Your complete guide to serviced offices
Serviced office spaces offer greater flexibility, practicality and cost effectiveness, as they tend to be furnished and avoid the need to pay for electricity and water bills. They’re also growing in popularity, especially among startup and smaller businesses, as they tend to fit in better with their budget.
Their popularity is also rising due to the increase in flexible working, where as a result, in London alone there are over 1,200 serviced office spaces.
What are serviced office spaces?
Serviced office spaces allow you to move in and start working right away, giving you the opportunity to move in as soon as possible.
They can also be more cost effective than purchasing a building as you won’t need to pay for utility bills and they tend to come furnished, meaning you won’t need to buy any furniture for the office.
Monthly costs can be worked out in two different ways, such as:
- Paying per desk/workstation
- Paying a flat rate for the office space
The pricing option you choose is likely to be decided on the size of your company. For example, it might be more cost effective to pay per desk if you only have a small number of employees. Whereas if your company has a large number of employees you may be better off choosing a flat rate.
What’s the difference between a serviced and conventional office space?
Serviced and conventional office spaces are usually run differently. For example, serviced offices can be rented for as little as a couple of days to multiple years, offering greater flexibility than a conventional office.
Fixed rent prices also tend to be offered if you choose a serviced option, helping you budget your money better. In comparison conventional leases often tie you into a long term contract for a fixed amount of time, giving you little freedom to move around.
Serviced spaces also tend to be furnished, helping you save money on buying the essentials like desks and chairs. You may however need to provide laptops or computers for your staff.
Who are serviced offices aimed at?
Even though serviced offices are popular among smaller businesses, it doesn’t mean they’re only available to them. These types of spaces are also available for:
- Global businesses – Businesses with teams all over the world can benefit from using serviced office spaces as different location hubs.
- Large businesses – Serviced spaces can help businesses avoid paying for big overheads.
- Home businesses – Serviced offices offer a great opportunity for business expansion or providing a place to hold meetings and pitches.
- For those who need a temporary workspace – If you need to increase or decrease your workforce depending on season demand, or you need to relocate, a serviced office space could be the perfect option.
What are the benefits of choosing a serviced office space?
This type of office space can benefit your company in various ways, such as decreasing financial risk through reducing or completely removing costly overheads. Other benefits include:
- Short-term lease agreements – These agreements allow you to move around flexibly if the office space no longer works for you, helping reduce the need for large commitments to one space.
- Cost effective – Serviced office spaces reduce the need to purchase furniture, WIFI and pay for electricity and water bills.
- Great location – Being in a great location can do wonders for your brand reputation, as well as encouraging staff members to come into the office more often.
- Flexibility – You can commit to a serviced office space for as little or long as you want, giving you the ultimate freedom to decide what’s best for your company.
- Networking opportunities – Being in a serviced space often means you’ll be surrounded by other businesses, giving you the opportunity to network.
What amenities are offered in a serviced office?
Serviced offices can come with a variety of amenities such as:
- Onsite staff – These can help out with maintenance, cleaning, security and answering any questions you may have.
- Up to date equipment – This can include the latest kitchenware and high-tech security software.
- Communication – Serviced offices often have staff members that communicate with you regularly through in person events or emails. The building can also improve your communications through installing high-speed WIFI.
- Catering – On site catering may be offered depending on the property.
- Efficient administration – Your agreement should cover rent and any services and facilities you use, making it easier for you to cover administration tasks.
- Leisure and fitness facilities – Some spaces offer amenities like gym and shower facilities.
- Breakout and event space – These can be offered in some properties and are a great way to promote productivity and accommodate different staff members working preferences and needs.
Networking events – Some spaces hold networking events to help those in the building meet and build new connections.