Why Building Your Own Storage Facility Is A Smart Business Move
Plenty of businesses operate in a very similar manner whereby customers purchase products that you have in stock. As such, you will have a facility where all of your stock is managed and looked after before it is shipped. For very small businesses, this can start as your garage or a spare bedroom. For bigger companies, it’s likely to be a self-storage locker or warehouse. Regardless, you need a facility to keep everything in – but what if you decided to build your own?
Constructing your own storage facility is a very smart business move for multiple reasons. It can be an incredible investment for your company, so let’s explain why this is such a brilliant idea:
Made to your design preferences
Going out and finding a storage facility can be difficult because you have certain requirements. You need it to be a specific size or have certain features. Sometimes, you’re left compromising important features because you have no other options.
Constructing your own storage facility eliminates this problem. You can work with architects to draw up plans that perfectly encapsulate the facility you need. It will be built to the right size, have all the necessary features, and be perfect for your business. No compromises need to be made, meaning your money goes a lot further.
Easier to scale up
Another advantage of constructing a storage facility is that it is so much easier for you to scale. You can begin with a relatively small building. This might be all your business currently needs, given the size of your stock. But, as the demand for products increases, you start to add more items to your inventory. Similarly, you choose to diversify your product offerings with even more products, meaning your stock suddenly increases. Your once perfect storage facility is now too small – what do you do?
Well, you can very easily take the facility you’ve constructed and expand it. The cool thing about industrial buildings is that they’re built with things like Butler Building parts that can easily be removed. Take away the side wall, add more panels to the roof and the other walls, then add the side wall back in. Just like that, you’ve increased the floor space in your storage facility to accommodate new product offerings. You can keep doing this as often as you need to – provided there’s enough space where you have chosen to place this building.
No more rental fees
If you don’t build your facility, you’re probably going to have to rent one. In turn, this means your company splashes out cash on rental fees every single month. It can drain your budget and make it harder for you to make money, particularly during slow periods. When the sales start getting a bit sluggish, your rent doesn’t decrease! It stays the same and is a constant expense that you hate paying
Yes, you could buy a warehouse and deal with this problem. However, it is usually much more expensive to do this. Instead, buying some land and building a storage facility is more cost-effective. Thus, you reduce your monthly expenses, giving your business a better chance of making profits.
No sharing with other businesses
Often, to keep rental costs down low, multiple businesses will share a warehouse facility. This can be good because it saves money, but the downside is you have to deal with these other companies. It can lead to stock mix-ups and delays during the shipping process.
If you’ve got your own facility, you don’t have to worry about all of these problems. It offers a way to streamline the shipping process by being in complete control of the facility at all times!
Earn more money on the side
On the other hand, you might want to welcome other businesses to your facility! Yes, we just spoke about how annoying this can be, but the difference is that you own the facility. So, you can separate the businesses and still be in control of everything.
At the same time, you can now make some extra money on the side. Other companies will pay you to rent out storage space! Therefore, you’re in the funny position of no longer paying rent, but getting rent from other businesses. It’s a wonderful way to add a new stream of income to add to your profits.
If you can find a good plot of land, then it is totally worth constructing your own storage facility. It makes life easier for your business, saves money, and can even help you make some extra cash.
In case you have any architectural, structural, HVAC, and MEP design including fire sprinkler design requirements, or need a home renovation design, feel free to contact us. We provide you with the full permit set design + T24 for your request.
Rose Morrison is the co-founder and managing editor of Renovated. Blog calendar planning, article writing & editing for construction and home improvement topics.