How To Choose an Office Space: Essential Tips

Your office isn’t just a place where you and your team meet each work day. It’s a thriving community where ideas are born, relationships between coworkers are built, and goals are achieved.

But did you know that prime-grade office space availability is decreasing, yet office space vacancy has increased to 10.2% in the UK? With rental figures on the rise, securing amazing office space in great locations is only becoming more challenging; that’s why flexible workspaces have become the go-to!

Now with the advent of flex space solutions, such as a virtual office, coworking space, and serviced office, there is an abundance of options to choose from.

Serviced offices are becoming a popular alternative to traditional offices due to their flexibility, making them a more cost-efficient option for businesses.

In fact, they are often referred to as flexible workspaces due to their short-term lease agreements and come fully equipped with the infrastructure businesses need, such as plenty of desk space, meeting room access, team support, and business-enhancing technology.

Finding the perfect office space is essential to you and your business, but how do you choose when many serviced office options are available? Let’s explore the key considerations when picking your new serviced office space.

Evaluate your business needs

Think of finding your ideal office space like solving a puzzle. Many pieces need to analysed before you can determine where it fits. The same applies to searching for a new office space.

Once all the pieces are put together, you’ll find you and your business in an environment where your ideas flourish, targets are reached and your vision becomes reality.

Before you start looking for available serviced offices, make a comprehensive list of must-haves, nice-to-haves, and don’t-needs and use these requirements as the basis for your search.

The answers to these questions will help you narrow down your vision for the optimal office space, making the search that much easier.

The needs of start-ups are very different from those of an established business with a steady number of employees, so taking the time to evaluate what you and your team need is critical before you hunt for your next office space.

In general, serviced offices are great for accommodating professionals or teams as your business grows. The ability to scale down or acquire more space is seamless with serviced offices because of its flexibility.

Weigh up the costs

Once you’ve decided what the business needs for the office, it’s time to consider budgets and how much you’re willing to spend. A key advantage to serviced offices is the flexibility of leasing the space on a monthly contract, avoiding the rigid, long-term commitment of traditional spaces, which are typically leased on a fixed rental contract.

Say you’re running a law firm looking to secure office space in West End London. Considering the average size of a private office and current rental rates, you can expect to pay anywhere between £20,250 and £47,250.

This isn’t inclusive of any outgoing or maintenance charges, and these costs can quickly become a burden. Meanwhile, a serviced office can be flexibly leased from £1,600 per month and this cost includes an extensive range of services to enhance your operations.

Think about the credibility, perception, and money you save as a small business trying to get your foot in the door! It’s a large opportunity for growing your business or finding an ideal solution to downsize.

Serviced offices can also save your business thousands of pounds depending on the amenities and facilities on offer. For example, if your provider offers IT support and/or secretarial and reception services, then you can save tens of thousands on employee costs.

Businesses also save on furniture, equipment, security, and cleaning costs when choosing to use a serviced office, depending on the resources your provider offers.

Even though they are a lot more budget-friendly, it is important to ensure that you’re fully aware of any potential hidden costs that could arise such as insurance, maintenance fees, or additional service charges.

Consider the location and its surroundings

 The location of your workspace matters, and it isn’t just a point on a map. There is an increasing amount of research that suggests that the location of your office space impacts brand image, with your business address playing a role in attracting new clients.

Having your workspace in major business centres, such as a major city or a commercial hub, is often seen as a huge advantage due to the increased visibility these areas offer and positively reflects on the reputation of the business. These benefits double if you’re on the fancy side of the town. Who doesn’t want to impress their clients by having an office in Mayfair Place, one of London’s most famous and affluent streets?

But your business’s whereabouts isn’t just about prestige. A well-connected office space with easy access to transport links, restaurants, shops, leisure and entertainment venues, parking and other facilities can make a significant difference to your business, from employee well-being to making the delivery of goods and services easier and being within close proximity to clients.

It’s also important to research what other businesses are nearby, as you may find it beneficial to be surrounded by enterprises specialising in a similar industry. Being surrounded by like-minded businesses can open up networking through industry gatherings and meetings, which can result in potential collaboration and partnership opportunities.

A great location is key to your company’s success, especially when you need an office space for a finance company or a law firm.

Analyse what services and facilities you need

Did you know the services and facilities are what put the “serviced” into the serviced office? These are the game-changing factors that help businesses across the globe grow.

As previously mentioned, serviced offices come with a range of resources and facilities, and these can vary widely depending on the service provider. By utilising the resources serviced office providers offer can bolster your business operations and boost your team’s productivity, as they no longer need to waste time on tasks that can be outsourced.

With more than 30% of businesses spending up to half of their week on administrative tasks, having team support for task delegation can be an exciting game changer.

One size certainly doesn’t fit all when it comes to company needs, so it's crucial to consider if you need a fully serviced space or only partial services. 

From evaluating your business needs to assessing the office facilities, every step counts when deciding to find your new workplace. Remember, the perfect office is not just about the four walls; it’s about creating an environment that fosters development, allows ideas to flourish and teammates to come together to ensure your business thrives.

You can also explore other flexible workspace solutions, such as a virtual office or coworking space. Alternative options like hot desking can also be considered for businesses of all sizes.

Check out workspaces for your small business.

People who read this article also read How Much Should You Pay For a Serviced Office in London.