The most important aspect of selling retail is having a plan to do so. Carrying retail merchandise without a plan and a lack of commitment to sell products can cause the facility more harm than good. Facilities without a retail plan tend to look dreary, disorganized and unclean. This is also a missed opportunity to demonstrate professionalism and differentiate your business from the competition. However, the benefits of a structured retail plan can enhance the entire apearance of a self storage business. This makes a great first impression when potential tenants walk in the door. Organized retail displays can quickly put the customer at ease. The sooner you can make them comfortable, the better your chances of leasing them a unit and selling other products and services.
The most common objection from store owners with respect to selling retail merchandise programs is that they say they simply don’t sell enough retail. Is it because self storage tenants don’t have a need, or is it because the facility isn’t committed to retail success? The fact is lack of commitment to this component of the business is a very common excuse for lack of retail sales.
Merchandise must be incorporated into the lease process. Once the customer is ready to lease, retail sales can be significant at this moment. It’s not unrealistic to see product sales increase 10% or more if focus and commitment are part of the plan. Consider every detail including straightening the products on the display, making sure all products are clearly priced and promoting these items with great signage. Additionally, you can categorically organize products so they are easy to locate as well as incorporate multiple price points and product variety to appeal to every customer’s needs.
It’s not a difficult process but by having a retail plan, a self storage facility can expect significant results.