Leased Vs Serviced office, which office setup is ideal for the productivity, growth, and expansion of your business?
Let us settle the debate today.
What are the factors that influence your decision?
Without focusing on the following areas, you will probably make a less thorough decision.
Business Age
If you are starting out, think about what is more logical. Spending time finding offices with ideal working environments and spending a bunch of time finding affordable leases and hiring legal agents to help the process? Or, immediately switching to a coworking hub, which usually comes at a reasonable price and wherein most of your basic office administration is in the hands of your hosts?
Talking about startups, they need to focus on the absolute critical success areas in their initial days. If they waste time in unproductive tasks, they will lose out on the big opportunities, each of which is crucial at this time.
Also, the business environment perpetually undergoes change. And today, that change is insanely rapid. This means that quick change of workspaces does not apply to only startups but also just about any business which is growing rapidly.
Hence, coworking spaces specifically offer young businesses a win-win situation.
Expansion Plans
As discussed earlier, in a volatile business environment like that of today, it is unwise not to plan your expansion way ahead of time. Those who delay their expansion, find it difficult to survive in the market in the long run, let alone grow.
Hence, expansion is inevitable, paramount and most rapid. And you don’t want to be wasting any time in finding bigger offices at an affordable price.
You can simply switch to a coworking hub which will help you accommodate the abrupt increase in your employee strength, while you can focus on the managerial aspect, which is your priority now.
Budget
Conventional leases and coworking hubs are priced differently. Leases are offered on the basis of per square meter criteria, while coworking spaces charge per person. Given the benefits of getting rid of pesky administrative concerns and becoming more productive at the same time, you will realize coworking hubs are a lot more reasonable than conventional leases.
Lease duration
This, again, depends on your plans to expand. Say, you have the plan to expand within the next 6 months but are confined to a lease contract for one year. If you decide to leave sooner anyway(because expansion is crucial), what follows is a series of hassles like lawsuits and hiring legal agents and getting bogged down by the whole process. This takes a big toll on your business’s growth prospects, which is what you wanted to end the lease for.
Hence, indubitably, the Co-working trend is here to pick up, and the smart entrepreneurs know this is for all the good reasons!
Visit our space to get a feel of how your business can benefit from Coworking. We’ll be glad to help you with whatever you need!
