---
title: Overview | Value Based Pricing
slug: overview-or-value-based-pricing
docTags:
createdAt: 2025-02-11T21:22:24.799Z
---
Traditional value-based pricing in the self-storage industry centers around factors that influence the **customer perception of value** rather than just the size of the unit.
Similar units (type, size, and amenity) are grouped together creating a "tiered approach" to price the units. This is similar to what a fast food restaurant offers with their "value menus".
**It is also often referred to as:**
- Good, Better, Best pricing (GBB)
- Tiered Pricing (storEDGE feature name).
### How are Units Grouped?
Units are first grouped by: storage type, size and amenities.
| **Storage Types** | **Sizes** | **Amenities** |
| ----------------------------------------------------------------------- | ---------------------------------------------------- | ----------------------------------- |
| Climate Controlled
Drive Up Units
Indoor Storage
Parking | 5' x 5'
10' x 10'
10' x 20'
20' x 30' | Climate Controlled
Floor
|
### How are Units Grouped for Value Based Pricing?
After units are grouped by their type, size and amenities - units can then be assigned "tiers".
Customers are willing to pay more for units that offer greater convenience.
The primary mechanism of pricing the units are by the **proximity** of where the unit is located with in the facility. This includes:
- **Proximity to the entrance**
- **Proximity to the elevator: **ground-floor units usually cost more than upper-floor units.
- **Drive-up access vs. interior access: **drive-up units often command higher rates due to ease of loading/unloading.
## Maximize Profit: Offer More Than Just Convenience
Self-storage pricing has evolved, with value-based models gaining traction in recent years. However, most facilities still only differentiate units by access convenience—whether it's proximity to an entrance or elevator. While this adds value, you can take it a step further by packaging additional services and amenities that not only improve customer satisfaction but also drive higher profits.
**Overview**
Storagely's Value-Based Pricing feature goes beyond traditional self-storage pricing models by allowing facility owners to not only adjust pricing based on unit attributes but also bundle additional services to maximize revenue. Unlike standard pricing tools that focus solely on unit size or location, Storagely’s feature provides a **fully customizable pricing structure** that enhances both profitability and customer experience.
**Key Features**
- **Dynamic Pricing Adjustments**: Set different prices for units based on location within the facility, demand, and amenities.
- **Bundled Offerings**: Unlike most competitors, Storagely allows businesses to create packages that include add-on services such as tenant insurance, upgraded locks, smart storage units, concierge services, and 24/7 access.
- **Automated Pricing Management**: The system automatically adjusts pricing tiers based on demand trends and occupancy rates.
**How Storagely Stands Out**
- **Comprehensive Bundling**: Most pricing tools focus only on adjusting unit prices, while Storagely enables facilities to **package** valuable add-ons that enhance customer experience and drive more revenue.
- **Real-Time Adjustments**: Unlike static pricing models, Storagely continuously updates pricing based on real-time market conditions.
- **Seamless Integration**: Facility owners can easily implement and adjust pricing strategies directly within the Storagely dashboard, ensuring a smooth and intuitive experience.
**Where to Find It**
Storagely’s Value-Based Pricing feature is integrated into the **rental system platform**, allowing facility owners to efficiently manage pricing tiers and bundled offerings through an easy-to-use dashboard.
By offering a truly **flexible and competitive** pricing model, Storagely empowers self-storage businesses to capture more value while providing a tailored experience for customers. 🚀