FY24saw member engagement atanalltimehigh
The SSAA was delighted to host a record 375 members at M23, the self storage event of the year in the dynamic heart of Melbourne. Seeing many new faces embrace the collegiate spirit of self storage is a testament to the industry and made for a spectacular three days, culminating in celebrations for the SSAA Awards for Excellence.
M23 also saw the launch of the SSAA Industry Snapshot 2023, which charted the sector’s return stabilised growth and highlighted important sector trends, including demand drivers and the role of technology and automation in self storage.
SSAA’s ongoing investment in research on behalf of members continues to promote self storage as a standalone asset class, with aspects of State of the Industry 2024 also accounted for in FY24, ahead of the report’s release in November 2024.
On the advocacy agenda, SSAA continued its efforts addressing the challenging insurance landscape and exploring alternative solutions for members, working to bring a customer protection product to the Australasian market.
The SSAA reinforced its commitment to supporting members with operational resources, undertaking a review of consumer and contract law requirements and delivering a new self storage agreement suite, updated CSA guidelines and associated learning modules.
FY24 saw continued investment in technology to streamline member experiences and our internal operations. Highlights this year included additional StorerCheck automations, a new-look StorageFinder and further updates to the member portal.
Despite ongoing industry consolidation, membership continues to grow. Across FY24 the SSAA welcomed 116 new members, grew its supplier membership base by 24% and enjoyed an overall renewal rate of 89%.
The SSAA team is proud to have delivered another significant program ofwork for members this financial year. Many of the investments made in FY24 will continue to benefit members well into the future. Importantly, these achievements have all been delivered while continuing to strengthen the financial sustainability of your association.
These outcomes would not be possible without the support of industry. In FY24 we weredelighted to welcome Janus International Australia as our Principal Partner. We thank our directors, all our partners and our dedicated SSAA team for their tireless efforts across the year.
Thank you for supporting us, so we can continue to support you.
Yours sincerely
Makala Ffrench Castelli Chief Executive Officer
FY24Highlights
The SSAA had 890 members at 30June 2024 (FY23:873) representing 1440facilities (FY23:1603) across Australasia. This represents anincrease in membership of 2%on FY23,despite ongoing industry consolidation.
During FY24,SSAA welcomed 116new members and increased its supplier membership by 24%.
Across FY24,51 members resigned and 44let their membership lapse (uncontactable/no payment).
AUMembers 87% (FY23:88%)
NZMembers 13%(FY23:12%)
Membership MemberEngagement
MemberBenefits
The SSAA supported members with a range of resources, services and events throughout FY24.
Some notable highlights include:
• Answered more than 1250member enquiries over the phone
• Answered more than 300 enquiries via the SSAA Help Desks
• Facilitated more than 127,000checks and the reporting of more than 863incidents onStorerCheck
• Launched 22online training modules
• Filmed and released more than 21hours of video content
• Published more than 80+ articles
• Developed the SSAA Information Management and Cybersecurity Guidelines
• Created
•
FY24Highlights FinancialPerformance
The FY24financial statements report:
TotalRevenue
TotalExpenses
NetProfit
NetAssets
$2,101,473 (FY23:$2,116,066)
$2,078,536 (FY23:$2,082,392)
$22,937 (FY23:$28,684)
$1,651,086 (FY23:$1,518,232)
Total Revenue for FY24remained consistent with FY23,despite FY23being a single event year. This relative increase in revenue can be attributed to the increase in new members, growth in partnerships and additional revenue from licencing StorerCheck toSSA UK.
Expenses were also inline with FY23, demonstrating prudential financial management.
Net assets grew by 8.9% due to the revaluation of the Bundoora office, which is currently sub-let.
As a non-profit entity, the SSAA seeks to invest the majority of available funds into projects and services for the benefit of members. A modest profit of $22,937has been retained for future requirements.
ExpenseDistribution RevenueDiversification
Governance
FY24saw SSAA farewell longstanding director David Daddow in line with rotational requirements. The Board welcomed new director Elizabeth Rutland representing Independent Operators.
Directors continued overseeing the execution of the 2023-2025SSAA Strategic Direction, with a particular focus ondeveloping the new self storage agreement and ongoing advocacy on insurance and alternative solutions.
The Board and the Audit, Finance & Risk Committee each met four times in FY24. The Audit, Finance & Risk Committee held a risk management workshop in February 2024and continues to play an active role in budgeting, financial and risk management oversight.
The SSAA Office at Bundoora, Melbourne is held ata value of $840,000(FY23:$738,746). During the year, part of the office was sub-let which generated income of $26,995in FY24.
The SSAA acknowledges the ongoing support of industry, including principal partner Janus International Australia and major partners VISY Boxes & More, Southwell Lifts & Hoists, Storman, Storco, Universal Storage Containers and PTI Security, Convention sponsors, advertisers and all those who contributed their expertise forthe benefit of members throughoutthe year.
By Income Stream By MemberType
TheYearAhead
Looking ahead to 2024/25,the SSAA is well placed to continue driving innovation and support within the self storage industry.
Key initiatives for the coming year include the continued development and launch of StorIntel, an industry-owned intelligence platform designed to equip members with micro and macro industry insights. This platform will provide members with a deeper understanding of market trends, operational benchmarks and areas of opportunity.
Advocacy will remain central to SSAA’s mission, with a strong focus on navigating the evolving and increasingly complex landscape of development and compliance.
OurStrategy
As regulatory environments continue to shift, SSAA will champion the interests of the self storage sector.
Turning to education and support services, the SSAA will further expand its resources and support offerings to assist members in adapting to a changing operational landscape, and those who are getting started in self storage.
As always, SSAA remains ready toact and adapt as our industry continues todo the same. Your association is well placed and well resourced to continue its support and stewardship of self storage across Australasia.
Createdbytheindustryfortheindustry,the SSAAexists tohelpmembers’ businesses thrivebyprovidingadvocacy,education and support. Asthepeakbodyforthesector, theSSAAseeks to inspireexcellenceandengagement acrossthe selfstorage industry.
Weadvocatefor theindustryatlargeand onbehalfofourmembers
Wesupportourmembers bysharingknowledge, resourcesandinsights
Weworktoconnect, nurtureanddevelop theselfstorageindustry
Keypriorities:
• Delivering accurate and timely industry research and insights
• Inform industry stakeholders aboutthe profile and potential of self storage
• Track sector performance and key industry metrics
• Focus ouradvocacy agenda on high impact issues
Keypriorities:
• Enhance industry understanding of self storage operations
• Offer timely and accurate legal and operational support
• Embed good governance practices across the industry
• Help ourmembers adapt to industry innovation
Keypriorities:
• Creating value for our members through regular engagement
• Connect ourmembers and stakeholders to build and maintain industry relationships
• Communicate effectively to ensure members are well-informed
• Consult with our members to provide relevant services, resources and advice
