Wayne joined StorMan Software in 2007 and is the Vice President of Sales and Marketing in the USA.
Title: How to substantially reduce the number of delinquent tenants
Date: 23rd July, 2008
Question: What is more profitable than a storage business with sophisticated management software and state of the art access control?
Answer: A storage business, even (especially) one with a small turnover, where these systems can talk to each other. Let me explain by relating the following (true) anecdote to you...
When I visited this particular site on Monday morning the new owner introduced me to his lovely Manager. His Manager explained all of the systems, checks, and procedures they have in place to make the business profitable. I decided the Manager’s systems had some possible gaps, but it seemed from the way they were speaking with me that these gaps were not a problem. To be honest, I was struggling to find a reason to recommend StorMan. And I said as much. Then the new owner, as if to escort me back to my car, stepped outside and I followed him.
Out of earshot of his Manager the new owner explained that this small business sold $150,000 worth of storage per annum. He said that over the past 12 months the bad debts incurred by the business from delinquent tenants was $26,000.00!!! Then he asked me what I suggested he do.
This changed things considerably. It became palpable that, although the Manager was very lovely and probably great with the majority of the company’s honest customers, their checks and systems were not actually working. And I could see why. These systems relied heavily on the goodwill of staff and customers. The fact was, only the staff had the ability to stop delinquent tenants from entering the premises. Whilst they did their best, the evident gaps were worth at least $26,000.00 of the annual turnover.
My recommendation was that the new owner purchase StorMan and a compatible access control system immediately. That way, the numbers of delinquent tenants are substantially reduced, and those that are left are locked out at the gate and simply referred to my new customer’s competition.
Wayne R.
Vice President Sales and Marketing, StorMan USA
Other posts by this author...
|
|
