Your first office space – what do you actually need?

Apple, Amazon, Google, HP, Disney, and a slew of other famous brands all started in the garages of their founders.

What exactly are serviced workplaces, and how do they function?

Serviced offices are essentially flexible office spaces for which you pay a monthly fee that includes all of your outgoings and includes or allows you to pay for extra services on a pay-as-you-go basis. Rent, service charges, heat, lighting, cleaning, office furniture, a shared kitchen, and reception facilities are common expenses. The usage of meeting rooms and the internet and telephone will be paid for individually.

Who makes use of them?

Start-ups, small to medium-sized businesses, and multinational corporations employ serviced offices. Spotify, British Airways, BBC, Transport for London, Disney, IBM, HP, Pizza Express, DreamWorks, Adecco, different government agencies, and prominent UK charities, to mention a few, have all used Flexioffices to obtain office space.

What are the advantages of serviced offices for small businesses and start-ups?

• The agreement’s flexibility
• You may shift between spaces fast
• if your firm expands or shrinks.
• All of your furniture, telephone connections, and infrastructure are given, as well as reception amenities, conference rooms, and call answering.

Apart from the subsidised low rental costs, another advantage of being at a business incubator centre is the social capital – knowledge transfer and collaboration with other businesses. According to the UK, a professional group for start-ups, business incubators have an average success record of 98 per cent of enterprises prospering while in the incubator and 87 per cent surviving after five years. A success percentage of less than 30 percent for small and medium-sized firms in the United States is remarkable.

What should you think about before you establish your space?

1. What is the best place for your office to be? – Do you like to be near your house, your customers, or a pool of experienced labour?
2. How much room do you require? – Typically, serviced space is priced per workstation or number of users. As a result, you should only need a large facility to accommodate your present personnel. On the other hand, some providers will enable you to add an extra desk to your workplace for free or at a modest fee.

If your business expands, you may simply relocate to a bigger office in the same building with no disruption, as long as you retain the same address and phone number. Unlike a typical lease, serviced offices have a short and straightforward licence agreement. It generally consists of a two-page paper with tiny font. Make sure you read everything thoroughly and ask questions if you have any questions.

Getting started

• Most businesses begin with the desired location, such as the city centre or a site near public transportation.
• See what’s available on the market after you’ve decided on a focus for your search. Always look at many options and request quotations.
• If you’re shortlisting, ask to chat with current tenants; it’s the greatest way to receive unbiased information.
• Inquire about cleaning schedules and inspect all of the facilities.
• Examine the agreement’s fine print.