When running a business, you’ll be faced with the decision to rent, buy, or build a commercial property. Taking into account the high upfront costs and the maintenance responsibilities that come with building or buying, you might see the benefits of an industrial warehouse for rent or factory lease. With leasing, initial costs are low, and you have the flexibility to move to another location depending on the growth of your business. How do you choose the warehouse or factory rental that’s right for your needs?
1. Location
The best location for your business will depend on its accessibility and proximity to third parties, such as customers and suppliers. The distance will impact transportation costs, which can add up over time. As much as possible, the warehouse should provide cost-efficiency without sacrificing delivery speed and customer satisfaction.
2. Business and economic factors
In relation to the location, you should also check if the facility is built in an area that is conducive to your business or industry. Thailand, for example, launched innovative business sectors to strengthen the industry, making it a viable option. Find out if there is potential for growth, the number of competitions, and the market trends. The goal is to guarantee long-term viability, so you should also look into a location’s stability in terms of economic factors.
3. Capacity, layout, and size
What are the specific needs of your business? Are you going to use the warehouse primarily for storage, inventory, or as an operational hub? Knowing all these will tell you whether you need a large space for the equipment, personnel, and inventory. The layout, on the other hand, will impact productivity and efficiency. How easily and quickly can you get from one end to another? Do you need machinery moving within the area?
4. Warehouse facilities
The warehouse needs to be functional and meet safety compliance. Otherwise, your business will have problems that can lead to a halt in operation and loss. So, what should you look for in terms of facilities? Check the floor load capacity, ceiling height, location of doctors, access to bathrooms or offices, parking, and the like. For efficient business operations, you should also look into the technologies that a warehouse has. An inventory management system or automation tools, for example, can help speed up business processes and eliminate errors.
5. Safety and security
Standard security features, such as real-time monitoring, alarm systems, and CCTV cameras, will give you peace of mind, knowing that unwanted access or intrusions are prevented. It’s even better if the facility is made of fire-resistant materials and comes with robust fire preventive measures. Any safety and security equipment installed will also tell you that a warehouse is compliant with the safety rules and regulations.
6. Rental contracts in terms
So, you’ve found the warehouse that you want to rent. What are the terms and conditions that come with it? Check out the lease duration, renewal options, and flexibility rules. For instance, can you use the property for other types of business, or is it strictly for warehousing purposes only?
Based on all the factors listed above, you can choose the most appropriate industrial warehouse to lease. You’re in good hands if the property aligns with your business goals and visions. If you’re looking for a warehouse to rent in Thailand, contact Rangsit Prosper Estate. They offer different well-designed commercial properties you can choose from.
