Storable's Webinar - What can you do now to prepare for the next downturn?

[tarheelguy]

Who was in the business in 2008 when we had the Great Recession? Our occupancy took a big hit and it took 3 years before we saw it finally turn around. We did just about everything to attract new move-ins. Nothing worked. It just took time. Many of our corporate accounts went broke. They never came back, but we slowly recovered as the economy recovered. I am curious to hear what Storable has to say. What did you do in 2008?

[Storman]

I didn't experience any notable downturn in 2008, I just had turnover. Those that had storage space as a 'luxury', moved out and were replaced by people that had to downsize. The people that wanted more room in their home garage for the jetski or side by side went away and customers that lost their 4 bedroom house moved in.

In my market, storage has proven to be highly recession resistant.

[RandyL]

We also didn't notice any down turn in 2008.

[helenatim]

I quit building homes in 2007 (a lucky coincidence) and opened our first facility. Nothing but growth since then! I have registered for the webinar. The last one a couple of weeks ago was very informative. I enjoy Storable's national viewpoint and how it compares to my small town business.