executive summary - absolute storage cost savings on credit card fees, bank fees, and postage....
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EXECUTIVE SUMMARY
Absolute Storage Management (ASM) was founded in 2002 by three former executives of
Storage USA, a public self storage REIT. ASM is now the largest private third party operator of
self storage facilities in the United States. We manage over 5,000,000 square feet in thirteen
states with offices in Memphis, Atlanta, Charlotte and Jackson.
From the development of a new storage facility to management of an existing one, the ASM
team will bring your project a wealth of experience and knowledge. Our firm focuses on
generating superior results and maximizing the net operating income of each individual
location.
ASM holds the Accredited Management Organization (AMO) designation from the Institute of Real
Estate Management, the only self storage management company in the nation with this distinctive
designation.
Our purpose is simple:
ASM was formed to provide self-storage owners with professional management and consulting services.
Our mission is defined:
Growing successful partnerships with our customers, team members and investors by
delivering excellence in service.
Our values are clear:
Leadership, Integrity, Communication, Teamwork, Excellence, and Dedication
Inside Self Storage named ASM the largest privately owned third party management company for self storage in the United States for the second year in a row. Inside Self Storage’s 2015 study shows
that in the storage industry, ASM ranks in the top 5 largest management companies of both private and public operators.
ASM continually proves their dominant position in the industry by matching and outperforming nationally recognized REITs. Performance information is located at the end of this document.
MANAGEMENT SERVICES
PROFESSIONAL PROPERTY MANAGEMENT
• Hiring, motivating, and training of property personnel
• Hands on supervision by the partners through on-site visits
• Established policies for running a self-storage property
• Significant training of new staff
• Periodic manager meetings and sales training seminars
• Mystery shopping (by telephone and in person)
• Industry leading web based software that streamlines operations
MARKETING
• Aggressive Internet marketing programs that generate results
• Senior management aggressively reviewing all web options
• Development and implementation of a marketing plan including social media
interactive profiles, referral programs, local community outreach, and third party
aggregator websites
• Development of new, or enhancement of current marketing materials (brochures, thank you
letters, etc.)
• Establishment of strategic alliances with apartment complexes, businesses and
moving companies in a 3-mile radius
• Quarterly visits from our marketing managers to train on-site staff
• Tracking of results to determine ROI of each marketing initiative
REVENUE MAXIMIZATION
• Periodic and aggressive customer rate increases
• Frequent street rate adjustments based on market demands and competitive rate structure in the market
• Ancillary income through truck rentals, tenants insurance, locks and packing supplies, etc.
• Analysis of unit conversions and expansions to maximize occupancy and revenue
HUMAN RESOURCES
• Employee payroll processing
• State and local sales tax processing
• FT employees eligible for ASM health insurance, dental, vision, LT disability, supplemental coverage
• All employees eligible for ASM retirement plan
• Administration of health insurance plan to ensure the retention of the best employees
• Administration of retirement plan
• Discount on worker’s compensation insurance - due to ASM economies of scale
• Administration of worker’s compensation program
• All property personnel are employees of ASM
VENDORS AND MAINTENANCE
• Cost savings on credit card fees, bank fees, and postage.
• Discounted service contracts for insurance, inventory, office supplies, etc. - due to
ASM economies of scale
• Maintenance contracts bid and negotiated (i.e. lawn, security, mechanical, etc.)
• Obtaining bids and awarding contracts for capital improvement projects
• Arrangement of retail displays for maximum effectiveness
• Access to ASM preferred vendors
MANAGEMENT REPORTING
• Annual budgeting
• Online property management software viewable by owners 24/7
• Extensive monthly financial and operational reports
ACCOUNTING AND AUDIT CONTROLS
• Processing of accounts payable
• On-site audits performed on an unannounced basis
• Production of management reporting
• Reconciliation of monthly books
• Weekly audits of deposits and alterations
FORECLOSURES
• Foreclosure sign-off and completion of the foreclosure and auction process
• Provide collection services for unpaid accounts after the lien process has been completed
• ASM’s State Lease is reviewed annually by the top industry attorneys and integrates with our
software
CONSULTING SERVICES
EXISTING PROPERTIES
• Property improvement plans
• Property audits
• Market analysis
• Marketing solutions
• Property operation review
NEW DEVELOPMENT
• Market feasibility studies
• Financial analysis
• New project design and mix analysis
ASM PARTNERS
MICHAEL HAUGH, CEO
Michael Haugh is the CEO of Absolute Storage Management and has over 23 years of self storage
industry experience. Michael’s primary responsibilities include corporate strategy and leading ASM’s
acquisition and development activities. Under Michael’s direction, ASM has developed and acquired
over $35MM in properties across thirteen transactions for its own account and over $150MM for client
accounts. Prior to forming ASM in 2002, Michael was a senior executive with Storage USA, the
second largest storage REIT at that time. Michael began his self storage career at Storage USA
working as an assistant property manager and maintenance technician. After graduating college, he
spent three years as a property manager and district manager, learning the business from the ground
up. Thereafter, Michael took on a variety of responsibilities to complement his operations experience;
working with the company’s CFO on joint ventures and equity financing, as well as working with
Storage USA’s CEO, investing in new development projects and acquiring existing properties.
Michael holds a BA in economics from the University of Connecticut and an MBA from the University
of Memphis. He also is an affiliate real estate broker in Tennessee and holds the Certified Commercial
Investment Member (CCIM) and the Certified Property Manager (CPM) designations. Michael is a
member and active participant in the Memphis chapter of Vistage, an executive leadership and best
practices group.
Michael is co-founder and past president of the Tennessee Self Storage Association as well as a
former board member of the Georgia Self Storage Association.
MATT BAILEY, COO
Matt Bailey is the COO of Absolute Storage Management and has over 19 years of self storage
industry experience. Matt’s primary responsibilities are property management and operations, which
include the leadership of the regional and district managers. He also oversees marketing, training
and national account functions such as call center and other economy-of-scale programs. Prior to
forming ASM in 2002, Matt spent five years with Storage USA, holding a variety of positions and
enabling him to amass extensive knowledge of the industry. Matt began his storage career as an
assistant property manager and rapidly advanced into management, holding a district manager
position for two years, where he supervised 15 self storage properties. Matt also served as a
financial analyst, where he was able to hone his analytical skills before moving on to a highly visible
position as Manager of Call Center Operations, where he supervised a staff of 30. Matt holds a BS in
management from Southern Illinois University and an MBA from the University of Memphis. He is
currently pursuing the CCIM designation.
SCOTT BEATTY, CFO
Scott Beatty is the CFO of Absolute Storage Management and has over 18 years of self storage
industry experience. Scott’s primary responsibilities include the continued growth of the third-party
management business as well as traditional CFO functions such as the oversight of accounting,
financial reporting, revenue management, underwriting, human resources and technology. Prior to
joining ASM in 2003, Scott spent eight years in financial operations and forecasting/budgeting,
including four years as a financial executive at Storage USA. His experience includes the development
of single-year property budgets along with long-range strategic and financial plans for large scale
companies. During his self storage career, Scott has overseen and managed the annual budgeting
and forecasting responsibilities for over 400 properties, along with the creation, generation, and
analysis of monthly property financial reports. Scott holds a BS in finance from the University of
Maryland and an MBA from Johns Hopkins University. Scott is actively involved with the University of
Memphis Fogelman College of Business as a mentor in its Memphis Institute for Leadership Education
(MILE) program which annually pairs up business executives with elite undergraduates for mentoring
and leadership opportunities.
CONTACT INFORMATION
ABSOLUTE STORAGE MANAGEMENT, INC. 1136 North Germantown Pkwy – Suite 101 #371
Cordova, TN 38016
901-737-7336 (Office)
866-521-1566 (Fax)
www.Absolutemgmt.com
MICHAEL HAUGH 901-490-9656
MATT BAILEY 901-421-3512
SCOTT BEATTY 901-497-3949
PERFORMANCE
PERFORMANCE
