Some entrepreneurs create alternative options if their new ventures start to wobble—an escape plan, so to speak, that they can use when things aren’t going the way they hoped.
For Jason Black, joint owner with his mother, JoAnn Antonell, of Affordable Storage Solutions, having a Plan B was never an option. He has had a business mindset since he began his first real estate business venture back in 2008. His latest undertaking in corporate real estate is Affordable Storage Solutions, a company he began in 2017 with the purchase of a distressed property in Niles, Ohio. The location consisted of three buildings totaling 11,000 square feet acquired in a court order repossession auction.
Since then, he has expanded the business to a total of six facilities, with locations in Andover, Champion, Leavittsburg, Niles, Southington and Warren.
“We currently cater to the suburban and rural areas,” Jason explains, “and while our facilities are smaller in size, our unit mix is larger, ranging from the smallest at 5X5 to the largest at 20X40.”
The customer base is a mix of commercial and residential. On the business side, renters include lawn care and construction companies needing a secure place for their large equipment to distributors seeking an alternative to expensive warehouse space. Homeowners and individuals turn to Affordable Storage to house their large “toys” such as RVs, campers and boats, as well as for short-term and long-term moving needs.
Family is Key
While there are storage facilities scattered throughout Northeast Ohio, Jason feels that Affordable Storage Solutions has several unique qualities that set it apart from its competitors, not the least of which is that it is family owned and operated.
Anyone who knows Jason knows that family is the most important thing and that has been a key driver in the growth and success of the business. “When you work with a company of all owners, the tenants ultimately get a better experience and our family always does right by our clients,” he states. “My mother and I work together as a dynamic team; her warm personality, attention to detail and problem solving skills make her excellent at running the day-to-day operations. I focus more on the development side, finding the next location,
building out the plans and making sure we stay competitive in our pricing models.”
In addition to his mother, Jason’s grandparents, Eleanor and Terry Austin, also play a role in the business. That family atmosphere not only makes working in the business fun, but also provides a unique culture and integrity that will fuel Affordable Storage Solutions as they continue to expand their business footprint.
Safety and security for its clients are key features. All sites are well-lit with security cameras and offer 24/7 access—the latter at no additional charge—and nearly all locations are gated with security keypads. From the start Jason also recognized the importance of investing in technology, everything can be handled online or by phone, which proved to be an asset when Covid hit. All customers can go through the online rental process without needing in-person interaction or contact.
While there’s no doubt that the company has been on a positive growth streak since it started, owning and operating a storage facility business was not always the apparent career path to Jason, but being an entrepreneur was.
A graduate of Allegheny College with a business management degree, Jason has a full-time position in financial management. He also holds an Ohio real estate license, having entered that industry in 2018 and owns residential and commercial buildings. This career
path was undoubtedly influenced by his early years working with his grandmother who was involved in real estate investments.
“There’s no greater responsibility than investing your family’s money and when I was ready to start my real estate flipping business, those three individuals— my mother and grandparents—were my first three investors,” Jason says, adding that having a support network is critical. “Mentors are important. I didn’t get into business alone and having the support and advice of family like my sister Angela and her husband Shawn was huge.”
Making Things Happen
Ultimately, Jason expanded his real estate portfolio to include commercial self-storage, purchasing the Niles location
in 2017.
It was the Niles location that connected him with the commercial side of Farmers National Bank. Shawn Pompelia, Private Banking Senior Relationship Manager at Farmers, credits Joe King, Mortgage Loan Officer, as the “rainmaker” who initiated the relationship between Jason and the bank.
Jason had been referred to King when he was seeking a mortgage loan. “He also talked about the different business ventures he was interested in getting into, so I introduced him to Pete Noll, Commercial Lending Relationship Manager, for the sales storage business,” explains King.
Financing the Niles location was tricky, since the bank had to work off projections, explains Noll. “When he purchased the location, it had no tenants and theproperty itself needed substantial repairs. Jason is very analytical, and he did a great job at giving me those projections. I closed the first loan with Affordable Storage in December 2017 and it opened the first quarter of the following year.”
It was Pompelia who brought Jason into the Private Banking program for all his personal needs.
“This is just a great example of how Farmers interacts. We’re always making those connections for our clients,” says Pompelia. “We work together as a team to do what’s in their best interest.”
“Businesses are built on relationships and the one I have with Farmers is a great one. It's just always worked out,” says Jason. “Having them along the way to advise and course-correct where needed has been a huge help.”
The relationship has continued to grow, with all three men praising Jason’s business acumen and attitude. “Jason is always looking to make things happen,” says Noll. “He’s a real go-getter.”
Expanding His “Hat Collection”
To be successful in business, Jason says, “You have to constantly be looking, searching for industry trends as well as new opportunities. You always want to have something in the pipeline so you’re ready to buy, sell, or roll into something else. Don’t be afraid to fail, those are the best lessons you’ll learn,” he advises. “Find your passion and go all in. Have a ‘No Plan B’ mentality.”
While the company has been successful to date, Jason is always looking for ways to expand his operation, both physically and geographically. His entrepreneurial attitude is undoubtedly a key part of what keeps him thinking of ways to expand, but there is perhaps a bigger and more personal driver that plays a role.
In addition to all his business responsibilities, the 38-year-old has a new “hat” to wear: that of father. This past July, Jason and his wife Natalie welcomed their first child, daughter Serafina. Time will tell if his entrepreneurial DNA has been passed down to the next generation. Both Jason and his wife are happy with the way this latest “start-up” is progressing.