As a business owner, you may consider using some of the extra space on your property to build a storage space for your inventory. This can be a great way to save on commercial rental costs, but there are some things you should consider before taking the plunge. Here are some pros and cons of building a storage space for your business on your home property.
The Pros of Building a Storage Space for Your Business on Your Home Property:
1. You’ll save on commercial rental costs.
If you’re paying commercial rent for storage space, building your own storage space on your property can be a great way to save money. You can use the money you save on rent to invest in other aspects of your business. This can be a great way to reduce your overhead costs and improve your bottom line.
2. You’ll have more control over security.
When you store your inventory at home, you’ll have more control over who has access to it. This can be helpful if you have valuable items susceptible to theft. Many entrepreneurs use their garages for this purpose. They only need to install commercial garage doors to improve the security of their inventory, and they’ll have complete control over who has access to it.
3. You’ll have easier access to your inventory.
It can be time-consuming and inconvenient if you constantly have to travel to and from your storage unit to retrieve inventory. Having your inventory stored on your property will make it much easier to access when needed. Some business owners even choose to live on their business property to keep an eye on their inventory at all times. So, if you’re looking for a more convenient way to store your inventory, building a storage space on your home property may be the way to go.
4. You can use the space for other purposes.
If you have a large property, you may be able to build a storage space that can double as a workshop or office space. This can be a great way to get the most out of your property and save on commercial rental costs. If you’re not using the space for storage, you can use it for other purposes, such as a home office or workshop.
The Cons of Building a Storage Space for Your Business on Your Home Property:
1. It can be difficult to get zoning approval.
Depending on where you live, you may need special zoning approval from your municipality to build a storage space on your property. This can be a time-consuming and costly process that may not be worth it for some business owners.
2. It may not be as secure as a commercial storage facility.
While adding additional security measures like an alarm system can help, commercial storage facilities usually have more comprehensive security measures than most homes. Especially if you’re storing higher-value items, you may want to consider the extra security a commercial facility can provide.
3. It can be unsightly.
If you’re planning on using part of your yard for storage, it’s essential to consider how this will impact the curb appeal of your property. For many people, having a storage shed in their yard is simply not an option due to HOA regulations or because they feel it would negatively impact their home’s value. Remember, first impressions matter; you don’t want your home guests to be turned off by unsightly storage shed.
4. Landscaping around the shed/space can be expensive.
Despite their size, storage spaces can be expensive to build. In addition to the cost of materials and labor, you’ll also need to factor in the cost of landscaping around the shed. This can include things like fencing, paving, and drainage. If you’re not careful, the cost of building a storage space on your property can quickly outweigh the benefits.
5. City regulations may limit the size or type of storage space you can build.
Before you start building, check with your city or municipality to see if there are any regulations limiting the size or type of storage space you can build on your property. For example, some cities have strict rules about the height of storage sheds. Others may only allow certain types of construction, such as wood or metal.
So Should You Build a Storage Space on Your Home Property?
Building a storage space in your home can have advantages and disadvantages. Be sure to consider all the factors involved before making a decision. If you decide to build, check with your city or municipality to see if there are any regulations you need to be aware of. With a bit of planning, you can create a storage space that will work for your business.