Are you looking for a new office space for your business? If so, then you’ve probably considered a traditional leasehold office space. These can be ideal for some businesses; however, if you’re a startup, a freelancer, or a small business, the rent and responsibilities may be too expensive for your budget.
Along with the rent, other expenses associated with a traditional office include everything from the utilities, office furnishings, and more. Not only that, but it also takes quite a bit of time to get it all put together, delivered and set up. All of this has to happen before you can even start working from the new office.
An alternative to a traditional office space is a serviced office space. Here, you’ll find one convenient, cost-effective solution to get your business up and running faster than with a traditional office.
What is a Serviced Office?
A serviced office may be an entire building or located on one floor. The company is owned by a facility management company, which leases out office space and, in some cases, complete floors.
When it comes to services, these are all provided by the management company. This usually includes maintenance, cleaning services and amenities.
A serviced office space has no long-term contract, and you pay for each desk as needed. This is a great option, as you only pay for what you need—not more. And everything is included in the rent, so you don’t have to deal with paying separate bills for utilities and other services. In addition, a serviced office allows your business to expand—it has room to accommodate growth in your business.
Ways a Serviced Office Can Save You Money
1). Pay only for the office and space you need: with a serviced office, you’ll only pay for the space you use. There’s no need to worry about other bills or resources.
Generally, these offices include everything from bathrooms, kitchens, meeting rooms and more. You won’t be responsible for these—they’re all maintained by the management company.
You get a lot for your money with a serviced office, and it’s a more cost-effective solution for your business compared to a traditional office.
2). Fixed bills: here, we don’t mean someone will “fix” the bills for you! Instead, we’re referring to the fact that everything is included in the rent. This incorporates all utilities such as energy, water, Internet and telecom services.
Energy bills can be very unpredictable due to seasonal fluctuations. This makes it more difficult to budget them in. What will happen if the winter is colder than normal? Your business will face higher energy costs. The same can happen in the summer.
With a serviced office space, your expenses will be fixed. If a utility expense happens to increase, the serviced office provider will take on the cost, instead of you. Budgeting will be much easier with this type of office space.
3). Furnishings are provided: fitting out an office is an expensive job. There’s no way to get around it when you’ll need desks, chairs, lamps, office equipment and more. If you’re on a tight budget, this can be a challenging prospect.
On the other hand, a serviced office space provides you with all the furnishings needed for your business. This includes furniture (desks & chairs), filing cabinets, and whatever you need.
Most serviced offices will have also taken care of the office’s décor, though some facilities do allow you to have some say in the configuration of the space.
Your business will save money by choosing a serviced office—there’s no need to include furnishings and décor in the budget.
4). Staffing costs: serviced offices generally provide staff who are ready to assist with your business needs. Staff may include a receptionist and admins, who are all employed in-house. They’re trained to help with business tasks, which makes it easier for you to focus on running the business. Access to on-site staff is included in the monthly payment.
Not only can you avoid hiring and paying wages for employees, but you can rely on the staff provided by the management. One thing to note—access to on-site staff is not always included in the rent. Some facilities do charge a pay-as-you-go rate, which will mean paying more. However, it’s still a better option, as you only pay for the service you need, and you won’t have to pay wages.
5). Flexible space: choosing to rent a traditional office can limit your business when it comes to space. The size of the space you rent is the only space you’ll have. It’s not usually possible to rent additional desks or rooms to accommodate the company’s growth. And it’s expensive to move to a larger office—you’ll need to cover moving costs, buy additional furnishings and more. Moving also causes some severe downtime, which could dramatically affect the business.
However, a serviced office space offers flexible solutions when it comes to scaling your business. If your company grows, it’s easy to request additional desks or space. You’ll also avoid the downtime and costs associated with making a move.
Starting out, just rent the space you need. If the business grows, then you can easily request additional space. And if the business needs to downsize, this is also easy. Either way you only pay for the space you need.
6). No maintenance costs: when things go wrong with the plumbing, the electricity or the heating decides to quit, you won’t have to worry about paying for these. The serviced office provider covers all of these costs, so you don’t have the additional worry of covering these and other maintenance problems.
7). Networking: a serviced office makes it easy to network and find new opportunities. You’ll find business of all sizes and types in the office space. It may even be possible to find a new client, depending on the types of products and services your company offers. Serviced office spaces give your business the chance to grow in a great environment that’s set up to make networking easier.
Summing It Up
We’ve covered all the ways a serviced office can save you money. They’re a cost-effective choice when compared to a traditional office. You’ll have a fixed expense each month, with none of the ups and downs caused by changes in weather or maintenance issues. Everything is covered in the rent—and you may even make some new contacts and clients in a serviced office space.