KSS eKourier October 2022

FEATURE

Manhattan Mini Storage is a unique business with 18 centres operating exclusively in NYC. The centres are enormous with 2,000 to 4,500 spaces each. These typically operate at 93-95% occupancy. ABOUT MANHATTAN MINI STORAGE The business was established in 1978 and cleverly focussed all its growth and operations to Manhattan. This resulted in a market dominance that is unrivalled around the world, with in excess of 60% of the supply to the Manhattan market. Manhattan Mini Storage is an institu- tion to the people of NYC, and even made an appearance on Sex And The City. In 2021 Manhattan Mini Storage was put to market by the family owners and sold for $3.3 billion USD. It was acquired by our friends at StorageMart. The Brand has a reputation for using its billboards for some very sassy messages.

The CubeSmart team generously gave us a whole day of presentation and Q&A on all the meaty stuff we want to learn about. We were able to learn from the heads of range of their business units and gained many valuable insights. After CubeSmart, we travelled to Columbia Missouri to spend a day with the Burnam’s of StorageMart at their HQ. They have 285 locations across the US, Canada and the UK, and are the largest privately-owned storage company in the world. We were treated to a deep dive into the business information tools, marketing practices, pricing and operating systems. Cris and Mike Burnam also generously fed us - twice - including a home cooked meal. Finally we were able to visit our friends at StorQuest in Santa Monica, California. This is another impressive storage operator with 280 locations and growing rapidly. The StorQuest team walked us through their approach to pricing, marketing, market research and operations. It was a hugely helpful and valuable session. LEARNING FROM THE BIG GUYS

"Karen was extremely helpful with our storage needs. Kennards at Baringa are new, clean and have 24 hour security access. They were very reasonably priced and always helpful with any queries we had. Highly recommended." "I’m still in disbelief as to how good the service is here at Rosebud. I phoned up other local storage places who answered the phone like I was bothering them. In contrast when I phoned this place I was welcomed with nothing but professionalism, proactive- ness and a big welcome. Helpful, clean, efficient, free trailer hire, easy access, can’t go wrong." "Always friendly and efficient service. Bob in particular has looked after us for the last three years. We would happily recommend Kennards at French’s Forest to anyone needing storage." "I just want to say Andrew you're a beautiful soul and I thank you so much for helping me out today, you're a gentleman and there’s not many left out there like you, you went out of your way to help me out today at Auburn and I thank you so much for that. God bless you brother." "We have been using Kennards Vermont since 2013 and will continue to do it for our business. Nice, clean and 24 hrs accessible premises with great variety of units. Michael and Kat are both very helpful and friendly. Also both are extremely professional and always happy to go out of their way to make our experience as smooth as possible. Thank you very much. 5 stars from Sarahtex Australia."

The trip exposes us to stuff and affirms our strategy and practices in many ways while challenging us in others. KSS is clearly practices are sound. We have added a lot of ideas and concepts to our memory library for future reference, as well as refining some existing strategies and we will ultimately also be activating or accelerating several others. a high performing business and our

Sam Kennard Chief Executive Officer

7 Kennards Kourier Oct 2022