Warehouse rental in Singapore is essential for any business that wishes to develop into a sustainable and effective entity. You can much better manage logistics and costs when using a warehouse. Without proper storage and storage management, you are stifling your current and future growth.
In this guide, we will look at the major benefits of warehouse rental in Singapore and how and where these benefits apply to you. Read until the end and you will have a more holistic understanding of storage and its role in business efficacy.
1. Expanding Your Storage Capacity
The main benefit of using professional warehousing services is of course the fact that they deal in floor space. They give you all the room you need for your inventory or business storage requirements. Some facilities, notably BEAM Space, allow you to flexibly adjust your storage needs without having to sign long-term contracts.
2. Optimising Inventory Management
Warehouse rental in Singapore allows you to keep inventory in a centralised location. This will enable you to more effectively manage your stock levels and meet client orders faster thanks to uniform and predictable delivery times facilitated by a fixed central warehouse location.
If you store at a warehouse with an existing inventory management system in place, it will make it easier and cheaper for you to manage your inventory as you will not need to dedicate additional manpower to the task.
3. Enhancing Distribution Efficiency
Warehouses are generally located close to major rail, road and/or shipping networks. This gives your business a strategic advantage by allowing you to use these logistics to speed up and reduce the cost of fulfilment to your client.
4. Warehouses Are a Cost-Effective Storage Option
Comparing Warehouse Rental Prices in Singapore
These are factors that determine the price you will pay for a warehouse:
Location
When looking for a warehouse for rent, a business needs their storage facility to be close to the main freight and goods networks, i.e. near rail lines, ports or other major transport hubs. This would make that warehouse more expensive since it will be in higher demand. For example, warehousing located in Jurong, Tuas or near the Port of Singapore would be in high demand and leases would carry a higher price.
Warehousing in regions in the north and east of Singapore will be more affordable due to a lower demand. Businesses warehousing in these regions would need to invest additional time and money to transport goods to and from the facility.
Size and Space Requirements
In general, the more storage space you need, the cheaper the cost per square foot becomes. Larger businesses pay less per square foot than smaller businesses, but overall their rent would be higher. Small to medium-sized businesses pay more per square foot of storage, but their overall rental price would be lower than larger businesses.
BEAM Space is unique in the warehousing space. It offers a pay-per-item option where, for as low as $4 per item, you can store items individually, and your overall rental becomes lower with each item you sell. This is great for smaller businesses that want convenient and affordable goods storage.
Facilities and Amenities
Warehouse amenities include forklifts, pallet trucks and other specialised equipment. The more amenities a facility has, the more expensive the costs become.
Consider what you wish to place into storage, how often you need to access these items, what type of on-site security is available, along with any other requirements you may need. Pick your facility based on these factors.
Lease Terms
For most warehousing, the longer your lease term, the lower your rental costs. A monthly or yearly lease will fall under a short-term contract, whereas three or more years will generally fall under the long-term storage banner.
Market Trends
Market trends can influence warehouse pricing in a variety of ways. For example, during times of economic prosperity, warehouse space will be in high demand and drive the cost per square foot higher. This is a good example of how a longer lease term can save you money as it keeps your rental amount lower during times of unpredicted price fluctuations.
Finding the Most Affordable Options for Your Budget
For most small to medium-sized enterprises who need warehouse rental in Singapore, cheaper facilities in the north and east of Singapore may be a better option. The lower rental prices in these areas are great if you only focus on small local trade with no plans to grow.
A better option is a storage specialist like BEAM Space who is centrally located next to major transport hubs, yet still offers exceptional value, along with many added benefits like a valet concierge service.
5. Climate-Controlled Storage Space
If you have products or items that are sensitive to temperature or humidity fluctuations, a warehouse with air-conditioned facilities will ensure your items stay in perfect condition for longer.
This is especially important with the tropical climate we experience in Singapore. It should be noted that cold storage warehouse costs would naturally be higher than just a standard unit.
Goods that benefit from climate-controlled storage include:
- Electronics
- Clothing and fabric
- Collectables like stamps, toys, coins, and memorabilia
- Film and photographic equipment
- Musical instruments
- Wine
- Antiques and artwork
- Medical supplies
- Candles
When it comes to climate-controlled warehouse rental in Singapore, it is also a good idea to do some research on the warehouse management at the facility, so you can make sure they apply best practices to their sensitive goods storage.
6. Improved Supply Chain Management
A dedicated warehousing space will improve the workflow of your organisation. It makes stock easier to handle and deliver to clients, improving their level of satisfaction. A dedicated warehouse space gives you options like bulk shipping which saves money and improves your distribution efficiency.
7. Facilitating E-Commerce Operations
E-commerce operations can gain four major benefits from warehouse rental in Singapore. These are:
- Improved order fulfilment due to improved supply chain management.
- Helps manage fluctuating stock requirements of a startup business.
- Warehousing is much less expensive than using a private rental space for storage.
- Warehousing has a range of additional benefits like on-site security and cleaning services.
8. Scalability and Flexibility for Business Growth
If you are currently storing inventory on-site at your office, you will free up additional space on your premises that can be used to expand your business. You will have room for additional staff, multifunctional office spaces, document archiving or anything your business needs to grow.
Some warehousing facilities allow you to upgrade your existing storage space, should your business expand and your storage needs increase. For example, a facility like BEAM Space allows you to easily upsize your storage space with no need to sign new complex contracts.
BEAM Self Storage Offers the Best Warehouse Rentals in Singapore
Warehouse rental in Singapore can become complex and potentially expensive. Fortunately, Singaporean businesses can easily sign up for convenient and premium storage solutions from BEAM Space.
With business storage and warehousing services that cater to small, medium and large businesses, BEAM Space will quickly become an integral part of your success.
Visit us today and learn how Beam works to store your inventory and other business goods.