When your business starts to grow and you realise that you are going to need more space, you will come to a decision about whether to buy your own industrial space or renting an industrial unit from a self storage company. It is important that you take into consideration how your business operates and if there is a chance for more growth in the near future as this will tell you not only how much space you need but whether it is best to rent or buy. 

For most businesses, it is best to rent an industrial unit and within this article we are going to discuss the reasons why and how this choice will benefit your business. 

Cost-Effectiveness of Renting Industrial Units

Depending on where you are within the UK, the cost of buying an industrial unit will vary. However, no matter where you are, you are looking at a hefty price tag. The price of buying an industrial unit can be anything from £100,000 to millions of pounds. 

Renting an industrial unit will come with a much smaller price tag making them a much more cost-effective option for your business. Renting a unit will also reduce the maintenance and repair costs as the storage company will be in charge of doing this work and covering the costs.

Flexibility and Scalability

When you rent an industrial unit you will get the added benefit of flexibility and scalability. You will be able to upgrade to a larger unit or downgrade to a smaller unit as your business needs change. This is very important for all businesses because you don’t want to be trapped in a unit that doesn’t meet your needs any more or with space that is going unused. 

The flexibility which comes with rented industrial units is good for smaller, growing business and start-ups as you will be able to get short-term rental agreements, allowing you to figure out which type and size of unit works best for you.

All our industrial units come with flexible rental agreements, allowing you to upgrade and downgrade, if and when you need to. With our industrial units, you are also free to leave your unit before your rental period has expired. We just need 14 days notice and you will be refunded for any unused days.

Access to Strategic Locations

The location of your industrial units is important. You want it to be accessible in order to work best for your deliveries and the distribution of your products. Renting an industrial unit can provide you with access to these types of prime locations that would, most likely, be extremely expensive to buy. 

With all of our Cinch Self Storage stores, we have aimed to find a location that is primed for the local community and for local businesses. 

Reduced Responsibility and Hassle with an Industrial Unit 

Renting an industrial unit will also reduce the responsibility that you have with regard to the maintenance and the security. The maintenance and security will be the responsibility of the landlord or storage company. 

There are many advantages to not having to deal with the property management side of things, mainly that you do not have to spend money or time dealing with these kinds of issues. 

Enhanced Facilities and Amenities

In a similar vein, you will also not have to worry about installing the unit with specialised facilities such as loading docks and storage solutions. These will come already installed by the landlord or storage company. 

Also, you will not have to worry about utilities. These will be included in the rental price but you will not have to worry about installing anything such as lighting or electricity. 

Networking and Business Opportunities with an Industrial Unit

Networking is an important part of owning a business. It can give you access to new opportunities you might not be able to find on your own and a list of business contacts which will be a great resource for fulfilling company needs, such as an ideal candidate for a job position. If you are new to the business world you could also find a mentor who can help you to learn industry standards and be someone you can turn to for advice. 

Renting an industrial unit will offer up the potential for networking with the other local businesses that rent in the same complex or storage company facility. This will allow you to find the people who you can collaborate with, form partnerships and even friendships, based on the camaraderie of being in the same world of business ownership.

Potential for Short-Term Projects

A big benefit of being able to rent an industrial unit is that businesses can take on short-term projects, which require extra space, without having to sign up to a long-term commitment on an industrial space. 

An example of a project-based use is that you could use a rented industrial unit as a showroom. If you are wanting to show clients or customers your producers, without having to commit to a retail space, a rented industrial unit could provide you with this space. 

Why You Should Rent an Industrial Unit

You should rent, and not buy, an industrial unit because there are many, many benefits. Renting an industrial unit will give you a cost-effective, flexible space which you can use for your long-term business growth or for a short-term project. Renting an industrial unit will also give you access to locations that could be out of your price range when looking to buy. Alongside this, you will also not have to spend any of your time or money on the maintenance or security of the unit. This will be taken care of by the landlord or the self storage company. You will also gain networking opportunities as you will be within a complex or facility with other local business owners. 

Renting an industrial unit will benefit your business in the long run, allowing it to grow and thrive. 

If you would like to know more about our industrial units available to rent, please click here to find your local store.