Is Flexible Office Space More Cost-Effective?
Here at Future Squared, we are passionate about flexible office space and the many benefits it offers users over traditional leased offices. From rolling contracts on a month-by-month basis through to unrivalled networking and cooperation opportunities, flexible offices offer lots of advantages over their leased counterparts, but perhaps the biggest benefit they offer is in the way of cost.
We often get asked if flexible offices are more cost-effective, and the short answer is yes, they are. We’ve broken down exactly how flexible office spaces come up cheaper than leased working spaces so you can see where the savings are (and it’s not on the quality of the office)!
When you rent a leased office, you need to make a decision on how much space you’re prepared to pay for. Businesses never stand still and can grow or shrink in the blink of an eye – something leased offices do not accommodate for. This means as a business owner, you need to try and have a sixth sense to predict whether your company will be the same size in six months or a year.
The general consensus is that it’s better to have too much than too little, resulting in many businesses overpaying for space that could end up not being used. This is not financially friendly and could potentially lead to an unnecessary loss.
Flexible offices are just that – flexible! You have the freedom to sign monthly contracts, meaning you can scale up or scale down within weeks. This ensures you never overpay for space that you’re not using, allowing to save money until the time comes to move into something bigger.
Bills and Utilities
Renting a leased office is not too dissimilar to renting a house in the sense that you will be responsible for paying your rent and utilities separately. This entails making multiple payments and keeping track of them, all the while trying to haggle the best rates to ensure you’re not overpaying (which so many people do).
In contrast, flexible offices require one payment that is inclusive of your base rent and bills. Landlords often work with suppliers to get the best deals, as well as to continually keep costs low. Where monthly rent is concerned, Future Squared negotiates with landlords on your behalf to get the rate that offers the best value for money. This ensures you never end up paying more than you would if you were to pay rent and bills separately.
Many people believe that landlords inflate prices when bills are included, and this certainly can happen, but with the Future Squared team on your side, you can rest assured that you’ll never pay more than the space is worth, resulting in a cost-effective solution.
Furniture and Equipment
The price of office supplies is not to be underestimated. Even the most basic of office jobs requires each employee to have a computer, desk, and chair at the very least. Where multiple employees are concerned, costs can quickly start to mount up.
Flexible offices come fully furnished, meaning you do not need to set aside money to pay for equipment. Every desk has an ergonomic chair and computer readily available, and breakout areas are equipped with sofas and seating for breaks.
Combined, you could end up saving thousands, making flexible offices far more cost-effective from a set-up point of view, and this is certainly something to bear in mind for start-ups and small businesses with minimal disposable income.
Leased offices are a bit like a shell – it’s your responsibility to fill the four walls and make it work for you. This means you need to have every role filled, including mail management, call diversions, and reception duties. Flexible offices can be customised to suit you, and this includes the option of administrative staff at the reception of the building.
You will need to pay an additional fee to take advantage of such a service, but this will be comparatively lower than paying a salary for someone to carry out those duties for you through direct employment. This is just another way flexible offices are more cost-effective and offer more value for money compared to their leased counterparts.
Find a Flexible Office Space
Future Squared specialises in helping businesses find the ideal flexible office solution, no matter where you are in the country. From London to Edinburgh, Bristol to Cardiff, we work with landlords and commercial property owners across the UK to provide businesses with the best working space for their needs.
We do not charge clients to make use of our brokerage service, and we bring with us over 25 years of negotiation experience to ensure we get every client the best possible deal. If you’d like to learn more about how making the move to a flexible office space could be beneficial for you, please contact us.