General Storage Chat If you have general questions or comments and aren’t sure where to ask/put them, start with this forum.

Reply
  #1 (permalink)  
Old 4th March 2010, 08:14 AM
jcarlisle's Avatar
Community Manager
 
Join Date: Feb 2009
Location: Chicago, IL
Posts: 2,248
Lightbulb $10 Mill to Expand Your Biz - What Would You Do?

Here's one of those fun hypotheticals:

Suppose you were given a $10 million interest-free loan to invest in your storage business. There's no real set deadline to pay it back, either.

Rules:
1.) You can't pay yourself more.
2.) You can't sabotage another business.

In other words, tell us about your pipe dream expansion and upgrade. How would you make your business better if there were little risk involved?
__________________
John Carlisle
Community Manager, Self-Storage Talk
Online Content Editor, Business Solutions Network
VIRGO
jcarlisle at vpico dot com
480-990-1101, x1214
Reply With Quote

  #2 (permalink)  
Old 4th March 2010, 11:36 AM
Autodoc's Avatar
Mod eMeritus
 
Join Date: Jan 2008
Location: Jamestown, ND
Posts: 2,820
Default

With 10mil --- I would:

1. re-do our drives (cut out all the asphalt and re-lay new without cracks)

2. expand -- we have a 2 acre lot in front that has been vacant for 25 years

3. add solar! I would never pay an electric bill again!

4. I would take part of it to fully fund a local little league football team.

5. I would also contribute some of it to other local childrens charities.
__________________
Wayne
Jamestown, ND


All arguments can be resolved ... with high explosives and Humor!!!

Last edited by Autodoc; 5th March 2010 at 10:11 AM.
Reply With Quote
  #3 (permalink)  
Old 4th March 2010, 01:36 PM
MusicCity Gal's Avatar
Moderator
 
Join Date: Sep 2008
Location: Music City USA
Posts: 1,222
Default

I would use it to build covered and enclosed RV Parking! We have upgraded our facility so much, new showroom office and just got approved to add another Climate Control building, so the RV Section is where I would want to go. Also more landscaping!!

Sponsoring a Little League Team would be awesome too since my son plays for one!! Last year our sponsor was McNair Sports, but with the untimely death of Steve McNair, we lost the sponsorship........
__________________
By permission from Auto Doc

All arguments can be resolved ... with high explosives and Humor!!!
Reply With Quote
  #4 (permalink)  
Old 4th March 2010, 03:54 PM
Senior Member
 
Join Date: Feb 2009
Location: CA
Posts: 803
Default ooh, this could be fun

Like Autodoc, I would repave and install solar. Like MCG, I would love a covered area for RVs and more eyecatching landscaping. I would also add a new business sign with a new, classy logo. And I might just go for adding that "dog wash" that was mentioned in another thread.
Reply With Quote
  #5 (permalink)  
Old 4th March 2010, 04:12 PM
Reebee's Avatar
Senior Member
 
Join Date: Dec 2008
Location: Oakdale, CA
Posts: 335
Default

I would first of all pay off our existing mortgages. That would eliminate 99% of my financial worries every month.

Cover our RV parking.

Add solar (i hate pg&e bills).

Have a HUGE sign built to put at the corner pointing to our facility (which is hidden back in the industrial park).

Buy new company t-shirts, oxford shirts, etc. so we would all look wayyyyy better dressed!

Re-wrap our "free with move-in" moving van.

Make advance reservations for the ISSA Conference in Vegas every year!!
__________________
Have you ever stopped to think and forgotten to start again?
Reply With Quote
  #6 (permalink)  
Old 4th March 2010, 05:12 PM
MusicCity Gal's Avatar
Moderator
 
Join Date: Sep 2008
Location: Music City USA
Posts: 1,222
Default

ReeBee I LOVE your way of thinking!! New company attire would be very nice!! And paying off the mortgage so everything is PROFIT!! Love it!!

I would also set up delivery of Fresh Flowers and Fruit every Monday! That would be a nice way to start the week! Yes, I know, indulgent!!
__________________
By permission from Auto Doc

All arguments can be resolved ... with high explosives and Humor!!!
Reply With Quote
  #7 (permalink)  
Old 4th March 2010, 05:21 PM
Reebee's Avatar
Senior Member
 
Join Date: Dec 2008
Location: Oakdale, CA
Posts: 335
Default

MCG--YES!!! flowers and fresh fruit!!!
__________________
Have you ever stopped to think and forgotten to start again?
Reply With Quote
  #8 (permalink)  
Old 4th March 2010, 07:18 PM
shaekirk's Avatar
Moderator
 
Join Date: Jan 2008
Location: Beautiful Santa Clara, California
Posts: 1,209
Default

I would add a fourth floor with climate control, and I'd do solar panels, TOO!

Plus catered lunch twice a week!
__________________
What lies behind us, and what lies before us, are small matters compared to what lies within us!

Shannon
Reply With Quote
  #9 (permalink)  
Old 5th March 2010, 07:45 AM
FairbornSelfStorage.com's Avatar
Member
 
Join Date: Jan 2008
Location: Dayton, Ohio
Posts: 77
Default

I would aquire other facilities
Reply With Quote
  #10 (permalink)  
Old 5th March 2010, 10:18 AM
Autodoc's Avatar
Mod eMeritus
 
Join Date: Jan 2008
Location: Jamestown, ND
Posts: 2,820
Default

Fairborn -- I think that's the shortest post we have ever seen from you!

Are you feeling OK?


I had the assumption the 10mil would go to the owners, and as I am just a lowly manager I would not get much say in the spending of it.

If it were given to ME I would buy my own facility in south Florida!

Or just buy my (as Gina suggested) purple yacht and sponsor SST manager vacations!
__________________
Wayne
Jamestown, ND


All arguments can be resolved ... with high explosives and Humor!!!
Reply With Quote


Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Self-Storage Training

Get industry education and certification through the Self-Storage Training Institute (SSTI), offered by Inside Self-Storage and Self-Storage Talk.
  • Available 24/7 online
  • Immediate results
  • Certification program
  • Single classes
  • Top-notch education
Click here now!

Forum Statistics

  • Forum Members: 5,159
  • Total Threads: 6,063
  • Total Posts: 54,533
There are 403 users currently browsing forums.