2024 Annual Report

2024 Annual Report Proudly supporting the self storage industry of Australia and New Zealand

National Mini Storage Ormiston SSAA Facility of the Year 2023 (>500 units)

SSAA Annual Report FY24

FY24 saw member engagement at an all time high 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 of work 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 were delighted 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

FY24 Highlights Membership The SSAA had 890 members at 30 June 2024 (FY23: 873) representing 1440 facilities (FY23: 1603) across Australasia.

This represents an increase in membership of 2% on FY23, despite ongoing industry consolidation.

Provisional

55 44

Service/Supplier/Industry

75 93

During FY24, SSAA welcomed 116 new members and increased its supplier membership by 24%.

NZ Facility Under 50

31 34

NZ Facility Over 50

68 71

AUS Facility Under 50

220 222 424 426

AUS Facility Over 50

Across FY24, 51 members resigned and 44 let their membership lapse (uncontactable/no payment).

Additional Facilities

687

860 873 890

Total Members

1603 1440

Total Facilities

AU Members 87% (FY23: 88%) NZ Members 13% (FY23: 12%)

2023

2024

Member Engagement

480

19k

1605

66k

775

5100

Event Attendances

Member Portal Sessions

LinkedIn Followers

LinkedIn Impressions

Facebook Followers

Facebook Reach

Member Benefits The SSAA supported members with a range of resources, services and events throughout FY24.

Some notable highlights include:

•

Answered more than 1250 member enquiries over the phone

•

Answered more than 300 enquiries via the SSAA Help Desks

•

Facilitated more than 127,000 checks and the reporting of more than 863 incidents on StorerCheck

•

Launched 22 online training modules

•

Filmed and released more than 21 hours of video content

•

Published more than 80+ articles

•

Developed the SSAA Information Management and Cybersecurity Guidelines

•

Created facility security checklists in collaboration with BorderForce

•

Refreshed the CSA Guidelines to reflect the new self storage agreement suite

Industry Snapshot 2023

Self Storage Agreements

Insurance Alternatives

StorerCheck Automations

StorageFinder

New Member Portal

Self Storage Supplier Guide

Insider Magazine

Cyber Guidelines

MEL23 Convention

Networking Series

SSAA on Tour: USA

FY24 Highlights Financial Performance The FY24 financial statements report:

Total Revenue for FY24 remained consistent with FY23, despite FY23 being 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 to SSA UK.

Total Revenue

$2,101,473

Total Expenses

$2,078,536

Expenses were also inline with FY23, demonstrating prudential financial management.

Net Profit

$22,937

Net assets grew by 8.9% due to the revaluation of the Bundoora office, which is currently sub-let.

Net Assets

$1,651,086

(FY23: $2,116,066)

(FY23: $2,082,392)

(FY23: $28,684)

(FY23: $1,518,232)

Revenue Diversification

By Income Stream

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 $22,937 has been retained for future requirements.

Expense Distribution

By Member Type Administration 11.0% Events 33.0% Marketing 6.6% Member Services 6.9% Staff Costs 26.7% Strategic Initiatives 11.4%

Events Income 34.3% Marketing Income 6.0%

Membership Income 53.7% Other 6.1%

Independent Operator 73.0% Large Operator 8.1% Major Operator 9.7% Service 7.4% Provisional 1.9%

Other 4.3%

Governance FY24 saw 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 2023-2025 SSAA Strategic Direction, with a particular focus on developing 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 2024 and continues to play an active role in budgeting, financial and risk management oversight.

The SSAA Office at Bundoora, Melbourne is held at a value of $840,000 (FY23: $738,746).

During the year, part of the office was sub-let which generated income of $26,995 in 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 for the benefit of members throughout the year.

SSAA Annual Report FY24

The Year Ahead 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.

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 to act and adapt as our industry continues to do the same.

Your association is well placed and well resourced to continue its support and stewardship of self storage across Australasia.

Our Strategy Created by the industry for the industry, the SSAA exists to help members’ businesses thrive by providing advocacy, education and support. As the peak body for the sector, the SSAA seeks to inspire excellence and engagement across the self storage industry.

We advocate for the industry at large and on behalf of our members

We support our members by sharing knowledge, resources and insights

We work to connect, nurture and develop the self storage industry

Key priorities: •

Delivering accurate and timely industry research and insights

•

Inform industry stakeholders about the profile and potential of self storage

•

Track sector performance and key industry metrics

•

Focus our advocacy agenda on high impact issues

Key priorities:

•

Enhance industry understanding of self storage operations

•

Offer timely and accurate legal and operational support

•

Embed good governance practices across the industry

•

Help our members adapt to industry innovation

Key priorities:

•

Creating value for our members through regular engagement

•

Connect our members 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

Supporting self storage AU 1800 067 313 NZ 0800 444 356 selfstorage.org.au