What is a serviced office?
A serviced office is similar to a traditional office or office building but is fully-furnished, fully-equipped, and managed by a company with the ability to rent individual rooms or floors to other companies. They may also be known as a business center, executive suite, or managed office.
How do serviced offices work?
Serviced offices are owned by a facility management company or office provider, sometimes working with a serviced office broker to find tenants to rent office space. Companies that manage these spaces have greater ownership and control over the spaces, so they usually are more flexible with long-term leases and requests for additional spaces compared to a traditional office. These offices also allow businesses to save money through shared spaces and resources, from meeting rooms to printers.
Serviced office spaces are sometimes referred to as executive office suites. Learn more about the distinction in our blog post here.
What is included in serviced offices?
Services and amenities tend to vary depending on the property manager, but they typically include:
– Furniture (desks, chairs, whiteboards, coat racks or lights)
– Receptionist or front desk
– Conference room/meeting room
– Telecom services (dedicated phones, televisions, or webcams)
– Administrative support (such as help with printing/faxing/mail delivery)
– Internet connectivity (Novel Coworking uses direct fiber and Wi-Fi)
– Kitchens/kitchenette with fridge, coffee makers, and dinnerware
– Heating and air conditioning
– Cleaning services
Watch this video on Novel Coworking’s SmartSuites for an example of what to expect:
What are the benefits of a serviced office?
1. Cleaning and maintenance included
- In traditional offices, businesses have to hire separate companies to clean each office every night and to maintain computers and other equipment in the event of an error. Serviced offices already have an on-site team for both cleaning and maintaining the facilities, which can free up time for businesses to purely focus on their operations and development.
2. Reputable business address
- These offices are usually located in downtown commercial or financial districts – and for a reason! There are numerous benefits to having a downtown business office, including access to restaurants, services, and financial institutions. Beyond convenience, having a business address downtown also creates competitive advantages for business development. For example, customers are more likely to purchase from a business with a prestigious downtown address than from an apartment or rural residence.
3. Flexible lease contracts
- When businesses sign up for a serviced office, they’re not tied down by a conventional lease agreement. For businesses who are looking for the ability to opt-with short notice, these offices provide a great alternative to traditional office spaces. Some may even be willing to negotiate lower monthly rates in exchange for a long-term contract with businesses.
4. Pay-as-you-use equipment and facilities
- If your business seldom uses expensive conference equipment or printing supplies, then the money that would be used to purchase that equipment may be better invested in other areas. Fortunately, in a serviced office, businesses need only pay for each use or each hour. Small business owners understand there are many monthly costs associated with running a successful company, and minimizing facilities overhead and equipment investments by leasing with a serviced office provider can result in major cost savings in the short and long term.
5. Access to a national serviced office network
- Some serviced offices, like most coworking spaces, offer a national network of offices open to members. As long as you have a pass, you can enter any of their other locations throughout the country, introducing greater flexibility and mobility into your business schedule.
6. Move-in ready offices
- Businesses don’t always have the liberty of spending weeks on moving equipment and personnel into offices. Sometimes they need to get up and running as soon as possible so they can start making money. But these office spaces reduce the risk of downtime by allowing clients to move in immediately.
7. Trained administrative staff
- Expecting a visitor to your office? Want to mail something out? Need some new office supplies? These serviced spaces aren’t complete without a group of fully-trained staff, such as a dedicated receptionist that can assist with daily business. You can feel at ease knowing there’s an additional member of your team you can count on.
Why use a serviced office?
- Startups/Entrepreneurial Venture– New entrepreneurial ventures and startup companies want the bare necessities of an office without breaking the bank. By working with a serviced office, they can enjoy the benefits of a meeting space, private office, and admin support without any of the costs.
- Silos/New markets – Businesses like marketing agencies tend to expand to new cities to reach new customers. Setting up offices across the country accomplishes the task without all the hassle of setting up a new building or team.
- Specific projects – Serviced offices are great for quick, one-off projects, like film production or event hosting.
- Transition space – For brands that are moving between locations, a serviced office can provide immediate access to office space. This quick set up can help to ease the transition period.
Are coworking spaces the same as serviced offices?
Coworking spaces certainly share a number of qualities with serviced offices, including the support teams, shared facilities, and flexible lease options. The main difference is in the name: coworking spaces offer businesses the ability to work in a large, wall-free space that cultivates creativity, collaboration, and productivity. Serviced offices typically only have office rooms or suites.
As expenses for traditional offices soar, more companies are switching to serviced offices and coworking spaces. Learn more about Novel Coworking’s office plans today.