
    • 26-50% 1.3% 2.5%
    • 51-75% 0.5% 2.0%
    • 76-100% 0.3% 0.5%
size of the entire industry
Size of the Entire Industry
  • In the future do you expect that the self storage industry will:
    • Contract in size/be smaller 7.3%
    • Be about the same size 29.8%
    • Will grow by 10% in 10 years 38.0%
    • Will grow 20% or more in 10 years 10.3%
    • Unsure/other 14.8%
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Debt
  • Are you currently re-financing debt?
    • YES 5.8%
    • NO 80.0%
    • Unsure/Other 14.3%
  • NOTES: 5.1% of 1 facility firms are in a re-fi; 9.5% of 2-9 facility firms are in a re-fi.
extended modified a loan
Extended / Modified a Loan?
  • Have you extended or modified an existing loan in the past 12 months?
    • NO 73.0%
    • YES, modified 8.8%
    • YES, extended 1.8%
    • Unsure/Other 16.6%
  • NOTE: Roughly 18% of firms with 2-9 facilities are modifying or extending a loan.
raising capital equity
Raising Capital/Equity?
  • Are you actively raising third-party capital or equity for new acquisition?
    • YES 4.3%
    • NO 77.0%
    • Unsure/Other 18.8%
  • NOTES: 2.8% of one facility firms are raising funds; 9.5% of 2-9 facility firm are too.
business attitude
Business Attitude
  • Which of the following statements best describes your business attitude?
    • Very positive about the future of my business 54.0%
    • Somewhat positive 28.5%
    • Not sure about the future of my business 10.8%
    • Somewhat negative 2.0%
    • Very negative about the future 1.0%
    • Unsure/Other 3.8%

NOTE: The above percentages are consistent no matter the size of the company.

thank you
Thank You.
  • You can download these slides from the SSA Web site upon your return home. Go to:

www.selfstorage.org

Right hand column under “Public Information”