How Serviced Offices Can Save You Money
Office space is expensive - especially if you're renting in a prime location such as London, Edinburgh, or Leeds. Small businesses, start-ups, and even larger companies may struggle to cover the price of rent, furnishing, utilities, and maintenance in a traditional office lease.
Fortunately, there's a great alternative that allows your business to enjoy all the benefits of your own private office space with a flexible and budget-friendly lease. This alternative is a serviced office.
In this blog post, we'll look at 9 cost saving benefits of choosing a serviced office space. But first, what exactly are serviced offices, and who can rent them?
What are serviced offices?
Serviced offices are ready-to-use workspaces that already are fully furnished and equipped with everything you need for your business. These are often located in a business centre and offer private offices as well as access to communal meeting rooms, kitchens, breakout areas, toilets, and other facilities.
With a serviced office, there's none of the hassle of running a traditional office. All furniture, equipment, utilities, and maintenance is covered by the provider, making this a cost-effective office solution.
What's the difference between serviced offices and other flexible workspaces?
Serviced offices are sometimes confused with managed offices, but there are some key differences between the two. Managed offices also come with the convenience of utilities, maintenance, and other services included in the monthly fee. However, instead of being fully-furnished and ready to move in like serviced offices, managed offices are a 'blank canvas' where a business can specify the exact furniture, layout, and design they want and the provider will customise it for them. This means that managed offices are more expensive and require a longer set-up time before you can move in.
There are also some similarities between serviced offices and coworking offices. Like coworking spaces, serviced offices have some shared areas such as meeting rooms or breakout spaces, and may be priced by the desk. Also like coworking, there may be opportunities to meet and network with the other businesses that rent the nearby spaces. However, serviced offices are distinct from coworking offices because you have access to a private office for your business.
Who uses serviced offices?
Serviced offices are an increasingly popular option for a wide range of companies, from small businesses with just a few employees to larger companies who need a bigger office space.
Serviced offices are especially suited for new startups and small businesses who need access to office facilities but don't have the budget for a traditional private office lease and can't afford the costs of buying all the necessary office equipment.
They also have the benefit of being extremely flexible, which makes them a great option for rapidly growing or changing businesses. Unlike a traditional lease where you may have to rent an office for multiple years, serviced offices offer shorter rental periods and are far more flexible, allowing your team to update the contract and move to larger or smaller office spaces as needed.
And, finally, they're the perfect option for any business that wants to focus on boosting performance and achieving strategic goals without getting bogged down in day-to-day office admin and maintenance. With administrative support staff and maintenance included in the cost of renting the office, the team is freed up to focus on the important work.
Now, let's discuss some of the cost-saving benefits of serviced office spaces.
1. No need to provide furniture
Serviced office spaces are already fully equipped with all the furniture you need: desks, chairs, sofas, tables, lamps, filing cabinets, and more. With all these essential items already supplied in the fully furnished workspace, there's no need for your organisation to take on the cost of new furniture. Plus, meeting rooms will already be stocked with everything you need.
2. Utilities and Wi-Fi are included in the cost of rent
Desks and chairs are useful, but your business can't do much without high-speed Wi-Fi and IT facilities. Fortunately, super-fast internet and all other utilities are also included when you rent a serviced office. Moreover, another benefit of these offices is that utility bills are paid at a fixed rate. This means you never end up spending more money than expected on expensive bills.
3. Serviced office staff provide support
The managed reception staff and administrative staff can help you with your day-to-day tasks such as booking meeting rooms, greeting clients, or even secretarial or mail handling duties. This saves time and money for your business, meaning that you don't have to hire an employee to cover these duties, as you would have to in a traditionally leased private office.
4. Zero maintenance costs
Say goodbye to unexpected maintenance costs. All your plumbing, air conditioning servicing, and replacing items like lights will be handled for you by the office space provider. Furthermore, it's their responsibility to get any such problems fixed quickly and efficiently for the convenience of their clients.
5. Only rent the office space you need
Another benefit of serviced offices is that you only need to rent the amount of office space your company needs. With most business centres and office providers offering a range of different sized office spaces, you can rent a workspace that is the perfect size for your business.
6. Flexible leases and options
The flexible nature of serviced offices means that you'll never have to worry about outgrowing your space. Serviced office providers can often upgrade your lease and provide a larger space in the business centre as your team grows and grows. Likewise, if your hybrid working staff start working from home more frequently and you want to downsize, this can also be easily accommodated by a serviced office space provider.
7. Quick and easy move-in
With serviced offices, there's no need to waste money renting a temporary workspace while you wait for your office to be ready. Because these offices are already kitted out with standard equipment and design, they're ready for move-in almost immediately.
8. Quick and easy move-out
When you're choosing a new office space, moving out of it again may not be something you think much about. However, it's an important thing to consider. At the end of a rental period in a traditionally leased office space, you may have to pay a lot of money to get the office back to its original appearance and condition. In contrast, serviced offices do not require this - you'll never be caught out by these costs when moving out of a serviced office space.
9. Zero agent fees with Future Squared
Another of the costs associated with moving offices is the fees for the agent that helps you negotiate your lease. However, this is an entirely unnecessary cost: Future Squared will help you find your dream office, arrange office viewings, and negotiate a great deal for your company, all for free. By saving you time and money, we can make your office move completely effortless.
Interested in using Future Squared to find your ideal serviced office? Use our office finder tool to find the perfect office space in a great location. We have access to great serviced offices in a wide range of locations including amazing London locations around Old Street, Liverpool Street, Covent Garden, Canary Wharf, and London Bridge. Beyond the capital, we also can match you with your perfect office space in Manchester, Edinburgh, Birmingham, Bristol, Leeds, and thousands of other prime locations around the UK.
Want more information? Get in touch today to find out more about our free office brokerage service.