Do you have what you need for your business to succeed? According to a report from the Small Business Administration, roughly over the last 30 years, only 67.6% of new businesses survived their first two years. Long-term survival numbers become bleaker — with only 48.8% of businesses lasting more than five years and only 25.7% making it to the 15-year mark.
If you want your business to not only survive but thrive in the future, you’ll need to think like a large, established business. Small warehouse space could provide you with the edge you need to meet your company’s changing needs as it grows. The space might be small, but the impact it will have on our business is huge.
What is Small Warehousing for Businesses?
Warehousing is a vital component of storing and distributing products for businesses of all sizes. However, at the end of 2022, small businesses faced a reduction in available warehouse space with many larger companies pushing them out. During the third quarter of 2022, vacancies for industrial real estate were a paltry 3.2%, compared to 5% during the same quarter of 2020.
However, a limited availability of options does not mean that your small business cannot find or benefit from warehouse space. Shared warehousing that offers small warehouse space is a better fit for newly growing businesses. Plus, many of the larger companies don’t use these smaller spaces, freeing these storage solutions for smaller businesses.
Small warehousing for businesses features a variety of storage site sizes. Businesses newly moving into a warehouse benefit most from the smallest spaces. These spaces have everything your business requires to get your inventory securely and safely stored. Amenities vary by location, so look for a site that offers the perks your business needs. Ideally, you should have access to a loading dock, package receiving, secure access to your warehouse, on-site security, industrial racking, and secure Wi-Fi in your unit.
Why Your Small Business Needs Warehousing
How are you keeping track of your inventory? If you are like 50% of small businesses, you started working from your home. Among small companies without employees, 60% continue home operations. If you use a small room or rented storage unit, your business will eventually feel the constraints of those places. Small warehouse spaces can improve your business operations and boost your chances of helping your business to be one of the few businesses that will continue to succeed in the future.
You will need to plan for your future growth as you maintain your existing operations. A small warehouse gives your business the space it needs to grow over time. With options that include small, medium, and large spaces, you can choose warehouse spaces that match the growth of your operations.
Improved Production, Quality, Storage, and More
Warehouse spaces offer high-quality spaces for securely storing even extremely heavy or delicate pallets of products. Racks keep your products off the ground, where pests can damage even non-food cardboard or wood products. Compared to stacking goods on the ground, racks also protect your inventory items from falling over and sustaining damage.
With better racking and warehouse organization quality, you lose fewer items due to damage or poor storage conditions. Plus, you have the space to grow your inventory with your business.
Visibility within the community is important. You gain connections through networking with other small businesses. A small warehouse space gives you a more professional site to host meetings with your employees. Plus, you have a formal space where you can take better pictures of your inventory for your online store and social media.
A small warehouse space makes it easier to send and receive packages. With access to a loading dock, you can process pallet loads or truckloads of goods. Receiving packages on-site is another perk of small warehousing.
Both sending and receiving goods from your small warehouse space lets you stay at your business instead of going out to the post office or shipping company to pick up or send deliveries.
With a warehouse, you have the space to organize all your inventory and finally get your products logged into a warehouse management system (WMS) software program. WMS allows you to know what you have on hand for order fulfillment. You can even connect this type of software to your ecommerce website to ensure that you do not sell sold-out products. Plus, if your inventory runs low, the WMS can instantly order additional products.
These methods of managing your inventory can help you to future-proof your warehouse and your business. Your WMS can help you to meet the high demands of online shoppers, who have many places to choose from. As your online business grows, you will need to use your WMS to ensure that customers have a smooth ordering process and quickly receive their orders. Using your warehouse space with WMS software can help your small business continue to grow and thrive.
Consider What Your Company Needs in a Small Warehouse Space
What does your company need in its storage space? Do you need organized racking for holding your goods? What about storage options that include several sizes for future growth? Do you have employees that you will need to meet with in conference rooms?
Examine how your business operates and ask what tools you need to grow. Use answers to this examination of your business to determine the small warehousing partner to work with.
How WareSpace Can Help Your Small Business
WareSpace does more for small businesses than simply offering storage space. Every warehouse space has an all-in-one price that includes security, utilities, loading dock access, on-site security, Wi-Fi, and package receiving. Plus, you have industrial-grade racking and pallet movers to keep your stock securely stored.
You can operate your business more professionally with a shared conference room and kitchen spaces. Mail drop and package receiving let you keep all your operations in one building, so you save time to focus on keeping your small business going. WareSpace gives your business the perks of a warehouse and shared office without needing to rent both.
Is It Easy to Transition to a Small Warehouse Space?
How easy is transitioning to a small warehouse space? The answer depends on how much inventory you need to move. However, after moving your stock to the warehouse, the last steps in the transition would most likely be updating your shipping address and organizing your new space.
With more space to keep products sorted, you’ll be able to find items and fulfill orders faster. You’ll find the transition from your home or a storage unit into a small warehouse space is easier than starting your business.
A Small Warehouse Space Can Boost Your Small Business
Your small business can have the space and amenities needed to grow with full-featured small warehouse space. Is your business ready to wield the tools it needs to move forward? We’re ready for you at WareSpace. Contact us today.