Warehouse operations can make or break your business. As a division, its efficiency can ensure your company meets customer demands. As a business asset, its value needs to justify its costs. And warehouse selection plays a crucial role in helping your business obtain favourable results.
Here are some features that can help you choose the right warehouse space:
The Location and Size
Warehouse location is important for your suppliers and distributors, employees and logistics. It can also affect your operating costs. If the commercial property is inaccessible to business partners, you’ll encounter delays with the delivery of goods. If employees have to relocate to work in the warehouse, you may have a hard time hiring the right people.
A bad location can also mean extra costs with deliveries and distribution. If it takes more time for goods to arrive at the warehouse and reach stores, your business will spend more money.
As for the size, it can determine your leasing or purchasing cost. While a larger warehouse can benefit some operations, you can save money by installing pallet racking systems. The best racking system can improve the flow of traffic and goods in your warehouse. And it can maximise a smaller space.
The Price and Terms
Do you plan on buying the property or securing a long-term lease? Your choice will not only depend on what you can afford now. It also hinges on future plans for the business and changes in the market.
A purchase will allow you to make changes as your operation goes. But a long-term lease may work better if you need to move operations or demand for your goods slows down. Think about your business plans before settling on an outright purchase versus a lease.
The right warehouse space can provide favourable results for your business, from improving efficiency to managing costs. So consider your options carefully.