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Entrepreneurs Rely on Storage to Grow Their Businesses

Admin | May 21, 2024 @ 12:00 AM

Entrepreneurs heavily rely on storage to expand their businesses. Take Cheri Garcia, the mastermind behind a floating tanning bed, for instance. At first, she stashed her stock of approximately 1,000 beds in a spare room. However, as her venture, Luminous Envy, flourished and clinched a deal with a major pool supply company, Garcia found herself in need of a more sustainable storage option.

Opting for a self-storage facility to house her inventory made perfect financial sense for Garcia, who operates from Dallas. "If I were to opt for a warehouse, they would charge me an arm and a leg," she pointed out. Instead, Garcia pays less than $100 monthly for self-storage and sees it as an astute business move.

To steer clear of costly warehousing predicaments, Tom Pryor from the Small Business Development Center in Arlington advises entrepreneurs to emulate Garcia's approach. "I've previously suggested that startups dealing with products should utilize self-storage as their warehouse instead of committing to an expensive location lease," Pryor recommended. Self-storage offers flexibility with leases typically running three months or on a month-to-month basis.

Furthermore, companies can effortlessly expand their storage space as they grow without the headache of scouting for new warehouse spots. Self-storage facilities are accommodating and eager to assist existing clients in meeting their evolving requirements. "You can simply say you need double the space you had before and they'll help you scale up," Pryor added.

Brad Sherman from StoreSmart's Colorado branches noted that some business clients rent up to 40 or 50 units simultaneously to store their inventory items. "They prefer not committing financially by leasing warehouses or office spaces for inventory storage," Sherman explained. "Self-storage is an excellent match for them."

Self-storage has been pivotal for Jay Jones' audio-visual outfit TechKnowledgeEase over the past 12 years. Based in Corsicana, TX., the company offers audio-visual equipment and services for meetings and special events. "That was essentially how we designed our business plan," said Jones about sticking with self-storage which has proven effective over the years.

In terms of advice for entrepreneurs contemplating business storage solutions: both Garcia and Jones underscore discussing inventory insurance with providers before relocating items into storage to ensure coverage against potential losses - as both maintain insurance on their stocks; Jones even had his unit burglarized once but was covered by insurance.

Moreover, it's vital to consider amenities crucial for safeguarding your inventory such as climate control which was essential for Garcia at 70 degrees indoors - though sites offering this feature may charge up to $150 per month; however she opted for one further from home due to better rental rates available there along with other factors like security measures lighting access convenience and onsite management.

Garcia stressed that using self-storage also aids in preserving cash flow crucial especially during startup stages where many owners rush things leading them out of business due not taking prudent steps according to her opinion.

For anyone looking up “storage unit deals near me” or “storage lockers near me,” contemplating self-storage as part of your entrepreneurial journey can yield substantial cost savings along with flexibility supporting your business expansion without bearing the financial strain associated with traditional warehousing options.

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