Would this work? Or totally dumb?

I stain quite a bit of wood for my small business. The only place I have to do this is on my apartment balcony. I'm getting sick of keeping all my staining supplies inside and having to bring everything out and back in every time I have to stain, along with all the wood I'm staining.

I thought about getting an outdoor storage container thing to keep it all in on my balcony, but even the tiny ones are like $70-100+.

I tried a regular tote bucket for something else before, but rain always got in, so I need something waterproof. Then I started thinking about getting a hard cooler for like $20-30 and keep all my stuff in that (obviously, I would never use it for food or drinks since I will be keeping wood stain in it).

Do you think that will work?