Taking on new premises can be expensive. When renting a traditional office space, you are unable to pay on a month-by-month basis, and execute a break in that agreement if your business needs dictate – and you will usually be bound to a fixed term of 3-5 years.
In addition to this you will normally be required to purchase/hire (via further contracts for fixed periods) all of the necessary communications systems, furnishings, fit out and decorations of the interior space to establish your brand in the area.
Serviced offices are usually overlooked due to the monthly rental fees being a little higher, however, you must always look at the overall picture before passing on these options. A serviced office offering is essentially a pay-as-you-use space, and have plenty of benefits that make them a very wise investment.
Flexible short term lease agreements
At Matthew Blair Solutions we have seen most businesses that rent serviced offices are looking to benefit from the short-term lease agreements. Operators rent out serviced offices on fixed term short term agreements or on a rolling basis, meaning that you pay at the end of each month for the facilities that you’ve used
Because of the small contract lengths, rental prices are often more expensive; however, the contracts will often include services and facilities, and provide businesses more freedom and flexibility.
With these agreements you’ll only ever pay for what you need, when you need it. In addition to your office space, services and facilities such as copiers, couriers, meeting rooms and even administrational support staff are available as and when required. For example, if you need a meeting for an important contract/client and need to hire a conference room (or video conferencing equipment), you’ll be able to pay to use on a per-hour basis.
Split testing is a great marketing method and give you the results that will be most beneficial for your business. Serviced offices allow you to test multiple markets in different locations without the high cost long-term investment.
So if you are expanding and unsure which cities to target, then the option to test more than one location with minimal risk is available, and base your final decision on factual results.
‘Plug and Play’ Infrastructure
When moving to new premises, the operational downtime can be significant on the flow of business. Serviced offices are set up and ready-to-use or ‘Plug and play’, often to move in the next day. All communications systems and office equipment will be operational from the second you enter the office, meaning you will experience zero downtime waiting for phone and Internet companies to install your communication systems and infrastructure.
High-quality equipment and experienced staff
Serviced office operators strive to maintain experienced staff and modern technology and will ensure that all services and facilities are of the highest quality, the levels can vary and correlated to the leasing agreement costs.
Purchasing/renting equipment or hiring full-time staff requires large overhead costs. Serviced Office allow you to hire equipment or staff on a short term basis.
Maintaining an office costs both time and money, and can be seen as an unnecessary expense. Research shows the average cost for maintenance is roughly £14 per square metre. Serviced office agreements include this in the rental fee, allowing you to save time and money hiring cleaners and engineers to maintain the office space.
Before deciding to opt for a traditional office space and paying the landlords deposit, make sure you have weighed up the pros and cons of committing your business to a long-term agreement. You may find that a serviced office works out cheaper when you consider all of the overheads.
For Free of Charge advice working through these pros and Cons please contact us at Matthew Blair Solutions and we will arrange to call you to discuss all options – firstname.lastname@example.org