Summer markets and festivals are almost in full swing again and effective stock storage is essential. Whether you’re an online retailer, have a shop premises or you have a stall at an event, do you really need to keep all your stock with you? In fact, many businesses use self-storage facilities for stock storage as it keeps their home or office uncluttered.
The greatest benefit here is peace of mind. People know they can access things whenever they need to and that it’s kept clean, dry and safely locked away.
There is so much to learn about attending events especially if you’re a newcomer. To help you along, we’ve singled out these three key factors to keep in mind:
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Choose the right event
Research different events and find out venue size, location, number of people expected, stall fees, the vibe they are promoting and parking availability. Events that are easily accessible to the general public and advertised across multiple channels have generally proved to be more successful.
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Promote yourself
Never underestimate the importance of social media. Using appropriate and relevant hashtags and mentions on Twitter, blogs and Facebook posts are but a few good ideas. Using Instagram or Pinterest for snap shots of your products can get people talking and sharing. Promoting the concept of limited stock and only available at the festival could create quite a buzz.
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Develop strong relationships
The old saying still rings true that it’s not what you know but who you know! We all understand the importance of networking and this includes the event organiser, other vendors, suppliers and festival goers.
Stock Storage and Transport Tips
Some events don’t allow you to restock if it’s a one day event so we recommend that you confirm with the organisers beforehand. If you are able to restock, use a trailer or a nearby self-storage facility to store all your stuff. If it’s close-by you can easily slip away to collect additional items and replenish your stock without a sweat.
Remember to pack your storage unit properly:
- Don’t put things right by the door or pack without a plan
- Protect important items with bubble wrap
- Store important items close to the front for ease of access when collecting
- Clearly label boxes or containers so you are able to find what you are looking for in no time
The same principles apply when packing your car or trailer for transporting your goods. Check out these useful tips to ensure safe transit.
Stock Storage solutions for businesses
Almost every business must store its stock which could be damaged, stolen or become obsolete over time. Due to the cost involved in stock storage, a company will try to hold the minimum amount while still meeting client demands.
The minimum stock a company can hold will depend on several factors. These include the time between placing an order with a supplier and receiving it which is commonly known as the lead time.
Based on historic data, you can determine the maximum time it takes the supplier to deliver after you placed an order. For example, delivery usually takes two weeks but sometimes three. This means your maximum lead time is three weeks.
- How do you calculate your maximum weekly stock usage? Your company’s stock records will provide the data you need. You have to take into account seasonal factors as well. If your company sells 200 stock units per week during the year but 400 units during high season, your maximum usage will be 400 units.
- What about the minimum stock level? The simple answer is to multiply the maximum lead time by the maximum weekly usage. Based on the above example, 3 weeks x 400 units = 1200 units during high season. For the rest of the year, it would be 3 weeks x 200 units = 600.
There is one more important thing to check if you’re using self-storage for business stock –your business insurance policy. Make sure it covers your goods being stored away from your business premises. If not, you may need to take out temporary insurance cover.
All sorts of businesses use our facilities at Space Centre Self Storage; some for paperwork and others for stock or equipment. You can store your items for as long as you need and we do not ask for long term commitments meaning you have the flexibility to cancel or change your storage needs as required.