Companies and Leaders, Doing Right By Their Customers and Employees
Neighbor is on a mission to help people “store your stuff with a neighbor”. They have a simple, yet brilliant concept--match people’s empty space with their neighbors’ extra stuff, all at a savings over traditional storage units. Every match brings people and neighborhoods closer together too. Companies are having to pivot, innovate, and get creative. Some are leading by example. Each week at reachXOD, we highlight companies who are going above and beyond to connect to their employees and customers during a time of uncertainty. Neighbor is basically the Airbnb of storage. Why didn’t we think of that?
Since its 2017 launch, the company has experienced nearly 500 percent annual growth and steady expansion. Neighbor’s Utah-based founders Colton Gardner, Joseph Woodbury and Preston Alder saw a gap in the market-- or should we say 2 billion square feet of storage space that already exists and thought to themselves “rather than building all this excess space, why not use space we already have? It saves a lot of money, makes it cheaper for renters and more accessible since many facilities are in industrially zoned areas.”
Neighbor is ahead of the game when it comes to protecting your stuff-- it guarantees all of your items up to $25,000 at no additional charge. They also provide $1 million of general liability protection to each “host” so they can feel safe about renting out their space to others. What makes Neighbor even more appealing is the cost of storage itself. It’s about half of traditional storage costs, plus you have the comfort of knowing it’s close by or even in your own neighborhood. In just 3 years, Neighbor has grown to all 50 states by mostly word of mouth and has tripled its revenue according to its founder, Joseph Woodbury.
At reachXOD, we admire Neighbor as a business and brand. We are a company that helps businesses innovate, and we are so impressed with Neighbor’s quick expansion and needs-based business plan. Take initiative. Be proactive and transparent. Be human. Look for the heroes. Learn from their journeys.
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