Most businesses, big or small, face a common issue of managing their limited resources and utilizing space efficiently.
To maximize profitability, businesses must minimize fixed and variable operating costs.
For this purpose, businesses in Lawrence, Kansas, often prefer renting additional space in storage facilities instead of renting or purchasing expensive private spaces in prime locations.
If you’re a small business or run your business from home, you can rent a storage unit for several purposes.
Here are eight most significant benefits of using a storage unit for your business:
1. Reduce Operating Costs
Businesses that sell products or logistics companies that require extra space for keeping temporary inventories often fall short of additional space.
Maintaining goods on-site might be too expensive and inefficient depending on the type of business and products. Keeping operating costs to a minimum can challenge such businesses as they need to rent or purchase additional space.
Renting more space on-site or expanding your workplace to handle a bigger inventory will cost more than a storage facility. Renting a self-storage unit can assist in accommodating fluctuating storage demands while lowering operational expenses.
Small businesses in Lawrence, Kansas, often fall short of space for inventory. On-site storage can quickly add up in terms of monthly costs.
To put up with storage requirements, Lawrence KS storage facilities like Cornerstone Storage offers affordable storage units located near the city hub. Easy access to nearby storage facilities and affordable rent help businesses reduce operating and utility expenses.
2. Keep Documents Safe
Running a business necessitates a large amount of paperwork. Certain documents must be maintained on hand according to provincial and federal rules.
You may require storing important hard copies like legal documents, registries, contracts, and other important business-related paperwork, including tax returns, customer records, previous price lists, supplier information, etc.
Renting self-storage units or lockers can keep all your necessary documents organized. It helps you declutter your workplace without losing essential paperwork and historical records. Your documents will stay secure and accessible to you.
3. Easy Scalability
Every business has a mission to achieve sustainable growth and expand its operations horizontally and vertically.
A growing business will require new staff to meet the increasing needs. As your business grows, you will require more space.
Relocating to a new location might stifle business growth since you must reconsider promoting your company to earn credibility in the new business environment.
Instead of relocating to a new place, renting self-storage units to keep additional belongings may be a better option. This allows you to continue working in the same location for as long as necessary.
Meanwhile, you can save more space by storing extra items, discarded office equipment, and seasonal items in the storage facility.
Storage is also a good alternative if you're downsizing and need storage space to keep your unused equipment.
Moreover, entrepreneurs can easily kick off their business by simply renting a self-storage unit to maintain inventory and gradually increase the storage facility size as the business scales up.
4. Manage Seasonal Influx More Effectively
Seasonal order influx can overwhelm any small business owner. Retail businesses often fall short of space during the winter as clothing, decorations, holiday products, and other essentials come in a greater variety than in other seasons.
To accommodate the seasonal influx, businesses can rent a self-storage facility and store additional items to prevent running out of popular items and ensure product availability at the right time.
If you rent self-storage units that offer climate control and additional security, you can keep the items safe for longer. This is true for off-season items you want to store until the next season.
Moreover, self-storage units maintain inventory items easily available for online sales and flyer promotions.
5. Operate Your Business from Home
As online businesses keep gaining pace, more entrepreneurs are plunging into the e-commerce industry with minimum opening inventory or drop shipping strategy.
Online businesses allow you to work from home and manage inventory without opening your office in prime locations. While many home-based businesses can utilize space in the garage and basement, it may interfere with your personal space.
Storage units provide a safe and secure location for your merchandise. You can manage your entire business through a storage unit without disturbing your work-life balance and keep the same level of product availability as other businesses in competition.
6. Additional Security for Your Precious Inventory
Self-storage units provide additional security like a card entry system, video surveillance, gated access, and parameter security.
If you share a common workplace, risking your inventory can result in a major loss. Renting a self-storage facility adds an extra layer of security and relieves you of all your security concerns.
7. Stay Organized
Extra paperwork, obsolete devices, and unused office equipment can quickly cramp up any workspace, whether you run your business from home or a small office.
The biggest challenge with office clutter is that you often fail to find the right thing at the right time. Putting unnecessary or rarely-used items in a self-storage unit aids in organizing your workplace without throwing away equipment you may require later.
Self-storage units also help you stay organized during an office relocation or renovation. You can store additional office items, furniture, appliances, and machinery in a self-storage unit until you’re done with renovations, setups, and decorations and finally ready to shift these items.
Knowing that your valuables are secure in self-storage alleviates stress. You can focus on your relocation or renovation without worrying about your office valuables.
8. Easy Access
Self-storage facilities come in a variety of sizes and types. While climate-controlled storage units safeguard products from humidity and extreme temperatures, drive-up self-storage units provide instant access to the storage facility.
You can load or unload items directly from the vehicle to the storage unit and avoid dragging items up and down the stairs. This can help save time and effort.
Renting a self-storage unit for your business has numerous advantages.
It organizes your workplace and keeps your business running smoothly with remote inventory management, reduced operating costs, and better security. However, you need to consider a few factors before renting self-storage units.
Locate self-storage units near your workplace to facilitate accessibility. Avoid storing prohibited items, including perishable goods, plants, flammable materials, oils, lubricants, and live animals.
Assess your current business needs and forecast your growing space requirements before choosing a storage unit size.
Compare the cost of renting additional space for your workplace to the cost of renting a self-storage unit and choose an option that best suits your business needs.