FUTURE-PROOF SELF STORAGE – FIVE KEY TAKEAWAYS FROM OUR LATEST WEBINAR

1. Digital is a Priority

The self storage industry has undergone rapid transformation with the adoption of new technologies and processes. Gavin Shields highlighted that over the past five years, he has witnessed significant industry changes. Operators, he explained, have come to understand the importance of optimising their websites and workflows, noting that “Operators have recognised that their website is their number one salesperson.” Looking ahead, he predicted that the minimisation of costs through automation and integration will remain key areas of focus and ongoing improvement.

2. Automation

Marc emphasised that automation has radically changed the self storage industry, especially in the last few years. He noted, “We’ve gone from everything being done by hand, to fully automated systems.” Automation now spans from price management, with AI-driven solutions adjusting rates dynamically, to unmanned facilities that operate with minimal staff. Alasdair agreed, explaining how automation improves revenue streams. Automation is not only helping streamline operations but also making self storage more accessible to tenants by offering services such as 24/7 access, mobile apps, and online booking systems

3. Remote Management

Jack explained that remote management makes the endeavour viable for entrepreneurs entering the market, allowing them to “reduce costs and get to that break-even/ profitability point quicker.” It also allows established operators to scale their operations. Jack further explained the reduced need for on-site staff and its implication on costs. Valuable discussion arose as panellists agreed on its importance for cost-efficiency and scalability. They also mentioned that despite remote management’s reduced requirement for on-site staff, it actually increases jobs and productivity, while simultaneously providing opportunities to upskill the existing workforce.

4. Pricing Strategies

Dynamic pricing models were discussed as a crucial strategy for optimising facility revenue. Gavin noted the importance of adjusting prices both for new customers and existing tenants, ensuring that facilities remain profitable through supply-based strategies. He further explained that adjusting both the “price on the way in” as well as the “ongoing price” are important in maximising profit. Marc added to this, as some operators are hesitant to raise prices even when they have 97–99% occupancy. He advised, “Better to raise your prices and go slightly lower in occupancy but make more money in the end.” The panellists all agreed that pricing should not follow a one-size-fits-all approach. Martin stressed the flexibility offered by AI-driven pricing ensures that operators can respond to market demand efficiently and profitably, predicting that it will be widely adopted across the industry within three years.

5. Artificial Intelligence (AI)

The panel discussed the potential of AI in self storage, particularly in dynamic pricing, occupancy management, customer support, and security monitoring. Martin highlighted that AI integration into chatbots can enhance the customer experience by offering 24/7 support, handling simple tasks, and assisting sales teams when staff may be unavailable. However, Alasdair emphasised understanding AI’s limitations and risks: AI can sometimes produce inaccurate responses, and its outputs should be monitored carefully.

On security, Martin noted that while AI is not more or less secure than other software, it requires robust safeguards against cyber threats, making it crucial to work with established, secure partners. Gavin and Jack added that best practices in software development and diligent risk assessment are essential to leveraging AI effectively and safely. Recognising these risks and limitations will help operators implement AI responsibly while enhancing efficiency and profitability.

Other Future Trends

When discussing future trends, the panellists agreed that AI, machine learning, and robotics will drive the next phase of self storage. Jack shared a compelling example, where robotics technology brings units directly to the customer. While this innovation may still be in development, it demonstrates how advanced solutions can elevate the customer experience. Alasdair stressed the importance of the emergence of the younger generation and their focus on a contactless journey. Panellists also highlighted the importance of integrating real-time data from multiple systems and further advancing automation as pivotal trends shaping the industry’s future. They emphasised that the industry’s future centres on enhancing the customer journey. As customer demand for seamless online experiences grows, operators will adapt their processes to deliver an optimised customer journey