A warehouse is a must when it comes to storing business goods, products and equipment, with you generally having the option of either renting or building your own warehouse to meet your needs. With this in mind, it is important for you to be fully aware of the advantages and disadvantages of both options, so we at Process Steels have done the homework for you and devised a list of pros and cons of renting and building a warehouse.
Advantages of Renting
• Renting is suitable when you are looking for a transitional place to store your inventory. This way, you will be able to meet your temporary storage needs for the specific amount of time you require.
• If you are not a limited budget, renting a warehouse is a good option. Most storage companies charge on a monthly basis, but there are others that offer a discount if you opt to rent for a 3 or 6 month period. This option is suitable for businesses that have recurring or seasonal storage needs.
Disadvantages of Renting
• Renting is not the best option in the long run as it can be cost prohibitive and increase your operational costs.
• There may always be the question over the security of a warehouse that you have no control over, which could result in you spending more money to protect your property and give you the required peace of mind.
Advantages of Building
• Building your own warehouse is an investment as you will hopefully be able to make a profit if and when you decide to sell it.
• You will be in control of the warehouse, as it will be your own property. You will be able to access it any time of the day or night, and cater it to the needs of your business.
• You can make changes to the floor plan or structure as you see fit. This is something that you will benefit from when your business grows and you need a more organised warehouse.
• The warehouse can be constructed to precisely meet the needs of your business, ensuring a tailored solution that works for you.
Disadvantages of Building
• As a warehouse owner, it will be your responsibility to tackle security, maintenance and provide adequate ventilation, heating and/or air conditioning.
• If you decide to relocate your business, you may have to sell your warehouse and build or find one in another location.
It goes without saying that building a warehouse is more beneficial than renting one in the long term. We at Process Steels are the perfect choice for building warehouses of all shapes and sizes, as we bring along a wealth of experience, knowledge and expertise to the table that you can utilise and benefit from. We can design the ideal warehouse for your business needs and also manufacture and erect it for you. If you are therefore looking to build your own warehouse, contact us today and we will be happy to discuss a build based around your budget and business needs.