Post-pandemic era, studies have shown that employees are most likely interested in a hybrid policy and businesses are looking for flexible solutions to accommodate their teams. However, finding the perfect office space can be a real challenge. To keep up with the latest trends, more and more professionals and businesses are going for serviced offices, which are fully-equipped offices with shared amenities and services that come with flexible lease terms and commitments.
This comprehensive guide will show you how serviced offices work, the benefits they offer, who can benefit from them, and how they differ from traditional offices and coworking spaces. Whether you are a startup, freelancer, remote worker or an established business, this is going to help you decide if a flexible office is the right choice for you.
How serviced offices work
Serviced offices are all-inclusive workspaces shared by various businesses and managed by a third-party provider. Compared to traditional offices, serviced offices are well-furnished and equipped with office essentials, from desks and chairs to filing cabinets. These items are listed as individual items, or as a “workstation” package, making it easy to scale up or down as necessary. Simply bring your laptop, and you can start working right away. In addition, serviced offices like Compass Offices provide shared amenities such as meeting rooms, reception services, printers, a lounge for casual meetings, and of course, pantries stocked with coffee and tea.
Lease terms for serviced offices are also flexible. Since you are renting the usage instead of the ownership of the workspace, leases typically range from daily to monthly, or even yearly. You can easily move into a larger or smaller office within the same property, without the hassle of relocating to a new place, which is extremely convenient for startups and small and medium-sized enterprises (SMEs).
Many serviced offices offer a virtual office service, which is a common offering. This service allows you to use their prestigious business addresses, professional phone answering with tailored greetings and voicemails, as well as mail handling services, just like in a traditional office. Some providers even offer business registration and company secretary services, making it a truly one-stop solution.
The benefits of serviced offices
Serviced offices offer advantages that traditional offices cannot match.
Let’s begin with flexibility and scalability. Not only can you rent by the day or month, which is rare in office leases, you can also adjust the number of workstations as your team grows or shrinks. This is particularly useful when your team size changes that corresponds to different development stage.
Next, you can boost your professional image at a fraction of the cost. A prestigious business address, well-trained reception, and access to equipped meeting rooms earn credibility immediately. Some international providers offer access to their locations in other countries, allowing you to work and meet clients with the same setup, on business trips. At the same time, you can save costs by sharing facilities and services with other renters – meeting rooms, event spaces, reception, and even coffee and tea. Plus, you don’t need to worry about maintenance – an added bonus.
Serviced offices also got you conveniently covered with high-speed internet, printing and scanning facilities, office cleaning, to name a few. With these amenities all set up properly, you can now focus on your core operations.
One of the major perks of having a flexible office is the networking opportunities. Apart from building your network by meeting other renters within the same centre, you can also join their business events and talks, meet like-minded professionals, and potentially work on projects together. Some serviced offices, also host free classes like yoga, latte art, and wine tasting, which is a fantastic way to unwind with your team and other professionals.
Are serviced offices right for you?
Whether you’re a startup, entrepreneur, freelancer, SME, or established business, a serviced office could be the perfect choice. Startups, entrepreneurs and SMEs can benefit from the all-inclusive and cost-effective setup, as well as the flexible terms, and simply focus on growing their own businesses. Serviced offices can also be used to build a professional image, which is essential when meeting with clients and vendors. Additionally, you have a full office team to support you, from greeting your guests, to handling your mails.
On the other hand, the collaborative environment and sense of community make it easy to meet new people and expand your network, which freelancers and remote workers particularly enjoy. Serviced offices are also a great option for established businesses as a cost-effective and flexible workspace for satellite offices or project-based work.
What are the differences with coworking spaces?
Although some may assume that serviced offices and coworking spaces are the same, they are actually different. Both offer certain amenities, such as common spaces and meeting rooms. Additionally, serviced offices provide a private and dedicated office that can be tailored to meet individual needs and more importantly, is securely locked by yourself.
Coworking spaces typically offer shared work desks and open meeting spaces that promote a casual and collaborative environment, making them ideal for startups and freelancers. In contrast, serviced offices strike a balance between privacy and accessibility, creating a more formal and professional work environment suitable for all types of businesses and professionals.
Whether you’re a startup or an established business, you can take advantage of having your own fully-equipped, secure, and serviced workspace, while still having access to shared amenities. With a range of benefits and advantages, no wonder serviced offices are becoming increasingly popular, with many businesses opting for flexible offices over traditional office space.
What are the differences with traditional offices?
The first major difference is certainly the lease terms. Unlike traditional offices, which require commitment to a multi-year lease and a significant deposit paid upfront, serviced offices offer much more flexible terms, from daily to monthly or yearly, allowing them to cater to any businesses needs. Most of the time, contracts are generally renewed every year and the deposit is usually 2 months.
Serviced offices also remove the burden of investing in expensive office equipment, renovation and infrastructure as they’re set up and shared by renters. Additionally, serviced office teams would take care of administrative and maintenance tasks, whereas in traditional offices, businesses would have to manage these tasks themselves.
However, renters should be aware of the limits on customisation in serviced offices, compared to traditional offices, where fitting out work is allowed. Since serviced offices are fully furnished, they usually let you do limited branding work in your own space only, or they may have strict requirements to restore it back to its original state at the end of the lease.
Opting for a serviced office can be a smart decision for those seeking a hassle-free, cost-effective, and flexible solution for their office needs. With a range of amenities and services readily available, businesses can focus on their core activities and growth while leaving the day-to-day office management to the professionals. Serviced office providers also offer businesses a professional and comfortable work environment without the burden of long-term leases and expensive overhead costs.