What is a Serviced Office?

A detailed article asking "What is a Serviced Office?"

As a business owner, you have three main choices nowadays if you’re looking to get physical office space. You could purchase your own conventional office, you could get a shared office space, or you could get a serviced office. Serviced offices are proving an increasingly popular choice for all types of business, and it may be a good choice for you to consider as well.

What exactly is a Serviced Office?

A serviced office is a working space that comes fully fitted with everything you need to get to work. You typically pay a fixed deposit amount and then rent it for a certain period of time. The rental periods you get are relatively short and the spaces come in a variety of different sizes to suit all sorts of company. Instead of the rent being based on a typical “per square foot basis”, you actually pay per workstation. Nowadays, there are serviced offices available in all major cities and a number of other cities and towns across the UK.

What features do services offices have?

All serviced offices are different, but as standard, they usually include the following features;

– Workstations
– Conference rooms
– Kitchens
– Bathrooms
– Lounge areas

Some serviced offices are larger or smaller than others and are suited to certain types of businesses. Other features you could typically find include;

– A reception area
– Car park
– Fully-fitted office furniture
– Complimentary broadband
– Video conferencing facilities

The benefits of getting a serviced office?

Compared to other office solutions, serviced offices offer a number of different benefits, such as;

– The deposit amounts are typically quite low, meaning they’re great if your company is strapped for immediate cash.
– They offer a lot of flexibility in the way of short-term rentals, meaning you aren’t tied down to a long-term contract.
– They are quick to sign off on and move into, which is great if your company is rapidly expanding.
– They often come fully fitted with everything you need, saving you a lot of time and money in sourcing and investing in all your furniture.
– With the addition of conference rooms, car parking and reception area, they offer an affordable way to give a grand impression of your growing company for visitors and investors.
– Serviced offices are often located in high-demand, popular working areas making them well-located for commuters and for accessing surrounding businesses.

Is a serviced office right for your company?

Not all businesses would benefit from serviced offices, but they certainly are a great solution for many. For example, if you desperately need a physical site, but don’t have the high upfront costs to invest in your own office as well as all the necessary fittings and furniture. Also, they’re great if your company is in the process of high growth, or of making cutbacks. You can quickly upsize or downsize without needing to first sell a property before buying another.

Finally, the only other affordable option is a shared office, which is not ideal if you want to maintain your individuality and brand identity, which can be dampened if you need to share the space with another noisy company. Really, you need to look at your situation and where you see yourself in three to six months time. If your current financial situation isn’t properly secure and your future isn’t exactly stable as of yet, then this may be a good route to follow.

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