A serviced office is an office space that you can rent which is run and maintained by a management company. They are usually fully furnished so no need to be hauling desks and chairs around. You also receive a number of services as part of your rental agreement, including; reception staff, security staff, cleaning and maintenance, IT infrastructure, and parking facilities. Let’s take a look at the pros and cons of renting a serviced office as opposed to finding your own office space to rent.
Cheaper in the Short Term
If you want to get moved in quickly and get going immediately with your business, then a serviced office space will allow you to do this cheaply because everything you need is already included. Finding your own office space to rent might be cheaper in the long term but it will certainly take time and cost you money to get set up.
Short Term Contracts
With a traditional office lease, you generally have to sign a long-term contract, but this isn’t the case with a service office agreement. You can enjoy flexibility in your business, renting an office as and when you need it. You can even use it to test the waters with your business idea without entering into a long-term agreement.
Networking is a great way to give your business a boost. When you rent a serviced office space, you are usually in a building with multiple tenants, all running different businesses. This gives you a great opportunity to meet with other business leaders and gather ideas and expertise to help you grow your own brand.
Can be Expensive in the Long Run
If you are going to be in a service office for a long period of time it is going to cost you more than finding your own space to rent. There are benefits to using a serviced office when you are starting up but in the longer term, as your business grows, it is more cost-effective to find your own space and source services yourself. You also need to be wary of extra charges when you rent a serviced office. Hiring a meeting room, printing documents, and using faster broadband could all cost you more.
Lack of Branding
In business, branding is everything. It improves recognition and customer loyalty whilst also advertising to the world exactly what is that you have to offer. When you rent a serviced office, you might well miss out on the chance to show your brand to the world because landlords often do not allow displays across the interior and exterior of the building. Lack of branding can also make you look unprofessional to potential customers visiting your office.
With a serviced office you will have to share facilities with other tenants. You will likely have to share meeting rooms, parking facilities, and toilets, this means that you have to be on the ball with your organization skills. You will need to ensure, for instance, that you have booked a meeting room rather than risk turning up to find someone in there or that you have arranged somewhere for your clients to park when they come to visit you.
Serviced offices offer fantastic convenience, as many services you will need as you set-up your business are included. However, it will cost you more long-term. As your business grows, you might be better off sourcing your own office space and negotiating your own contracts for any services you require.