Mini Storage Owners Pros And Cons Of Auctions

Mini Storage Owners: Pros and​ Cons of​ Auctions
Are you a​ mini storage owner who is​ losing money due to​ customers who simply just won’t pay their bill .​
if​ so, did you know that you can host a​ public storage auction? Your state may have some restrictions on doing so, but a​ public auction should be an​ option.
One of​ the​ many pros or​ plus sides to​ hosting a​ self-storage auction is​ that you are able to​ recoup your losses .​
These auctions take place when bills are left unpaid, often for​ months on end .​
Since you are losing money, it​ can hurt your business .​
But, when you auction off the​ contents inside each unpaid storage unit, you can recoup your losses.
In addition to​ recouping your losses, there is​ always the​ possibility that you will make money .​
if​ a​ bidder pays $300 for​ the​ items inside a​ storage unit, but the​ unpaid bill is​ only $100, you stand to​ make a​ $200 profit .​
of​ course, remember your expenses .​
You need to​ let the​ public know about your auction .​
This may involve buying signage or​ taking out a​ newspaper classified ad.
Mini storage auctions are easy to​ setup .​
In fact, it​ may be much easier than you originally thought .​
Why? Because you have the​ freedom to​ decide how it​ works .​
Do you want to​ handle taking the​ bids yourself or​ do you want to​ hire a​ third-party auction house? if​ you are auctioning off the​ contents inside whole storage bays, as​ opposed to​ a​ few bins, all you need to​ do is​ open the​ unit and​ start taking bids.
Another pro or​ plus side to​ hosting a​ public storage auction is​ that they are increasing in​ popularity .​
You are not the​ only person who can profit from these auctions .​
Many buyers resell what they bought on eBay, on Craigslist, at​ yard sales, and​ at​ flea markets .​
Although there are some risks involved, as​ buyers don’t always know what they are bidding on, storage auctions are an​ easy way to​ make money .​
for​ that reason, alone, you should see many bidders at​ your auction.
Although there are a​ number of​ pros to​ hosting a​ mini storage auction, there are a​ number of​ cons to​ doing so as​ well .​
Not all auctions are successful .​
Yes, they are increasing in​ popularity, but it​ depends on what you have to​ offer .​
People are less likely to​ attend if​ you only have one or​ two boxes to​ auction off .​
if​ you are a​ small storage owner or​ if​ most of​ your customers pay their bills, it​ may be best to​ wait.
The biggest and​ possibly most disturbing downside to​ hosting a​ public storage auction is​ disgruntled customers .​
You may have multiple insults hurled at​ you .​
Yes, your former customers were in​ the​ wrong .​
After all, they decided to​ let their bills go unpaid .​
Despite this important fact, it​ will still be your fault .​
To reduce the​ chances of​ an​ angry customer, give them multiple chances to​ reclaim their belongings by paying their bill.
As you can see, there are a​ number of​ pros and​ cons to​ hosting a​ mini storage auction .​
if​ you are unsure if​ an​ auction is​ right for​ you, attend one .​
See how high bids go and​ what the​ turnout is​ like .​
This will help you determine if​ you can recoup your losses and​ make a​ profit or​ if​ an​ auction would just be a​ waste of​ time.

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