When I began my business in 1990, there was no information available anywhere on how to store gift basket products.
So, where would an aspiring designer put all of her inventory? The logical choice for me was in my home attic, as it’s big and easy to access.
The basement was also an option, and if I were in an apartment, I’d also consider turning one of the rooms into my workspace/storage facility.
If you are home based and store inventory within your premises, it’s wise to make sure that all of the contents are insured against theft, fire, or flood. Theft may not occur at home, but the latter two are possible.
Monday’s activities around my home brought the potential for fire too close for comfort. I talked about this on another blog Wednesday and decided to bring this situation here for your benefit.
A fire occurred in the house next to me. It was a tense time as the block was completely shut down to passersby while an army of firemen ended the ordeal.
My home was completely spared of damage, including trapped smoke in the halls and rooms. I cannot tell you how thankful I am that all worked out for me.
When the attic area acted as my storage facility, I estimated the inventory’s worth each year and adjusted my business insurance to cover the contents.
What about you? Is your valuable inventory covered by an insurance policy, or do you hope that what happened to me on Monday won’t occur in your area?
As you bring new baskets, foods, gifts, and supplies into your workspace for holiday orders, be sure to protect the contents against problems that may happen in your facility and situations that you have no control over on other people’s property.
You’ll learn more about your insurance options on this page.
What’s been your business experience with fire, theft, and flood?
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