The serviced office is a common feature of business districts across the UK, so you probably think you know everything about them, right?
In fact, there are still many myths around serviced offices - who they are for, where they are based, what they offer businesses.
These urban legends can lead firms to rule serviced offices out as an option when in fact they may provide the perfect conditions for growth.
Here are some of the most common myths about serviced offices – and the truth behind them.
Myth 1: Serviced offices are more expensive
When businesses try to compare like-with-like, they see the monthly cost of a conventional lease is cheaper than the monthly rent of a serviced office. But that is only half the story.
TRUTH: When you take up a serviced office the monthly cost is usually more expensive than a conventional lease. However, to accurately measure your monthly cost you need to look at the other things you spend money on – fit-out, rent, service charges, insurance, business rates, cleaning, water, electricity, reception services, even sundries like toilet roll!
A serviced office will include all of this
Myth 2: Location doesn’t matter to serviced office providers
When serviced offices first began to appear in the 1980s, they initially based themselves around slightly out-of-town business
TRUTH: As the serviced office sector has matured, it has established itself in the heart of every major business district and commercial
Ensuring our locations are at the
For businesses who need a visible presence but operate from home, act as sole traders or do not regularly receive client visits,
Myth 3: Serviced offices are only suitable for start-ups
While it's true to say that serviced offices are ideal for small businesses and start-ups, even freelancers looking for coworking space, to say that's all they are good for ignores the benefits of flexible office space.
TRUTH: Serviced offices are so much more than incubators for start-ups. They remove the need to predict what space you need as you grow by allowing you to increase your space as you require. As you grow, serviced offices also make the increase in working infrastructure more
Myth 4: They are only suitable for the short-term
The flexible nature of serviced offices is still, surprisingly, a commonly misunderstood concept. While there are no hard and fast figures on this, there are no shortage of blogs, advice columns and business ‘insights’ that only mention serviced offices in the same breath as ‘
TRUTH: Serviced offices are ideal for short-term office space. But they are also a great long-term solution. While leases may
It also gives you a safety net, if expansion hits an issue, so you can reduce your space and recover from a setback before rebuilding.
Myth 5: You can only access them at certain times
Once upon a time business
TRUTH: It's unusual to find a serviced office provider that doesn't give you access 24/7. They will either employ overnight staff or provide you with passcodes or security passes for entry. Buildings are monitored for security day and night but you, and any employees you grant access to can come and go as you please.
Myth 6: You can't add your brand personality to your office
Because of the potential for shorter-term leases with serviced offices, the idea persists that occupiers cannot
TRUTH: Serviced offices now occupy some of the most characterful buildings in the commercial districts of major cities, but that doesn't stop you adding your own
Myth 7: The hidden costs add up
This is a strange one because, in fact, it's a conventional office that comes with hidden extras as we looked at earlier in this blog. If you run a small or medium-sized business can you say with accuracy how much loo roll or coffee you use?
TRUTH: Different providers bundle different services in as part of your deal. For example,
Myth 8: There is no sense of community
Our final serviced office myth is that there is no sense of community between businesses in a serviced building. Why this has become a popular myth we aren’t sure but the truth is somewhat different.
TRUTH: Serviced offices often act as a hub for the local business community both internally and externally. Good serviced offices will have breakout areas, outdoor roof terraces