Whatever your business, one of your biggest priorities is cutting costs. You have to find areas where expenses can be kept low. This is specially true when there is an economic downturn. But even when the economy is doing well and your business seems to be on the upswing, it is wise to keep costs as low as possible to maintain your margins and build up a contingency fund.
A big chunk of expenditure goes on leasing workspace. The rental itself eats up a good percentage of what you are earning. And when you lease space, you still have to furnish and maintain it. You need phone lines, an internet connection. You need staff. Day to day maintenance ends up costing more than you thought and saps your energy. When you should be focussing on your business, you find you are spending an inordinate amount of time just running the place and the costs keep mounting.
Given these conditions, serviced offices are a better option for most businesses. As the term suggests, these are offices kept ready for occupation. They are well-furnished and equipped; they are well-run, properly staffed and maintained. The furniture is in place, phone lines are installed. There’s a professional team taking care of all the details, leaving you hassle-free. The best ones (and it makes sense to choose the best) have an inviting ambience. All you have to do is take the kind of workspace that suits you and start working.
Cash flow is smoother with a serviced office. You get one bill that includes maintenance, infrastructure and all business facilities. All your office-related outgoings are included in that one bill. And you usually are charged once a month, so you don’t have to come up with a huge amount of money every quarter. This is specially helpful if you are a new business, just getting your feet wet. Being able to plan your outgoings month by month makes managing finances easier.
Scalability is a major advantage with serviced offices. Not locked into a longterm lease, you have the flexibility to leave at very short notice. If your business is growing and you need to expand, you can relocate to a bigger place. However, you may not even need to do that as most serviced offices are let in units, which means that you can take on more space without the expense and bother of relocating. It works the other way, too. If you need to downsize, a serviced office will enable you to get a smaller workspace without giving up any of the benefits of a well-run office.
Don’t underestimate the amount of time, energy and money that are needed just to keep the office running. Maintenance problems can crop up any time and you will need to divert your energies to dealing with them. You will be wasting precious time which should be spent on concentrating on business.
A serviced office makes good business sense. You cut your outgoings—besides, you have no ‘surprise’ expenses to deal with. You get value for money and have the flexibility you need. A serviced office provides a solid base from which you can build your business. How wonderful to be able to walk in and just get down to business without a care in the world –except what you can do today to make your business grow.