Is Warehouse Storage Better Than Upsizing Your Business Space?
When business starts booming, it’s time to think ahead to the next step — how do you make space for expansion? Back in the day, the answer was simple: upsize your commercial space. While we love tried and tested solutions, the modern age has heralded in some cost-effective alternatives that have been embraced by big and small businesses alike.
And so, the question arises: Is opting for warehouse storage better than upsizing your business space? We weigh in by discussing the most important factors you should consider when looking for more space for your business.
When it comes to business, one of the first things you want to know is what’s best for the bottom line. If you’re buying a bigger commercial space, you need to be sure that it’s an investment that’s going to pay off. If you aren’t, warehouse storage is preferable.
Renting a warehousing alternative at a self storage facility is more affordable than leasing a traditional commercial space, especially when you factor in additional costs like maintenance, renovation, and set-up costs. Tenants are also usually responsible for all utilities and service charges when they lease a commercial property.
Consider whether you can budget for these additional expenses, or you’d prefer the flat monthly rate of renting warehouse storage.
The security of your inventory is paramount and one of the top factors you should consider when choosing between warehouse storage and a bigger commercial space.
If you choose to upsize your business space, you’ll be responsible for putting the security measures in place — that means you can choose which security features you’d like and how much you’re willing to invest.
Good storage facilities invest in cutting-edge security systems to ensure the safety of tenants’ goods. You can expect to find 24-hour CCTV surveillance, fire and intruder alarms, and secure perimeter fencing when you visit a self storage facility. These security features come at no additional cost; they’re simply included in your unit rental. Your storage facility might also help you arrange insurance for your stored goods.
If you already own or lease a commercial property, you know the level of maintenance that goes into it as well as the costs — these only increase when you choose to upsize. The perk of owning your own commercial space is that you can choose which upgrades and renovations you’d like to do.
With warehouse storage, on the other hand, you won’t have to think of maintenance at all. As a business owner, you might value this more, as you can direct your focus and resources elsewhere.
Investing in a bigger commercial property is a huge commitment. If you value flexibility, warehouse storage will be a better fit. Self storage facilities offer warehouse storage on flexible contracts, which can be short or long term.
If your business is undergoing a period of growth, and not as stable as an established enterprise, then this flexibility is particularly helpful. You have the option of renting a large warehousing unit during the peak season and scaling down to a smaller unit during the off-season, so you never have to pay for extra space you don’t need.
If you have consistent stock storage needs throughout the year, then a bigger commercial space could work, but you’ll have to evaluate your business’ needs long term and consider what might change moving forward.
Consider how quickly you need to acquire more space. If the need isn’t urgent, you may have the time to shop around for commercial properties, approach agents and owners, go through the application and leasing process, wait for financial approvals, and do the initial setup.
If you’re eager to expand or need space immediately, then renting warehouse storage is quicker and more convenient. You can avoid lengthy waiting periods and rent a unit quickly, with little fuss.
Ultimately, the final decision will depend on your business’ unique needs. While renting a bigger commercial space may be the traditional solution for expansion and space demands, warehouse storage offers an affordable, flexible, and convenient alternative.
Keen to discover the benefits of warehouse storage for your business? At Louth, we pride ourselves on providing the best business storage solutions in the area, with affordable warehousing alternatives suited to businesses of all sizes.
Get in touch with us today and we’ll provide you with an obligation-free quote for your unit.
Call: 01507 327008
Visit: Louth Self Storage, Meteor House, Carlton Rd, Manby Park, Louth, Lincolnshire, LN11 8UT