Serviced office spaces have transformed the landscape of office space use. It has overcome the limitations of traditional offices and delivered a more beneficial model in the form of a flexible workspace. Whether your business is trying to scale up or you want to maintain flexibility in your operational model, this type of workspace has the solution you need.
What is a Serviced Office?
The serviced office meaning has gotten many people confused, especially those who are new to this setup. Serviced offices are more commonly known as the flexible office space, or different names including managed offices, or executive offices. However, they all refer to one thing: a fully-furnished and equipped office space that is managed by an operator for business use on a flexible lease term.
Businesses can rent a single office space or an entire floor, depending on the business needs. Once rented, business organisations can have access to private and office-ready spaces just like when you fitted out your own office (but minus the cost).
Flexible Workspace Advantages
Dive deeper into the flexible workspace benefits so you can understand the value of making the switch. Whether you are scaling up your business or you want to look for ways to save on operational costs, these serviced office benefits will give you something to think about.
1. Access to Ready Facilities
One of the primary serviced office advantages that you can enjoy is the ability to access facilities that are fully equipped. Any business organization will tell you that there is a great deal of cost involved in making a space ready for business use. From setting up the technological infrastructure to adding furniture, the costs can add up real fast.
When you choose serviced office facilities, you do not have to worry about any of that. The space is fully equipped with furniture, technological infrastructures such as phone lines and an internet connection, meeting rooms, reception areas, and more. Your business will no longer be burdened with the need to set the office up yourself to ensure that it has all the modern resources you need to function and operate.
This can help to ramp up your productivity level since you can focus solely on handling the core aspect of your business. There is no need to worry about cleaning and maintenance work, too!
2. Flexible, Short-Term Leases
Another one of the flexible workspace advantages is the ability to lease the space for as long or as short as you want. Businesses that have used this kind of office space have cited this as one of the primary benefits of trying out this setup. Dealing with a long-term lease is one of the major hassles of choosing and fitting out an office space. Given the cost of setting up the facility, many businesses opt for a long-term lease (anywhere from 5 to 10 years). Due to the fact that you are tied to a long-term commitment, it does not provide enough room to grow or shrink as a business.
With flex space, it provides the flexibility your business needs, especially for startups or small businesses that are still figuring out how much business space they need. Instead of a long-term contract, you can opt for a monthly agreement. You can pay on a monthly basis and make adjustments according to what spaces you need for a given period of time.
It truly is as flexible as needed! You are, therefore, free to scale up or down even on short notice.
3. Affordable Cost
For startups or growing businesses, the potential savings offered by a flexible office space is where the real appeal lies. The cost of acquiring technological equipment and infrastructure could put a serious dent on your budget. On top of that, you must shoulder the cost of maintenance and updating infrastructure to ensure that they are of the latest version. All of these factors can significantly impact your bottom line or budget.
With the access to furnished facilities and a flexible lease, it eases up your budgeting woes. You can scale up or down on a need basis. There is less pressure on your business on the financial aspect and you can focus on growing your business.
4. Flexible Location
Setting up an office in a prestigious location or within the business center can be expensive. The cost of rental for business units in these locations is through the roof. This is yet another advantage that is offered by a flexible workspace. You can get a prestigious business address at a fraction of the cost of renting your own business space!
Another advantage of having a flexible location is that you can test out new markets. You will be able to build a base in desirable locations that enable your business to partake in a competitive market. In fact, it is a great opportunity to build your base at various locations (such as in major cities across the globe).
5. No Downtime
Moving into a new office location will require a lot of downtime on your end. From getting the space ready for move in, to equipping it with the technological infrastructure you need to perform work, it can easily eat up a few days or weeks (depending on the size of the office space or organizational needs).
With a flexible space such as serviced offices, you do not waste any time doing any of this work! Since the space is already fully equipped, all you have to do is move in. Your employees can get to work right away and you will have zero disruptions to your work schedule.
6. Suited for All Types of Businesses
On top of the benefits in terms of serviced office costs, the flexibility of this space does not end there. It is also flexible in terms of who uses it. Those who can benefit from the use of flexible workspaces can run the gamut – from startups to expanding businesses and those who are project-based teams. Businesses experiencing growth and are adding new people into their team can take advantage of it as an interim space.
There is no limit as to how or who can benefit from the use of this space. It is as flexible as your needs can be. Flexible office space providers can even be adaptable to offer services and facilities that are consistent with a company’s business goals. These solutions are wide ranging to include business-ready office spaces and those that can be customised to suit the company’s unique business needs.