21 November 2016

Are serviced offices the best option for your business?

Serviced offices are an ever growing industry across the world, particularly in Europe. Why? Well, according to almost everyone, the key factor is money. Serviced offices make it possible for smaller businesses to have their own office space, it can be more cost efficient and in turn allows for more flexibility.

Who is using shared office space?

There is a myth in the market that serviced offices are only suitable for start-ups, where most can’t afford to build their own office. However, serviced offices can be suitable for businesses across the spectrum, from start-ups to multi-nationals. Studies conducted by the UK Chartered Institute of Procurement and Supplies have shown that businesses that choose serviced offices can reduce their costs by up to 78%.
This represents a large cost saving and, for companies able to utilise serviced offices, it enables them to reduce overheads which can be funneled elsewhere – a real and very tangible benefit for any business.
Serviced offices provide the office environment without the need to raise the capital required for their own office. Whilst the cost of serviced offices may at first glance appear high in comparison to traditional office spaces; when taking into account that additional expenses are rare; the cost can be greatly reduced when taken as a whole.

Building a community

One of the elements that serviced offices provide is a sense of community. For new businesses, it provides a ready-made network of like-minded people who have experienced many of the challenges they themselves may face. These connections provide people and businesses with the help and support they need to grow.

Larger companies in serviced offices sometimes contribute their vast expertise to the community by utilising office space and providing workshops on their core services. These can often be anything from law, taxation and accounting, to marketing and building company culture. This gives them the opportunity to talk to and influence the next generation of business owners and support them on their journey.

Are serviced offices right for everyone?

The benefits of serviced offices are evident for both small and large companies, even though both have different reasons for being there. Is there a time when the serviced office is not the best option for a company? As companies grow and employ more people, they develop their culture and their own identity. Serviced offices cannot provide the opportunity for businesses to grow their own identity as their culture is often enveloped by the overarching serviced office building and community.

Many companies find that a serviced office works for them up to a point, and once they have grown to a size where a private office makes sense, they are then able to look at their first permanent home from a position with greater stability. This allows them to take the step and create an office which reflects their core values and allows them to grow.

Developing your own culture

The benefits of owning your office space is the ability to influence how it is shaped, how it feels and how it fits with your business and employees. An office is an important part of any brand, it is the place where your employees spend most of their time, it is where you showcase your company to clients and it can be a central factor for potential hires when they’re assessing where they would like to work – having the right culture to attract the best personnel is a key part of growing as a company.

These factors are not always something that a serviced office can provide, so even though the markets for serviced office are growing rapidly, there is still the question of what is right for your company, and many find that having their own space enables them to have a stronger influence over how their brand moves forward.

How can Realys help you?

Whether you’re looking for advice on when to move into a new office, are relocating and want to find a new space that fits your requirements, or have found your space but need office design, then we can help. We are designers who build, we focus on consulting with our clients to make sure their office truly reflects what they want and what their company really needs.

We support our clients on their journey and it doesn’t just stop once the office has been built – we believe in forging lasting relationships and offering our global reach to help our clients move into new markets when their business requires.

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