The number of home businesses in the UK is growing exponentially, with 2.75 home business owners currently working from the comfort of their own homes. A large number of these business owners will be selling products, which they may or may not actually see with their own eyes. Why? Well, many of these business owners employ the use of an offsite warehouse.
It makes sense, storing a mass amount of stock in their own home would be difficult. It would take up a lot of space and be hard to track. Which is why, as this economy of home business owners grows, it pays to be the warehouse handling their stock for them. So, what do you need to do in order to start your own warehouse business and profit from this trend?
Lease the Right Space
Of course, you could build your own warehouse. But, that takes time and typically a lot of money – not two things many of us have in abundance. Which is why leasing a warehouse and adapting it to your needs is a much easier solution. It also means that as your business grows you can also move warehouses to match this expansion.
Distribution of stock may seem like a simple endeavour, but it is one that needs a heavy amount of logistics and planning. Not to mention the manual labour to actually move the products around the warehouse, as well as in and out of it. When first starting out it is necessary to hire an experienced shipping and receiving person who can keep track of the various stock. As well as a number of labourers for the more physical activities such as lifting and forklift driving.
A logistics professional may also be required to determine where in the warehouse you store a client’s stock. Lots of decisions go into this choice; frequency of stock intake and outtake for particular clients, size of stock and even if it is perishable in certain environments. This is something you can do yourself but is best performed by a professional.
Prioritise Machinery Maintenance
Your warehouse lives and thrives on your ability to move things into it, around it and then out of it again. So, suddenly being unable to do any of these things can be dangerous for your business. As such, it is vital that you have a regular maintenance schedule set up in order to ensure all machinery is working to an optimum standard.
Your most important piece of machinery in a warehouse is typically the forklift. Such checks should cover wear and tear of parts, overall performance level and especially the forklift battery condition. Ultimately, your forklifts are vital to moving stock around the warehouse. So investing in high-quality machinery is important, but so is maintaining it consistently across its life to ensure optimum use and performance.
At the end of the day, starting your own warehouse business offers a world of opportunities. You only need to ensure that you have the right space, staff and equipment in order to achieve your goals.