Self-Storage Veteran Selling Businesses Due To Health

Posted by Modern Storage Media on Apr 18, 2024 8:30:00 AM

Eric Smith, Owner/President of Self Storage Brokers of America Inc (SSBA) and its subsidiary, American Self Storage Property Management LLC (ASSPM), is open to selling.


A commercial real estate broker for 32+ years and a commercial broker/owner of SSBA Inc for approximately 20, Eric suffered a widow maker heart attack causing congestive heart  failure in 2001. He was told then that he would have five years to live. “I’m 77+ years old and have been blessed to see my kids grown and three granddaughters born,” says Eric. “Now,  23 years later, it seems Jesus had other plans for me.” 


eric smith-1Eric explains that, before he advertises in the open market, he wanted to share the  opportunity with MSM and its readers – and he feels it is a great one. “At SSBA, we have a strong, user-friendly, popular website with excellent placement on most major internet search engines. We have a nationally recognized registered trademark and own three strong domain names. We have a superb reputation, spanning over 20 years within the industry, with excellent references from self-storage buyers and sellers. And we have a proven business model with minimal operating expenses." 


Continues Eric, “Due to health reasons, I had to discontinue the very successful and lucrative broker affiliate program with brokers in 10 states and broker-of-record agreements in many more. Our comprehensive broker-affiliate program includes attorney-produced documents (program description, intro letters, ads, brochures, etc) and an orientation program. The new owner would be able to restart this viable program anywhere in the U.S., Puerto Rico, Mexico, and Canada. Owning my brokerage companies would also be ideal for a residential broker/company or retail brokerage company working in a saturated market.” 


“There is also a tremendous need for short-term startup self-storage management and troubleshooting. At SSBA and ASSPM, we serve both purposes,” he adds.


Eric says that once the necessary management personnel are hired, self-storage and gate software are in place, a web page is set for renters to pay online, and all reporting, etc, is established, the new owner will be able to access information and cameras daily, weekly, and monthly at all the properties. At that point, the management company’s work is done, and it should stop charging the owner the customary 5-6% per month of gross revenue. This offsite management expense can then go right to the owner's bottom line.


“Even with my physical limitations, I have still been able to represent buyers in the last number of years, recently generating among other sales a four-property sale for $17.1 million and over $300K in commissions,” states Eric. “So, I know anyone in decent health can make an excellent living off these businesses. In 32 years as commercial broker, 12 years working for other major commercial brokerage firms and 20 years after SSBA was formed, we have had many testimonies that prove this. Please check out the SSBA web page. I can provide many other reference letters as well.” 


Interested parties may contact Eric via office phone at 317-705-0599 or email him (Please do not text due to the volume he receives daily). He encourages interested individuals to leave a message with a phone number and the best time to be contacted.