While serviced offices may not be the first workspace to come to mind when you think about startups, they’re actually a preferred option. Startups of all kinds need a place to do business and serviced offices come with a variety of lease options and facilities ready to go.
Hence, this kind of office space is often the preferred choice for startups because they offer a range of benefits such as:
The first reason startups can get more out of a serviced office is cost. This is not only the cost of the office itself, which is often lower as it is rented from a larger company that specialises in providing office space, but because it reduces operating costs too. Running an office can quickly accrue many smaller expenses that add up over time. However, by choosing to opt for a service office, any expenses such as cleaning, utilities, security and reception are already taken care of by the company providing you with the serviced office.
- Flexibility and Security
Serviced offices can often offer much greater flexibility with leasing than if you were to directly rent an office space. Many landlords prefer long-term leases so may be reluctant to rent out space on a short-term basis which is more suited to startups.
Serviced offices have more flexibility in the terms they offer and can easily work with business startups to provide flexibility and safe leasing options. Serviced offices can even be rented on a daily or as-needed basis if required, granting them much greater flexibility than other options.
Finding a good location for a business office can be difficult as many of the best locations are already taken and many of the more affordable ones remaining do not offer the sense of professionalism and class a business needs to project.
Serviced offices allow startups to find good locations with high-quality offices in their price range, putting a city centre location within budget.
An office needs many basic services such as cleaning, administration and reception. Beyond these, however, are many additional extras that a smaller startup may not have access to but that a serviced office space can easily provide.
These extras can include things such as fully stocked canteens, phone answering service, mail handling, recreation facilities and furnishings. Different locations may offer different options, so make sure to enquire when considering renting a space.
- Risk Reduction
Serviced offices reduce or even eliminate the need to have large amounts of furnishings, equipment and other fixed asset necessities. This not only streamlines finances considerably, but it also lowers the risk and expenses that occur with changing size rapidly, as a startup business may need to do.
Whether increasing or decreasing in size, having to purchase, sell, relocate and set up furniture and equipment can use up a lot of time and money. This is especially the case with IT infrastructure, which can be both more expensive and much more work to relocate.
Serviced offices take care of all these requirements, with a business needing only to organise a quick move to a new space. And if the business does decide to finally move on to their own location, there is no complex untangling that needs to take place.
Serviced offices are the best choice for a startup, offering not only the opportunity to save money and reduce complexity during the early parts of starting a business, but also offering benefits beyond what most smaller business will otherwise be able to afford.