Are you considering flexible office space for your business? If so, you're not alone. With more and more businesses embracing an agile working model, the demand for flexible office space continues to grow.
But what is flexible office space, and what are the different options available to businesses? This blog post answers the key questions associated with flexible workspace, and how to decide which is the best option for you and your team.
What is flexible office space?
Flexible office space is termed as such due to the agile lease lengths offered with the majority of options. Whereas traditional office space would usually require a commitment of 5-10 years, flexible workspace options are available to businesses for shorter periods of time. This flexibility makes it an attractive option for scaling businesses that may outgrow their workspace relatively quickly.
With the impact of the pandemic still felt by many businesses, the demand for flexible office space has grown as those businesses look for ways to reduce their overhead costs and meet the new expectations of the workforce.
What are the different types of flexible workspace?
There are two main options for businesses looking to move into flexible workspace – a serviced office or a managed solution. The key difference between the two is the control that tenants have over their space, including the ability to customise the design and make changes to the layout which is only permitted in a managed office.
Managed and serviced options both have their own benefits – it really depends on what stage your business is at and what you feel is the right fit for your team.
What are the benefits of flexible office space for businesses?
Flexible office space provides companies with the agility they need in order to stay competitive in today's marketplace. Businesses can scale up or down as needed, which gives them more flexibility when it comes to managing their space needs.
This could be scaling businesses with plans to grow their headcount in the next couple of years, or more established businesses looking to create distributed HQs for project teams in different locations.
Managed for you
Unlike traditional offices, which are usually managed by the company itself, flexible office space is typically managed by a third-party operator. Put simply, this means that tenants don't have to worry about day-to-day maintenance and management tasks - they can simply focus on running their business.
Quick move-in time
Tenants looking for a flexible workspace will also benefit from a quicker turnaround when it comes to moving in. The amount of time taken will depend on how bespoke the business's design needs are, but it's typically a faster process than you would expect with a traditional office space.
Cash flow control
Flexible office providers typically charge an all-inclusive monthly fee that covers rent, utilities, and other common expenses. This set fee gives businesses much greater control over their cash flow because they can budget for a fixed amount each month.
This is in contrast to traditional office leases, where businesses often have to pay separate bills for rent, utilities, and other services. Additionally, with a flexible office solution, businesses can avoid the hassle and expense of dealing with multiple service providers.
How to choose the right type of office for your business
With an increase in the demand for flexible working over the last few years, choosing the right type of office space, even knowing how much space you need, can be a little tricky. There are a few things to consider before beginning your search, including:
- Your location requirements
- Your business's growth plans
- How your teams like to work
- Whether you want to share communal areas
- If you want to manage the space or have someone manage it for you
- Which amenities and services are essential for your employees
- Whether you want to brand the space or not
There are, of course, lots of other factors, but treat the points above as questions to ask yourself and other key stakeholders at the beginning of the process.
Considering a managed office?
A managed office space can be an excellent option for companies who are looking for a place to call their own and want the flexibility to grow and change as their needs require.
At Kitt, we take care of everything for you - from finding the perfect space to setting it up and managing it once you're in the door. If you want to find out how a managed office can work for your business, get in touch with the team below or visit the How Kitt Works page to find out more.