As your trading company grows, you may soon find yourself having to set up a warehouse for it. This is where you’d be storing extra inventory – that which is too much to be displayed in the company’s showrooms. With a warehouse, it will be possible for you to keep several weeks’ (or even several months’) inventory. This way, even if there are disruptions in the supply chain, you’d be in a position to keep your trading company running (selling whatever was in the warehouses) even as you wait for the supply issues to be sorted out. Conversely, if you have no warehouse, and you only order for new stock when the old stock starts running low, you could be very badly affected if there are supply disruptions.
Contrary to what one may imagine, you don’t necessarily need to have lots of money while setting up a warehouse for a trading company. Yes, if you are building a new warehouse, or purchasing a new warehouse in cash, you will need to have lots of it. But there is also the option of renting the warehouse or acquiring one on mortgage. Renting is particularly cheap. You can afford it, even if you are relying on your personal resources to keep your business running. Like, for instance, if you work at USPS, and you are relying on your liteblue eretire 401(k) funds to keep your trading company afloat, you can still afford to rent warehouse space. In that case, you only need to visit the liteblue epayroll login page, sign in there, and proceed to see how rich your retirement fund is. Then you can ‘borrow’ some money from the retirement fund, and use it to improve your trading company, by way of renting some warehouse space.
In the final analysis, while setting up a warehouse for a trading company, you need to:
- Figure out how much warehouse space you actually need.
- Identify a ready-built warehouse with that much space (or otherwise acquire a piece of land where you can build a warehouse with that much space).
- Acquire the funds necessary to build or rent the warehouse.
- Make the necessary payments for the warehouse.
- Prepare the warehouse, by installing the necessary furniture – including wood pallets for the floor, ventilations (if these weren’t provided in the original plan), shelves… and so on.
- Move stuff into the warehouse.
- Consider installing inventory management software, to track the stuff that is stored in the warehouse, lest it be pilfered.