If you have only a few drill/grinder bits, one (or several) of these stands can be handy to store your collection within easy reach of your drill or work space. You can also get several stands; and keep one type of drill bit, burr, etc. in each box to find them easier. If you have a BUNCH of drills, grinder bits and tips in your collection (like me) I CANNOT keep them all on the table...instead, I take out only the ones needed for the job at hand, and put them in these stands. This way, I have them right at hand to use; and can close the top when done for the day to keep them together (ever have them roll off the table-?) and protected until needed again: very convenient