When is the right time to move on from serviced offices?
Serviced offices are a good option for start-up businesses. They offer flexible space for those on a budget and are a great way to get your company going. However, there will inevitably come a time when you require something more permanent, not to mention a workspace you can tailor to your brand.
Here are some key signs that you’re ready to make the leap from serviced offices to leased premises.
Five Signs That You’re Ready to Move into Leased Offices
You object to paying a premium, just for the sake of flexibility.
In the early stages, having a short-term, rolling office contract is a big advantage, though it does mean paying higher monthly rental fees. But once you’re more established, these types of contracts can be limiting (not to mention unsettlingly impermanent). If you’re confident that your business is on the up, commit to a contract of six months or over and get a more permanent workspace. This will free up monthly funds, which you can put towards the more important aspects of growing your business.
It’s starting to feel crowded…
As your company has expanded, you’ve taken on more staff. As such, the serviced office space that worked so well when it was just you and your business partner, now feels cramped with the extra staff you’ve hired. If you’re starting to feel that you literally don’t have room to grow, then that’s a clear sign you need to move on to bigger, better things.
There’s no branding.
In a serviced office, you’re not allowed to put your personal stamp on things. That means no wall decals, no branding on the door and nothing that establishes the space as specifically yours. This is especially unappealing if you’ve got clients visiting you on a regular basis. If you’re starting to feel that your space is generic (or worse, looks a little amateurish), then it’s time to move to a place you can make your mark on.
You’re tired of living with other people’s furniture / design choices.
The furniture in serviced offices is usually relatively standard; some office chairs, a few desks and if you’re lucky, a shared meeting space. The décor is also likely to be fairly neutral (and dull), to appeal to all the different businesses passing through. With your own leased office, you’ll be able to invest in the furniture and décor that you want, and make a better impression on clients and staff alike.
You don’t want to share anymore.
In a shared office, you’ll often have to share amenities. This can range from sharing toilets and boardrooms, to buddying up with other businesses in the kitchen or break-out area. For a growing business, this can get a little frustrating. If you’re feeling like it’s limiting you, then it’s time to establish your own personal premises.
Is it Easy to Move into a Leased Office?
The process is surprisingly straightforward. Here’s a quick, step-by-step run-through:
- The viewing. You’ll view a range of leased offices available in your area.
- The proposal. Your leasing agent will send through all the relevant details regarding rent, fees, insurance etc. so you can make an educated decision.
- The offer. Once you’re happy to proceed, you’ll put in an offer. If this is accepted, you’ll need to pay one month’s rent as a holding deposit.
- The deposit. Once all the contracts have been signed, you’ll pay a further two months’ rent as deposit, which adds up to the three months deposit that we require. This is standard in the industry. You might then be required to pay the first month’s rent up front.
- The move. After this is done, you’re ready to move into your new office!