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Serviced offices are significantly gaining popularity and new developments are constantly cropping up in big cities all over the world. While they’re generally more expensive than traditional office spaces, they can certainly be beneficial.

The main problem with starting and maintaining a business is the cost. Even if you have a solid business plan and know your target audience, without enough capital you will struggle. Unfortunately, no matter how well you plan there will always be costs that you don’t anticipate, and sometimes even the slightest problem could cause your business to go under.

Short-Term Lease Agreements

Acquiring start-up capital is definitely the biggest hurdle when starting a new business. Once you receive finance you’ll need to ensure that it will withstand the test of time; therefore, sometimes it’s better to think short-term. Hiring a serviced office simply limits the risk associated with signing a long-term rental agreement. While a standard lease agreement usually lasts for around 3-5 years, a serviced office lease agreement can last for as little as one month; therefore, if you want to relocate, downsize or expand within the first few years, you have the option to do so.

Access to Facilities

Most serviced offices can provide access to services and facilities that would otherwise be far too expensive to purchase or hire. For example, it can literally cost tens of thousands to buy printers, copiers and furniture; however, with a serviced office all of these facilities are not only catered for, but maintained at no additional expense.

Tailored Services

Operators strive to provide a personal service; therefore if you need something specific they will usually do their utmost to provide it. For example, if you want your fee to include membership to a local gym or transportation to and from an airport, it could be arranged. Of course the costs would add up; however, if you’re setting up a business in an area that you’re not too familiar with, you could save a great deal of time and money.

Enhanced Corporate Identity

Sometimes it doesn’t matter how good your services are, people won’t take you seriously. Corporate identity is often crucial to success and if you’re business isn’t located in ‘the right’ place you’ll find it hard to break in. Serviced offices are often located in areas that are known for specific trades. For example, many tech-based companies want to establish themselves in Shoreditch’s ‘Tech City’, for this reason many new operators are building tech-specific serviced offices in this very location. Hiring a serviced office is simply a cheaper and easier way to get established in a specific place, which could attract more clients in the long-run.

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