Well thought I'd finally post something to this board but I've read some of the posts and it appears most of the investors or people here just "Chew up newcomers" so I'll try to be careful.
Yep..I'm in the business but prefer to remain anomoyous (sp). Been doing this 20 years. As for the pricing issue well I own them so I can price it where it needs to go but prefer not to do that. Will tell you that Mini has helped create a position of lower prices and profits in the markets where they exist because of their initial agressive marketing plan. But after they're in the market they have poor price stamina and service.
Our pricing is now $60 for Walmarts for a 40'...they don't use 20's much. This is in the Southeast. Our 20's go for $50/month. Used to be $90 when Mini came in but we elected to hold off cutting price. But they DID impact us at first and got a foothold. So WE decided it was just as cheap to put them out for SOMETHING (we have not debt as most in our industry) so the tide has turned. Yes we paint our units and have about a 13 month payback.
Went to a restaurant the other evening and the waiter was a guy in his early 20s. We ended up talking about my business and it turns out he had worked for Mini for 2 years since they moved into our area! Had just left them a month earlier...was waiting tables prior to moving out West. It wasn't busy so he sat down and told me about their inner workings.
I won't put them down but can say they ARE now having trouble in most established areas and its just starting. DANGER may not be far from wrong.
I saw some earlier competitor post a hundred messages or so back...and how you guys spit him out...but his story is similar to mine. And nope...I'm not him or any other previous poster.
Yep the trailers are slow now...but not because of Mini. You see they have always been used for MANUFACTURING INVENTORY excess and wharehousing. Manufacturers use them for the loading dock base...containers don't work there. And if you have followed our economy closely you know what happened to Manufacturing about 3 years ago. So it goes with the trailers. BUT...that too will pass.
Well I'll be here to field some questions if you will be nice. I'm not too technical but do understand simple math. Don't care much about their stock price. And yes they did talk to me about buying when they came to my area. Sure am glad I didn't hold their stock..back then it was $36 or so. Just don't make the questions personal or asking a lot of detail about my business or where I am. It suffices to know I'm in a Growing area still in this economy. I do know a lot about it however since I've been around awhile.
It is a GREAT business to be in! IF you own the company! Oh yea...i just bought 50 containers this past week. $500 each. I never did figure out where the $3000/unit came from that Mini says it costs them! They didn't want to give ME that! Heeeee
So if you'll be gentle I'll try and answer questions and respond!
I've been in the business about the same length of time.
They would'nt offer you $3,000 a unit.
According to Mobile Mini, the cost of every container includes changing the doors with new doors equipped with their special locking mechanizm. I've noticed that they are not that sturdy compared to the regular doors. Maybe hollow framing. Alot of these national companies are buying brand new containers out of China. MSG is also looking to expand again.
Hi! Mr. Barnes,
Yes and No! I visit this thread because I have some of my hard-earned money at risk with MM. I am neither a sophisticated investor nor a genius. I learn from what I read and from what I do. I been burned a lot more from what I do than from what I read.
I do not mind 'nay' or 'pro' arguments as long as they are based in fact.
I also can see how some investors......myself included, can let their decisions be made by their emotions.
I also visit to get my daily dose of humor as the two sides bash each other.
And for all those who don't like my suds. Old Mil was voted the best beer in America in 99'....says so right on the can....he he! I see no reason to buy a something really expensive just so I can boast about it when the pleasure it brings is so temporary yet tastes so good!
So you visit these threads ONLY to allow anonymous writers to pack your head about your investments?
Does that *really* make sense to you?
I visit these threads in the hopes that I will find as many of the 'nay' arguments as I can so that I can recheck my facts and my judgements regarding my investments and thereby reconfirm my investment thesis.
(So far, my efforts w/r/t MINI have failed to convince me that there is 'substantial' risk in the stock right now. On the other hand, I struggle to come up with a compelling reason to buy at this level, as well.)
But back to my point in writing: I can't think of a faster way to lose one's kingdom than to banish ALL who would dare point out to you that your robe is - shall we say, rather threadbare. From my perspective, those folks are often a king's most valuable subjects.