So what are the advantages and should you use a Serviced Office as opposed to the more traditional leased Office Space?
Serviced Office Space; also known as a Meeting Place or Executive Office is generally an office space for rent in a Business Centre.
There is always a great economy in scale; this ethos is what makes a Serviced Office such a viable option for any business wishing to have a prestigious city centre or business district address at affordable cost. A large Facilities Management Company will buy an Office Building, generally in a City Centre or Central Business District (CBD). The management company will then fit out the office space and divide the available space into a variety of Office Unit sizes which they then rent out as Serviced Office Space.
The advantages are of this form of Office Space are;
Instant start up.
You can take a flexible or short term lease which means, especially for a new business start-up, that the risk in those precarious early days can be reduced.
A Serviced Office is supplied fully equipped with; desks, chairs and all the Office furniture required.
Phone lines and internet are generally supplied in a serviced office suite so that you may simply plug in your computers, phones etc and be operational from day one.
Option to upgrade to a bigger space should the business expand without the usual logistical nightmare that implies, simply unplug your computers, move to the new Serviced Office Space and plug in your equipment.
Weigh this against the disadvantages of the traditional office model where you would:
Sign a long lease where you may be tied in for a number of years.
Be required to fit-out the office with desks, workstations and possibly even redecorate.
You would be required to source and install phone lines and internet connections.
Greatly increased risk factor for both new and established business models who will be liable for lease amounts for the Office should the business fail.
Upgrading or downsizing would be a logistical nightmare and you may be forced to wait until your current lease expires and you find someone to take over your existing lease. This requires a lot of both your time and staff time, expense, luck and not inconsiderable planning to be done at same time to extract your business from one lease and enter into another for an Office that fits your requirements and is available.
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