What is a Serviced Office Space?

A serviced office space is an office that allows you to pay-as-you-use.

It is a fully furnished, fully equipped space that is managed by an operator. Usually you are on flexible terms and you have the ability to rent out the space whenever you want, and for as long as you want. You can either rent out a single office, or a fully floor. This is a great option for people starting up companies, or companies and business that move around.

You are not locked in to anything and you have the ability to move around as you please with no long-term lease involved. Serviced offices are also known as executive suites or business centers and is part of a global shift. Businesses want to be more flexible and do not want to sign long leases if they don’t have to. As online businesses are becoming more and more popular, they will want more and more flexibility within their office space.

They want to find more agile ways for office space as well as for affordability.

new office furniture

Depending on where in are located in the world, this might seem like a more expensive way to rent out office space, but you need to figure out the right plan for your business. If you plan on renting out a space for a long period of time, maybe the conventional way is better for you. If you might only rent out an office space for a few days a month, than this will be the more cost efficient and effective way for you to do it.

You might be wondering what are the key benefits to renting out a serviced office, and you can see the major benefits outlined below.

  • It’s a great short-term option and it’s very flexible.

  • It’s more cost efficient and there is no down time.

  • You will have more access to new markets and up to date technology wherever you go.

  • You will have all the materials and facilities you need to run a business, with everything up to date and fresh.

  • You can pick and choose the locations you want to work from.

  • You will have no maintenance costs or you will not have to sign a lease.

  • When you need help with administration tasks, you will have full access to that. You will also have access to private office spaces for meetings and other functions.

Ideally, a serviced office space provides you with the flexibility, and cost efficiency that one might need. You are provided with a social, creative and collaborative space that will provide you with the right amenities needed in order to perform well in your space.

If you think about it, when renting out a conventional office space, a lot of the times you need to furnish it and provide your employees with the amenities they need in order to work. With a serviced office all those expenses are gone, and you are only paying the flat fee to rent out the serviced office space. With a serviced office space, most come with office furniture, kitchens so that your employees can cook or store their meals, conference rooms for meetings and gatherings, breakout rooms and telecoms.

Her first office

Depending on how fancy your serviced office really is, some come with restaurants onsite, fitness facilities, event areas, storage rooms, as well as administration support centers. You can be as luxurious as you want or as minimal as you need. The main market for a serviced office is generally start-up companies, businesses who are expanding and growing into different sectors and new markets, project-based teams, and new entrepreneurs who are testing the waters.  

If you were a new business, I would recommend doing something like a serviced office space or a co-working space to start.

This will allow you more flexibility with your job and you will not have the overhead costs that you would have with a traditional office. Also, you might be more productive because you have such a clean and luxurious space to work from that you wouldn’t necessarily want to invest in when just starting out. So to sum things up, with a serviced office you have minimal overhead expenses, no lease terms, more flexibility, no maintenance costs, access to admin support, and you can pick and choose from the locations of you choice. It’s a win-win all around.

Stay tuned for our next article on ‘How Artificial Intelligence can help your business.’