When you put the term ‘warehouse space’ side by side with the term ‘industrial space’, you will usually presume that there is no difference between the two. Well, you are not the only person who thinks that. The truth is that many are confused when it comes to distinguishing between the two. There is actually a difference between these two terms. Let us look closely into those dissimilarities.
What is a warehouse space?
Think of storage space and you will actually realise that this is what warehouse space is all about. Expounding into that thought, however, you will realise that this space offers more than just an area where you can pile boxes one over the other. In warehousing parlance, you have to understand that your software, machinery and people must all work smoothly and with lesser error than usual. These components are important to attain the accuracy and precision that your warehouse space needs in order to serve your clients. Add to this, a warehouse space cannot be expanded unless of course you purchase one.
What is an industrial space?
Industrial space, on the other hand, covers more than just what warehouse space can offer. Most of the time, an industrial space can be used for every integral part of your business operations from assembly, fabrication and manufacturing to conducting regular meetings with the rest of the team. Industrial space has to be manipulated by human beings who will take charge of every aspect of business operations. Simply put, industrial space covers office and warehouse space all at the same time.
The importance of knowing the difference between the two
Establishing the difference between warehouse and industrial space will help you find out which type of space will be best suited for your operations. Many times, you can commit the error of renting a warehouse space when what you actually need is industrial space or vice versa if you do not have enough knowledge between the two. You will never want renting a large space when what you need is a smaller one and you will never like the idea of squeezing in all your business operations into a small space where jobs can get congested and your employees suffocated due to the lack of space.
When should you opt for a warehouse space?
One of the best ways to define the differences between warehouse space and industrial space is to know when it is most likely to use one service over the other. For warehouse space, you will need one in this particular situation.
There are times when you need just enough office space. You may laugh at the idea of turning a warehouse into an office space but many companies have already seen the good in converting warehouse space into an office. You see, a warehouse space can be more open to creativity not just in terms of beautifying the space but when it comes to being able to work with the rest of the employees. These spaces in a warehouse stimulate the working environment and have a better impact on employee performance.
When should you opt for an industrial space?
An industrial space is a great option to use for those of you who have several types of business operations that you want to house in one building. Sometimes, a warehouse space is not large enough to accommodate your needs and when this is the case, an industrial space is the better option over the other. In an industrial space, you can put one department in one room and another department in an additional space. You can easily expand your business with an industrial space to make use of.
It will also be good to use industrial space for the purpose of renting out individual spaces to tenants. You can always allocate a space for certain tenants depending on their demands. Other tenants can rent more spaces if they want to especially if they intend to expand their business in the future.
Why lease instead of purchase the property outright?
Many business owners have seen the advantage of leasing warehouse property instead of buying them outright. The main reason for doing so is that in a lease contract, you can signify the terms of the lease or make use of the space in a short or long period of time, whichever is most advantageous to you. If you find out that the space is ideal for your business operations, you can easily renew the lease contract. If you need more space and you have purchased a warehouse instead of just lease it, the tendency is you need to purchase another property which will mean more cost on your part.
If you want to learn more about the perks of warehouse space for lease in Toronto, we encourage you to browse through our pages. Be familiar with the pros of leasing space instead of just purchasing it!