What is a serviced office?
A serviced office is a fully furnished workspace that is equipped with ready to use equipment and facilities like printers, high speed wifi and even additional amenities like kitchen facilities and parking on site. A serviced office is also known as a flexible workspace and is a great, flexible option for businesses looking for an office on long or short term contract basis.
Difference between traditional and serviced offices:
Traditional office spaces are better for large, more established companies who have stable capital and & a definitive growth pattern. These businesses can easily commit to long term contracts. On the other hand, serviced offices are ideal for SMEs, startups and companies looking for a temporary workspace with flexible lease terms.
Another key difference is that with traditional office solutions, you may be required to spend large amounts of money on decor and buying furniture and office equipment. This could be both time consuming and expensive. But with a serviced office, the price is calculated according to the number of desks or workstations you need as opposed to paying per square foot. This is not only more efficient but extremely cost effective and could save your business a lot of money in the long run.
With a serviced office, you also have readily available amenities plus additional benefits that not only prove to be more convenient but also better for smooth business operations and management. So why should you sign up to a serviced office in today’s environment? Here’s 6 reasons below:
With serviced offices, you get the option of long term and short term contracts. This is extremely beneficial for startups and growing businesses that are looking to expand and can do this easily without breaking existing agreements. It’s also a good option for businesses who are not looking to commit to a long term agreement right away.
Serviced offices that are offered by coworking spaces are particularly favourable as you have the choice of multiple membership options, in case you wish to downgrade or upgrade your membership. Although serviced offices are basically “move in ready”, you also have the flexibility of making your space entirely your own!
CoWork Me offers private, secure + fully furnished, move in ready offices from as little as $400pp, p/month for offices of 2 or more, with the option to expand. But over and above this, we also have our hot desking and virtual office options to suit individual requirements.
♦ Pay as you go facilities:
A great benefit of being in a serviced office is the added facilities that are provided to members. With pay as you go facilities available, many overheads can be reduced to your actual usage.
At CoWork Me, these are some of the on site facilities offered:
- Access to your own hot desk, secure high speed internet and printing facilities.
- Access to other quality amenities including serviced meeting spaces, on-site cafe and end of trip facilities.
- Access to a range of valuable CoWork me networking and community events.
- Access to our secure paid parking on-site.
- Access to shower and changing room facilities.
- Free on-site meditation sessions.
♦ Make valuable connections:
If you and your team have hired a serviced office in a coworking space, you also have the benefit of networking and creating new connections that could be valuable for your business. You also have the chance to be part of a thriving and vibrant community, which not only boosts team productivity but cohesive support as well.
For instance, at CoWork Me, there is a strong sense of community and culture & we are always looking for ways to engage the community through social events and activities. Some of CoWork Me’s events include weekly Friday Nights, member-led workshops and unique events like Christmas in July.
We also carry out virtual events for our members, like our virtual meditation sessions and upcoming talent show event, to keep our members engaged.
♦ Cost effective and stress free:
Working in a serviced office means that you don’t need to worry about the utility bills, cleanliness and maintenance of your office or even receptionist services. All these things are taken care of or are already included in your membership contract. At CoWork Me, we have a dedicated team that manages reception, mail services, operations and maintenance of the building – so all you need to do is focus on work.
When comparing a commercial, traditional office to a flexible coworking space for 10 people, the numbers are in favor of coworking. When taking into consideration the large initial fit-out costs, yearly expenses such as the internet, utilities, rent, cleaning, amenities, and receptionist staff over 5 years, there’s a saving of over $400,000+ to be made. Overall, renting or leasing a serviced office is proved to be more cost effective and affordable than a traditional office. Research has indicated that on an average, businesses save $85,000 per annum over 5 years.