Leasing versus serviced office space?

Most people will understand how leasing office space works, as the concept has been around for years. A leased space is an office or a building that is let on a per square foot/square metre basis by a landlord.  The lease is for a fixed period and cost per annum, and is usually for a minimum of five years upwards.

Exiting early is not easy. All costs like fit-out etc are excluded. 

A serviced office is a furnished space within a building that is fully managed by a business centre or management company. The rental is on a month by month basis and the cost is inclusive of all services and facility management.

Renting a serviced office space or leasing will impact on how your business functions, and your choice can have significant hidden costs, or benefits.

One of the biggest benefits of choosing a serviced office space option is flexibility versus commitment. A serviced office space is usually rented on a month by month basis. That is the length of your commitment and you can easily expand or contract your space as your business needs change.

Other benefits include:

• Cash flow, expenditure planning. A fixed monthly cost, no extra bills – predictable and easy to manage. No rates, utility or other variable cost bills to worry about;
• No capital outlay on equipment eg IT infrastructure, furniture, printers/copiers, phones etc. and all are maintained or upgraded as required, with no additional cost to your business;
• Usually 'plug and play' – immediate move in
• Reception/meet and greet service included. Giving your clients the best first impression while you save the cost and management of an additional employee; 
• Virtual services. Some business centres may offer virtual/call answering services providing a professional response to callers while saving you staff costs;
• Networking. A mix of business sectors and sizes will give you an opportunity to acquire additional business, knowledge or guidance from other business centre clients. Centres may include free networking events;
• Services management. Hassle free management of service providers like utilities, canteen or food services, cleaning, waste disposal, general maintenance etc. This allows you employees to focus their time on your business;
• Meeting rooms, food and beverage services are managed by provider;
• Free parking. Parking costs can be significant in cities. Business centres may provide free parking, saving you money and also time looking for a parking space.

On initial deliberation, the monthly cost of a serviced office may seem expensive but considering the above items, it is often far greater value for money, with the very real benefit of total flexibility.

At Acorn Business Centre we can provide workspace, meeting rooms or virtual services, adapting as your business model changes. Our flexible work space and meeting facilities enable your staff to work and collaborate in a shared environment.

Interested? Contact us: Phone: 021 453 6199. Email: info@acornbusinesscentre.ie