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Lock+Store Offers Budget Relief For Entrepreneurs

In News flash, SME Exchange on February 25, 2015 by Lock+Store Tagged: , , , ,

From Push-Cart To E-Commerce, Two Women Entrepreneurs Leverage Self-Storage For Business Success
– Lock+Store introduces SME budget relief of 50 per cent off selected self-storage units for new storers

As retail rents rise, more small retail businesses are going online and leveraging self-storage solutions to reduce their operating costs. Ms Ong Kai Ling is one example. She launched Steward’s Little, a children’s clothing business, on 7 December 2013 at a 3m-by-3m kiosk in a popular suburban mall. She also rented a self-storage unit at Lock+Store Serangoon North to store her inventory due to limited space in the kiosk. Although her daily takings are strong during festive periods, she could hardly make enough to cover her high monthly rent during the off-peak season. This spurred her to set up an online shopfront for her business in 2014 with the aim of giving up the kiosk.

Ms Ong said: “The high rents in suburban malls have forced many small retail shop owners to either give up their business or go online. I decided to start an online shopfront in the hope of giving up my kiosk once the online business has stabilised. In future, I will despatch the inventory to my clients directly from my storage unit at Lock+Store Serangoon North. It helps that they sell stamps and SmartPac products onsite, and provide a bulk parcel drop-off service.”

Steward's Little at Nex

Steward’s Little at Nex

Ms Helen Ng, Chief Executive Officer of Lock+Store, said: “Lock+Store constantly pushes the envelope to meet customer needs in a fresh, innovative way. To help SMEs stay competitive in the face of the challenging business climate, we introduced an SME budget relief. This SME budget relief will help new storers tapping on e-Commerce better manage their operating costs.”

A survey conducted in 2013 showed that 40 per cent of Lock+Store’s current storers are business storers. Among them, 12 per cent are blogshop owners or companies having an online retail presence. She added: “The number of e-Commerce storers has increased by about 10 per cent in 2014. Interestingly, the rise of e-Commerce in Singapore has sparked a demand for flexible self-storage solutions and ancillary onsite services that support the fulfilment of customer orders, such as the sale of stamps and SmartPac products, and onsite bulk parcel drop-off.”

Another customer riding on e-Commerce wave, Ms Christina Ng, founder of the board game company Starting Player, also leverages self-storage solutions to manage her operating costs. In 2011, Christina decided to quit her full-time job as an accountant and designed a board game that would combine her husband’s flair for Chinese history and her thirst for intellectual stimulation. She rented a 121 sqft unit at Lock+Store Tanjong Pagar to store more than 2,000 sets of the board game.

Christina Ng from Starting Player

Christina Ng from Starting Player

She said: “To reduce our operating costs, we decided to store our board games at Lock+Store Tanjong Pagar – the only self-storage facility located at the CBD fringe. Lock+Store offers a significant discount on the monthly rental rate for prepayments. That helps to reduce the monthly operating cost for a small business like ours. Lock+Store also gives us the flexibility of adjusting our storage unit size according to business demand. This helps reduce the anxiety of being ‘locked’ into a long-term storage period.”

To give small businesses a leg-up, Lock+Store will introduce a SME budget relief of 50 per cent off selected self-storage units for new storers who store between three months and one year. More information can be obtained at http://www.lockandstore.com and from the customer service staff at each of Lock+Store’s four facilities.

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