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Entries Tagged as 'Executive Suites'

Tips and Caveats to be Aware of When Selecting a Serviced Office (Executive Suite)

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Selecting a serviced office is an important step in ensuring the success of your business. The reason for this nomenclature is that the office comes with all of the most common services already in place. This type of office is often called a "turn-key" office or an executive suite.

If you need a venue to hold meetings with clients, sign contracts, negotiate, and do some paperwork, this office solution might be just what you should lease. By renting this type of business space, you'll have a furnished private office with computer equipment but share common needs such as reception area, meeting room(s), and other resources used by the entire group housed in the overall space. You'll be able to use certain equipment and services on a “pay per use” basis.

Here are tips and caveats you should be aware of when selecting a serviced office for your business needs:

  • Location: Choose a location which is convenient for you, but also convenient for your clients. Is there parking available either on-site or nearby? What about handicapped parking? Is the building easy to spot or well-known? You want your clients to be able to find you easily and get to your door without walking blocks in the wind, rain, heat, or cold.
  • Appearance: Does the building entrance, lobby, and office interior make the statement about you and your business that you want and need? You need furnishings which are attractive and elegant yet not pretentious. Making the right statement about your operation is critical. Is the meeting room comfortable enough for a two- or three-hour meeting if those are occasionally part of your business lifestyle.
  • Equipment: Learn what equipment is provided in the turnkey office lease. You will likely find a desktop computer included, but check to make certain it is powerful enough to meet your needs. Learn what the restrictions are regarding bringing in your own laptop or other equipment if needed. Realize that equipment you own may not be covered by the insurance covering other equipment, so keep this in mind and learn if the services provided by any specialized equipment are available nearby for a fee. Also, learn what speed internet connection is provided and ensure the speed meets your needs. If wifi is important to you, find out if it is in place.
  • Receptionist: Listen to the receptionist answer a phone call or call in yourself to see how the phone is service. Your messages will be taken by this staff person and your clients will have contact with him or her, so you want to ensure the job is done well.
  • Pay Per Use: Speaking of fees, you want to make sure exactly what the fees are for every pay-as-you-go service. These services will almost certainly include use of the copier and fax machine but may include other services such as large paper printers, binders, or other less common equipment. Ascertain that the costs are reasonable. Compare prices with nearby providers for services you use in massive quantities; it may well be less expensive to have the local Kinko's or similar store produce large copying jobs. Ensure you don't get "nickeled and dimed."
  • Lease Provisions: Carefully read all the provisions in the rental agreement. Unlike renting vacant office space which you staff, there will be extensive details about what your private area will contain and what can or can't be done with it, who must maintain what items, and other matters which deserve your attention.
  • Provider: Find a reputable executive office suite provider to help you locate the perfect serviced office. See our post on selecting a provider. You can find great brokers online, Like OfficeFinder.com, who have sound knowledge of this type of office and are waiting to help you.

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Regus 2010 Earnings Down 67%; Stock Price Up 15.6%

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Regus (RGU.L), the world's largest provider of executive suites and flexible workspaces, announces today its 2010 annual result. 

EBIT was down by 67% from 2009. Their cash position is still strong at £191.5m (USD $117.7m) down from 2009 levels of £237.0m. A dividend increase of 8% was also announced. Despite the lowered earnings, they were within the range of analysts expectations. Regus's stock price was up 15.6% on this news as of 11:17AM EDT.

Mark Dixon, Chairman of Regus stated "In the year to 31 December 2010, we added 20,122 workstations an increase of 13% on 2009 for a total investment of £69.7 million. Approximately half of this growth came from acquisitions in markets such as Brazil, China, UK and USA.  We will continue to explore such opportunities as we look to strengthen our market position and deliver on our strategy."

"In terms of outlook we remain cautious on the economy, however we have been encouraged by recent positive trends that reflect the continued strategic delivery of our initiatives. In 2011 we are well positioned for a year of solid revenue growth and business improvement with continuing strong underlying cash flow generation."

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85% of Businesses in US Offer Employees Flexible Working

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DALLAS, March 14, 2011 /PRNewswire/ -- "85 percent of U.S. companies now offer their staff some form of flexible working, according to a new global research report from Regus, global leader in flexible workplace solutions.  The majority of those same companies are finding that flexible working is bringing them significant benefits, including reduced overhead expenses, improved staff productivity and work-life balance. Additionally, 62 percent of U.S. businesses believe flexible working costs less than fixed office working."

"75 percent of businesses offering flexible working assert their staff has significantly better work-life balance, improving satisfaction and motivation."

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Selecting an Executive Office Suite Provider

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Your clients obtain their initial view of your company upon entering your office and first impressions are critical to how you and your organization are viewed. As they say, you only get one chance at a first impression. In order to ensure that clients and high profile visitors get the right impression, you will need to make sure you take the proper precautions when selecting your office location.

First of all, what exactly is an executive office suite? The term refers to an alternative office space in which you use part of a larger office suite either full time or part-time to meet with clients, host meetings, conduct negotiations, and finalize deals. They are also known as Serviced Offices. Several organizations will be housed in the same suite, each having designated offices but sharing meeting and common areas as well as support staff on a pay as you go basis. Typically they are “Turnkey” including furniture, phones and office equipment and Internet.  All you have to do is turn the key and get to work.

You want to select an executive office suite provider that will be right for your business. A place where you can feel comfortable and productive, but which also makes a clear statement about you and your successful business. Here are a few suggestions on how you can make sure you make the best decision.

  • The first consideration most prospective executive suite tenants consider is location related to where you want or need to do business.  Make sure that there is good access and parking is available as needed.
  • Make sure and take some time to research providers online as well as locally before choosing. Check with the Better Business Bureau to learn of any documented complaints. Ask for some references. A reputable suite provider will be glad to provide you with all the information needed to contact references. Ask plenty questions about the references experiences with the suite provider and inquire both positive and negative experiences they've had in the past.No matter how successful your business, budget is important. A reputable office suite provider will help you the best possible suite at a competitive price for your area. Explain to the office suite provider exactly how you plan to use the space so that practical suites can be selected for viewing. Make sure you understand what else you may be charged for and how much it will cost. Examples are faxing, copy machine use and the like. Some providers will charge low start up costs and then charge you for everything under the sun. Also, if you need any additional services the provider does not provide, they will likely be able to identify nearby service providers for many of those services.
  • Talk with the other executive office suite residents who will share your space. Your provider should facilitate introductions and provide a bit of information about their operations. Also, see how the receptionist answers the phone and greets clients. They will be taking calls and greeting your clients, too.
  • Try out the Internet. Make sure the connection is fast enough for your needs by sitting down at a computer and taking a test drive. Visit a speed test site to make sure you know what you are getting.  Just because it is a T1 line, doesn’t mean it is fast.
  • Check out the office(s) you will be renting. Does it need a fresh coat of paint? Is the carpet good? Now is the time to make sure these things get done, before you sign the agreement.
  • Finally, read all of the space agreement or lease and any amendments involved.  If it is not in writing it is not enforceable. Verbal promises don’t count. Remember, everything is negotiable. If you do not like it, try to negotiate it away.

Once you locate the right executive office suite provider, you'll be grateful you took time to do your research. The impression a client takes away from visiting your office suite will stick in their minds for years.

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Stock Market Confidence Up for Improving US Office Market Recovery

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The Royal Bank of Scotland (RBS) has upgraded Regus, the worlds largest provider of executive office suites, to a buy, from hold, as it believes earnings can surpass a previous peak.

RBS analysts  believe that the company is a good play on the continuing US economic recovery and continued emerging market growth.

With confidence in US small to medium sized businesses improving, RBS says that this is good news for Regus, which derived 42% of its 2010 first half revenues for North America.

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