June 02 2021
Starting a new business is one of the most rewarding experiences anyone can undertake. But it’s not to be undertaken lightly – the amount of planning that goes into starting a company is very detailed and time consuming. Plus you’ll need to raise a lot of capital and resources to ensure that your business survives the first twelve months.
Capital is the key to any business’s success. It’s a balancing act, with the scales being slightly different dependent on the sector your new business fits into. If you’re a product-based company you will have to balance out your capital between business costs, production and stock. You’ll also need to have a small fund available for emergency or unforeseen expenses. And plan out how much stock you need to produce for your initial run; what the materials are to make the product(s) and their costs. Then you’ll need to have a monthly amount of finances set aside for your business operating costs. For example, office or factory/depot rental, wages, taxes, transport, expenses, and many more.
Start-up companies and self storage
So let’s focus on one area of your future company’s budget – rent. As previously mentioned, the first twelve-months is one where you hope that your initial capital covers (if you’ve managed to raise some), and your main aim is to break even. That’s a great start, but a lot of businesses will run a deficit for their first year. Most businesses need an office, factory, or depot – maybe all three – to run their company. So one of your initial monthly expenses is premises rental. And at a time when commercial rentals are increasing, anyway where you can save on this could be a game changer.
Your first twelve to twenty-four months are a litmus test for you and your new business. So you should try to run your company with a small number of staff who can perform various duties; you want to hire an affordable premises that can possibly act as more than one function for a low a rate as possible.
So it might be a savvy move to think a bit differently, and take an alternative approach. Why not rent out one or multiple self storage units for your new company?
Rent a unit from Ready Steady Store
What you need for your first period of your company is a place where you can store your products and equipment. One that offers security, good access, affordable rental rates, and a good amount of work space. If you want to receive all of these perks then you should contact Ready Steady Store to see how using our self storage facilities could be the first step in your company’s success story.
At Ready Steady Store we offer drive up storage units that are perfect for loading and offloading. Our self storage units are accessible 24-hours a day, seven-days a week. This provides you with unlimited access to fit around your schedule.
We have a variety of storage units available to suit any sized business. So you have the option of hiring several smaller units or larger units, dependent on your business’s primary purpose.
Setting up a new company in Nottingham could be one of the most rewarding experiences you decide to do in 2016. We can help you start your dream by keeping your monthly rental overheads to a minimum.