Working Space London is now Future Squared.
Searching for flexible workspaces across the UK?
Give us a call 0203 950 0797.
What Does a Flexible Office Have to Offer Your Business?
For those looking to either make the move into their first ever business office, or those looking to move into a new premises, there are a growing number of options out there. There are traditional leased offices (as there always has been), but there’s also the option to move into a flexible office space.
What is a Flexible Office?
In short, a flexible office provides more flexibility (as the name suggests) than a traditional leased office in the sense that shorter contracts are available. They are rapidly growing in popularity, especially since the onset of the Covid-19 pandemic, but what exactly can a flexible office offer your business, and are they worth it?
As mentioned, flexible offices are known for their adaptability. When you lease a traditional office, you will likely find yourself having to sign a lengthy contract. The average office lease in the UK lasts for six years, with limited options for businesses to leave their lease early should their circumstances change.
Flexible offices can run on month-to-month contracts, meaning you have the option to take out a short-term lease if you’re unsure where your business might be in the near future. The pandemic has shown just how quickly things can change, and with this in mind, having the ability to adapt is a priority for most, especially where rent money is concerned.
It can be expensive to rent out a commercial space, so if your business unexpectedly takes a hit for whatever reason, being able to respond appropriately and recuperate funds is essential. Flexible offices allow you to do this.
On the flip side, you can extend your contract if you find the property is working well for your business. When the time comes to terminate, you can simply cut ties and move out – no early exit fees or complicated paperwork when you’re on a short-term contract.
Circumstances can change in a flash, and this means you might find you need to move into a property as soon as possible. Leased properties tend to have a lot of paperwork and waiting periods tied to them, so if you’re in a hurry to move in and get started, this can be a hindrance.
Flexible offices have a much faster turnaround and you can usually move in within a matter of days, making them a solid option if your business is looking for a premises in a pinch.
Savings on Furniture
Renting an office is a big outlay at the best of times, especially when furniture is brought into it. Computers, ergonomic desk chairs and desks, kitchenettes, meeting room furniture, and breakout area furniture can all mount up the costs, making moving into an office unattainable for a lot of small businesses hoping to grow.
Flexible offices come fully furnished which is a huge bonus for those just starting out. It also means if you want to move your business to a new location, you only need to move small, personal items and not employ the services of expensive movers, especially if you’re moving into another flexible office space.
A lot of business success comes down to who you know, and this is why so much emphasis is put on networking. When you lease an office, you are typically segregated from other businesses. For established companies this might not be so bad, but for start-ups, this can lead to a sense of isolation.
Flexible offices combine multiple businesses into one building, sometimes with shared facilities like kitchens and breakout areas. This can work really well for those in the creative industry as it allows you to converse with and bounce off of other people in the area, something which can be beneficial for everyone involved.
As any business owner will tell you, a lot of time is spent on admin tasks like answering the phone and sorting mail. This can be time consuming and so is often made into its own role. Not everyone can afford to hire a personal receptionist on a salary, but the good news is, flexible offices come with the option of employing an admin service.
Most flexible offices are based in shared buildings with a central entrance and reception desk. For an additional payment each month, you can make the most of the admin services on offer by paying for the building receptionist to direct your phone calls and accept your mail and post. Whilst it will put your monthly fees up, it will still be cheaper than hiring a receptionist of your own to do the same job.
If you find you don’t need the service, or on the contrary, do need the service, you can add it in or remove it from your monthly contract terms.
The pandemic has given way to a new type of working; a hybrid approach if you will. This means many businesses are starting to give their employees the option to work from home. In the case of leased offices with higher levels of rent, this can be a waste of resource in terms of the space being empty. In flexible offices, you can negotiate different working terms, such as specific days of the week or different working times that suit your industry. This allows you to not only cater to the needs of your staff, but to save on wasted rent money, too.
Find a Flexible Office Space
There’s a lot flexible offices can offer your business. If you’d like to discuss the benefits further, simply call us on 020 3950 0797 and we’ll be more than happy to assist you in your search for the perfect office. We offer flexible office space in London, Manchester, Glasgow, Cardiff, and every other major city and town in the UK, so no matter where you are, we have a solution for you.
Contact us to learn more.