What To Know Before Starting A Business With A Storage Unit

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At times, moving away from conventional methods may do a lot more good for you than you realise. For instance, a cheap storage space allows you to not just conduct your day-to-day business activities, but keep your goods safely as well.

In Work+Store’s case, we’re even able to help you on this aspect even further as workspaces can function as ancillary offices as well. In other words, letting you enjoy the benefits of managing multiple activities at one go – from stocktaking to work tasks.

However, what is it that people should know before starting a business with a storage unit? Is it important to observe some tips and rules before starting the business? People get storage units measuring different sizes and for distinct reasons. And owning a storage unit can be a profitable business, if you do it in the right way. Hence, here’s what you need to know when starting a business with a self storage.

Work out your budget

First and foremost, you need to consider the budget you have. Depending on the size of the storage compartment you want to start with, the costs will differ. The choice of size will depend on whether you want to run the facility part-time or full-time. And the duration of running depends on your budget. How much are you willing to part with, in the initial stages? Your sunk cost (the funds needed to get your start-up running) should be a price that you are willing to spend, and can do so comfortably, without straining so much.

To help with your budget matters, Work+Store offers Zero Deposit Guarantee, which is one of the key reasons why we are able to offer the cheapest self storages and workspaces. We’re even able to accommodate your workspace sizing needs as we offer a vast range of sizes with storage units starting from 6 sqft and ranging up until 730 sqft, whilst workspaces vary from 88 sqft. Our wide range also applies to our locations, with units available in 10 different places – Pasir Panjang, Bukit Merah, 72 Eunos, 100 Eunos, Ang Mo Kio, Bartley, Kallang, Upper Thomson, Tampines, and Aljunied. We have multiple units at our Ang Mo Kio location right now, so you can easily land yourself a cheap office space for lease with great convenience – considering that it’s accessible via CTE (Central Expressway) and has a bustop available right outside the building with direct bus to Ang Mo Kio train station. We also have an upcoming building at Toa Payoh you can look forward to, where you’ll find all sorts of F&B establishments nearby. For now, there aren’t many details about the location – we’ll provide more updates in the near future once the building is finalised.

Research the local market effectively

Researching the industry you’re in is the second most important thing after working out your budget. Check who your competitors are, and how they do business to gain more clients. Then, research more about customer needs how you can attract these prospects. So, find out every tiny speck of information about the business during your research period. It can be as simple as looking at the latest trends, social media, and news to know what your audience is looking for.

Get a secure storage space

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The other thing that you need to do is to get a secure storage space. Aside from boasting a centralised location, or one that meets your employees’, delivery, or customers’ convenience – security and accessibility are both equally important. And that’s where a self-storage comes in as it’s able to provide both of these aspects.

Your workplace is well-secured under the surveillance of our 24/7 CCTV cameras, and you have full access to the space all day long. Meanwhile, if you’re opting for an office for rent instead – you can enjoy our fully furnished spaces where you’ll find a powerpoint, air conditioning, and sufficient lighting. Work+Store is highly flexible with our leasing terms, you can rent with us for a short while or for the long-term, and you can convert your spaces into other services or products we own in our building, or our parent organisation, LHN Group, be it a vending machine location, commercial unit, and so forth.

Work on your online presence

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This is the standard rule for practically every type of business. It would really help if you have a well-established online presence, as this will help you attract more clients while retaining the ones that you already have. This may also mean that you’ll have to reach out to your clients and be responsive to their inquiries. It’ll help you convert leads into customers as long as you listen to their needs and wants, and provide the right solutions.

When you have a storage space and workspace together in one room, your business can reap many benefits like better productivity in goods acquisition and smoother handling over logistics processes, altogether meaning that you’ll be able to provide customers with better service. At Work+Store, your new startup or existing business can start or continue operations by choosing a space from our range of the cheapest self-storages and workspaces.

All in all, we hope we’ve helped to cover the basics on how to start your business with a storage space. Afterwards, it’s up to your own efforts and ideas to ensure your business thrives.

While it’s excellent news to be embarking on a new business venture, it’s still highly important for us to educate ourselves about COVID-19 rules and measures by the government – whether it be in purchasing supplies of better quality masks or sanitisers, or incorporating social distancing measures in the workplace. Hence, we would like to kindly advise our staff to do any of the following above, or do whatever that’s within their ability to ensure the workplace is safe. With that, we hope all our tenants and potential ones stay safe and healthy amid this difficult period of time!

If you wish to find out more about Work+Store and our other storage options, feel free to contact us at (65) 8345 9966 or WhatsApp us at (65) 8345 9966. Alternatively, you can email us at space@workstore.com.sg for more information!