Renting your office space is one of the biggest costs for a business, and you’re usually tied in with a long contract of multiple years.
Not only do you have to pay the basic rent payments, but you’ll likely also have to kit the space out with all the necessary computers and furnishings, all at an extra cost.
The cost could be even higher if you’re a new business, as research has shown that half of new start-ups fail within five years.
Nowadays more and more businesses are turning to serviced offices according to ‘The Storage Works’ who are based in Blackburn.
They told us: “Recently we’ve seen a rise of people taking advantage of our office spaces. The ‘under one roof’ aspect of it seems to really appeal to businesses, especially new SMEs and we’ve had great feedback.
“People seem quite wary of long-term leases and serviced offices give a great alternative to that.”
Below we’ve outlined the three main reasons that we believe that a serviced office might be a better solution for your business.
Less spend on up-front Costs
Moving into a new office comes with a host of added costs including, office supplies, furniture and setting up phone and the internet, as well as a deposit of around three months rent.
With a serviced office, all of the above is usually included, except the deposit which is usually only around one or two months instead.
This means that moving into your new office can turn out to be incredibly cheap.
There can also often be ‘pay-as-you-use’ facilities provided such as conference rooms.
Ultimately, a serviced office allows you to spend less time worrying about mundane tasks such as maintenance, and lets you get on with running your business!
Flexible, No Commitment Contracts
As we’ve pointed out, the risks of setting up business make signing up for a long-term contract a risky prospect.
As much as everyone would love for their business to be booming one or even five years from now, the fact is that nobody knows what the future holds.
On the other hand, serviced apartments offer simple short contracts as short as one month at a time, which are super easy to dip in and out of as you please.
It’s also easy to either expand or downsize your office space if your business needs change.
Like it or not, your customers and clients will judge every aspect of your business, right down to the smallest details.
However, serviced apartments can often give you a prime city centre address, as well as a front desk reception service, included as part of your monthly rent.
The benefits are even greater if you are currently working at home. Potential clients who see that your business is located in a prime city centre location rather than your home address.
They may only seem like small details, but it all goes towards creating that professional image that is so important to any business.
Serviced offices are a great cost-effective alternative to a traditional office space, and can work either as a temporary or permanent solution.
So if you’re starting a new business, or just moving your existing one, why not consider trying it? After all, if you don’t like it, you can easily just move out!