Types of Offices
Where to Start
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Types of Offices you can have
If you are starting up as a small business, depending upon the type of business you are setting up and the size of your start-up capital, there are 4 different office types you can choose from:
- Traditional office space
- Virtual office
- Coworking facility
- Serviced office
Virtual Offices
Virtual office provides the services of an office without the actual physical office space. When you rent a virtual office you are in fact renting a selection of services which you can access while working at home. If done right it will give your clients the impression that you have a fully-fledged office of your own, when in reality you are simply hiring the bits you need for a fraction of the cost minus the business rates. You are not renting an actual office space to work in.
Services offered by virtual office providers can include:
A city centre postal address assigned to your business, plus mail handling services to forward post from there to your home.
Video conferencing capabilities.
A business phone number which forwards calls to your personal devices, and sometimes call answering/reception desk services.
Discounted access to professional meeting rooms.
Situations where virtual office is useful
You are too busy to manage your mails – If the nature of your work is such that you are always traveling.
You want to increase your brand visibility – Having an address in a city you want to start operating in or a high end premise will give the right impression to your potential clients.
You want to be more professional – Having an address that is clearly a business address gives your business much more credibility. Having an address that is clearly a business address gives your business much more credibility, often helping you win more customers.
You want to operate in a new country – If one of your business strategy is to have an international presence, then virtual office is the best option. You do not have to pay any expensive office rent.
You need it to register for products and services – Often, some businesses will require you to have a business address in order to sign up for particular products and services. If you want to become an agent, a distributor, country representative or a partner, most businesses will require a business address rather that home address.
The benefits of a virtual office
These are the benefits that a virtual office can offer you:
Professionalism – Professionals business address, a business phone number with a professional receptionist and a professional meeting space give the right impression,
Affordability – Virtual office cost much less than renting your own office. Virtual offices also significantly lower overheads and technology costs – making for a more cost-efficient solution to modern working.
Dedicated services – Most virtual offices come with services such as telephone answering, mail forwarding, video conferencing and meeting rooms.
Flexibility – You can work from anywhere and guarantees flexible working hours.
Increase Productivity – Less time spent commuting to an office especially in cities with heavy traffic.
A flexible workforce – Virtual offices are not strictly the domain of sole traders and lone entrepreneurs – it’s also possible to manage a team of remote workers through your virtual office
Coworking Facility
Coworking facility is when a variety of individuals and businesses share the same workspace. Often, a dedicated coworking space will consist of a large common area, filled with desks and seating in which different people and businesses will all work on their own projects under the same roof.
Coworking spaces also typically provide shared amenities, such as meeting rooms and kitchen facilities. Some also offer private, enclosed office spaces that businesses can hire out solely for their own use.
What are the benefits of coworking?
Coworking office spaces tend to provide everything you need to run a business smoothly, including:
- Speedy wifi
- Equipment such as printers and scanners
- Meeting compartments and conference rooms
- The potential to save on daily costs
Such as kitchen facilities, hot drinks like tea and coffee, and snacks like fruit, bread and biscuits – for free, meaning you can save on the cost of buying them yourself.
Much more flexible than leasing your own private space, meaning that it provides an excellent alternative while you are still establishing and growing your business.
You are likely to be surrounded by like-minded entrepreneurs who are starting, growing or running their own businesses. This create opportunities to swap advice, share experiences and collaborate on projects. Many coworking spaces organise free networking events and workshops for members.
Unlike traditional office blocks, lots of coworking spaces put design and atmosphere at the forefront. Many house sleek, modern, colourful and quirky furnishings and decor, making for a more stimulating and enjoyable workspace environment.
Larger facilities also tend to house cafes or lounges in which you can sit and work and hold meetings.
Serviced Office
The popularity of serviced offices is soaring across the world. Also known as managed offices or business centres, a serviced office is a workspace which in contrast to traditional conventional office space – comes ready-furnished, with internet and phone lines pre-connected and devices such as printers already equipped. When it comes to workspace for small businesses, the serviced office has become a popular choice. Sole-traders, start-ups and small businesses are increasingly choosing serviced offices when moving to a new workspace.
What is included
Serviced offices tend to offer in-house facilities and services including:
• Meeting rooms
• A reception team who’ll take calls and direct visiting clients on your business’ behalf
• In-office maintenance staff such as cleaners
Benefits of serviced offices
Serviced offices can accommodate growth
Most serviced office providers will happily facilitate the growth patterns of a start-up. These include more space, downsizing or storage facilities.
Serviced offices have no set up time
The fact that serviced offices come ready to go is a key selling point. With desks, tech and phone lines already set up, companies can get straight to business with minimal downtime on the day they move in.
Serviced offices come with useful services
The services provided in these spaces, from bookable meeting rooms to a manned reception making for an enticing offering.
Serviced offices can offer flexible lease agreements
The unpredictability of running a new business or freelance operation means serviced offices’ flexible lease agreements are a welcome offering. It prevents you from tying yourself into a year-long agreement while you are still working to establish the business.
Serviced office costs
A serviced office provider will typically charge a monthly fee per desk on a pay-as-you-go basis, and the amount will usually depend on:
- The size and quality of the space
- The services and facilities on offer to your business
- The city or town in which the building is located
- Whether or not the space is in a desirable part of the city.