Nowadays, renting an office space may be really expensive. Traditional office space needs a lot of investment since the terms of the contract usually pan out for about 3 to 5 years. In addition to this, renting an office space may also entail some additional costs like the purchasing of equipments and furnishing and decorations of the space. Because of these factors and the current economic situation, many businesses especially the small ones have started to notice the potentials and benefits of a serviced office space.
Serviced office is a type of an office space that offers flexible and simple rental contracts while the renter is still able to take advantage of the amenities, facilities and on-site support that comes with the office space. Serviced offices are popular for business start-ups or small to large scale businesses.
Benefits of a serviced office space
Flexibility. Since the rental contracts in a serviced office are on a flexible month to month basis your business is essentially not tied to use the space in a long term period, this allows you to move out of the space when you need to, expand, upsize or downsize the space that you occupy as well as your team according to your business needs and demands.
You can choose where you want to locate. Because there is an increasing demand for serviced office spaces, serviced office providers are already started to branch out into the rural areas. There are some serviced offices in Singapore that caters to business owners who chooses to setup their business in rural area so that they can work near the comforts of their own home.
Chance to explore other markets. As you have the freedom to move from one serviced office space to another, you have also enabled yourself to experience and know different markets that your business may be able to reach.
You only cash out for facilities when you need it. In an serviced office space, you only have to pay for something if you need to use it. Facilities and amenities such as copiers, meeting rooms and even employees are available for you to use if and only if you need them. For example, you have an important meeting and you need a conference room, you can rent out one of the meeting rooms in the serviced office and pay for it by the hour.
Access to quality equipments and skilled staff. Since the amenities and facilities are paid for when you use them, service office operators are required to make sure that each of them are in a good working condition. In addition to the equipments and other amenities, service office operators can also provide you with a trained staff personnel when you need one.