Flexible office space or conventional leases?

Contract, space, location and price. These are the starting points we look at when searching for office space - and rightly so. But is it worth paying a bit extra for fully serviced offices - or would you rather have the space? Probably.  Serviced offices not only saves you bargaining for lower internet prices, but also saves you time and man power in setting up. But don’t take my word for it, here are a few things to consider before making the final decision.

Lease length

Conventional office leasing involves a long-term contract - usually five to ten years but often holds a break clause at around three years. This type of office space can be perfect for well-established businesses who know which geographical area they need to be in to get the most out of their business, and, who are aware of profits they need. They normally know the exact space needed for employees as conventional office leases don’t allow for downsizing or increasing floor space.

Flexible offices on the other hand are perfect for new businesses or companies which develop or change quickly. This is due to the flexibility of moving offices, increasing or decreasing the size of your space, or downsizing if your business if in the unfortunate circumstance that hits a bump in the road (which is all too common with the economic situation these days).

Office Space

Flexible offices are just that - flexible. The short-term leases that are signed usually only take a month’s notice to get out of, which means that if your business is expanding rapidly there’s no need to worry and you can move to a larger office space at - the relative - drop of a hat. It also means that you don’t have to think about how big your business will be in five years time. With conventional office spaces, you need to get a larger - and more expensive - space well in advance of your business expanding, based on a prediction, which can be risky.

Set up time

Conventional spaces take a long time to set up - before you've even thought about moving in. Energy and telecoms suppliers - among other things - need to be organised and up and running while your company is still in full operations in its original location, meaning that overheads are often doubled. With flexible offices, set up time can be as short as one day. Amenities such as phone lines and internet are readily available, so switching offices can be a simple and straightforward task.

Amenities

Whether it’s finding a receptionist, handling mail, getting insurance or securing the building itself, there’s plenty to think about before you move in. However, with flexible office spaces, these are provided and paid for within the lease contract. Most of these overheads are included as well as things such as electricity, broadband services and heating.

Have you had experiences with serviced offices? Good or bad, we'd like to hear your story - get in touch.