Leased Offices Versus Serviced Offices – Which one is Right for You?

Your business is growing and along with it is your requirement for space – the classier the better! There are two big options right in front of you, either you spend on leasing your own office space or get a serviced office where you won’t have to worry about the overheads. Unsurprisingly, this is a difficult decision to make for any business owner and you don’t want to regret making the wrong one.

If you are regularly holding meetings with your vertical heads just to arrive at a conclusion here’re some of the points for you to ponder over:

Your Budget

Now this is basic stuff – whatever is your decision, your company’s finances have to balance out with it. Although, the monthly rent for a raw space would appear to be great to start with, consider spending a fortune in furnishing all that space and on a large conference room and some meeting rooms, which you know you won’t be using regularly. But hey, you cannot have unfurnished rooms within your premises; that just doesn’t look cool. On top of it, you’ll have to set up the IT infrastructure, ancillary services, front office, a reception and other support functions. Now add up all these costs and see if the figures still look just as good.

On the flip side of the coin, there are serviced offices, as the ones offered by smartworks in 7 Indian cities. They’re cool to begin with, are furnished to perfection and are completely customizable so you won’t have to live by someone else’s take on design and office furnishing. Moreover, once you move, smartworks would take care of all overheads while giving you enough liberty to get working from the first day itself. All this happens at a price that seems too good to be true. You don’t need a conference room? Sure, don’t pay for it. You need it only on a few days? Sure, pay for it only for those days.

Your growth trajectory

A conventional leased office space might seem like a cheaper option on a per desk basis – but it only makes any sense if you’re not planning on expanding your business or are already leasing a space much bigger than your current needs. Both these options leave a lot to be thought about; you might expand at a rate less or more than you expected and in both these cases you will have to rework on your initial planning.

Conversely, serviced offices are all about convenience, future-readiness and affordability. Once you’re signed up with them, you’re free to expand as quickly as you want without worrying about space or infrastructure constraints. Some operators, like smartworks, have presence in multiple cities in India, enabling you to have satellite offices across the country, and maintain the same work environment throughout.

Your brand’s image

It goes without saying that you need an office space that serves as an extension of your business’ culture and ethos. While at first glance, a raw leased office space might serve as a perfect canvas where you can paint pretty much anything, a customizable serviced office space is actually a lot better. With a serviced office space, you’ll get all the space and facilities that you need, enabling you to create a slick presentation in front of your clients without actually worrying about the overheads involved.

The Decision

All in all, the choice really depends on your budget, current needs and future projections. However, basis the ever changing needs and demands of the present day entrepreneur, serviced office spaces, as the ones offered by smartworks, are far better as they give you all the flexibility you need to run your business the way you want without spending most of your time managing your office space. After all, you already have a lot more to focus on.

Gaurav Bisht

Blogger by profession and a writer by heart. I work from a coworking space and love writing about Coworking Industry in Coworking India Magazine