How to Profit From Warehouse Space

Warehouses are valuable commercial buildings that can make significant profits.

A warehouse is any building that can store goods. Warehouses range from simple sheds to complex refrigerated buildings with dozens of loading docks. Making money from warehouse space may be done a number of ways with the best option depending on the local economy. You may also remodel a warehouse completely into a number of other buildings. Though it would not longer be a warehouse an office building or loft apartment building might make you more money.

Instructions

1. Advertise your warehouse in local and industry specific papers. If you have a refrigerated warehouse specializing in seafood storage you might advertise in fishing industry journals and websites. If your warehouse is not specialized advertise in shipping and trucking journals and websites. Make sure to specify how much space you can provide, how many loading docks you have, and how close you are to major highways and freeways.

2. Contact potential customers directly. Big box stores such as Wal-Mart and Best Buy routinely outsource for storage and if you can offer a competitive price you will have their business. Also contact local, state, and the federal government agencies for business. Many government bureaus generate copious amounts of records or surplus equipment and need to store them in both the short and long term.

3. Lease your warehouse to a company. By leasing the warehouse you receive rent instead of warehouse fees. This way you do not need to worry about finding clients for each square foot of warehouse space. Many companies prefer to lease space rather than use it temporary, Fed-Ex is an example of one. Additionally there are professional warehouse management corporations leasing warehouses as a business who may be far better at drumming up business than an individual owner.

4. Remodel your warehouse into another kind of building if all else fails. Many older warehouses find it far more profitable to remodel themselves into lofts and apartment buildings. New York is famous for it's remodeled warehouse apartments. Warehouses also make good factories as they have loading docks built in and are located close to other businesses in most cities.

References

• Starting a Small Business: Starting a Distribution Warehouse
• Logisticslist: Outsource Warehousing
• Loft Genx: The Art of Remodel Warehouse Loft
• Small Business Plan Resources: Transporting and Warehousing