Design Development 142: Reinventing Urban Self-Storage with Katharine Lau, CEO & Founder, Stuf Storage
Katharine Lau is the dynamic founder and CEO of Stuf Storage, a company that reimagines self-storage by leveraging under-utilized commercial real estate to create tech-enabled storage solutions. Before embarking on her entrepreneurial journey, Kat held a key role at Industrious as their first real estate hire, where she was instrumental in the company's expansion, managing multiple deals and contributing to new product launches.
As cities emerge from the challenges of pandemic-induced vacancies, Kat captures the opportunity to provide urban spaces with proximity-based storage solutions, enhancing the accessibility and efficiency of self-storage for modern consumers. By focusing on previously overlooked urban spaces and employing advanced technology, she's optimizing customer experiences and streamlining operations.
Key Takeaways:
- Innovative Storage Solutions: Stuf Storage monetizes underutilized real estate in commercial buildings to offer convenient, tech-enabled self-storage solutions closer to where people live and work.
- Strategic Partnerships: The company employs a revenue-sharing model with landlords, converting non-revenue generating spaces into profitable storage units without owning the real estate.
- AI-Powered Operations: Stuf Storage utilizes proprietary technology, creating efficient and scalable operations amid growing storage demands.
- Founder Journey Insights: Kat Lau draws on her experience from Industrious, emphasizing thoughtful decision-making and questioning traditional models to drive innovation in self-storage.
- Expansion and Opportunities: Targeting urban areas with high storage demands, Kat envisions Stuf Storage expanding into markets such as Philadelphia and Miami, representing a significant growth opportunity for developers.
Notable Quotes:
- "We're incredibly different. We offer a new form of supply to the market and monetize underutilized real estate in commercial buildings."
- "54% of millennials visit their storage unit weekly because it's an extension of their home."
- "All of our locations, the entire network, is remotely operated."
- "One of the best pieces of advice was our growth strategy can't just be a reaction to what wework's doing."
Resources:
- Stuf Storage website: Stuf Storage
- LinkedIn - Kat Lau: Kat Lau on LinkedIn
- Industrious website: Industrious
- Acquired Podcast: Acquired Podcast
- Books Mentioned: Unreasonable Hospitality by Will Guidara
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