June 19, 2020 – Phoenix, AZ. OpenTech Alliance, the leading developer of innovative smart-connected technology solutions for the self storage industry, helped relative newcomer Go Store It avoid auction liability during a multi-state expansion with StorageTreasures.com. Solely owned by Madison Capital Group, Go Store It was founded in January 2017 with an aggressive plan for growth throughout the southeast. They opened their first two stores in March 2017 and joined the StorageTreasures online auction platform in May of that year.
Shortly after launch, Go Store It more than tripled in size over the course of 12 months, and now operates 38 locations spanning eight states with three additional facilities nearing completion. “This rapid growth and the fact that each state has different auction laws could have become a recipe for disaster,” stated Stephen Makepeace, Director of Operations for Go Store It. “StorageTreasures made sure each of our stores had the training and tools necessary to successfully manage their auctions. One of the things that StorageTreasures provides that most other platforms don’t are legal insights in regard to what the lien laws are on a state-by-state basis. This way, we didn’t slip up and follow the wrong timeline or do things incorrectly. Not every state is identical – StorageTreasures was a huge help.” StorageTreasures offers a unique advantage over other online providers with on-staff auctioneers licensed in all 50 states.
With extensive experience in self storage, Go Store Its management staff wasn’t new to the challenges presented by the lien enforcement process. Most importantly, they didn’t want it to be the focus of their business. “The last thing we want to do is go to auction,” stated Makepeace. “We don’t want a lot of attention on the fact that we auction off people’s goods – that’s not our focus. We’re a clean facility that stores people’s goods. Live auctions add to the stigma that we auction off people’s goods – online auctions provide a better option, as the most expedited and least expensive route for us in every state. We chose StorageTreasures over other players in the field because it was a better product. StorageTreasures’ systems are seamless, they keep us up to speed regarding auction laws, and we don’t have any issues on property or on the backend. And StorageTreasures came highly recommended.”
In addition to reducing onsite visibility when an auction takes place, StorageTreasures offers Go Store It an important perk over live auctions – convenience and the ability to expedite the process. “I want to get my space back for a renter who’s going to pay their rent,” stated Makepeace. “The website is easy to access, and the step-by-step training makes navigating through the process simple. Everything is done online. The successful bidder is the only person that actually comes to the store. As opposed to the circus of bidders that pile in for a live auction.”
As new stores are added to the portfolio, Go Store It will continue to add them to the StorageTreasures platform. According to Makepeace, StorageTreasures was essential to their ability to streamline the auction process, and they’d endorse the service to any storage organization looking to do the same.
“Storage Treasures helps us quickly and efficiently handle this part of the storage business,” stated Makepeace, “so we can spend more time managing our stores and, most importantly, taking care of our customers. No storage company relishes having to sell tenants goods, but unfortunately, sometimes situations necessitate the need to do so. The auction process is time-consuming and full of legal pitfalls, especially if you have stores in multiple states with varying laws. StorageTreasures helps streamline this process and always keeps each store up-to-date in regard to changes in states’ auction laws. We appreciate the dedication and professionalism that Storage Treasures has provided us. We would highly recommend them to any company looking for help with storage auctions.”
To learn more about StorageTreasures, contact OpenTech Alliance at email@example.com.