Being a business owner comes with several responsibilities. It involves managing sales, updating social media platforms, filing quarterly tax paperwork, and keeping the accounts and ledgers balanced. Additionally, you also have to maintain an inventory. When you first started, you may have used your home for inventory storage. But now, as your business is expanding, you will have to move it outside of your home. Organizing and storing inventory is an integral part of any business. Depending upon the size of your organization, you can set up an inventory storage system for it. To make things convenient, we have made a list of some smart storage ideas for any business. They are as follows:
1. Use Your Basement
Using the basement to store inventory is a common practice. Many well-established companies are currently utilizing the space beneath their feet to fulfill their storage needs. They automate and furnish the area according to the products they handle for better storage. This way, they keep a close eye on the goods and have them shipped with care. For both small business owners and established companies, storing inventory in the basement area is a smart and cost-cutting move. So if your basement is free, you can use it as a storage space for your business. It will help you organize your workplace while keeping all your inventory safe and within easy reach.
2. Rent Self-Storage Units
When we say self-storage, most people associate it with personal use. But, self-storage units are a popular choice for both personal and commercial storage purposes. They are individual units where you can store your inventory however you want. Contrary to commercial warehouses, storage units are more affordable and more convenient to access. They are an excellent choice, especially if you are a beginner. And as your business continues to expand, instead of getting a new office space, you can rent a new storage unit. That too at more affordable rates. Storing your inventory in such storage units is a safe and secure option. These units have reinforced gates, close-circuit cameras, security alarms, and rounding personnel who monitor any suspicious activity. You can also use them as temporary housing for office items while renovating, remodeling, or transitioning your business location.
3. Work with the Attic
It is a useful solution for home entrepreneurs and small business owners. As homeowners, we essentially use attics for storage purposes. But as a business owner, you can reorganize the place to work as your inventory storage. But since most attics frame the ceiling of any structure, you should look into installing a climate control system. Also, prepare the space beforehand as using it without prior preparation can damage your goods.
4. Buy or Rent a Commercial Warehouse
Commercial warehouses are quite useful for growing business setups. They are large buildings located inside industrial parks or on the outskirts of a town or city. Unlike self-storage units, warehouses are more professional and offer better control over your inventory. Depending upon your business’s nature, you can either purchase or rent a warehouse for your business’s storage needs. You can use it to store both your perishable and non-perishable items. Wholesalers, manufacturers, customs, and transportation businesses rely on warehouses to store and supply their goods.
5. Use Third-Party Logistics (3PLs)
As a business owner, you may have heard of third-party logistics. They are independent contractors with years of inventory and fulfillment experience. With them in action, you don’t have to worry about running a full-scale operation. You can outsource your fulfillment to a 3PL; they will store, pick, pack, and ship your direct-to-consumer orders. They are an efficient way of maximizing efficiency and sending orders out at the earliest.
6. Work with the Community
Did you know your community also offers an excellent solution to your business’s storage needs? Look around, and you will notice neighbors who are eager to rent out the extra space around their house. From unused rooms to garages and sheds, you can recruit your community to rent out their spaces for your business use. This way, not only is the inventory within reach, but you can also arrange it in any manner you want.
If you want your business to progress, be crafty. We all know that inventory storage is one of the essential parts of any business. So, start getting creative and make the most of what you have. Above, we have listed the six solutions to your business’s storage needs. They are great for both short-term and long-term purposes. According to your requirements, you can select and choose the best options for your business.