Company Overview & Background Founded by Peter and Alex (met at Harvard Business School)Started as Local Locker in NYC - urban storage platform focused on unused spacesEvolved into White Label Storage - third-party management serviceAlex just had second boy (now 5 kids between the two founders)Currently operate 30 stores under management platform50+ stores in pipelineGrowth from 15 to 30 stores in past yearBusiness Model EvolutionLocal Locker: B2C model focused on urban storageWhite Label Storage: B2B management serviceOperational PhilosophyClient-first approach at every levelBuilt own website to reduce client costs ($500/month industry standard)Focus on stripping out unnecessary costsImproved onboarding process based on Rippling’s milestone approach Emphasizes building partnerships vs being fee providerTreats single-asset owners’ properties as retirement plansTechnology & InnovationRecently launched streamlined payment collection systemDeveloping proprietary revenue management tool (Q3 launch target)Team Structure & Management30 total employees~20 in operations (split between facility level and customer service)Separate sales/marketing and local teamsImplemented specialized roles to reduce “cognitive burden”Market Outlook & Industry Trends* Seeing demand normalization post-COVID correctionExtra Space potentially returning to smaller marketsMajor challenge: “slash rate” promos creating pricing confusionFocus on maintaining steady rates vs chasing promotional pricingUnder-investment in assets remains common industry problemExpects institutional buyers to return to remote markets

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