There's no single workspace solution that can suit all business types and needs. For some companies, settling in a traditional office space seems to be the best choice for investment and their business plans. Other businesses that aren't in a stable position yet to predict the future of their company may opt for a serviced office solution. Here are the features and benefits of traditional office spaces and serviced office packages to find out which option will best suit the core business needs and other requirements.
Established businesses or companies with more predictable growth may be better off investing in a traditional office space that can provide them with a permanent headquarters or main site of operations.
The lease for a serviced office can last for a few months, while traditional offices typically require long-term leases that last for years. Businesses that want to test the waters or in a stage where growth and returns on investment are uncertain may find a better workplace solution in a serviced office because of its manageable monthly payment plans that cover the facilities and other services such as cleaning, equipment, and maintenance. Established businesses or companies with more predictable growth may be better off investing in a traditional office space that can provide them with a permanent headquarters or main site of operations, with their own equipment and facilities as part of the company's long-term investments.
Serviced offices come fully furnished with standard office fit-outs and the much-needed modern business amenities such as advanced IT infrastructure and telecom systems.
Facilities and services
Serviced offices come fully furnished with standard office fit-outs and the much-needed modern business amenities such as advanced IT infrastructure and telecom systems. Access to conference rooms and meeting areas with complete facilities and equipment is also provided. Tenants can pay for the use of various facilities in the office according to their needs, which gives them more flexibility in terms of operational cost. Secretarial services and admin support may also be offered as part of the package. In a conventional office space, the tenant will have to hire its own team or firm for the office design and layout. It'll have to procure its own equipment and provide various facilities and amenities for the business and its employees. As such, tenants can't move in immediately to the new office until the entire setup is finished. While the construction and design of the traditional office may come at a higher cost, this can be a long-term investment for a growing business or established company that wants to define its own culture and have a more customized workplace.
In a serviced office, the tenant wouldn't have to hire its own cleaning staff, property maintenance crew, and service personnel. Security is also provided round the clock with advanced systems and facilities. The management will handle everything as part of the service fee or monthly payment. In a traditional office space, the company would have to hire its own cleaning staff, security personnel, and maintenance crew or outsource these services. In effect, the tenant will have better control over the cleaning and maintenance of its workspace.
Traditional office spaces are best for: large businesses, more established companies, companies with definitive growth, businesses with stable capital for investments, tenants that can commit to a long-term contract
Serviced office solutions are best for: SMEs, startups, home-based businesses, businesses looking for a temporary workspace, global companies expanding in other locations, tenants looking for a more flexible lease terms.