How to Deal With Stock When You Have No Premises
You’re likely reading this article because you started a business that you run from home, and it involves selling physical products to its customers. Running any business is no mean feat, especially during the midst of a global pandemic.
Everything is going well for you and your business, and you’re experiencing consistent growth. But, one fact plaguing the back of your mind is how you’ve almost run out of storage space for your products at home.
What’s the best way of managing and storing your stock? Well, it turns out you’ve got a few options at your disposal. Here’s a brief run-through of the most useful ones for your home-based business:
Rent a Self-Storage Unit
Perhaps the quickest and easiest way to resolve your stock storage and management problem is by renting a self storage unit. With such facilities, you can keep your business stock in a safe, secure, and sheltered environment.
Many self-storage centres offer 24-hour access with a security key to enter the premises, making it a flexible choice for home-based entrepreneurs. What’s more, you can change to larger (or smaller) units as your business progresses.
Use a Fulfilment Service
Did you know some companies offer order fulfilment services to businesses? In a nutshell, you have all your stock delivered to a fulfilment centre from your supplier, and the centre takes care of storing your goods and processing your orders.
Companies like Amazon offer fulfilment services, and most charges fixed fees based on storage volume and the number of orders processed each month. What’s great about fulfilment services is there are no minimum requirements for storage or order processing.
That means even micro-entrepreneurs can use fulfilment services for their stock, and they can handle the admin side of things from their homes.
Use a Dropshipping Company
You may not know it, but the products you sell are most likely available through a drop shipping company. What is dropshipping all about, you might be asking yourself?
Dropshipping is a type of retail business where your customers place orders with you, and you subsequently place orders with the dropshipper, who then process those orders and sends the goods out to your customers on your behalf.
An advantage of dropshipping is your customer will be unaware you use a third-party business to process their orders. Any documentation provided with the goods can have your business details on it, including contact information.
Dropshipping is available for various types of niche markets. You’re likely to find a reputable dropshipper for the kind of products that you sell.
Have Orders Shipped From Wholesalers
Lastly, some wholesalers offer a dropshipping service for their business account customers. There are two notable differences between wholesaler-shipped orders and ones fulfilled by dropshippers.
Firstly, your business paperwork might not get included with each other. And, secondly, you typically don’t have to pay upfront as you do with most dropshippers.
When you run a business from home, you don’t have to worry about finding storage space for your products with the above examples.