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Entries Tagged as 'Executive Suites'

Next up, Cloud Officing

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A new concept in officeing. Cloud Officing is similar to Cloud Computing in the technology arena, Cloud Officing is all about making an expensive infrastructure available at a reduced cost under a utility model. The idea is to provide a low overhead workplace solution, on a hosted, pay-per-use, and ubiquitous basis. One of our OfficeFinder Members is among the first to offer this new service. They have proven the concept with a grid of 14 locations in the Greater San Francisco Bay Area, which is expanding in partnership with landlords. The company has plans to deploy and manage thousands of on-demand locations around the globe and will start expanding out of its initial Northern California market in the middle of this year.

According to them, the average amount of time a worker is physically present in a dedicated office ranges between 25% and 40%, which is a waste of an expensive asset since facilities and corporate real estate costs represent the 2nd largest expense in most corporate books. This utilization ratio can even be worse for sales people or customer service-related professionals. The need to slash occupancy costs, along with a desire to reduce carbon footprint by bringing the workplace close to where people live, are driving corporate interest for alternate means of officing.

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Executive Suites , Office Space , Virtual Office Space

Regus Profits up 25% in 2008

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Despite the recession Regus profits rose 25% according to a recent article at telegraph.co.uk in 2008.  Regus, headquartered in the UK, is the largest provider of executive suite space in the world with over 950 location with a total of over 171,000 work stations in 75 countries.

Mark Dixon, the chief executive, said the company's BusinessWorld division, which provides temporary workspace worldwide for business people who work without a permanent office, made more money last month than in the whole of 2008. He said BusinessWorld now has more than 180,000 members across the world.

Mr Dixon said the recession has caused a "fundamental change" in how businesses operate, with even FTSE 100 and Fortune 500 companies using its offices in an attempt to slash operating costs. The company said it has also witnessed a huge increase in demand for a new range of "recession busting" products, including video conference facilities.

He said the recession has been the "catalyst" in irreversibly changing businesses approach to flexible working. However, he added that the company is not "immune" to the global economic downturn and said "2009 will be a difficult year"

 

Executive Suites , General , Office Space

Getting to Big from your Home Office - Part 1

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You have your own small business and you are home based. Are you concerned about your image? Do you tell your clients that you work from home? The typical answers are yes and no, respectively. If that sounds like you, what can you do to enhance your image while still being able to enjoy the ability to run your business from home?

Probably one of the easiest and least costly is to sign up for a virtual office. A virtual office is just what it sounds like, virtual.  You won’t really have a permanent office, but you can use the prestigious address of the provider as your own. You will also be able to have access, on an as needed basis, to conference rooms or even a day office on a pay as you go basis. Not only that, but you can also use their  administrative staff to do work for you and only have to pay for the time you use and not have to file any tax forms or provide any other employment related paperwork.

Virtual Offices offer an A La Carte Menu of services. You can get their staff to do your work, have them answer and forward your phone calls and they can collect and even forward your mail. The typical provider has all of the office equipment you could ever need and you can use it, once again, on an as need basis which will allow you to avoid big capital outlay to purchase yourself.

If you have a home based business and want to look big, a virtual office is your answer.

For more information on Home Officing, read The Home Office from Hell Cure.

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Executive Suites , General , Home Office , Office Space

Executive Suite Office Space on EBay?

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Here is a novel idea, get an Executive Suite rental on EBay. Two Las Vegas Area Executive Suites have each placed an office on EBay to allow potential occupants to bid on them.  The bidding price starts at $.99 per month with an initial term of 3 months at the bid price. One executive suite auction has already closed at $279.50 per month, well below the usual price of $600 - $800 per month. Both require security deposits of $400 - $800 to move in. The other one is still open for bidding. This is a very creative marketing idea in a down market.  Depending on whose numbers you use, the office space vacancy rate in Las Vegas is among the highest in the country at around 17%. The hope is that after the new tenant has been in the office for a few months and experienced the office and services provided by the center, they will choose to stay on at a higher price.

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Las Vegas Office Market Information

Executive Suites , Las Vegas Office Space

Re-evaluating Office Space Utilization

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In these uncertain economic times many businesses are re-evaluating their use of their office space.  Office space accounts for a large portion of most businesses operating expenses and figuring out and implementing how to reduce the cost leads to bottom line gains. On average each employee requires an average of 200 to 250 square feet of space. If you are in a market where the cost of space is $30.00 per square foot per year, your annual cost per employee will be around $7,000 each, not including all the other expenses related to on-site employees such as phones, furniture and office equipment.

Many companies, both large and small, find that they are operating at a 50% to 75% office space utilization rate. In other words, on average up to half of the space they are paying for is not in use.  It is not always the same space that is not in use, but the net result from employees working outside of the office, whether on sales calls or working from other locations, results in very high excess office space capacity.

As the workforce continues to shift to a more mobile knowledge and technology based worker, more options are available to better satisfy employees while reducing the cost of housing them on site.  One of the big hurdles in making this change is trust. When employees are working outside the traditional office, management becomes uncomfortable with their supervision, not sure if employees are truly doing what they should be doing. Getting over this is a big deal.  Putting procedures in place to increase management comfort and confidence levels will allow operational changes within the organization that will have positive outcomes for all.

What are the options to improve utilization?

For a larger company, providing office space to employees on an as-needed basis instead of the traditional private use basis is an option. The first step is to identify those employees who are currently working outside the office and how much time they spend in that capacity. This option works best with sales organizations, ones in which employees travel frequently or those who could take advantage of employees telecommuting (a misnomer now since it is more like a virtually VPN connected scenario rather than a telephonic one).  It is important to evaluate office use requirements based upon peak usage times rather than average usage to determine what the realistic savings could be. A key to planning for peak demand is having a well organized set of procedures for when capacity does fill and a reservation system that does not make the employee feel like a nuisance, but that they are doing a service to the company.  The transition from the conventional office where everyone has a permanent place to that of an “Office Hotel” is becoming more popular.  It is not be an easy task implement, but can lead to both cost savings and increased employee satisfaction.

Another option available to organizations of all sizes is the use of Executive Suites.  These are businesses that are involved in the business of providing office space and office services to outside businesses.  Typically what you will find is a floor of a building dedicated to offices of varying sizes which are available to rent on a flexible term basis.  Not only do they provide office space, but they also have a full staff available to perform any duties their clients need on as usage basis.  In addition they also provide access to all of the usual office equipment, telecommunication systems, High speed Internet access and furniture one would expect in a fully outfitted office. This can significantly reduce the overhead cost associated with the traditional office.  If you are interested in comparing costs, try out our Executive Suite vs. Conventional Office Calculator for an impartial comparison.

Either of these options presents you with the ability to improve the bottom line by reducing the cost of office space.

Other useful links:

Small Office Alternative
Office Space Calculator
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Executive Suites , General , Office Space