Indy Corporation Develops Co-Warehousing Model – Inside INdiana Business

(photo courtesy of RISE Commercial District)

An Indianapolis-based company continues to expand co-storage services in central Indiana with an eye on more locations. RISE Commercial District’s model, similar to coworking spaces, allows small businesses to rent up to 3,000 square feet of warehousing, office or corporate storage space. The company, which has a goal of 25 sites by 2025, recently completed construction of its Noblesville site and last month received approval for a site in Avon.

Allison Barber, director of marketing for RISE, tells Inside Indiana Business that the model allows small businesses to enter the world of warehousing without large-scale commitments.

“Many of our customers have just run their business from their garage or porch, but it gets in the way of their way of life. They don’t have a really secure way to store things,” Barber said. “If they need to receive cargo from a tractor-trailer, obviously tractor-trailers have a hard time delivering to residential areas. So that really limits the growth that their business can have.

RISE was founded in 2010 by Jim Sapp, who at the time ran a garage door business and purchased a warehouse in the Castleton area of ​​Indianapolis that was larger than needed. He says others came to him asking to rent a space for a short time, which led to the idea for RISE.

The company has been named to the IBJ’s Fast 25 list for the past two years. In 2021, RISE recorded revenue of $6.9 million, with total revenue growth of 128% from 2019 to 2021.

Since its inception, RISE has grown from one site to 13 in Indiana, Michigan, Minnesota, Ohio and Wisconsin. The company says every site that’s at least a year old is 98% busy or more, according to the IBJ.

Barber says the growth is not just for the company itself, but also for its customers.

“[The model] allows them to grow with us,” she said. “We often see clients come in with 200 to 500 square feet and build somewhere near one of our facilities, and they have 4,000 to 5,000 square feet by the time they leave us. So it’s really just a way to kind of put some training wheels on your business growth.

RISE’s expansion is set to continue as the company received its franchise license in April. Barber says the franchise model will be a collaborative effort.

“If anyone is interested in opening a RISE location for their business community, we will work hand-in-hand with them to select locations, work with zoning and cities to ensure it is built in a successful and profitable way for the franchisee, as well as for businesses that are in the community.

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