‘Serviced offices’ and ‘managed offices’ are two terms that you would often come across when looking for a flexible workplace for your business. This article will serve to educate you on the difference between the two and help you determine which of them is better suited for your office needs.

Serviced Offices

Serviced offices are workplaces that can be rented on a flexible short-term basis, typically 1 to 12 months. They are designed to the specification of the workplace provider, and thus, may come with in-built facilities, including reception staff, office tools, and furniture as well as Wi-Fi. Tenants can simply turn up from day one and start working. You usually pay per desk rather than for the amount of space you occupy.

Advantages

Greater Flexibility

Since contracts tend to be much shorter, a serviced office grants a greater degree of flexibility to businesses with less predictable growth forecasts.

Convenience

You are already provided with everything you need out of an office, and little or no additional input is required. All costs are issued on one invoice, which makes accounting easier.

Disadvantages

Higher Costs

Being all-inclusive of amenities and premium services means that the overall cost is far greater as you are paying for the convenience of an office that is ready-made.

Limited Branding Opportunity

Since you don’t get much input in how the office space is designed, it limits branding opportunities.

Suited for:

Younger businesses and start-ups who stand to benefit from the flexibility and ease afforded by a serviced office space.

Managed Offices

A managed office is a ‘blank canvas’ office space in which the tenant is given full freedom to tailor the office to suit their preferences and requirements. Normally, the period of rent commitment for a managed office space tends to be longer than that of their serviced counterparts – 12 months being common. Paying for the amount of space you occupy is almost always the case with managed offices.

Advantages

Custom-Build to Your Needs

You can fully brand and customise the office interior from its designated spaces to its furniture to its wall art.

Exclusive

The rented space is exclusively yours, meaning facilities such as breakout areas and meeting rooms within the unit are only for the use of your staff and clients.

Disadvantages

Time-Intensive

It can take time to fully customise the office space, which can range from a few days to months.

Limit Networking Opportunities

Since it isn’t a shared space, networking opportunities for small and new businesses are greatly limited.

Suited for:

More established businesses looking for a longer-term office space arrangement that can be fully customised to suit their needs.

Looking for Office Space in London?

We can find you an office space that meets your requirements FREE of charge. Our network covers 99% of London, and we may also be able to negotiate discounts or rent-free periods with the landlord to help your business offset the cost of moving. Call us today on 020 3950 0797 or contact us online at https://www.futuresquared.co.uk/contact/.