With rising inflation and sweeping changes overtaking various industries, business storage hasn’t been immune in the least. In fact, it might just be one of the top industries to be affected by surging prices.

Just as the pandemic saw businesses shutting down, it also welcomed those that flourished. With a shifting demand reallocated among market players, business and commercial storage experienced an increase in popularity.

If you’re thinking about how that’s even possible, considering that the pandemic should have had an opposite effect, take a closer look. Traditionally, businesses rent warehouse space for keeping their inventory. With coronavirus causing mass devastation, all companies were forced to cut down expenses.

While large ones couldn’t practically shift from a warehouse to business storage, small ones could, and they seized the opportunity for the better. After all, no matter the economy’s condition, businesses must find a safe space for their valuable resale items.

But that’s only the tip of the iceberg. Rather, it isn’t even the main reason! The demand, and thus the price, for business storage also went up because COVID-19 gave many budding entrepreneurs the chance to bring their ideas to the centre stage.

It seems that people being stuck at home wasn’t so bad after all! Because it gave hundreds of emerging start-ups the perfect launching platform. Simply put, the overwhelming demand created by business owners, in part, resulted in costly business storage.

Ultimately, leaving thousands to contemplate whether the price hike will continue to break records or settle down at a reasonable average sometime soon. And it all depends on speculation. The virus continues to mutate, subjecting businesses and their operators to further challenges. 

Through a rippling effect of sorts, the consequences are, therefore, highly unpredictable. But one thing is clear, business storage and self-storage as a whole are being recognized as viable investment opportunities. 

A report launched by the Self Storage Association reveals that the industry is doing exceptionally well, with a 16% increase in revenue over the year. Naturally, this growth isn’t invisible to investors in the slightest. 

So, if an expansion of the industry’s boom is on the horizon, it can be accurately deduced that multiple players will contribute to its growth. Moreover, commercial storage isn’t just a keen investment opportunity for individual investors. Now, that’s just thinking small.

The same report by the SSA also shows that equity funds, as well as similar institutes, are eager to tap into the market because of how promising it looks.

Needless to say, things aren’t as pleasant from the business owner’s perspective. Piling costs, if not managed properly, can have the worst kind of repercussions. So, if you’re an entrepreneur bearing the brunt of the recent hike in rent, it’s high time you evaluate your costs.

Are you paying more than you should?

While increased prices are the new normal, it doesn’t mean the ones you’re paying are justified. Because there are so many companies offering business storage these days, it is difficult to pinpoint which one is the best, or better yet, worth it.

Hidden charges and exploitative marketing make it even harder. If you’re convinced that the company you keep your business inventory with is worth the buck, it won’t hurt to confirm, right?  

In essence, you should be looking for as many features for as little price as possible. 

  • Collections and returns

A good storage company needs to have reliable removal experts. Otherwise, you’re simply throwing your money down the drain. And top names like STORED are already one step ahead. 

Not only do they offer easy collections, but that too for free, at least the first time around. Return services, although charged for, are also built around your convenience. In that, you must simply inform the company of what you need to be delivered back to you!

  • Security

Business owners who rent a facility for their inventory know that security cannot be compromised. As an ambitious entrepreneur, you spend thousands in making or buying your products. If they are somehow damaged, you’re left with devastating losses keeping you up at night. 

Thus, you should prioritize features like CCTV surveillance and manual guarding to justify the price you’re paying in commercial storage rent.

  • Experience

Let’s be honest, and you can’t possibly get out of paying storage rent, so then why not pay for something worth it? When it comes to choosing a company for business storage, make sure you go with one that has the most experience. 

While more experience does not always mean a stellar service, it does increase chances of reliability! And that’s what truly matters when it comes down to making the right decision.

Some of the longest-standing companies in the UK have had years, and even decades, to prove their viability to the crowd. Needless to say, that’s not something you should take lightly.

How to save on business storage

Business Storage in the UK might be getting costly, but this doesn’t mean you can’t still save up where possible. Quite the contrary, actually! Because storage companies are raising their rates, they also need something to entice new customers with. 

That’s why the most popular ones in the UK offer newcomer, early bird, or long-term discounts. For instance, when you rent a unit at STORED for six months or longer, you’re eligible for a 15% discount. 

So, don’t just take a back seat and do your best to reduce business costs. Rest assured, if you make the right moves, your company’s revenue will compensate for its expenses over time.