Serviced office spaces take away the pressure of running, managing, and paying the overheads of a private office. One all-inclusive package gives you access to space and equipment you might not be able to invest in all at once in a stylish and centrally located private workspace.
The concept gained traction when the rise of technology led to increased demand for customisable office solutions. The demand for the serviced office space has continued to grow in recent years thanks to the surge of remote work and the increasing need for hybrid office options that can accommodate changing business needs. According to Forbes, an increasing number of companies ‘need a place for their employees to call a creative home’. This is where a serviced office can help.
If you’re looking at serviced offices for rent, keep reading our complete guide, where we dive deeper into the benefits of serviced office spaces and how they can provide an inclusive and accessible package for businesses of all sizes.
What is a serviced office space?
A serviced office provides a professional environment with access to all the necessary equipment and amenities without the distractions of working in a public space. Serviced offices can also be a temporary solution for additional workspaces for a short period, such as during a project or expansion. This allows businesses to avoid the costs of setting up a new office while still providing their employees with a professional workspace.
Third-party providers manage these fully furnished workspaces and are strategically located in prime business areas to give you the needed edge. Businesses, freelancers and entrepreneurs alike can take advantage of the wealth of amenities a serviced office provides.
What is included in a serviced office?
A broad scope of amenities are included in serviced office rental packages, from high-speed internet to reception services and even bike storage in some cases. Many serviced office providers go above and beyond, offering access to networking events, making connecting with like-minded professionals and growing your network more accessible than ever. One of the best parts? You can leave the hassle of maintenance and cleaning to the provider, freeing up your time to focus on growing your business. Some further inclusions are:
- Fully furnished workstations, including desks, chairs, and storage
- High-speed internet connection
- Phone systems, including dedicated phone lines and voicemail
- Reception services, including mail handling and call answering
- Meeting rooms and conference facilities
- Kitchen facilities, including complimentary tea, coffee, and water
- Cleaning and maintenance services
- 24/7 access to the office
- Access to shared spaces, such as lounges and breakout areas
- IT support
- Administrative assistance, including printing, scanning, and copying services
- Networking events and community-building activities
Remember that the amenities offered may vary depending on the serviced office provider and your specific package.
How do serviced offices work?
The first step in setting up your serviced office is configuring your perfect workspace. Start by finding a location that best suits your business needs, considering factors such as accessibility, local amenities, and your target market. Once you’ve chosen your location, you can configure the size of your office space, whether you’re looking for a single office space or an entire floor and find a layout that aligns with the way you work.
The office administration team then draws up an agreement for you. After signing your contract, you’re ready to start work in your new space. Our team of experts will handle all the details, ensuring a smooth transition into your new workspace.
This all-inclusive package allows businesses to focus on their core activities without worrying about the day-to-day hassles of running an office. Additionally, serviced offices can enable businesses to scale up or down as required, providing a cost-effective solution for those requiring more or less space when needed. This process is a convenient and stress-free solution that skips the administrative burden of a traditional office setup.
What are the benefits of a serviced office?
Alongside the all-inclusive package and access to high-quality facilities, there are other benefits to fully managed offices which you should consider when weighing up your options:
Flexible term contracts
Unlike conventional office leases, serviced offices are signed month-by-month rather than on an annual or multi-year basis. This means you can move locations, adjust the size of your space or cancel it altogether at short notice if you need to.
Reception desks
Usually, part of larger business centres or commercial buildings, most serviced offices have a staffed reception. This gives you extra security and means your visitors get a professional welcome without you having to pay the salary of a receptionist.
Less management
Whether you’re setting up your office or have been there for a few months, the external office management team will deal with any problems that arise with your services or amenities. This means no more headaches or unexpected costs for your business if the Wi-Fi breaks or a water main bursts.
Personalise your workspace
Within some commercial properties, you can also customise your workspace. This means you can add your branding and style to your workspace without the overheads of a long-term lease.
Worldwide locations
Whether you’re looking for office space in London, Hong Kong or New York City, serviced offices put you on the doorstep of the world’s most desirable locations without investing huge sums into a property in the correct postcode.
Minimise business overhead costs
By choosing the exact amount of space and services you require, you are only paying for what you need. This can help avoid high costs associated with traditional office leases that often include more space than necessary.
Access to high-quality amenities and facilities
A serviced office provides complete access to everything you need for the seamless operation of your business, relieving you of the burden of dealing with any minor issues. Feel at ease knowing the essentials have been taken care of.
Accommodates growth and agile working
Businesses can quickly adapt to growth and market changes with various rental agreements, fully equipped spaces, and a range of amenities. they provide a supportive environment for agile working, enabling teams to focus on productivity and innovation.
Move-in ready offices
Efficiency is crucial to any business, so IWG helps you find office spaces tailored to your team’s needs, allowing for seamless integration and a quick start. Search for an office space designed to maximise productivity from the get-go.
How do they compare to other types of workspaces?
Alongside serviced offices, many other workspace options exist as different businesses look for more flexible agreements, better facilities and more central locations. Here’s how serviced offices compare to the other most common types of workspaces.
Serviced office vs coworking spaces
One of the key benefits of a serviced office is the level of privacy they provide. Their access to furnished, well-equipped workspaces with dedicated meeting rooms is a huge advantage. They are designed to boost collaboration and networking opportunities between members, while serviced offices provide a more exclusive environment. Whereas a coworking space is a shared space that provides a collaborative and flexible environment for individuals and businesses to work, favouring open-plan workspaces and shared common areas with other tenants.
Each has its benefits, though choosing between serviced offices and coworking spaces ultimately depends on the business’s specific needs.
Shared offices
In a shared office space, tenants share a physical workspace, but they have their own private offices or workstations. They differ slightly from serviced offices because occupants are responsible for IT and administrative needs. Typically, these are good options for businesses looking for a professional workspace without the commitment or cost of a long-term lease.
Traditional office spaces
Before Covid-19, the world was heavily familiar with the concept of traditional office spaces. These are typically non-shared offices leased or owned by a single company or organisation and are responsible for managing all aspects of the space, including maintenance, cleaning, and security.
Whilst traditional spaces offer a dedicated and private workspace, many new businesses are adopting a more hybrid approach. Coworking Resource reported that there has been a 158% increase in coworking spaces since 2020, prompting more expansion in this industry. The recent surge in the popularity of serviced offices is due to the immediate and stress-free solutions they provide business owners.
Which types of business use serviced offices?
Serviced offices are hugely versatile, with many types of businesses, from small startups to large corporations, benefiting from them. Whether you’re a freelancer looking for a dedicated workspace away from home, a startup or SME needing flexible office space with low setup costs, or have remote teams needing a professional workspace, a collaborative workspace is just what you need.
Large corporations and international companies can also benefit from utilising a serviced office. They are great options for temporary workspaces for employees when expanding into new locations or for businesses looking to establish a professional presence in a new country.
In summary, many businesses use serviced offices requiring flexible, cost-effective, and professional space.
How do I choose the right one for my business?
If you type ‘serviced offices near me’ into Google, you’re likely to get hundreds of results – so how can you make sure that the serviced office you choose is right for you? Here are three key questions to ask yourself:
What’s included in the package?
Before putting your name on the dotted line, look at what is included in your serviced office package. For example, will you have all the necessary equipment and be able to access it easily?
Is there enough space?
A general rule is that you should have around 100 square feet of space per employee. This gives them all the room they need to be productive while encouraging close teamwork and collaboration.
How long is the lease agreement?
Serviced office agreements typically run monthly, but checking your lease’s fine print is worth checking to ensure this is the case.
What do you need to consider when choosing a service provider?
Take advantage of using a serviced office that is fully equipped and ready for immediate use with all necessary amenities. Finding a suitable space can inspire teams, attract new clients, and simplify operational overheads into a single payment. However, for many entrepreneurs and businesses, a serviced office can offer more than just their wide range of facilities. It would be best to have a service provider offering a range of serviced office space packages and membership options in central locations worldwide.
A serviced office space is a perfect way to maximise scalability for larger businesses. No matter your business, serviced office spaces are specifically designed to boost collaboration and networking opportunities in a convenient and professional environment. As a new or smaller business, a serviced office can help save money when you’re starting up since they are fully furnished with office equipment and an internet connection. It can also help establish a professional image, with a reputable business address to meet clients and meeting rooms available. As your business grows, a serviced office provider can easily offer you the flexibility to expand and set up in new offices.