The current business environment is challenging for many. There is a huge amount of uncertainty for many industries like retail, hospitality and the leisure sector at the moment – with some businesses still not having a clear idea of when they can start to reopen. Coupled with bad news from high street retail and in the unemployment figures, now is a time when many businesses are keen to save money and keep costs under control.
Utilising self-storage for your business could be a way of saving some expenditure – have a look below at our thoughts on how your business can save money with self-storage.
- Self-storage can be a viable alternative to more expensive warehousing. As well as being quicker to set up, self-storage also offers a greater amount of flexibility on space and only short term commitments are necessary. In a trading environment where it pays businesses to be agile, the ability to be flexible can save you money
- Security at Self Storage facilities is included as part of the deal – most well run facilities will have CCTV, a secure perimeter and even regular security patrols out of hours. To provide a similar amount of security in a rented warehouse space would be way more expensive to an individual business.
- Save money on other costs like insurance, heat, light and business rates. Self-storage facilities don’t attract business rates for those using them to store – unlike commercial storage space. Other costs like heat and light are also at the cost of the storage provider. Not only does this save you money on regular bills, there are no ongoing service charges for utilities either.
- Storing your business goods near to where you need them to be in terms of transportation can also help to keep your costs down. Most commercial storage facilities are located in really accessible locations with good access to major roads – potentially saving you money in delivery and transport costs.
- If you suddenly need more or less space, to deal with seasonal stock fluctuations for example, self-storage space can be either scaled up or scaled down to suit with minimal notice. If you were to rent a warehouse or similar industrial until for your business storage, you will almost certainly be tied in for a longer period of time.
- Ditch your office space? If self storage can take care of your storage needs – it may also be possible for your business to further reduce ongoing costs by relocating your office. In some self-storage facilities you may be able to set up your office along with your storage – or a flexible serviced office/meeting space or co-working space could also be an option.
- Another way your business may be able to save money by freeing up space in your office is by monetising that space, perhaps by sub-letting part of it – assuming your lease arrangement allows it.
- Any kind of business premises requires insurance. If you are leasing any kind of space for your business you will be required to have some sort of premises insurance, as well as covering the contents of the premises. If you are renting storage space – you do still need insurance but you will only be insuring to the total value of the goods you are storing which is also likely to save you money.
Self-storage space can be a great way to reduce your business expenditure – ideal for smaller businesses, those will fluctuating space requirements and start-ups who can benefit from the flexibility which self-storage offers.