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This is a collaborative post.
Running a business from home is more accessible than ever. The digital landscape gives you access to consumers and remote collaborators from across the world. Not to mention that you can market your goods from the comfort of your home office. One of the hurdles many home business owners experience, though, is effectively storing their inventory.
Particularly when you’re just starting out, a warehouse might be a bit beyond your available budget. You still need a place to keep your goods organised, safe, and convenient to access for shipping, though. There are various solutions that are cost-effective and scalable as your company develops.
Using Existing Space
For many people running home businesses, using existing space is the most cost-effective approach. After all, every saving you can make represents healthier finances for your company, enabling you to grow in a responsible way. Garages, basements, and even spare bedrooms can make for appropriate storage space when you’re just starting out. It’s vital, though, to take steps to use these effectively, though. Your approach could include the following.
Planning the space
Improvising the use of your space isn’t advisable. By taking the time to plan, you can make more informed decisions that keep your inventory organised and protected. This starts by just taking a simple walk around the space. Take note of what personal items are already there, what you can move or dispose of, and what has to remain in the space. You should also consider what potential issues to the integrity of inventory there might be, such as exposure to moisture. From here, you can map out the area, assigning spots for inventory and other items, alongside highlighting storage tools and features you might need to invest in.
Investing in shelving
Simply having boxes of your inventory stacked on the floor isn’t practical. Indeed, if you’re using a garage or basement, this could attract moisture and perhaps mould. Instead, it is best to invest in affordable shelving. You need to ensure the shelving is strong enough to carry your inventory. If you have minimal space, you can also consider high-density shelving, in which the units slide along rails. This lets you fit as much shelving in the space as possible, while also allowing you to easily move bays to access your inventory.
Installing Outbuildings
If you don’t have enough spare space in your home and you’re not quite ready to invest in a warehouse, installing an outbuilding can be an affordable transitional solution. Storage sheds can make for particularly good options if you want to take the DIY approach. Indeed, materials can be affordable enough for you to tailor the design of the space with your inventory needs in mind.
It’s important to bear in mind that, alongside the price of materials and the time you spend making plans, there will be building codes that apply to sheds and property additions. The requirements and costs related to this administration will depend on various factors, including the specific additions you’re planning and the state you live in. For instance, some local governments may require a subject-to-field inspection permit before you build a shed, while detached garage-style outbuildings might need a construction permit. It is essential to consult with your building regulatory agency to understand the permit needs alongside the regulations you’ll need to adhere to.
Once you construct your outbuilding, another factor to consider is security. Your inventory is valuable and you don’t want to risk it. Indeed, your business insurance provider may insist on a minimum level of security for storage spaces for your coverage to be valid, so it’s worth checking up on this. Aside from the obvious sturdy door and window locks, smart security systems are becoming more affordable. These have camera and sensor systems connected to software that can detect motion, alerting you swiftly to prevent breaches.
Renting Storage Units
If you’ve outgrown your space at home or can’t install outbuildings, you don’t have to immediately sink all your capital into a big warehousing unit. Home business owners that are not quite ready to take that step often find that renting external self-storage units can be a useful transitional step.
These units are usually available in a variety of sizes, with options available for different budget levels. However, a lot of self-storage options don’t have shelving, so you may need to move your home inventory shelving to this space. There are other important aspects to bear in mind when choosing a storage unit for your inventory, including:
- Distance from your home: Among the benefits of having a home business are the convenience and lower costs of not having to commute to work. Travelling to a storage unit every time you need to pick up inventory following a sale adds time and mileage costs to your budget. You’ll need to establish whether you can find a nearby storage unit to mitigate this. It’s also wise to adopt practices whereby you visit the unit occasionally and pick up a selection of inventory in advance so you don’t make multiple trips.
- Climate control: Particularly if your inventory is sensitive or made from degradable materials, climate conditions can affect their ongoing quality. One of the things to check about your storage unit is what kind of climate control is available in each space. For instance, air conditioning may minimise damp and mould.
If you’re uncertain, it can be wise to take out a storage unit for a trial period, rather than committing to a long-term contract. This not only gives you room to change if the relationship with the storage company isn’t working, but it also gives you a bit of flexibility to move into larger premises if you experience growth.