This article covers the benefits of self-storage and storage insurance for seasonal business owners looking to save costs on storage space.
When you manage a seasonal business, the holiday season is a time of year that can significantly increase the demands on your business for more stock and equipment.
While of course this is good news for most business owners, often bringing in the highest levels of profit for some businesses than at any time of the year, it does bring in a few problems. These can include:
- Practicalities: where are you actually going to store your additional stock to cater to this increasing demand?
- Staff: do you need to take on more staff for this increased demand, and if so, have you got an employer’s liability insurance policy?
- Insurance: have you got insurance to cover your stock? If you are a storage unit, we’ve covered getting the right insurance below.
Paying for a large storage unit or warehouse premises all year round only to fill it up for a quarter of the year doesn’t make much sense – and it’s in these cases that self-storage can be the perfect solution for seasonal business owners.
Storage Insurance for Seasonal Business Owners | Contents:
- What is self-storage?
- What is storage insurance?
- Benefits of storage for business owners
- Storing seasonal stock
What is self-storage?
Self-storage units are rented to business owners and individuals to store their goods remotely, either on a short-term or long-term basis. In many cases, self-storage is considered one of the more secure ways to store belongings, both for individuals and for businesses.
If you currently rent out a storage unit for the bulk of your business, renting out a self-storage unit to account for the extra stock you need throughout the seasonal period can be a secure and affordable solution to storing this stock without having to pay additional fees for a large unit for the entire year.
Storage insurance will cover the items you are storing from unexpected damage or loss, due to incidents such as natural disasters (flooding, earthquakes etc), leaking water, vandalism or theft, falling trees, and a number of other events.
Your policy will either replace or reimburse you for the value of those items (at the discretion of your insurance provider), something that can be extremely valuable to business owners who rely on the safety of their stock in order to make a living.
The benefits of self-storage:
- A good self-storage unit will have CCTV, manned security, perimeter fencing, and a sign-in book so you know that your stock is secure
- There’s no long term commitment, so you can rent your unit only for as long as you need it
- Most facilities are open 24 hours, so you can easily access your stock as and when you need it
- Storage is typically priced per square metre, allowing you to save on costs
Flexibility for seasonal business owners
The main benefit of using self-storage for your seasonal business is, therefore, the flexibility it offers.
Rather than shelling out for a permanent unit or warehouse to store your stock, you can take out a short-term contract to accommodate the demands of your business.
Additionally, you can take out a self-storage insurance policy for the same amount of time you are renting your unit, saving you money in the long-term while also protecting the value of your additional stock.
Storing your seasonal stock
If you run a Christmas stall, operate at fairs or markets, or simply run a business that is more popular during the seasonal period, having a self-storage unit can be the most cost-effective and secure solution to storing your excess stock when you need it on hand, but not cluttering up your home or garage.
For many self-storage units, you are required to have storage insurance, which will protect the contents of your unit.