Yesterday, we gave you 5 Tips For Beating The Heat during these summer months when the temperatures swelter. But heat and humidity aren’t your only foes as a professional storage auction hunter and reseller!
A report released this week from the Small Business Majority and the American Sustainable Business Council makes the case that small businesses in the United States are “uniquely vulnerable to damage from extreme weather events,” and that the collective impact of widespread disaster recovery and business disruption can severely impact the economy.
“In recent years, the financial repercussions of weather variability and extremes have significantly impacted the U.S. economy by affecting both supply and demand for the products and services of almost every industry. For small businesses, the imperative for action is particularly acute,” said Lea Reynolds, a senior policy analyst for the environmental consulting firm M.J. Bradley and Associates and author of the report.
When disasters strike self-storage facilities, there is an impact on business operation, services to the community and renters’ personal property. Combined with the impact and disruption to other businesses over a wide geographic area, the financial fallout can be staggering. According to the National Oceanic and Atmospheric Administration, 2011 and 2012 set a record for extreme-weather events, causing more than $170 billion in damages. Hurricane Sandy alone had an economic impact of $65 billion, hitting an estimated 60,000 to 100,000 small businesses, of which up to 30 percent failed to recover, according to the report.
Extreme weather can vary depending on your geographical location, but can include flooding, hail storms, tornados, hurricanes, ice storms, and wild fires. As an auction reseller, you fit the bill as a small business owner.
Not only will your auction hunting be dampered by extreme weather and difficulties involved such as traveling to and from the auctions, selling items, and complete cancellations, but you may also rent storage or warehouse space yourself to house the merchandise you buy at auctions. What happens if that space is damaged, merchandise lost, and your lively hood is on the line?
Have a disaster recovery plan. This plan should be as in depth as possible and provide you with a framework to recover. It is also important to have insurance, and understand insurance trends and coverage and the best way to manage risk and mitigate losses.
StorageUnitActionList.com, a member of the Self Storage Association, provides our customers with a comprehensive auction list in multiple auction formats for all 50 states and over 51,000 facilities. Subscribers can review over 10,000 auctions each month through their personal dashboard making storage auctions easy to find whether you’re treasure hunting for fun or running a profitable business.