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A Serviced Office vs a Convential Lease

A Serviced Office can cost up to 60% less than the standard conventional office space lease. A Serviced Office provides a comprehensive infrastructure without the capital expenditure providing all of the facilities a company requires. If you look at what a typical conventional lease entails:

Capital Expenditure:

A conventional lease usually requires a significant deposit which can tie up capital
Dilapidation Costs: A leased office space usually has a requirement to return the office as it was delivered i.e. with all infrastructure / fit outs removed. This can add significantly to costs when vacating a premise
IT Infrastructure: Network infrastructure, internet connectivity
Meeting Rooms: Video/ Audio conference equipment, multimedia capability for presentations, furniture
Office fit out: The Office needs to have carpets fitted, walls decorated, kitchen etc.
Office furniture: Desk, chairs, cupboards
Professional fees: Professionals to install/configure the items listed above
Telecommunications infrastructure: PABX, telephones, phone line

A serviced office typically provides all of the above at no additional cost.

Monthly Overheads:

Administrative staff
Building insurance
Catering facilities
Conference / meeting coordinator
IT support
Kitchen facilities
Maintenance
Office Cleaning
Office Rent
Postal/Parcel Services
Rates
Reception staff
Repairs
Rest areas
Telephone answering
Utilities

These items would be administrative functions that would require resources to deal with. A typical serviced office would provide all of the above for a simple single monthly payment which can reduce administrative staff overheads. There is also no need to spend money on receptionists or meeting coordinators as these services are typically included.

Scalability/flexibility:

A serviced office is easily upsized to a larger office with the minimum of expenditure
A serviced office is easily downsized to smaller office with the minimum of expenditure
A serviced office does not typically involve solicitors expenses that are usually associated with a conventional lease
No long term rental commitments are typically associated with a conventional lease
A conventional lease can have a long lead / setup time before being able […]

By |March 1st, 2013|News|Comments Off on A Serviced Office vs a Convential Lease

The benefits of a Virtual Office

Virtual Offices are growing in popularity as can be seen by the substantial increase in number of companies offering these services. A Virtual Office describes a wide variety of working scenarios but typically it refers to a service that provides most of the services you would expect to have within a serviced or conventional office without the fixed physical space.

If you are a business owner whose employees spend most of their day fulfilling administrative activities you can save significant amounts and make your company more efficient by setting up a virtual office.

The most obvious saving is on the renting of physical space. There is no requirement to provide a working space for each employee including infrastructure, fit out and furniture. If all your employees are working from home, there will be no reason to have a central office, and if there is, it can be much smaller than if you were housing a team of employees.

A virtual office can utilize the services of temporary or freelance workers. This will save on medical benefits and vacation time. Remuneration does not need to include the cost of commuting. There is more flexibility with these employment arrangements and the cost of downsizing or upsizing is vastly reduced. Employees can work from home saving them time and with the advances in IP telephony across the internet, they can communicate as though they were in a central office.

A virtual environment breaks the shackles of the typical geographic limitation to recruitment. Employees can essentially be based anywhere they have access to the internet. This also allows you to expand your business with international start-up costs.

A virtual office eliminates many of the disruptions to your business that the traditional working environment can […]

By |February 1st, 2013|News|Comments Off on The benefits of a Virtual Office

The benefits of a Serviced Office

There is a pre-conceived notion that Serviced Offices and Virtual Office Services are for start-ups, consultants and small companies only and that they do not offer services applicable to medium to large size enterprises. While this was to a certain extent true in the past, this is now changing and Business Centres offering Serviced and Virtual Office Services are becoming increasingly popular with medium to large companies. So, what’s changed? Why are businesses of all sizes looking to leave their conventional leases behind in favour of the Serviced and Virtual alternatives?

Economic times:

At servicedandvirtualoffices.com, we understand that the world has changed in the past 5 years and the future is at best uncertain for many companies, large all small. Committing to a long term conventional lease in the current economic climate reduces flexibility. Downsizing or upsizing takes longer and is more expensive. Companies across the board are seeking to reduce staff levels, reduce overheads and maximise their flexibility to mitigate the current uncertainty they face. The political turmoil in Europe is having a knock affect around the globe and Management teams are struggling to predict what lies ahead.

It is therefore no surprise that when faced with committing to a long term lease and the costs of providing the requisite infrastructure that they are opting for the flexibility of a Serviced Office environment. The scalability without financial penalty, robust modern infrastructure and other facilities like meeting rooms and state of the art telecommunications that a typical Serviced Office provides are becoming increasingly popular with CEO’s struggling to balance budgets and forecast cash flows. It provides them the wiggle room to manoeuvre if forecasts prove to be inaccurate.

Uncertain economic times result in increased risk in terms of capital […]

By |January 1st, 2013|News|Comments Off on The benefits of a Serviced Office