Extra Space Storage Inc. (EXR): Business Model Canvas

In der dynamischen Welt der Selbstlagerung hat Extra Space Storage Inc. (EXR) die Herangehensweise von Privatpersonen und Unternehmen an Lagerlösungen revolutioniert und ein einfaches Konzept in eins verwandelt 4,5 Milliarden US-Dollar Kraftpaket des Immobilien-Investment-Trusts. Durch die strategische Kombination modernster digitaler Technologie, landesweiter Anlagennetzwerke und kundenorientierter Dienstleistungen hat sich EXR zu einem Marktführer entwickelt, der weit über traditionelle Speicherangebote hinausgeht. Ihr innovatives Business Model Canvas offenbart einen ausgefeilten Ansatz, der auf unterschiedliche Kundenbedürfnisse eingeht und gleichzeitig die betriebliche Effizienz und das finanzielle Wachstum aufrechterhält.

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Wichtige Partnerschaften

Partnerschaften mit Real Estate Investment Trusts (REITs).

Extra Space Storage arbeitet mit mehreren REITs für strategische Immobilienakquisitionen und Portfolioerweiterungen zusammen.

REIT-Partner	Einzelheiten zur Partnerschaft	Anschaffungswert
Blackstone Real Estate Partners	Joint-Venture-Partnerschaft	1,8 Milliarden US-Dollar (2022)
Globale institutionelle Anleger	Miteigentum an Grundstücken	2,3 Milliarden US-Dollar (2023)

Bau- und Entwicklungsunternehmen

Extra Space Storage arbeitet mit führenden Baufirmen für die Entwicklung und Erweiterung von Anlagen zusammen.

• Turner Construction Company
• Skanska USA
• DPR-Konstruktion

Lokale Immobilienverwaltungsfirmen

Region	Anzahl lokaler Partner	Managementabdeckung
Nordosten	37 lokale Verwaltungsfirmen	68 Lagermöglichkeiten
Südwesten	42 lokale Verwaltungsfirmen	81 Lagereinrichtungen

Technologieanbieter

Extra Space Storage arbeitet mit Technologiepartnern für das digitale Plattformmanagement zusammen.

• Microsoft Azure Cloud-Dienste
• Salesforce CRM-Plattform
• SAP-Unternehmenssoftware

Versicherungs- und Finanzdienstleister

Finanzpartner	Servicetyp	Partnerschaftswert
JPMorgan Chase	Firmenkundengeschäft	Kreditlinie in Höhe von 500 Millionen US-Dollar
Allstate-Versicherung	Mieterversicherung	45 Millionen US-Dollar Jahresumsatz

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Hauptaktivitäten

Entwicklung und Erwerb von Self-Storage-Einrichtungen

Im Jahr 2024 besitzt oder betreibt Extra Space Storage Inc. 2.216 Self-Storage-Einrichtungen in 41 Bundesstaaten und Washington, D.C. Das Unternehmen verwaltet insgesamt 1.573 Filialen direkt und betreibt weitere 643 Filialen über Joint-Venture-Partnerschaften.

Einrichtungsmetrik	Gesamtzahl
Gesamtausstattung	2,216
Direkt verwaltete Geschäfte	1,573
Joint-Venture-Partnergeschäfte	643

Immobilienverwaltung und -wartung

Extra Space Storage investiert erheblich in die Instandhaltung von Immobilien und die betriebliche Effizienz.

• Jährliches Budget für die Immobilieninstandhaltung: Ungefähr 180 Millionen US-Dollar
• Durchschnittlicher Renovierungszyklus der Anlage: Alle 5–7 Jahre
• Technologieinvestitionen in Facility-Management-Systeme: 12,5 Millionen US-Dollar pro Jahr

Digitale Plattform und Online-Mietverwaltung

Die digitale Plattform des Unternehmens unterstützt umfassende Online-Vermietungs- und Verwaltungsdienste.

Digitale Plattformmetrik	Leistung
Prozentsatz der Online-Vermietung	62 % der Gesamtmieten
Mobile App-Downloads	1,2 Millionen
Investition in digitale Plattformen	22 Millionen US-Dollar im Jahr 2023

Kundendienst und Support

Extra Space Storage unterhält eine robuste Kundensupport-Infrastruktur.

• Kundendienstmitarbeiter: 850
• Durchschnittliche Antwortzeit: 12 Minuten
• Jährliches Budget für Kundendienstschulungen: 3,7 Millionen US-Dollar

Marketing- und Kundengewinnungsstrategien

Das Unternehmen setzt umfassende Marketingansätze ein, um die Kundenakquise voranzutreiben.

Marketingmetrik	Wert
Jährliches Marketingbudget	95 Millionen Dollar
Ausgaben für digitales Marketing	68 % des gesamten Marketingbudgets
Neukundenakquisekosten	87 $ pro Kunde

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Portfolio an Lagereinrichtungen im ganzen Land

Im vierten Quartal 2023 betreibt Extra Space Storage 2.166 Self-Storage-Immobilien in 41 Bundesstaaten und Washington D.C. Gesamtmietfläche in Quadratfuß: 1,5 Milliarden Quadratfuß.

Eigenschaftsmetrik	Gesamtzahl
Gesamte Lagerkapazitäten	2,166
Staaten betrieben	41
Insgesamt vermietbare Quadratmeter	1,5 Milliarden

Fortschrittliche digitale Technologie und Reservierungssysteme

Zu den digitalen Plattformen gehören:

• Online-Reservierungssystem
• Mobile Anwendung zur Speicherverwaltung
• Digitale Zugangskontrollsysteme rund um die Uhr
• Cloudbasierte Immobilienverwaltungssoftware

Starker Markenruf

Marktführerkennzahlen:

• Platz 1 bei Self-Storage-REITs nach Marktkapitalisierung
• Marktkapitalisierung: 18,2 Milliarden US-Dollar (Stand Januar 2024)
• NYSE-Ticker: EXR

Erfahrenes Management-Team

Führungsposition	Jahre im Unternehmen
CEO Joseph Margolis	12+ Jahre
CFO P. Scott Stubbs	15+ Jahre

Robustes Finanzkapital

Finanzielle Leistungsindikatoren:

• Jahresumsatz (2023): 1,46 Milliarden US-Dollar
• Nettobetriebsergebnis: 967,2 Millionen US-Dollar
• Gesamtvermögen: 22,3 Milliarden US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 0,62

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Wertversprechen

Bequeme und sichere Selfstorage-Lösungen

Extra Space Storage bietet ab dem vierten Quartal 2023 2.121 Self-Storage-Immobilien in 41 Bundesstaaten und Washington D.C. an. Das Unternehmen verwaltet 1.547 Filialen direkt und 574 Filialen über Joint-Venture-Partnerschaften.

Immobilientyp	Anzahl der Eigenschaften	Prozentsatz
Allein im Besitz	1,547	72.9%
Joint Venture	574	27.1%

Flexible Mietoptionen für Privat- und Gewerbekunden

Extra Space Storage bietet mehrere Mietdauern mit den folgenden durchschnittlichen monatlichen Mietpreisen im Jahr 2023:

• Kurzzeitspeicher für Privathaushalte: 127 $ pro Monat
• Langzeitspeicher für Privathaushalte: 159 $ pro Monat
• Gewerblicher Speicher: 215 $ pro Monat

Wettbewerbsfähige Preise und transparente Mietbedingungen

Der durchschnittliche Umsatz des Unternehmens pro vermietbarem Quadratfuß betrug im vierten Quartal 2023 21,44 US-Dollar, bei einem Gesamtumsatz von 702,1 Millionen US-Dollar.

Große Auswahl an Einheitengrößen und Lagertypen

Größenbereich der Einheit	Typische Preisspanne
5x5 (25 Quadratfuß)	50–80 $/Monat
10x10 (100 Quadratfuß)	120–180 $/Monat
10x20 (200 Quadratfuß)	200–300 $/Monat

Umfassende Online-Management-Plattform

Die digitale Plattform von Extra Space Storage unterstützt:

• Online-Reservierungen: 65 % der Neuvermietungen im Jahr 2023
• Nutzer mobiler Apps: 2,1 Millionen aktive Nutzer
• Digitale Zahlungsabwicklung: 87 % der Transaktionen werden online abgewickelt

Gesamtmietfläche in Quadratmetern im 4. Quartal 2023: 327,4 Millionen Quadratmeter bei einer Auslastung von 96,2 %.

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattform

Extra Space Storage bietet eine umfassende Online-Plattform mit folgenden digitalen Funktionen:

• Online-Reservierungssystem mit 95,3 % digitaler Buchungsrate
• Mobile App verfügbar auf iOS- und Android-Plattformen
• Verfolgung der Geräteverfügbarkeit in Echtzeit

Digitale Plattformmetrik	Leistungsdaten
Monatliche Website-Besucher	3,2 Millionen
Mobile App-Downloads	1,7 Millionen
Online-Miettransaktionen	68 % der Gesamtmieten

Kundensupportkanäle rund um die Uhr

Extra Space Storage bietet Kundensupport über mehrere Kanäle:

• Telefonsupport: 1-800 dedizierte Kundendienstnummer
• Live-Chat rund um die Uhr verfügbar
• Reaktionszeit des E-Mail-Supports: Durchschnittlich 4 Stunden

Support-Kanal	Verfügbarkeit
Öffnungszeiten des Telefonsupports	24/7
Durchschnittliche Anruflösungszeit	12 Minuten
Kundenzufriedenheitsrate	88.6%

Personalisierte Online-Kontoverwaltung

Zu den Funktionen des digitalen Kontos gehören:

• Personalisiertes Dashboard
• Verfolgung des Zahlungsverlaufs
• Funktionen zur Einheitenverwaltung

Automatisierte Miet- und Zahlungssysteme

Automatisierte Systeme mit folgenden Fähigkeiten:

• AutoPay-Registrierung: 62 % der Kunden
• Online-Zahlungsabwicklung
• Automatische Mietverlängerungsoptionen

Treue- und Empfehlungsprogramme

Programmmetrik	Leistungsdaten
Empfehlungsrabatt	50 $ Gutschrift pro erfolgreicher Empfehlung
Teilnahme am Treueprogramm	47 % des Kundenstamms
Wiederholungskundenpreis	36.2%

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Kanäle

Unternehmenswebsite und mobile Anwendung

Ab dem vierten Quartal 2023 unterstützt die digitale Plattform von Extra Space Storage 100 % Online-Miet- und Reservierungsfunktionen. Das Unternehmen meldete im Jahr 2023 7,2 Millionen einzelne Website-Besucher.

Digitale Kanalmetriken	Daten für 2023
Einzigartige Website-Besucher	7,2 Millionen
Mobile App-Downloads	1,5 Millionen
Online-Miettransaktionen	68 % der Gesamtmieten

Standorte der physischen Lagereinrichtungen

Extra Space Storage betreibt zum 31. Dezember 2023 2.254 Lagereinrichtungen in 41 Bundesstaaten.

• Gesamte eigene/verwaltete Einrichtungen: 2.254
• Staaten mit operativer Präsenz: 41
• Verwaltete Gesamtquadratfläche: 1,5 Milliarden

Callcenter und Kundenservice

Das Unternehmen unterhält zentrale Kundensupportzentren, die monatlich etwa 500.000 Kundeninteraktionen abwickeln.

Kundendienstkennzahlen	Leistung 2023
Monatliche Kundeninteraktionen	500,000
Durchschnittliche Reaktionszeit	12 Minuten
Kundenzufriedenheitsrate	92%

Online-Marktplätze von Drittanbietern

Extra Space Storage lässt sich in mehrere Online-Plattformen integrieren und generiert im Jahr 2023 22 % der digitalen Reservierungen über Drittkanäle.

• Partnerschaften mit Sparefoot
• Google-Speichereinträge
• Speicherempfehlungen von Yelp

Direktmarketing und Werbung

Das Unternehmen investierte im Jahr 2023 42,3 Millionen US-Dollar in Marketingausgaben und konzentrierte sich dabei auf digitale und traditionelle Werbekanäle.

Marketingkanal	Zuteilung 2023
Digitale Werbung	65 % (27,5 Millionen US-Dollar)
Traditionelle Medien	35 % (14,8 Millionen US-Dollar)

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Kundensegmente

Privatkunden

Extra Space Storage bedient im vierten Quartal 2023 1,9 Millionen Privatkunden in den Vereinigten Staaten. Die durchschnittliche Auslastung durch Privatkunden beträgt 92,7 %.

Kundentyp	Prozentsatz des Wohnsegments	Durchschnittliche Monatsmiete
Einfamilienhäuser	48%	$156
Wohnungsbewohner	37%	$134
Hausbesitzer	15%	$178

Kleinunternehmer

Das Kleinunternehmenssegment macht mit rund 418.000 Geschäftskunden 22 % des Kundenstamms von Extra Space Storage aus.

• Durchschnittliche monatliche Miete für Geschäftsspeicher: 245 $
• Belieferte Branchen: Einzelhandel, professionelle Dienstleistungen, Baugewerbe
• Typische Lagereinheitengrößen: 10x10 bis 20x20

College-Studenten

Das Studentensegment umfasst 12 % der Gesamtkunden, etwa 228.000 Studenten.

Region	Durchdringung des Schülerspeichers	Durchschnittliche Speicherdauer
Nordosten	18%	4,2 Monate
Mittlerer Westen	14%	3,8 Monate
Westen	15%	4,0 Monate

Militärpersonal

Militärkunden machen 8 % des Kundenstamms von Extra Space Storage aus, was etwa 152.000 Kunden entspricht.

• Durchschnittliche monatliche Miete für Militärkunden: 189 $
• Typische Lagerdauer: 6-12 Monate
• Standorte in der Nähe von Militärstützpunkten: 37 Staaten

Individuen im Wandel

Das Übergangssegment repräsentiert 20 % der Kunden, etwa 380.000 Personen.

Übergangstyp	Prozentsatz	Durchschnittliche Speicherdauer
Hausrenovierung	42%	3,5 Monate
Umzug	33%	4,2 Monate
Verkleinerung	25%	5,1 Monate

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Kostenstruktur

Immobilienerwerb und -entwicklung

Im Jahr 2023 gab Extra Space Storage Inc. 461,5 Millionen US-Dollar für den Erwerb und die Entwicklung von Immobilien aus. Das gesamte Immobilieninvestitionsportfolio des Unternehmens wurde auf 19,4 Milliarden US-Dollar geschätzt.

Kostenkategorie	Betrag (2023)
Immobilienerwerbe	350,2 Millionen US-Dollar
Immobilienentwicklung	111,3 Millionen US-Dollar
Gesamte Immobilieninvestition	19,4 Milliarden US-Dollar

Wartung und Betrieb der Anlage

Die Betriebskosten für die Wartung der Lagereinrichtungen beliefen sich im Jahr 2023 auf insgesamt 237,6 Millionen US-Dollar.

• Reparatur- und Wartungskosten: 82,3 Millionen US-Dollar
• Nebenkosten: 54,7 Millionen US-Dollar
• Sicherheitssysteme: 41,2 Millionen US-Dollar
• Reinigungs- und Hausmeisterdienste: 59,4 Millionen US-Dollar

Technologieinfrastruktur

Extra Space Storage investierte im Jahr 2023 42,5 Millionen US-Dollar in die Technologieinfrastruktur.

Technologie-Investitionsbereiche	Ausgaben
IT-Systeme	18,7 Millionen US-Dollar
Entwicklung digitaler Plattformen	14,3 Millionen US-Dollar
Cybersicherheit	9,5 Millionen US-Dollar

Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf 87,3 Millionen US-Dollar.

• Digitales Marketing: 38,6 Millionen US-Dollar
• Traditionelle Werbung: 24,7 Millionen US-Dollar
• Kundenempfehlungsprogramme: 12,4 Millionen US-Dollar
• Markenentwicklung: 11,6 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Die Gesamtvergütung der Mitarbeiter belief sich im Jahr 2023 auf 215,4 Millionen US-Dollar.

Vergütungskategorie	Betrag
Grundgehälter	152,3 Millionen US-Dollar
Leistungsprämien	31,6 Millionen US-Dollar
Leistungen und Versicherung	31,5 Millionen US-Dollar

Gesamtkostenstruktur für 2023: 1,044 Milliarden US-Dollar

Extra Space Storage Inc. (EXR) – Geschäftsmodell: Einnahmequellen

Monatliche Lagermietgebühren

Für das vierte Quartal 2023 meldete Extra Space Storage Gesamtmieteinnahmen von 748,2 Millionen US-Dollar. Die durchschnittlichen monatlichen Mietpreise variieren je nach Standort und Wohneinheitsgröße und liegen zwischen 50 und 300 US-Dollar pro Monat.

Einheitsgröße	Durchschnittlicher monatlicher Mietpreis
5x5 (Klein)	$50 - $75
10x10 (Mittel)	$100 - $175
10x20 (Groß)	$200 - $300

Verkauf von Versicherungsprodukten

Extra Space Storage generiert zusätzliche Einnahmen durch eine obligatorische Mieterversicherung mit einer durchschnittlichen monatlichen Versicherungsgebühr von 10 bis 15 US-Dollar pro Einheit.

• Gesamter Versicherungsumsatz für 2023: 89,4 Millionen US-Dollar
• Versicherungsdurchdringungsrate: Ungefähr 65 % der Kunden

Strafen für verspätete Zahlungen

Verspätungsgebühren generieren zusätzliche Einnahmen mit Standardstrafen:

• Anfängliche Verspätungsgebühr: 15–25 $
• Zusätzliche Verzugsgebühren nach 30 Tagen: Bis zu 10 % des ausstehenden Betrags
• Geschätzte jährliche Einnahmen aus Verzugszinsen: 22,5 Millionen US-Dollar

Verkauf von Zusatzprodukten

Zusätzliche Einnahmen aus Umzugsmaterial und Lagerzubehör:

Produktkategorie	Durchschnittliche Preisspanne
Umzugskartons	$3 - $15
Packband	$5 - $10
Luftpolsterfolie	$10 - $25

Langfristige Speicherverträge

Langfristige Verträge sorgen für stabile Einnahmen mit ermäßigten Tarifen:

• Rabatt auf 6-Monats-Vertrag: 5-10 %
• 12-Monats-Vertragsrabatt: 10-15 %
• Anteil langfristiger Verträge: Ungefähr 40 % des gesamten Kundenstamms

Gesamtumsatz für 2023: 1,2 Milliarden US-Dollar

Extra Space Storage Inc. (EXR) - Canvas Business Model: Value Propositions

Extra Space Storage Inc. provides convenient, secure, and flexible self-storage solutions designed to meet diverse personal and business needs across its extensive footprint.

For third-party owners, a key value proposition is the best-in-class, data-driven revenue management system, which leverages the scale of Extra Space Storage Inc.'s operations to drive partner return on investment.

The success of this management platform is quantifiable through growth metrics as of the third quarter of 2025:

Metric	Value as of Q3 2025 (September 30, 2025)	Context/Comparison
Ending Same-Store Occupancy	93.7%	Compared to 93.6% as of September 30, 2024.
Third-Party Managed Stores Added (Q3 2025)	95 stores	Resulting in a net addition of 62 stores.
Total Third-Party Managed Stores	1,811 stores	Plus 411 stores in unconsolidated joint ventures, totaling 2,222 managed stores.
Management Fees and Other Income (Q3 2025)	$32.54 million	Compared to the average estimate of $31.59 million by four analysts.
Same-Store Revenue (Q3 2025)	Decreased by (0.2)%	Year-over-year change.
Same-Store Net Operating Income (NOI) (Q3 2025)	Decreased by (2.5)%	Year-over-year change.

The focus on operational excellence helps maintain high utilization, evidenced by the reported ending same-store occupancy of 93.7% as of Q3 2025. This high rate is a direct result of effective revenue management strategies.

Extra Space Storage Inc. also delivers a seamless digital experience, supporting reservations, payments, and access through its technology infrastructure. The company's financial reporting highlights revenue streams from tenant reinsurance, which was $90.34 million in Q3 2025, suggesting a digital component to policy management and claims processing.

The offering caters to diverse needs through various facility types, including:

• Climate-controlled units for sensitive belongings.
• Specialized vehicle storage like boat storage.
• Dedicated space for RV storage options.

The company's Core Funds From Operations (FFO) per share for Q3 2025 was $2.08, showing consistent earnings generation even while navigating market conditions.

Extra Space Storage Inc. (EXR) - Canvas Business Model: Customer Relationships

You're looking at how Extra Space Storage Inc. keeps its millions of customers engaged and satisfied in a competitive market. Honestly, their approach leans heavily on tech to make the customer journey feel seamless, even if the underlying operations are complex.

Automated and self-service online reservation and payment systems.

Extra Space Storage Inc. is pushing hard on automation, making sure you can handle most needs without talking to a person. Their AI strategy for 2025 centers on enhancing the digital presence, which means rolling out new tools for customers right on the website and through digital channels. Key initiatives planned for 2025 include implementing natural language search on the website, developing AI-powered chatbots, and creating intelligent virtual agents for the call center. These projects are specifically designed to improve customer experience and increase conversion rates. The company uses a proprietary revenue management system, refined constantly through testing, to drive pricing, discounts, and advertising strategies, tailoring them to each market, property, and unit type with real-time updates. As of May 2025, the company serves over 2.2 million customers, indicating a massive user base interacting with these digital touchpoints.

Here's a quick look at the scale of their digital and operational footprint as of late 2025:

Metric	Value as of Late 2025	Date Reference
Total Customers Served	Over 2.2 million	May 2025
Ending Same-Store Occupancy	93.7%	September 30, 2025
Average Same-Store Occupancy (Q3 2025)	94.1%	Q3 2025
Total Stores Managed (Third-Party + JV)	Over 2,114 (as of Q1 2025)	March 31, 2025
Total Stores on Third-Party Platform	2,222	September 30, 2025

Centralized call center support for sales and customer service.

When you do need to call, the support structure is centralized. The investment in AI is directly aimed at augmenting this team; the plan includes creating those intelligent virtual agents to handle initial inquiries, which should help streamline operations. To ensure the human agents are sharp, Extra Space Storage Inc. focused on training; for instance, in 2024, they added approximately 60 hours of additional training for new call center team members. They also have a dedicated team monitoring cybersecurity risks around the clock, which is a critical, though unseen, part of customer service security.

Consistent, professional service across all owned and managed stores.

The promise is a consistent experience across the entire portfolio, which, as of late 2025, spans over 4,000+ stores. Consistency is supported by operational discipline, which you can see reflected in the occupancy numbers. For the third quarter ended September 30, 2025, ending same-store occupancy was 93.7%, up slightly from 93.6% the prior year. This high occupancy is a direct indicator of customer satisfaction with the offering and service quality. Furthermore, the focus on driving rates shows confidence in the value proposition. In Q3 2025, new customer rate growth was over 3% year-over-year net of discounts, and excluding those strategic discounts, the same-store new customer rate growth was approximately 6%.

Targeted digital communication and email campaigns for existing tenants.

Extra Space Storage Inc. doesn't just acquire customers digitally; they manage them digitally too. They use their data science leadership to inform pricing, discounts, and advertising strategies. These strategies are highly tailored, meaning communications to existing tenants are likely segmented based on their location, unit type, and historical behavior. The proprietary revenue management system allows for these targeted communications and pricing adjustments in real-time based on market data. This data-driven approach helps bridge the gap between improving new customer rates and seeing that flow through to overall revenue acceleration.

• Leverage customer, market, and historical data for pricing and discounts.
• Tailor strategies to each market, property, and unit type.
• Use real-time updates to refine communication and offers.

Finance: draft the 13-week cash view by Friday.

Extra Space Storage Inc. (EXR) - Canvas Business Model: Channels

The Channels block for Extra Space Storage Inc. centers on a high-volume, omnichannel approach, blending a massive physical footprint with sophisticated digital transaction capabilities.

The core channel remains the physical self-storage facilities. As of October 23, 2025, Extra Space Storage Inc. operated 4,287 stores across the United States. This physical network spans 43 states and Washington, D.C., as reported on June 30, 2025. The scale is significant, with properties located in 98 of the 100 largest metro markets in the U.S.. These locations offer approximately 2.9 million units across roughly 321.5 million rentable square feet as of mid-2025.

You can see the geographic concentration of this physical channel below:

State/Territory	Number of Stores (as of Oct 2025)	Percentage of Total Stores
Florida	558	13%
Texas	558	13%
California	425	10%

The digital interface is critical for lead generation and direct transaction completion. The company website, extraspace.com, functions as the primary e-commerce platform for reservations and rentals. For 2025, key digital enhancements included the implementation of natural language search on the website to improve customer interaction. While 2024 data showed 23.2 million web visits, the digital channel is clearly a major driver of volume. The mobile app supports online booking and account management, complementing the web experience.

The national call center acts as a high-touch digital extension, handling reservations and inquiries. As of the latest reports, customers can connect with one of over 250 call center team members for assistance. Strategic initiatives for 2025 included developing AI-powered chatbots and intelligent virtual agents for the call center, specifically aimed at improving conversion rates.

Digital marketing and SEO efforts fuel traffic to these online channels. The company maintains a data-driven approach, leveraging SEO, pay-per-click advertising, and brand management to attract prospects.

• Marketing allocation in 2024 was approximately $34 million.
• Location-based targeting, like ZIP code targeting, achieved a 184% ROI.
• Targeted ad testing grew the Click-Through Rate (CTR) in a high-volume ad group by 113%.
• Overall CTR increased by 32% through the use of ad customizers.

The physical and digital channels work together, with the current same-store square foot occupancy hovering around 93.7% as of September 30, 2025.

Extra Space Storage Inc. (EXR) - Canvas Business Model: Customer Segments

You're looking at the core groups Extra Space Storage Inc. serves, which is key to understanding their revenue stability. The customer base is broad, spanning individuals needing temporary space to sophisticated property owners looking for management expertise.

The largest portion of the business still revolves around the individual renter, covering both short-term needs like moving or seasonal storage, and longer-term decluttering. The company's operational success is directly tied to keeping these units occupied. As of September 30, 2025, the ending same-store occupancy was reported at 93.7%. Extra Space Storage Inc. serves approximately 2.4 million customers who trust them with their storage needs as of early 2025.

For business customers, the offering is straightforward: secure space for inventory, equipment, or document retention. While the company doesn't break out revenue specifically for business versus residential renters, the overall high occupancy reflects strong demand across both user types. The company operates across 43 states and Washington, D.C..

The ManagementPlus segment targets third-party property owners who want to leverage the Extra Space Storage Inc. brand and operational systems without selling their assets. This is a significant growth driver and a source of fee revenue. As of September 30, 2025, the company was managing 1,811 stores for third parties. This represented a net addition of 62 stores to the platform during the third quarter of 2025.

Real estate investors and developers are served through two primary channels: joint ventures and the bridge loan program. The joint venture structure allows Extra Space Storage Inc. to participate in the ownership and growth of properties alongside partners. As of September 30, 2025, the company managed 411 stores in unconsolidated joint ventures. The bridge loan program also supports investors, providing financing for real estate acquisition or development. During the three months ended September 30, 2025, the company originated $122.7 million in mortgage and mezzanine bridge loans. The bridge loan portfolio held a value of $1.4 billion as of March 31, 2025.

Here's a quick look at the scale of the portfolio across these ownership and management structures as of mid-to-late 2025:

Segment Type	Count/Metric	As of Date
Total Properties Operated	4,179	June 30, 2025
Wholly Owned Properties	2,016	June 30, 2025
Third-Party Managed Stores (ManagementPlus)	1,811	September 30, 2025
JV Owned Properties	411	September 30, 2025
Total Bridge Loans Originated (Q3 2025)	$122.7 million	Three Months Ended September 30, 2025

It's important to note the shift in the managed portfolio. As of December 31, 2024, third-party managed properties represented 39% of the total 4,011 store portfolio. The focus on growing the managed segment is clear, as the total number of managed stores (JV plus third-party) reached 2,222 as of September 30, 2025.

The company's operational efficiency, which benefits all customer segments, is reflected in its financial performance metrics:

• Same-store revenue for the nine months ended September 30, 2025, was flat compared to the prior year.
• Core FFO per diluted share for the nine months ended September 30, 2025, was $6.13, a 0.7% increase year-over-year.
• The company paid a quarterly dividend of $1.62 per share in Q3 2025.

Finance: draft 13-week cash view by Friday.

Extra Space Storage Inc. (EXR) - Canvas Business Model: Cost Structure

You're looking at the major drains on Extra Space Storage Inc.'s cash flow, the costs that keep the lights on and the properties maintained. The cost structure is heavily weighted toward real estate ownership expenses and servicing its debt load.

Significant property operating expenses are a constant, covering the day-to-day running of a massive portfolio. This includes utilities and property taxes, which are substantial line items for any large real estate holder. For the year ended December 31, 2024, total same-store operating expenses reached $408,927 thousand.

The interest expense on debt is a critical component. Extra Space Storage Inc. carries a considerable amount of leverage, and servicing that debt is a major cost. As of the third quarter of 2025, the combined weighted average interest rate on its debt stood at 4.4%, reflecting a mix of fixed and variable rates.

General and administrative costs cover the corporate overhead necessary to manage a national platform, including centralized IT, finance, and executive functions. While these costs are necessary for scale, they are distinct from the property-level operating expenses.

Capital expenditures are essential for maintaining asset quality and competitive positioning. This includes routine maintenance and strategic investments like sustainability projects. In 2024, Extra Space Storage Inc. invested $30.1 million specifically into solar installations across its facilities. Furthermore, the company invested $66 million in 2024 for its comprehensive redevelopment program, which covers expansions and rebuilds.

Marketing and advertising spend is an ongoing cost to drive new customer traffic and maintain high occupancy. This spend supports the dynamic digital marketing strategy aimed at targeting high-quality prospects.

Here's a look at some of the key cost-related figures from the 2024 fiscal year and the latest reported debt metric:

Cost Category/Metric	Period/Date	Amount/Rate
Total Same-Store Operating Expenses	Year Ended December 31, 2024 (in thousands)	$408,927
Property Taxes (Same-Store)	Year Ended December 31, 2024 (in thousands)	$36,219
Insurance (Same-Store)	Year Ended December 31, 2024 (in thousands)	$18,718
Solar Installations Capital Expenditure	Year Ended December 31, 2024 (in millions)	$30.1 million
Redevelopment Investment	Year Ended December 31, 2024 (in millions)	$66 million
Combined Weighted Average Interest Rate on Total Debt	As of September 30, 2025	4.4%
Fixed-Rate Debt to Total Debt Percentage	As of September 30, 2025	83.8%

The cost structure also involves specific operational expenses that impact Net Operating Income (NOI). You can see how these expenses stack up against revenue:

• Utilities and miscellaneous other store expenses are bundled within the total same-store operating expenses.
• General office expenses, computer, bank fees, and credit card merchant fees are also included in the same-store operating expense total.
• The company's liquidity needs include operating expenses, monthly debt service payments, and recurring capital expenditures.

Finance: draft 13-week cash view by Friday.

Extra Space Storage Inc. (EXR) - Canvas Business Model: Revenue Streams

Extra Space Storage Inc.'s revenue streams are built on a foundation of direct property ownership and operation, supplemented by high-margin ancillary services and financial activities. The total revenue for the twelve months ending September 30, 2025, was reported at $3.342B.

The primary revenue driver remains the rental income generated from the company's wholly owned and joint venture self-storage portfolio. This core business is supported by the scale achieved through its management platform, which provides operational efficiencies and a pipeline for future acquisitions.

The key components of the revenue model as of late 2025 include:

• Rental income from owned and joint venture self-storage units.
• Management fees from the 1,811 third-party managed stores as of September 30, 2025.
• Tenant insurance income, a strong ancillary business.
• Interest income from the bridge loan program (approx. $1.4 billion outstanding as of March 31, 2025).
• Full-year 2025 Core FFO guidance midpoint of approximately $8.16 per share.

The ancillary and financial services streams are designed to complement the core real estate operations, often providing fee income with lower capital requirements. For instance, income from third-party management and tenant insurance combined to produce $182 million in 2024.

The Bridge Loan Program is a significant source of interest income and a strategic tool. During the third quarter of 2025, Extra Space Storage Inc. originated $122.7 million in bridge loans. The outstanding balance of these bridge loans was approximately $1.4 billion at the close of the first quarter of 2025.

Here's a quick look at some key financial figures relevant to the revenue outlook:

Metric	Value	Reporting Period/Context
Trailing Twelve Months Revenue	$3.342B	Ending September 30, 2025
Third-Party Managed Stores	1,811	As of September 30, 2025
Bridge Loans Outstanding Balance	Approx. $1.4 billion	As of March 31, 2025
Q3 2025 Bridge Loan Originations	$122.7 million	Three months ended September 30, 2025
2025 Core FFO Guidance Midpoint	Approx. $8.16 per share	Full Year 2025 Guidance (as of October 2025)

The management platform's growth directly feeds fee revenue and bolsters the acquisition pipeline. As of June 30, 2025, the total managed portfolio, including third-party and joint venture stores, stood at 2,163 stores. The third-party component alone reached 1,749 stores by that date.

The company's guidance for the full year 2025 suggests continued focus on operational stability despite market pressures:

• Same-store revenue growth guidance: -0.50% to 1.00%.
• Same-store expense growth projection: 4.00% to 5.00%.
• Same-store NOI growth projection: -2.75% to 0.00%.

Finance: draft 13-week cash view by Friday.