Go Store It Self Storage and StoreEase announce outstanding operating results for the strategic partnership’s virtually managed self-storage facilities.
In the second quarter, the 37 select sites saw a more than 9% increase in revenue and an 11.5% gain in net income compared to Q2 2023. Additionally, 2,643 new customers moved into virtually managed properties, with at least 60% interacting with a Go Store It Virtual Manager® before renting. The average size of the 37 facilities was 565 units.
“Our results underscore the success of our collaboration with StoreEase,” said Beau Agnello, COO of Go Store It. “This partnership allows us to redefine the customer experience and operational efficiency in the self-storage industry.”
StoreEase and Go Store It partnered last year to implement a state-of-the-art Virtual Technology Platform as a SaaS / white label solution. The initial rollout consisted of 11 properties in North Carolina and South Carolina, with Go Store It deploying Virtual Managers to facility offices via StoreEase’s patented Virtual Counter® hardware.
These Virtual Managers interface with StoreEase’s Virtual Management Operating System (VMOS) to deliver front-end, virtual customer-facing operations, supported by physical managers handling daily back-end tasks.
The revenue growth reflects the demand for self-storage services and the effective implementation of virtual strategies. The net income improvement is primarily attributed to enhanced operational efficiency, exceptional management, and strategic cost management practices.
“This is game-changing data for properties of all sizes running virtually,” said Josh Boyd, CEO of StoreEase. “When you can optimize payroll through technology and still drive revenue at scale, you crack the code for the self-storage industry.”
About Go Store It
Based in Charlotte, North Carolina, Go Store It is an affiliate of Madison Capital Group specializing in the acquisition, development, and management of self-storage assets throughout the United States. As of June 30, 2024, the company manages and is constructing more than 6.5 million square feet of storage space.
About StoreEase
StoreEase is a leading provider of innovative virtual technology solutions focused on empowering organizations to optimize their investments through greater operational efficiency. With a commitment to intentional innovation, excellence, and customer satisfaction, StoreEase continues to develop cutting-edge hardware and software solutions that drive success for owners and operators across the self-storage industry.
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Thornton Kennedy
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