Thinking of getting a new office, but aren’t sure whether to go for flexible workspace or a traditional office? Read on for tips on how to pick the one that best suits your needs…
Deciding on a new office space can be difficult, but it doesn’t have to be a trial if you figure out what your specific needs are. If you consider what you need to make your business run smoothly and keep your employees happy, you can figure out whether a traditional office or flexible workspace is the right choice for you.
Read on for the pros and cons of both office types…
Length of contract
The type of office you need may depend on the length of time your business needs the new office. One of the most common disparities between traditional office space and flexible workspace such as serviced offices, is the lease length that a business needs to commit to. Flexible workspace is most ideal for businesses that don’t want to commit to long leases, who perhaps need space for a year or even a few months, maybe due to anticipated growth or for a specific project. Traditional offices are typically leased for longer periods, for more established businesses that aren’t likely to dramatically change size in the near future.
Office fitout and furnishing
If you’re a new or growing business, you may not have the funding necessary to purchase a large amount of office furniture, such as desks, chairs and more. It can take a significant amount of time and money to set up a business properly, and while that may not be an issue for more established companies, for start-ups and scale-ups it can be a big barrier to getting a proper office sorted. A flexible workspace could be the answer, as it provides everything you need without the huge investment.
It can be prohibitively expensive to rent out an office space, particularly for companies that have just started out. Though traditional office space might make sense if the business has guaranteed work through contracts, flexible office space may make more sense financially if you’re looking for a space that doesn’t require a long contract.
Amenities and utilities
Facilities management and office admin can be a full time job, and if you’re renting traditional office space, you might be looking at having to sort out your own services and amenities. With flexible office space, you won’t need to think about utilities, services, internet providers or anything else – it’s already taken care of for you, at no extra cost.
If you’re an established business, you might have already developed a robust corporate culture with regular socialising. A traditional office might make the most sense, as it can offer you a place in which to nurture your existing culture. However, if you’re a relatively new company, or one that wants to network with others in your field, it might be worth looking into a flexible space that has regular events with people from other businesses within the building.