Welcome back to TSN Conversations Unplugged, where we have unedited discussions with RV and boat storage industry experts. In this episode, Toy Storage Nation President Amy Bix visits with Roc Hughes of Janus International, Barry Sherman of S3 Partners and Wayne Brodrick of Rapid Building Solutions to learn how to elevate a Class B/C toy storage facility to Class A.
Tune in as they address the following questions:
- How do you define a Class B/C facility and what are the benefits of converting it to Class A?
- Are there advantages to purchasing a B/C and upgrading to Class A vs building from the ground up?
- Can you talk us through what a feasibility study looks like if you own a Class B or C and want to upgrade to Class A?
- Can the upgrade costs be financed separately from the facility purchase? How does financing work for the current owner to upgrade?
- How does the entitlement process differ?
- After converting, what marketing strategies do you recommend?
- How does an upgrade impact rental rates?
- How does it impact technology and what do you recommend as far as security for Class A?
- What amenities do you feel are important to include in a Class A site?
- Is there a unit mix you recommend for upgrading?
- How do you service current clients while upgrading? Can you phase the projects?
- Are there times when upgrading to a Class A doesn’t make sense?
- Can you explain cost segregation tax strategies?
Participants:
Wayne Brodrick
Vice President of Sales, Rapid Building Solutions
