Having additional warehouse space that you can rent out can be a potential goldmine as a real estate agent. It requires little time and work to maintain, but can result in monthly income generation. But, simply having the space is not enough. You also need to learn how to advertise the space to the correct individuals to maximize your gains.
In this blog, we will be coming up with a business plan to help you advertise your warehouse space.
Understanding the Type of Warehouse Spaces
By identifying the type of storage space you have to rent out, you can come up with a tailored plan that fits that space. Not every warehouse space is equal, and the income potential can vary between them. Here are some of the more common spaces:
- Distribution Centers – These are large warehouses that are designed for the storage and distribution of goods on a large scale. These can be rented out at a much higher cost than most other spaces.
- Cold Storage Warehouses – These are storage spaces that are equipped with refrigeration or freezing capabilities. They will be suitable for food storage and pharmaceuticals. There is a common demand for these types of spaces, so you can find clients quite easily.
- Small Warehouse Units – Smaller warehouse spaces are often sought after by small local and startup businesses. Since these businesses don’t have much space themselves, they will look for storage options and the ability to perform light manufacturing tasks.
Understanding your Target Market
Before we move on to advertising and marketing strategy, you first need to know who you’re advertising to. This will depend on the type of warehouse space you have. For example, if you have a cold storage warehouse, then you should only be targeting local restaurants and medicine manufacturers. Advertising to the general public in this case will be a waste of resources. On the other hand, if you have small warehouse units, then you can advertise to the general population since they can be used by anybody.
Advertising your Warehouse Business
Creating a Compelling Warehouse Listing
No matter the type of warehouse, all of them will require a comprehensive listing to be advertised anywhere. Online advertising is generally the way to go when it comes to marketing these spaces, so you first need to focus on creating a great listing.
The following are the areas you need to mention accurately in the listing:
1. Detailed Property Information
The listing you create should include a comprehensive look at what you’re offering:
- Size – State the total square footage clearly, and include any other factors such as if you’re offering an office space as well.
- Ceiling Height – The height of the space is a critical factor that businesses look at so this needs to be specified.
- Loading Docks – This is an important segment for businesses that require frequent transportation. Both the number and the type of loading docks should be included.
- Parking – This may not always be applicable and will depend on the type of warehouse, but it’s best to include it.
- Unique Features – If your commercial property has any added features such as advanced security systems, energy-efficient lighting, or even proximity to major transportation hubs, then they should be included as well.
2. High-Quality Photos
When a potential client comes across the listing, an important element they are going to look at is the included pictures. These pictures will give them the first look at the warehouse space and can be the deciding factor in whether or not they are going to contact you. Ensure your listing includes high-resolution photos of both the interior and exterior.
3. Pricing and Lease Terms
Transparency is essential with these types of listings. You need to be clear about the monthly rent rates, the lease term (whether annual or multi-year), as well as any additional costs, such as utilities or maintenance fees.
Where to Advertise Your Warehouse Business
1. Online Listings
There are many online listing platforms and local real estate websites where you can advertise your space. These platforms have large visibility potential and can attract customers even if they’re not in your local area.
2. Social Media Marketing
Social media platforms such as LinkedIn, Facebook, and Instagram can be great places to promote your warehouse listing. You should ideally have a well-built social profile where you can share high-quality photos, virtual tours, and engaging content to attract potential clients. If you don’t have a profile, then running ads on these platforms will put you in front of potential clients much faster than building a social media profile from scratch.
3. Email Marketing
If you’ve been in the real estate market for some time, you likely have a comprehensive list of business contacts. You can utilize this list by sending out email marketing campaigns showcasing your warehouse space. While personalized outreach can be slow, they generally tend to yield better results than cold outreach. If you don’t have a list, then you could potentially get in touch with other real estate agents you know and get their help in advertising your listing among their contacts.
4. Local Business Directories
Local business directories are a great resource for connecting with businesses in your immediate area. Based on the type of warehouse space you own, you can generate a list of potential businesses in your area. Then with a bit of customer service on your part, you can contact them directly with your offer on the warehouse space.
Warehouse spaces are not a difficult service to sell. But to maximize your profits, you need to attract clients who are willing to pay high for the space that you have. Utilize the methods included in this blog to help you find the best clients for your storage space.