Feb 20, 2020 Blogs Co-working space

Serviced Offices – How Much Do They Save On Costs?

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With many businesses – both small and large, turning to Serviced Offices or Business Centres lately, it’s a no-brainer that the concept makes financial sense for enterprises in today’s times. The decision to move into an office brings with it a variety of expenses – on furnishing, maintenance, small modifications, and recurring costs like rent.

On the other hand, with a serviced office, an organization doesn’t have to deal with such minute and frankly avoidable expenses. Instead, organizations can choose to simply pay for the space they use, which is an all-inclusive figure consisting of the many add-ons they may require. Serviced offices can help organizations save a fortune that would otherwise be spent inevitably in a traditional office. There are multiple aspects where the cost advantages of a serviced office are highlighted. Let’s take a deeper dive into a few:

1.    Only pay for what you use

In a traditional office setup, conditions can be quite dynamic, directly impacting the expenses as they fluctuate. In a serviced office acquired on a contract, however, this is something to not worry about, as the maintenance charges, the utility charges, and the fees are fixed before entering into a contract with the provider. By paying only for the workspaces and rooms for a certain duration, organizations enjoy much more certainty on their costs, whilst also paying significantly lower than a privately managed office. After all, facilities like break rooms, meeting rooms and toilets remain communal and are shared by different clients.

2.    Reduced staffing costs

An office requires a range of support staff in one form or another, including receptionists, assistants, and clerical staff. On paper, this translates to funds spent on wages. Managed offices not only lower these costs by sharing them across multiple clients, but they also help avoid overheads on recruiting and managing this support staff. As a result, organizations have a cheaper and budget-friendly option on their table, with no compromise on quality.

3.    Serviced offices are dynamic

While running an office, several factors may cause a company to introduce cutbacks, downsizing and even expand. When working out of a rented/leased office, situations like these even put a strain on performance, with significant time and resources consumed in adjusting to such changes, some of which also include moving to another larger/smaller space depending on the requirements. In the case of a serviced office, Hyderabad, these situations barely hinder the usual flow as the workplace itself is dynamic and can allow changes flexibly. Some serviced offices even offer options to expand or cut back on space requirements at very short notices.

4.    Furnishing and equipment

Of course, the costs do not stop at buying or leasing your office and moving in. The initial investments are followed by the need to furnish, buy essential equipment – printers, computers, coffee machines, projectors, etc – the costs of which could quickly add up to become another large investment of over ₹6,00,000 for an average-sized office in India. On the other hand, the serviced office provides all of these facilities from high-speed internet connectivity to meeting rooms which are all included in the package.

In the context of all these aspects, it’s fairly easy to infer that serviced offices are designed to save costs. The concept is proving to be immensely useful for large corporations as well as up and coming startups. iKeva has several spaces in all the major cities in India which provide low-cost packages for small to large groups with state-of-the-art facilities.

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