Real estate has always been a sound investment. Consumers who are looking for a safe retirement plan or would like to go into business for themselves can look past traditional apartment rental and home flipping income; starting a warehousing company is the way to go.
A warehousing business comes with less risk while allowing people to purchase and utilize empty real estate space. Use any of the following five practical solutions to start your own warehousing business:
1. Erect Cost Effective Shelving
Once you’ve found an affordable, open property to use as a warehouse, purchase and erect cost effective shelving. These types of shelves are normally made out of steel or wood and can be safely pinned to the floor.
Shelving is the most effective way to use space within a warehouse, which is why most large hardware and supply stores use them.
2. Use Sturdy Storage Bins and Systems
Various warehouse business owners use storage bins and systems, similar to those carried by companies like Quantum Storage. These storage bins are great for offering extra protection from the elements, like a leaky roof or extreme temperatures. Storage bin systems also provide an easy and efficient means of organizing items that people store with you.
3. Use a Self-Storage Setup
While more expensive, a self-storage setup could be a great way to boost security for potential customers. Each of your clients can be assigned a secure storage unit within your warehouse, giving them peace of mind and reducing the risk of theft for you, the business owner.
4. Rent Warehouse Space from a Third Party
If you don’t have the funds to actually purchase property, renting a warehouse and reselling the space to clients is a solid business plan.
Similar to making a purchase, you’ll need to have an inspector take a look at the property to make sure it’s sturdy enough for your business. You’ll also need to obtain business insurance and other relevant insurance policies, as mandated by your future landlord.
5. Start with a Large Self Storage Unit
If your startup capital is extremely limited, start by renting a large self-storage unit. These types of units allow warehousing entrepreneurs to start with an investment of about $500 per month to start for all expenses.
Once you’ve put together a decent client list, you can expand into a larger warehouse of your own.
The warehousing business doesn’t come without its own difficulties. An entrepreneur with a little bit of savings and the right storage system can become very successful if they work hard to build trust among their clients.