Three Factors to Consider When Looking for Warehouse Space
If you’re looking for warehouse space for rent, you likely already realize you’ve got a lot of possible options. Since the year 2000, the amount of warehouse space and occupied distribution space has increased more than 86%. If you have a small business and are ready to get more storage, weeding through these options can seem daunting. Read on for a few tips on how to choose just the right space for your needs.
Know Your Size
As you calculate size in warehouse space for rent, one of the most important considerations will be the size of what you want to store. You also need to consider how a product can be stored when determining warehouse space needs. Does it need to be upright, or can it be laid on its side? Can items be stacked or not? Do you need racks? Although installing racks can seem like the best way to utilize space, financially speaking it can sometimes be more cost efficient to buy more floor space than to invest in rack installation. Again, this will depend on size, method of storage you need, and also turnover rates. If your product is flying off the shelves pretty quickly each day, you might want to re-think putting in racks.
Know Your Location
There are a couple things to think about when looking at warehouse space for rent. Location relative to the customer base is crucial, of course. But cutting down on shipping costs by locating closer to suppliers is also something to consider. It’s not just about those numbers, either. You’ll also want to think about your own transport from warehouse to retail or to customers. Are there roads best avoided, or tolls you could get around easily? You might also want to be in a particular place in order to tie your brand to a location. It might matter to customers where their items are being shipped from.
Think About Price
There are a lot of factors to think about when considering renting a warehouse space. You might pay less to rent in one area, but if it increases your shipping costs will you actually save much money? Commercial warehousing is often located near coasts for ease of shipping. Space that’s farther away will have lower rents, but may cost you quite a lot more in other ways. It’s also worth looking into the local political climate. Some municipalities will offer tax incentives; others will sock you with high sales tax rates. Get the lay of the land before you rent.
Finding the right warehouse space for rent can be time-consuming, but when you have the right space it can make all the difference for your business. Consider your general needs for space, location, and price carefully before you decide, and your hunt for warehouse space will be simpler and faster.