Expanding your business? Think commercial self storage

Need more space for your business? You could always move into larger premises. But stop! Have you thought of self storage? It could be cheaper, more flexible, and more secure, as many businesses have discovered.

Self storage in the news

This was the point eloquently made by Rachel Bridge in her recent article entitled “Start-ups think inside the box” in the Business section of The Sunday Times (9 May 2010). She points out that self storage is a particularly attractive option to business start-ups and small businesses looking for a place to store their stock. The advantages of self storage facilities include:

• the units are relatively cheap;
• they do not require a commitment to long-term contracts;
• they have good security (CCTV, staffed reception areas etc);
• they can provide useful equipment, such as fork-lift trucks, as part of the service.

Some self storage facilities also allow 24-hour access, which ‒ as Rachel Bridge points out ‒ can be particularly useful for start-ups launched by people still trying to maintain their day-jobs while the business gets going.

A unit of 100 square foot (about the size of a garage) typically costs between about £120 and £240 a month, depending on the location. Larger units tend to be more economical pro rata. These rates can compare very favourably to commercial property rates, especially given the facilities on offer.

Lock, stock and business

Businesses make up at least 30 per cent of the customers for self storage in the UK, and ‒ because they tend to rent larger units ‒ they account for more than 50 per cent of the rented space in many self storage facilities, and more than 90 per cent in some.

Small businesses can use a self storage unit to store stock and equipment, of course, but it can also be a place of work. With the consent of the facility manager, it should be possible to carry out light business tasks in a rented unit, such as packaging or product assembly.

Some of the larger self storage facilities now provide proper, purpose-built offices on their sites, so small firms can operate their businesses from there, and be close to their stock. Rachel Bridge reports that Access Self Storage has two-person offices in London for rent from £160 a month. One particular advantage is that the occupants can usually expand (or contract) their warehousing capacity virtually at the drop of a hat, as needs demand. Such setups are especially well suited to wholesale and online businesses ‒ indeed, they are almost tailor-made.

2 Responses to “Expanding your business? Think commercial self storage”

1. How to Invest in Self-Storage | Local Self Storage Search says:

   May 12, 2010 at 6:59 am

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   May 12, 2010 at 10:46 am

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