Serviced offices are becoming more popular all the time. Why? What makes this type of office such great choice? Just exactly what is a serviced office?
Serviced offices, also known as managed offices or business centers, are a type of workspace that comes ready with services and amenities for businesses of all types and sizes.
According to Savills, serviced offices have increased in popularity by 157% in 2017. The study also showed that London saw a huge increase of 141%, while regional markets saw demand for serviced offices increase by about 406%.
Why are managed offices so popular? In order to better understand they’re growing popularity, let’s take a look at what a serviced office is.
What is a Serviced Office?
A serviced office is a business solution that offers more flexibility when compared to a traditional office space. Managed offices can accommodate any size of business—from small to large, and work for businesses in almost any industry.
The office space is usually not branded, so you can expect to move into a modern, professional workspace. Some of these facilities will even let you decorate and brand your office space, but this does vary.
Many business centers are found in central locations, sometimes in areas with exclusive addresses. This can make a huge impression on clients and partners.
The spaces are flexible when it comes to scaling your business. If you need room to grow, most facilities will be able to accommodate the growth. On the other hand, if you need to downsize, that’s also possible. You’ll also find that serviced offices can also offer temporary accommodation only when you need or want it.
What are the Benefits of a Serviced Office Space?
We’ve already covered a few, but let’s review some additional benefits you can find with a managed office:
Did we cover flexibility? We did cover some, but a managed office may also include:
- Meeting rooms: only pay when you need to use one.
- Reception team: who take calls, direct clients/partners to your office, etc.
- In-office maintenance (cleaning staff): they’ll keep your office space cleaned and tidy for you.
- Flexible lease agreements: you can find facilities that offer pay-as-you go, monthly payments, etc.
Furnishings will be supplied: in other words, you don’t have to worry about office furniture, the cables for utilities, office equipment, etc. These are usually supplied by the business center.
Access all facilities you need to run the business: as mentioned earlier, many serviced offices include a reception desk and more. All serviced offices include a high-speed Internet connection, with excellent security. You may find facilities that offer a kitchen, lunch/break areas, networking spaces, an in-house gym and showers and more. All of these amenities are usually included in the rent.
Moving in is easy and fast: most business centers will take care of the setup when it comes to office furniture, installing wiring/cables for utilities, etc. All you need to do is bring the equipment you need to run the business, including computers, etc. Everything else will be provided. You can move and get to work faster, saving both time and money in the process.
Serviced office perks: here are the perks you may find provide by a serviced office:
- Free tea and coffee, or at least the facilities to make your own
- Fully stocked kitchens
- Games: may include pool tables, table tennis, and table football
- Breakout spaces: so employees can gather together in casual groups, rather than using a traditional meeting room.
- Modern office spaces with comfortable, unique furnishings
The Cost of a Serviced Office
The lease terms will vary, but many charge a monthly fee per desk, on a pay-as-you-go term. The amount of rent you’re charge will also depend on these variances:
- Services and facilities you too choose for your business
- The size and quality of the space
- The city or town where the facility is located
- If the serviced is located in an expensive part of town or not
Prices will vary from facility to facility, so it pays to do your research before settling on the right workplace for your business.
Watch Out for Hidden Fees
You may find a managed office that appears to be the right place for your company; however, it pays to do your homework. Before signing the lease, you’ll want to ask about extra costs. These are not always explicitly explained. Watch out for these hidden fees:
Setup costs: can include anything from setting up your phone and Internet connections or maybe an administrative fee.
Cleaning fees: not all facilities include cleaning in the rent you pay. In addition, some managed offices charge a cleaning fee before you even move in. It’s also a good idea to see if there are any weekly fees involved with the cleaning, as well as breakage fees, end-of-occupancy fees, etc. And ask how often your office will be cleaned.
Internet usage: check to see if there’s any cap on the use of WiFi. Also ask if there’s a monthly fee if this ca is exceeded.
Postage and mail: some facilities include these services in your rent; however, it’s best to ask if there’s any charge to send mail or receive mail.
Access to meeting rooms or conference facilities: be sure to ask about these, too, especially if you plan on having regular team meetings, a conference, etc. Be sure about exactly what you’re to pay for and how much it will cost.
Refreshments: some serviced offices include refreshments for free, but others will charge.
Parking: is parking included in the price, or is it extra? And then you’ll need to ask if they have enough spaces to accommodate your team and any guests you may have. Be sure to ask if it’s possible to buy extra spaces when you need them, too.
Power and electricity: these are generally included in the rent, but it’s always good to ask in advance, so you’ll know exactly what you’re paying for.
Serviced offices can provide your business with many benefits. They’re often a better choice over a traditional office and can be save money while providing a modern office workspace for you and your team.