Are you planning to construct a warehouse for your business?
If so, you aren’t alone.
There are more than 420,000 warehouses in the United States. Approximately 20,000 of them have over 100,000 square feet of storage space.
Although more than 95 percent of warehouses have less than 100,000 square feet of storage space, that doesn’t mean that size is right for your company.
Deciding on the best size warehouse for you requires weighing multiple different factors.
Read on to learn more about the things to consider before your warehouse building is underway!
Look Towards the Future
A warehouse construction project shouldn’t start without you considering where your business is now and where it’s going in the future.
The warehouse you build today may be sufficient for your current needs. But where do you project your business will be in 5, 10, or 20 years?
It’s possible that when you consider the capacity of your business in the future, it will be worthwhile to build a larger warehouse now.
If you’re purchasing land to build a warehouse, it’s worthwhile to buy land that is big enough to allow you to expand the warehouse later.
But don’t overlook the fact that it may be cheaper to build today than it will be later.
Calculate the Costs
As a business owner, you’ve probably become used to creating a budget and sticking to it so that your company stays on track.
It’s a wise business practice to continue before you undertake a warehouse construction project.
The construction cost per square foot is $6.53! Based on that price, the cost to build a warehouse with a metal exterior that’s 50,000 square feet is approximately $326,500.
But the cost of custom metal fabrication will vary based on the warehouse interior and exterior materials used.
Where you build your warehouse is an important decision you can’t afford to overlook.
Just as when you were considering where to establish your office, the location of your warehouse makes a difference.
Avoid building your warehouse in an area that is too remote. If your warehouse location is too obsolete, it may impact its usefulness to you and your customers.
In today’s business world, time is money and your warehouse shouldn’t be inconvenient for you and other people. Otherwise, potential customers may choose to do business with your competition.
Wrapping Up: Make Important Decisions Before Warehouse Building
The decision to construct a warehouse building is an important one for your company’s future.
Because of the significance of this choice, take time to consider where you will build and how much it will cost. But beyond that, the company you pick to build a warehouse can make the difference.
By soliciting many bids from experienced contractors, you will get a sense of what competitive costs are in your community.
Before you undertake a warehouse construction project, spend time considering how your business will expand into the future. Do you foresee your business carrying a lot of stock or keeping goods stored elsewhere?
The answer to this important question will help guide your construction decision.
Are you interested in learning more ways to expand your business?
Check out our website to learn other helpful tips to help your company continue to grow!