They are numerous reason why you may find yourself in need of warehouse space in New Jersey. If you have a business that delivers or stores commerce products, then renting warehouse space is a viable option. But before you jump the gun, you should determine the immediate needs of your business. Are you producing enough sales to warrant warehouse space? Do you even have enough stock to fill up your warehouse rental? These questions are only the beginning— here are 8 more things to consider before renting warehouse space.
1. Budget Your Warehouse Space
When your home or place of business is overflowing with products that have yet to be sent out, renting space in a warehouse is going to be your first thought. It serves as the ultimate solution, plus it’s a good sign that business is booming, right?
Even if you are generating higher sales, that doesn’t always mean that this large of a space is within your budget. Go through your profits and expenses before immediately signing a rental agreement. You’ll also want to know how to calculate the monthly cost for warehouse space in New Jersey.
The next bit of research you’ll have to do is find a location. Have a handful of properties in mind and then do your due diligence to determine which location is the most feasible. You will need to weigh out your options and determine which one is closest to your primary work base, which warehouse facilities provide the most amenities, and of course, which space has rental options within your budget.
As we mentioned, timing can help dictate when you want to rent warehouse space. Once your workspace has become littered with boxes of your product, you will immediately start looking into extra storage space. The thing to keep in mind is whether or not right now is the opportune time to make this investment. Warehouse space in New Jersey isn’t always cheap, and it’s even more of a hassle if you’re trying to move all your products to your new space during the winter. Timing is everything, so make sure you’re fully prepared to make the commitment.
4. How Much Space You Need
Thankfully, warehouses offer spaces in a variety of sizes, which can save on your costs. If you only need to store a few boxes, you can opt for the smallest (and cheapest) space available. However, figuring out how much space you need isn’t as easy as it seems.
When you’re looking into your space measurements, you have a few things you need to keep in mind. Do you need forklifts or other machinery to help move the products in your warehouse space? Then you’ll need to account for storing that as well. Can your products be stacked? If not, then you probably need more space than you originally accounted for.
5. Ceiling Height
Ceiling height is another determining factor when considering renting warehouse space in New Jersey. Again, any extra equipment you may need to store in this space will need to be determined beforehand. You don’t want to rent out a small space only to find out that your ladder doesn’t fit inside your new rental.
Based on how your products get shipped, you will need to factor in loading space available at your warehouse space in New Jersey. Grade level loading works fine if you only have a few products that you can transport with traditional vehicles (i.e. a van or a truck). However, if you plan on having commercial-grade vehicles like 18-wheeler trucks coming in to take out your products, then you need to inquire about their dock-high loading options.
When touring a warehouse facility, always make sure to ask about their amenities. Just because power and HVAC systems are available for your rental doesn’t mean they automatically come in your agreement. Ask if power is available for your unit and if so, how much you will be able to access. You will also need to inquire if this is covered in the base cost or if it is an additional charge based on your electrical needs.
8. Access to Highways
And the last thing to consider when renting warehouse space in New Jersey is its accessibility to highways. If your product is being shipped out around the state (or throughout the country), then immediate access to highways can save you time and money. If you are outsourcing your delivery service, then you may be charged by the hour, which puts a huge dent in your budget arrangement if they have to drive a ways to get to the highway.
Do you want to own your own warehouse space? Contact Palestina Scrivo Properties or call (973) 338-2333 for a free property investment consultation.