If you own a physical business, one of the most important aspects of running the business is where to store your inventory. Having enough stock will ensure that you can continue supplying products to meet customer demand.
With good storage, your business can continue generating revenue and being profitable. It also means that you can handle temporary shortages from suppliers without it having a permanent effect on your business.
However, not all storage options are equal, and you will need to consider various factors when selecting storage types for your business, including:
Size
When it comes to storage for your business, size matters. It would be best to consider how much inventory you need to have at any point in time for your business to attract and keep customers coming to your store.
Once you have accurate numbers, calculate how much space you need to store the inventory. You can then find storage space that will be enough to handle the merchandise.
You should also consider the storage of other office or business equipment that you may need occasionally and factor it into the size of the warehouse. Be sure to leave a substantial margin of error in case you need to take advantage of opportunities and add to inventory.
Location And Accessibility
Accessibility is a significant factor to consider when choosing storage types for a business. You want the ability to fetch items for customers whenever you need to quickly and as efficiently as possible. The location of the storage space will be integral to accessibility.
If you live in Phoenix, Arizona, you should look for Phoenix storage units near you. The more accessible the storage facility and the closer it is, the better it will be for business.
Even when you have a company truck, you want the storage space to be close enough to be convenient for restocking inventory as quickly as possible. The ability to access your storage space 24 hours a day is also paramount.
Business Needs
Different businesses have different storage needs, and when considering a storage space for your business, you should know exactly what your storage needs are. For example, a business may require temperature-sensitive storage, which means needing storage with temperature control.
Fresh produce stores, medical supplies, and horticultural businesses are great examples in this regard. Therefore, consider your specific business and determine which type of storage will be the most efficient form of storage.
Security
A crucial factor to consider is the security of the storage space. As a business, you will be keeping valuable products in storage which will directly contribute to the success or failure of your business.
It would be best if you chose the most secure storage facility available. Check the locks, security video cameras, fencing, biometric keypads, and other security features to ensure that your goods will be safe.
You should consult other businesses that store goods at the facility to confirm the facility’s track record. Issues occasionally arise when you keep valuable goods at a location, but security should deter safety issues as often as possible.
Cost
Though storage is essential for any business, it is still a business expense, and the lower your costs, the more profitable your business. The storage space features, such as accessibility, security features, and size, will affect its cost.
However, given all other factors remain equal, you should choose the most cost-effective option. Some storage facilities will require monthly payments, while others will charge you annually, determining how much you need to pay. There are also other fees that you should look out for when evaluating storage spaces.
There are many factors to consider when choosing a storage space. The factors above are but the tip of the iceberg. The stated points cover the basics, but the key is to evaluate your business and determine its storage needs precisely.
