Offices to rent have varied sizes and costs, depending on their area. When looking for a new office space for your business, you might be tempted to rent your own space. However, small businesses that are just starting to grow and expand may not be able to afford the costs of setting up a new workspace.
Setting up shop in a serviced office offers many benefits, including slashing the initial cost of setting up your business. We look at why serviced spaces are often the most efficient offices to rent, and how you can make valuable savings.
Facilities are included in the space and price
The Chartered Institute of Purchasing and Supply revealed average savings of up to 50% for companies moving into a serviced office, as bills are all taken care of in the rent cost. Some offices can even offer extras such as stocked kitchens for businesses to make advantage of.
Many serviced offices come with fixtures and key office equipment already included in the price. Printers, catering areas and large office items, like desks and chairs, all cut into the initial spend for your business. Additionally, because serviced offices have a large number of people working within the same building, fast and reliable internet is essential – something else that is usually included in the price. This both saves you from finding the right provider and ensures your business stays online and efficient.
Providers can offer different additional benefits for your business, which will also be included in the rent price. For example, i2 Office provide offices to rent that have dedicated receptionists, which can save on staff costs, as well as access to boardrooms and meetings rooms should you need them. Similarly, Landmark PLC include 24 hour security services in their office rental packages.
Freedom to move around to different offices
As a business grows and develops, the location of where the office should be can also change depending on the business needs. Most serviced office providers have offices around the country, meaning you can remain with the same company but try different offices to suit your needs. You may even be able to relocate your business to a serviced office space within the same city, for example if transport links are better there, or if the area is more convenient for your business and your clients.
You may even wish to move to another floor in the building, if you need more space for your business, which your serviced office provider will be able to arrange for you. For instance, if you are in the process of expanding your business, then you can easily rent more space for new hires to work alongside your team. Similarly, if you’re looking to scale down your business, then you have the opportunity to easily reduce the office space you’re renting without too much hassle.
The option for having a short-term contract means you’re able to trial different offices before settling on one you’re comfortable working in for a longer period of time.
You could be working in your new office within 24 hours
Leasing your own office space takes time to set up — you need to move all the equipment into the new office and get settled in, which will cost you both time and money. However, serviced offices are ready for you to move in and start trading as soon as possible. Most serviced office providers can have your workspace up and running for you to move in in as little as 24 hours, or as and when you need it. General housekeeping and cleaning is also included in the rent price for your serviced office space, meaning you don’t need to set aside any time in your busy work schedule.
Using a serviced office can be much more cost effective, and leaves you with more time to dedicate on growing and expanding your business. However, the space you rent is not yours, so you won’t be able to make any significant changes to the decor or have your business branding across equipment or on the walls, or even outside the building. Facilities offered in the office space may also be used by other companies and businesses on the same floor as you, meaning they may not be available when you need them.