Choosing the right building for your new warehouse can make or break your success. If the building does not function effectively to meet your business needs, that will be a big barrier on your path to success. Likewise, if the location is too far out of reach, you’ll waste unnecessary time on traveling and shipping products. So, before you set up shop in a new location, be sure to consider your business’s needs, the physical location of the building, accessibility, and cost.
The first consideration when it comes to selecting a warehouse is what your business needs. If you are in manufacturing, you will need to find a building that is in an area that is zoned appropriately. Likewise, you need to be able to anticipate business needs, such as feasible delivery, effective shipment options, internal flow of the space for storage and packaging, and even business attraction. As you begin the search for the right building, keep these factors in mind.
It goes without saying that location is another important factor when it comes to finding the right building. You’ll first want to consider your customer demographics to determine the location of your target market. Selecting a warehouse situated near your target market will ensure faster delivery times. Also, consider the building’s proximity to carrier facilities should you need to use them. The location of your facility will significantly affect the cost of shipping and other expenses associated with your business.
Ease of access to the building also contributes to business success. You may want to consider such accessibility requirements as available parking, nearby amenities, delivery locations, demographics of the area, and more. Ensuring that the building itself is safe and properly wired is also critical. It may even be beneficial to have an individual with an electrical engineering master’s through NJIT, for example, to assess the building’s safety and accessibility.
When it comes down to it, cost is often the deciding factor when it comes to selecting a building for your warehouse. Keep this in mind as you are looking and make sure to factor it in. While a building may be in the right location, if it’s too expensive, it will heavily affect your profit margin. Be sure to include everything from utilities to insurance and even necessary IT installation or upgrades when figuring the cost, the U.S. Small Business Administration recommends.
These are just a few things you need to consider when choosing the right building for your new warehouse, but putting the time in up front will help save you money and headaches in the long run. Take the time to find the right building now, and you’ll reap the benefits in the future.