Owned Offices vs Serviced Offices

Whether you’re a well-established corporate or a high-energy startup, finding the right office space to match your needs is a challenge that all companies share. And as we move into a post-COVID world, it’s becoming increasingly unclear exactly what sort of office space, if any, companies should be looking for. 

Luckily, Ashlar are here to help. We’re going to be breaking down the key benefits of owning an office vs renting a serviced office, so you’re armed with the right knowledge to navigate the uncharted territory ahead. 

Owned Offices

If you know that you’re here for good, then buying or leasing an office might be the play for your business. After all, while mobility is nice, moving to new offices can be a real logistical headache, and it can be difficult for customers and clients that visit your office regularly too. 

Here are some further benefits of owning an office:

• Long-term savings: Sure, a serviced office might be cheaper in the short term, but rent can really stack up over the course of years. That’s why, if you have the capital available and decide to buy or lease an office, you will end up saving a great deal of money in the long run.
• A sense of ownership: When you buy or lease an office, the sense of ownership you get from this shouldn’t be understated. It can help your employees feel at home, and provides your company with a solid base that you can really stamp your mark on. If you feel as though your company culture could benefit from this sort of grounding, a conventional office could be for you.
• Bespoke to you: If your office is truly yours, this allows you to set it up in any way you see fit. Want a hi-tech games room for your employees to chill out in? Sure. Think meeting rooms full of plant life will nail the vibe? Go for it.
• A demonstration of success: If owning an office demonstrates one thing to your clients, it’s that you’re a company with a track record of success. This will make your clients feel much more secure in working with you, and you can be safe in the knowledge knowing no neighbouring companies will be trying to poach your clients!

Serviced Offices

The popularity of serviced offices has risen dramatically in recent years, and with remote working becoming increasingly more common post lockdown, we believe this popularity will continue to soar. 

Serviced offices are perfect for small startups and sole traders that want to get a business moving with far fewer strings attached. No nasty surprises to watch out for in a lease, just simplicity and flexibility. 

Let’s take a deeper look:

• Speed:  No need for lawyers, negotiations, long meetings, or any other technical headaches. With a serviced office, you can get your business set up and functioning in a matter of days.
• Flexibility: Serviced offices tend to charge businesses on a per-person, per-day rate and rarely need much notice if you want to leave. This is the sort of flexibility that young startups crave. Whether you’ve outgrown the space or you just need time to rethink your strategy, you can quickly jump ship at any time you like.
• Facilities at the ready: Most serviced offices will have facilities there waiting for you, so you don’t have to worry about setting up wifi, phone lines, or even desks. Serviced offices truly offer a seamless get-up-and-go solution for businesses that don’t want to waste any time.
• Social: One of the key aspects of serviced offices is you might not be alone in there. In fact that could be around a dozen companies all working under one roof with no real lines between them. This can be great for young staff to get to know more people, and it could even end up leading to collaborative business opportunities – you never know!

Conclusion

Whether renting a serviced office or leasing an office is right for you will depend on what stage your company is at. Are you a young startup looking for a no-strings solution? Go for a serviced office. Are you a well-established company with lots of employees? Perhaps it’s time to settle down in your own, fully-bespoke office. 

We’re Ashlar – a full-service fit out company based in Nottingham that offers a complete package. From design right through to completion, we will work with you every step of the way to create an office space that’s perfect for you and your business. Want to hear more? We’d love to chat – all you have to do is get in touch.