Serviced offices are known to be very convenient, flexible and cost-effective. That might explain why modern-day businesses are opting for serviced offices rather than the conventional office set up. However, how do serviced offices work? These offices are managed, equipped and furnished by an office provider who then puts the premises up for hire. You can acquire a rent office space start-up in Singapore depending on the needs of your business. Nonetheless, the success of your business is anchored on the location of the premises. This article highlights tips on how you can ascertain the right location for a serviced business office rental.
At the top of the list is security. Security determines the success of your business. An unsecured location will definitely be more prone and vulnerable to crime. Such a location is bound to attract higher insurance premiums, an aspect that is not healthy for a start-up business. This is why it is crucial to conduct some research on the area before making the decision to move into your preferred office space for lease.
2. Employment rate and skill base
If your business depends on skilled workers, the skill base of the area should be considered. Employees are the driving force behind any business. Hence, you should select an area that has adequate talent for the smooth running of your business. Information and details on employment rates can be found at recruitment agencies.
Accessibility is a key aspect in determining an ideal location for a business premise. The serviced office should be accessible to both your clients and employees. In addition, accessibility is exceptionally crucial if your business is reliant on regular deliveries.
Therefore, you should ensure that the location of your selected serviced office is based around major transport alternatives. Although offices at the commercialized areas tend to be costlier, they are worth the investment in the long run. Excellent transport links boost convenience, which is essential in day to day business operations.
Competition will either bring success or spell disaster for your business. Thus, it is essential for you to take note of the type of competitors in your area before selecting a suitable serviced office. If there is too much competition, it is highly advisable that you seek another spot.
5. Prevailing business rates
It is imperative to operate your business within your limits. Ultimately, in order for your business to gain profits, the revenues have to exceed expenditure. Therefore, you ought to find a location with maintenance costs that are economical. You will have to take everything into consideration. This includes taxes, utility bills and rental fees. Although a serviced office provider includes this in the rental cost, you have to ensure that your returns can cover the operational charges at the end of the day.
With the handy tips provided above, seeking an appropriate location for a serviced office should be effortless.
At GreenHub Singapore, we provide you with the necessary office space for lease based on your requirements. Our modern office space in a tranquil setting is highly suitable for business and creative purposes. We strive to cater to all of your needs, ensuring competent and memorable work experiences for you and your team.