Small office space: Get the most out of your budget
When you’re looking to rent small office space, you may well find some properties are tiny, uninspiring and closer to a broom cupboard than the office of your dreams. What’s more, if your business really takes off and you need to hire new staff you don’t want to be tied to a long lease in a tiny studio.
Of course there are many reasons why the traditional office let remains the most popular option and you can read about them in more depth in Office Genie’s guide to leased office space. However, there are some great alternatives out there which will allow you to enjoy a vibrant, flexible working environment suitable for a small venture on a budget. You can search them right here with Office Genie.
Shared offices: Flexible, hassle-free and great for startups
Desk rental can give you immediate access to a buzzing office environment that’s also really flexible. More and more businesses are renting out spare desk space in their offices, so there’s loads of space available for rent. They’re particularly abundant in London, so represent a great way for a small venture to get great value offices in the capital. Alternatively, they represent a great way for any business to get all-inclusive small office space in London.
It’s an easier life; your hosts are the ones who have to deal with all the hassle of things such as leases, paying utility bills and property management. Rental costs are normally all-inclusive; what you see is what you get. They’re not quite as cheap as traditional leases but the fact you don’t have to manage the office, and you can focus all your energy on your business, means shared offices can be fantastic value.
Factor in rolling month-to-month contracts, which mean you can generally get in and out of a shared office quickly, and you have a great option for small businesses - as long as you don’t have specific requirements for things such as security. You also might have the option to add extra desks as you go; giving you room to expand.
You should make sure you’re happy sending any sensitive data you may have through another business’ network though. Seeing as you’ll probably not be locking the offices at night, you’ll also need to be comfortable leaving any valuables behind. It is also definitely worth making sure you have your own contents insurance as you will generally not be covered by that of your host.
Serviced offices: Premium business centres
Serviced offices provide a flexible, all-inclusive, high-spec option for a business. Office space in these centres gives you, as well as the benefits of a shared office, access to some or all of the following facilities (and maybe a few more): post and phone receptions, executive meeting rooms and IT support. Some even offer premium services such as childcare. They’re great for a startup with a view to expansion they’ll give you the support and space you need to do so.
As with shared offices, you won’t get a huge amount of control over the office appearance and layout. However you may get some opportunity to change your space’s colour scheme to match your company colours or possibly add a logo.
Serviced offices can be invaluable if it suits you to have everything taken care of for a slightly higher price, meaning you can focus all your energy on your venture. Want to hear more? We’ve got an in-depth guide about serviced offices right here.
Space in your small offices to rent out? List it free on Office Genie
If shared and serviced offices don’t sound quite right for you, a really creative way to avoid the dreaded broom cupboard is to look at where you want to be in a few years time, lease your own larger space and put any spare desks up for rent.
Or if you’re in the unfortunate position of having to downsize, you could always stay put and make any unused space available to rent.
As well as the obvious financial benefits, you may find a few more faces bring some diversity and vibrancy to the office, which can only be a good thing! If you like the sound of this you can find out more about how to monetise your spare desks on Office Genie.