The self storage industry just like any other is chock full of competition. In order to compete you have to be willing to go the extra mile. For many self storage facilities, especially those in warmer or colder climates as well as real humid ones, that means more climate controlled storage units. The only problem is that those cost more to operate.
That is where the conundrum lies. You know you have to spend money in order to make money sometimes, but if you spend too much you have to charge too much and then you don’t have any customers. However, if you don’t do something to stand out from the rest than you still will have a shortage of customers.
A group of self storage facilities in Florida have figured out a way to make having more climate controlled units cost effective. Veritage Management Inc. has installed something called the ECO 3 in 214 of their self storage units across 13 self storage facilities.
The ECO 3 which is made by Smartcool Systems Inc. and distributed by Global Energy Services, makes refrigeration and air conditioning systems more efficient. The more efficient your climate control the less it is going to cost. Of course the less something costs you the more profit you can make.
“This latest deployment of the ECO3 is evidence of our increasing traction in a rising industry," explains George Burnes, President & CEO of Smartcool. "As the 'empty nester' population increases, there has been significant growth in the climate-controlled self-storage industry. Smartcool is providing an exceptional energy efficiency solution for the industry's air conditioning systems that ensures climate control is maintained while operating costs are cut."
The larger usage here was prompted by a successful trial at one self storage facility, Bee Ridge Self Storage in Sarasota, FL. There were 11 units that were outfitted with the ECO 3 to test how well they would work. According to Bob Burton, the VP of sales for Global Energy Services, the units were 26 percent more efficient giving the self storage facility a significant reduction in their electricity bill. In the long run the facility experienced a 70 percent return on their investment in the first year.
"With the record high temperatures we experienced all summer long in 2010, we must find an answer to lower our electricity bills in Florida. Smartcool's technology is an important part of our solution," states Matt Lundstrom, Vice President of Veritage Management Inc.
Sources Used:
“Smartcool Cuts Electricity Costs for Florida Self Storage Facilities.” Yahoo! Finance; 03 February 2011.
“Get Your Energy Bills Under Control with Smartcool.” Smartcool.net; 04 February 2011.