7 Reasons Why Businesses are Choosing Serviced Offices
Are you looking for an office solution that's cost-effective, flexible, and hassle-free? Here are seven reasons why serviced offices are the perfect choice for businesses of all sizes.
Before coworking became mainstream, startups globally sought affordable spaces in warehouses, garages, or shared desks to kickstart their dreams. For startups, prioritizing cash and flexibility over long-term leases was key.
Flexible offices and coworking spaces now cater to a wide range of businesses, including law firms, accountants, creative agencies, engineering and construction firms, finance, and nonprofits. Regardless of your industry, a flexible office offers an ideal offsite workspace for collaboration and focused work.
Whether you're a tech startup, a solo lawyer, or a 75-person accounting firm, flexible office providers like Wizu, Work.Life, Mindspace, Storey and WeWork offer private office solutions. These providers have evolved to meet the demand for private spaces, with 90% of flexible offices now offering private options, a trend expected to continue due to Covid-19 safety standards in cities like London, Manchester, Liverpool, and Glasgow.
With clear benefits and the current economic climate in mind, flex space is an excellent choice for businesses. Whether your lease is ending soon or you're rethinking traditional office setups post-pandemic, now is the perfect time to explore flexible office options.
The top 7 reasons businesses are letting flex space
1. Flexible Terms
As the name implies, the flexibility to add or downgrade your office space on short notice is a key benefit to using flexible office space. Though you may find it enticing to lock in for more than a year, you have the flexibility to add more desks as your business grows. On the flip side, if you need to reduce the number of desks, break clauses and shorter-term agreements provide options.
2. Uncertainty
In uncertain times, pulling together a large down payment to lock in a long-term lease may not be feasible or desirable. Thankfully, the upfront costs associated with flexible office space is limited to a single month in advance minimising your upfront costs and commitment. Also, as your team expands or contracts, you avoid unnecessary losses tied to traditional leases.
3. Improved Cash Flow
Committing to a long-term lease requires cash upfront for the down payment, typically 3 to 6 months of rent in advance. For medium to large businesses, this is cash that could be put to better use, investing in new staff or launching a new initiative. With a flexible office, there’s no need to handcuff your cash flow with a large amount of cash leaving it available for other means.
4. Access to Extras
Outside of better cash flow, a major benefit of flexible office space is the extras included with the monthly fee. In many cases, your rent will include access to break rooms, desks, printers, event space, meeting rooms, showers, and bike facilities as well as 24/7 access and security.
5. A Larger Footprint
For many businesses, it helps to have a larger physical presence. Though the pandemic along with better technology has accelerated the work-from-home movement, there will always be times when having a local presence will be beneficial for those companies seeking physical contact with the people they work with. If you need a greater presence in one city for a set amount of time, a flexible office becomes an ideal option to set up a satellite office, without any major commitment.
6. Simplicity and Ease of Use
For those businesses that don’t have a dedicated office manager, the simplicity of having everything taken care of means their staff can focus on getting to work. With everything from furnishing, Wi-Fi, reloading the printer, and ordering stationery, reception and cleaning all taken care of, Flexible Offices really are a turnkey solution.
7 Fast Turnaround
The Flexible Office Market is a lot faster moving than traditional leased options, and with shorter simpler agreements, often only 2 or 3 pages in length, the legal review process is a lot less cumbersome. Typically, businesses looking for office space for a team of 40 might go from enquiring with Rubberdesk for a quote to viewing a bespoke shortlist and signing within the month.
With so many clear benefits, flexible office space is an ideal solution to help you manage a large component of operating a business. Removing this complexity frees cash and helps to manage the uncertainty we all face today.
