Small businesses often struggle to find affordable and flexible office spaces that meet their needs. Renting traditional office space can be expensive and, depending on the business in question, cumbersome — especially for businesses that require only a small space for their office itself, but need extra storage space for inventory or operations.
Fortunately, small bay warehouses provide a cost-effective solution for small businesses in need of office space, along with plenty of storage. Today, let’s explore this unique solution to a common small business hurdle.
What are small bay warehouses?
Small bay warehouses are also known as office warehouses, or more simply, flex space. These are a subset of commercial properties that combine office space and a warehouse in a single unit.
They are typically smaller in size, ranging from 1,000 to 5,000 square feet, and are perfectly designed to meet the needs of small businesses (although larger businesses have been moving into flex spaces for a variety of reasons, such as the continuing increase in e-commerce across the globe). The office space is usually located at the front of the unit, while the warehouse is located at the back. This layout allows businesses to have a professional office space while allowing for easy access to their inventory and equipment.
Benefits of small bay warehouses
Savings
Small bay warehouses offer several benefits for small businesses — but one of the biggest advantages is the cost savings. Since the space is smaller, the rent is typically lower than that of traditional office space. Additionally, since the warehouse space is included in the unit, businesses can save money on storage costs. The inherently flexible layout also allows businesses to easily adapt to changing needs. For example, if a business needs more warehouse space, it can rearrange the layout to accommodate their needs without difficulty.
Location
Another major advantage of small bay warehouses is the location. They are typically located in industrial areas or business parks, which can provide easy access for shipping and receiving. This can be especially important for businesses that rely on regular deliveries or need to ship out products to customers. However, these locations can also prove advantageous to businesses that rely on foot traffic. For example, when I develop my own office warehouses, I choose land located in a five-mile radius within 900 homes — this has proven to provide plenty of traffic to the types of businesses that find themselves using flex spaces.
Community
In addition to cost savings and flexible layouts, small bay warehouses also offer a sense of community. Since they are often located in business parks, small businesses have the opportunity to interact with other like-minded business owners. This can lead to collaboration and networking opportunities that can benefit all businesses involved. Speaking from experience, I know the tenants in my own flex space developments personally, and have been able to collaborate with and do business with them as well.
Space
Small bay warehouses are also a great option for businesses that require a workshop or production space in addition to an office. They allow businesses to have everything they need in one location, which can increase productivity and efficiency. Businesses like HVAC repair, landscaping, swimming pool supply stores, car wrapping and detailing shops, and countless others can all do business in these spaces thanks to the plentiful workspace.
To sum up, small bay warehouses are an affordable and flexible option for small businesses in need of office space. They offer a variety of benefits, including cost savings, flexible layouts, convenient locations, a sense of community, and the ability to have all necessary business components in one location. If you're a small business owner in need of office space, consider renting a small bay office warehouse as a cost-effective solution.
However, if you’ve reached the end of this post and are considering getting into flex space as an investor, keep reading. I offer opportunities to not only invest with me, but also learn how you can build and scale your own office warehouse developments too. If this piques your interest, visit Flex Space Untapped — you’ll find everything you need to get started right there. I’ll see you at FSU!
Maximizing real estate success: The ultimate guide to working with brokers
In the world of real estate, time is money, and wasted time is wasted money. Brokers can help you save time and money when it comes to researching, networking, and closing deals. Keep reading to see everything you need to know about working with brokers in real estate deals.
Read MoreComprehensive guide to deal analysis for small bay warehouses
Deal analysis refers to the process of evaluating the financial and qualitative aspects of a potential investment or transaction. In the context of commercial real estate, deal analysis involves a comprehensive assessment of a property or development project to determine its profitability, risks, and feasibility. In addition to due diligence, deal analysis is another step I take to ensure I’m putting my money in a secure investment.Deal analysis entails analyzing various factors such as market conditions, income potential, expenses, financing options, projected cash flows, return on investment, and risk assessment. The goal of deal analysis is to make informed decisions about whether to proceed with an investment, negotiate terms, or explore alternative opportunities based on a thorough evaluation of the deal's financial and qualitative aspects.
Read More
Submit a Comment
Your email address will not be published. Required fields are marked *