Best Options When Renting Space in Warehouses

What are Your Top Options When Renting Spaces in Warehouses?

Are you new in business with lots of stock and you are quickly running out of space to store it? Or maybe your warehouse is no longer servicing the needs of your business and you are looking to rent space in a warehouse?

The following are the best options when renting space in a warehouse.

1. Contract warehousing

In contract warehousing, the space is hired for a fixed period which usually last 6 months or longer hence not appropriate if you intend on using the space less than one half of a year.

This space comes with additional features such as forklifts, racking and 24 hour security. Also the charges per square foot in contract warehousing is better than in public warehousing.

2. Public warehousing

This warehousing space can be rented on a monthly basis for a certain fee per square foot. The good thing about renting space in a public warehouse is that you are not fully committed for a long time but the charges are higher compared to contract warehousing.

Just make sure you find one of those public warehouses that has track rollers as a part of the standard equipment. This will save you from stress when big shipments start coming in.

3. Private warehousing

With this option your business owns and manages a private warehouse. The main advantage of a private warehousing is that you are in full control of all its aspects even renting out the extra space.

However, obtaining a private warehouse is quite costly but the cost is worth it in the long run.

How to choose the best renting space for you

Beyond knowing the best options when renting warehouse space, there are certain aspects that you should consider in determining which one will suit you best.

Financials

You have to determine if renting the space will be an added cost or it will help to increase profit. How long will you need to use the space? What is the fuel cost?

Keep in mind that the best warehouse space for you should help increase the business profits.

Peace of Mind

Cost of the warehouse space is only one of the factor in determining the best warehouse space for you. Check how safe your products will be, are they insured especially if you have valuable goods? Does the warehouse provide 24 hour security?

Also ask how your goods are protected and what measures have been put in place in case of fire.

Space to Grow

Before taking the warehouse space, be sure to confirm the available capacity and check if it is enough to grow your business.

Staff, Accuracy & Technology

There is nothing worse than losing your customers because your outsourced space could not cope with them effectively. Ensure that the warehouse processes everything electronically to enhance accuracy and speed especially during the busy hours.