If you’ve got a business, you might be faced with the daunting prospect of having to find, rent, and outfit office space — all before you get up and running. And though that might seem like an unwanted prospect, there is an option available to you as a business owner that might be preferable. That is, rent a serviced office space instead of a conventional one.
A serviced work space has several advantages over traditional office spaces. Serviced offices (or “executive suites”), are already fully equipped, and are usually managed by a company that oversees these types of facilities (a.k.a. “facility management companies”). These organizations rent individual work space to other companies; these arrangements have advantages over traditional rental agreements. Let’s take a look at some of them.
Serviced offices come fully equipped
In general, serviced offices, already fully outfitted, equipped with furnishings and equipment you need. That means, you rent the equipment as well as the space, and you don’t have to go out and spend important capital you could probably use better elsewhere on furnishings and equipment. For example, Internet access, telephone lines, furniture, even kitchen space may already be included in office space you rent. Some serviced work space agreements may even include conference room access. That’s a far cry from conventional office space rentals, where you just get the rental space but will still have to provide everything else.
Rental terms are usually flexible
In general, the rental terms for serviced offices are quite a bit more flexible than that for conventional office space, so that you’re not locked into a long-term contract. That’s especially good news for startup businesses looking to rent office space in Shoreditch, for example, when you’re just starting out and need to make sure it’s going to be a success before signing these types of long-term contracts; it’s also good news if your business takes off, and you need to move to other quarters that are larger.
Flexible space allocations, too
In many cases, serviced office space comes with the ability to add to your space requirements right where you are, instead of having to move entire operations to an entirely different building if you run out of room. Similarly, if you find that you need to downsize, usually, terms are pretty flexible and you can cut back on space requirements as needed, too.
Costs are defined upfront
Unlike conventional work space, because everything is already included, you’ll know how much you’re going to pay for Internet connectivity, etc., as well as any other services provided. That’s a far cry from conventional office spaces, where you will likely have to put in your own phone lines and Internet connectivity, aren’t sure how much you will have to pay for service, will have to wind your way through various providers to find the best deal, and so on. With serviced work space, all of this is taken care of already, and you get your costs upfront so that you can budget for them appropriately. And of course, this makes your bookkeeping tasks easier, too, since you will already know what most of your monthly expenses are going to be ahead of time.
Serviced office space lets you move in, get your business up and running right away, and be in business almost immediately; all you really have to do is move in personnel and files, and you should be good to go. There’s no setting up, no logistical moving nightmares, nothing like that. With few exceptions, serviced office space means you can be up and running almost instantly.