Operating expenses, including rent, are expenses that are often hard to justify when running a small business. But before ruling out a serviced office option because of its price tag, make sure to consider the following.
A serviced office offers incomparable flexibility that allows you to scale your business up and down and to only pay for what your use. A regular office will have you locked in a contract for years on end regardless of your business activity, and you will have to pay for IT and communication infrastructure, decoration and furniture, plants rental, maintenance and utilities on top of the rent.
STAY NIMBLE WITH SHORT TERM LEASE AGREEMENTS
According to the Australian Bureau of Statistics, close to 40% of small businesses do not survive their first 4 years, so locking yourself in a contract at the early stage of your business might not be the best idea. A business that fails is a business that fails to pay its bills or worse, employees. The ability to turn around and cut the fat overnight can be a matter of life and death for your business.
With a serviced office you only pay for what you use. Get a serviced office and you can scale up and down your business at will or even switch to a virtual office to dramatically reduce overheads while keeping a professional image*.
ON DEMAND, STATE OF THE ART FACILITIES
Beside a desk, a chair and meeting rooms, you should have access to (at minimum!) a kitchenette, a coffee machine and copiers. Say bye to housekeeping and garbage collection fees too, it’s all taken care of. At Excen we even have a Senior manager that deals with facilities issues immediately and you can even access the office facilities 24/7 so you decide when to do business. Excen residents can access meeting rooms for free while casuals and virtual officers can rent them on a per hour, half day or full day and longer basis.
Check out our newly renovated Crows Nest serviced office on our facebook page, or come by and see for yourself how pleasant it is!
BREAK INTO NEW MARKETS
A serviced office is a great option if you are looking to expand your business to new markets while keeping investment to a minimum. You can open “branches” pretty much anywhere without the associated operational costs. If you want to test the Sydney market, beware of CBD locations when choosing your serviced office. Depending on your activities, it could make more sense for you to set up office up north or down south of the city. Excen serviced office is located in Sydney North in the heart of Crows Nest, away from the overpriced, overcrowded and overrated Sydney CBD but close enough to get there in a 25 min train ride from St Leonards Station.
MOVE IN, IN THE BLINK OF AN EYE
There nothing easier than moving to a serviced office as compared to a commercial office rental.
You basically just come in and start working, dramatically reducing downtime associated with moving premises. No need to spend hours on end with your internet and phone provider to install equipment and make things work, you can start working from day 1 as if nothing happened.
MAINTENANCE AND UTILITIES ARE INCLUDED
With renting your own office comes the responsibility of maintaining the space. Unless you are a professional handyman yourself, you will need to hire people to conduct the due maintenance. That’s an overhead you won’t see coming when you first move in. Not even mentioning the maintenance that your landlord is supposed to do but fails to complete, eating your time and challenging your sanity chasing it up.
On the other end, a serviced office rental include all maintenance, giving you peace of mind, more time to focus on running your business and allowing you to gain more control over your cash flow.
Often overlooked, electricity, phone and internet end up taking a heavy toll of your budget. Especially here in Sydney, Australia where temperatures regularly reach beyond 30 degree Celsius, air conditioning is running non-stop. Unlike commercial spaces, all these are included in your serviced office rental.
Before you take a decision and commit to either solution, look at the big picture and make sure factored everything in. A serviced office space may end up being cheaper than a commercial office space, with additional benefits such as the ability the scale your business up and down at will. Adaptability and flexibility surely will help your business thrive and make your cash flow forecasts more reliable.
Are you working from home in Neutral Bay, Mosman, Chatswood or nearby and ready to make the move to serviced office? Book a visit to one of our serviced offices in Crows Nest and discover the flexibility and benefits of working from a serviced office with Excen.