Business Solutions for Storing Inventory and Supplies
By : Luke Fletcher -
A good indicator of a retail store’s health is its sales per square foot. But if retail space is being eaten up by storage space revenues can quickly dwindle. Renting a storage unit for holiday decorations, large signs, and other items that are gobbling up space can actually save you money. Reducing cost of goods stored, in turn, reduces cost of goods sold.
Manufacturers, retailers, online merchandisers, and other businesses will generally spend more to store items in their building or restaurant than they would by renting a self-storage unit. This inexpensive storage solution allows businesses to stay organized and store excess inventory when it takes advantage of supplier discounts and when it holds hefty levels of safety stock.
The following suggestions will help you identify which items at your business should be placed in storage and to select a storage unit that will cater to your storage requirements.
Deciding on the Right Storage Facility
- Find out what security features are available at each storage facility. Storage facilities often have some or all of the following security features: entry points with restricted keypad access, fences, cameras, and a manager that lives on-site
- Talk with the facility manager about when storage units can be accessed. Although some facilities have 24-hour access, typically, facilities with gated entrances are only accessible during certain times of day. So, if you need to access your unit during other times of day you will need to make special arrangements with the facility manager
- If the storage facility allows you to make arrangements for the facility manager to accept package deliveries on your behalf, you can cut on additional costs. After the facility manager accepts your delivery the manager will notify you by phone and you will usually have 24 hours to pick up the package
- If you are storing materials that are temperature sensitive and you are storing items in a an area where the climate is subject to extreme swings in temperature or if you will be frequently spending time retrieving and arranging items in your storage unit, you may consider renting a climate-controlled unit. Storage units with climate control are kept between 50 to 80 degrees, so you and your belongings aren’t exposed to frigid and sauna-like temperatures
Deciding on the Right Self Storage Unit
- If you need to make frequent deliveries and pick-ups, a storage unit with drive-up access may be more convenient if want to park your truck, van, or trailer right next to your unit
- Locations within storage facilities that are closer to the ground floor entrance will cost more, but the price can be worth it, especially if you are storing awkward or heavy objects
- Plan out how much storage you anticipate in the long term. Most people end up needing more storage than they originally thought for longer periods of time than they originally thought
- If you have various business locations, the most convenient solution may be to rent several small units and different storage facilities instead of renting one large storage unit to store your business goods
- If you use multiple self-storage units for your business, consider using some storage units for deliveries and storing inventory and using other units for long-term storage
Things Not Allowed
- Tenants may not sell directly from their storage unit
- Perishable items may not be stored as they attract unwanted vermin and pests
Ask the manager of the storage facility for further questions regarding the best practices for business storage.