We just returned from the Barrett Jackson Auto Auction in Las Vegas from this past week. From the show we realized several things. First that the economy is down. While people are still there spending money on cars the venue and the economy definately had an impact on sales prices. Secondly we noticed that there weren't any other Storage Condominium vendors. We checked online and noticed that nobody else is hardly making an effort, it's as if they aren't doing any more projects or don't think they can sell in this economy. Finally we noticed that we have increased our visibility and branding tremendously since last year.
When we go to a show we typically expect 100% to be explaining the concept to people who stop in and think we're selling custom garage flooring or lifts or something then we introduce the concept and they either get it or leave thinking we're crazy. This show was a bit different. We had person after person stopping by the booth to say to their buddies, "This is that GarageTown idea I was telling you about. You know where you own the garage instead of renting space." it's great! We saved time, gave them a bit more information, and they will hopefully buy a unit. No other company out there has this sort of reaction.
This has become one of our most valuable parts of the franchise model. Recognition. We've been in almost every major news publication and we're moving towards creating the next piece of the real estate market that people can invest in.
Overall it was a great show. Despite people still having a tight grip on their wallets during slow economic times, we have captured the minds and investment interests of quality people from all over the United States and Canada. I look forward to you writing me with any questions or comments.
-Cameron
Tuesday, October 21, 2008
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