In 2014 over 450,000 businesses were started in the United States. The constant economic growth post the 2008 economic crisis has been showing its face for a while now. One of the costliest expenses in any industry is space. Whether it is for storage, office or a production line, enough space is required for our enterprise to function properly. The ever-increasing prices of real estate make this a problem. Even more so for small businesses that are just getting started. The typical square footage being rented for a new small business usually revolves around 1,000. With the introduction of desks, electronic equipment, cubicles, and other office necessities, we do not have a lot of room left to work with. And renting additional space is not an option, again, because of the expenses involved. Here are the key points on how renting proper, adequate storage space is beneficial to our bottom line.
1. Optimizing space
When we lease some space, we need enough of it to house everything and everyone we need for business to run properly. And these are just the skeleton crew and the infrastructure. Even then, at the end of the day, we are left with very little room for anything else. In our beginner stage at least, it would not be a financially sound idea to rent additional space. This is the point where we can consider renting dedicated storage units. These are typically characterized by lower monthly rent, which makes it perfect for pure storage. Here we can leave advertising materials, filing cabinets, supplies of any kind, raw materials, desks, chairs, you name it. It is a good solution if you have a lot of assets of any kind that are not going to be immediately used.
2. Safety first
Another advantage of storage units over our garage is the level security it provides. Most facilities have constant video surveillance, guard personnel, pin-locks, perimeter fencing, and much more. The site manager will be onsite most of the time for any questions or need we might have. Also, we can distribute different pin codes for the locks on our units. What this will do, is provide us with detailed logs on who, when, and why has entered the storage unit. Also, there are contracts where we can ensure the contents inside our storage unit. For an extra fee, of course.
In the event of a catastrophe, heavens forbid, our stored assets will be safe off-site. Fires, especially electrical ones, flooding, and various natural disasters all pose a serious threat to our business. No matter where we find ourselves in the world, there is always some specificity we have to pay attention to. Sometimes it is just some cosmic joke or very bad luck at play. The saying “Do not put all your eggs in one basket” really starts to sound smart right about now. If we store our inventory, valuable equipment, and other company assets in the same place, that is a disaster waiting to happen. By separating our stored assets to multiple locations, we sever the chances of losing everything if worst comes to pass. This way if something does happen, at least we have a base to rebuild on, as we have not lost everything.
4. Going vertical
Since space is so expensive these days, we can maximize what we already have by going up, instead of to the side. Finding storage space with a higher ceiling, sort of speak will pay in the long run, greatly. By storing our assets vertically, we avoid renting greater surface areas which, obviously, cost more money. Yes, we would need to invest in scaffolding to form our giant storage shelves. Also, finding reliable electric forklifts in Australia, such as NFM Forklifts will prove to be very beneficial. They will save a lot of time and work hours by helping with the storing of assets at higher elevations. These initial investments will cost a bit more at the start but will save you money greatly in the long run. Not being forced to rent a second or even a third storing site can mean the difference between profit and going under. This reigns especially true for smaller companies in their initial phase of doing business.
Today’s global market is very atomized and competitive. There is always someone wanting their piece of the industry. By having a competitive advantage, no matter how small, these companies are at an advantage financially. Every dollar counts, especially when starting a business. One of the best ways to save money is to be rational with our leased-out space. Renting the smallest adequate space, but making the most of it is the winning recipe for running a successful business. No matter if your enterprise is a product based one or not, take as much away from these lessons and apply them yourself, today.