It is not uncommon for some retailers who lease a commercial business space to reach their onsite storage capacity. They do not have the flexibility of being able to buy storage buildings or get them built because they do not own the property where they conduct business. This dilemma can be resolved by seeking a retail product storage solution.
The following points identify a few things to keep in mind when exploring the concept of offsite retail storage.
Storage Needs
Some retailers may decide to store the majority of their inventory offsite. This would allow them to have space for new deliveries. If they keep inventory onsite stocked to capacity, there will not be room for deliveries.
Cost and Fees
Retail storage costs are usually contracted by the month. Some companies may allow full payment for a set number of months such as 3, 6, 9, or 12 months. They may even offer an incentive such as a discount for paying for the months in full. However, there might also be clauses in the contract that contain pertinent information such as a fee for early cancellation. Contracts also help you avoid fees such as late fees, lock-out fees, and non-payment. It is imperative for business owners to be aware of all potential fees to avoid surprises in the future.
Climate Control Requirements
Certain products are temperature sensitive. If there are any products that are prone to damage or spoilage, it is best to choose a retail product storage solution that is climate-controlled. This can protect against product losses. If there is a small portion of inventory that requires special storage considerations, business owners could elect to store those products onsite and utilize the offsite storage solution for the inventory that does not require careful monitoring and precise temperatures.
Space Requirements
Retailers should take into consideration the possibility of them needing more space. Seasonal spikes might mean more inventory storage needs. Choosing a storage solution that has more space than is currently needed is beneficial because there will not be a need to change units if more space is required. It is also a good idea to determine if there are warehouse features available such as shelving.
Hours of Operation
Ideally, retailers or their designated employees will be able to access their storage space 24/7. However, some storage facilities open and close daily. No one is permitted after closing time. Understanding this upfront will aid in preventing issues such as not being able to fulfill orders or temporary interferences in restocking.