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My partner and I started a business out of our dorm rooms in 2011 while Juniors in college.
But our tool of choice wasn’t groundbreaking code.
It was a 1999 ford cargo van we bought for $1500 on craigslist.
A thread about me.
But our tool of choice wasn’t groundbreaking code.
It was a 1999 ford cargo van we bought for $1500 on craigslist.
A thread about me.
It was a pickup and delivery storage business for college students. When they went home for the summer, we picked up all of their stuff and stored it nearby. Then we’d bring it back to them when they came back.
We didn’t make much money at all the first few years.
A lot of grinding. Late late nights in warehouses. 140 hour work weeks.
A logistical nightmare of a business.
A lot of grinding. Late late nights in warehouses. 140 hour work weeks.
A logistical nightmare of a business.
5 full time employees By 2015. 8,000 students a year used our services in 12 states and 25 college campuses.
300 part time employees during the May and August rush.
And this is when we learned about incredibly tight systems.
300 part time employees during the May and August rush.
And this is when we learned about incredibly tight systems.
Because we were in Boston MA with 10 trucks and 25 employees running each day while 25 crews and 100 more employees were in other cities hours away without us.
And we had to be on time, trained and equipped.
Brutal.
And we had to be on time, trained and equipped.
Brutal.
By 2015 we also had some capital saved up and did our first self storage development project.
Raised money by going from kitchen table to kitchen table and threw in a lot of our own cash too.
Doors opened in 2017.
A $2.4MM total cost.
Raised money by going from kitchen table to kitchen table and threw in a lot of our own cash too.
Doors opened in 2017.
A $2.4MM total cost.
Once we got it built (after a stressful few years and 20% over budget) we hit our stride.
In late 2019 we bought 6 more smaller properties.
Now we had an operational advantage and knew we were on to something but didn’t have enough cash to really scale.
In late 2019 we bought 6 more smaller properties.
Now we had an operational advantage and knew we were on to something but didn’t have enough cash to really scale.
In early 2020 I got serious about Twitter and that changed everything.
After meeting several investors we closed on 3 more (much larger) properties in late 2020.
By April 2021 we’ll have over 500,000 sf and 22 properties in our portfolio.
After meeting several investors we closed on 3 more (much larger) properties in late 2020.
By April 2021 we’ll have over 500,000 sf and 22 properties in our portfolio.
In December of 2020 we closed on the sale of our original service business and shifted our focus 100% to self storage.
I love real estate and small biz and spend nearly every waking hour thinking about how to do it efficiently.
Follow along here: http://sweatystartup.substack.com
I love real estate and small biz and spend nearly every waking hour thinking about how to do it efficiently.
Follow along here: http://sweatystartup.substack.com
