Why serviced offices could be a solution to the cost of living crisis

It’s been a tough few years for businesses and it’s not looking as though it’ll get much easier soon. While the cost of living is going up for people individually, costs for businesses are rising just as rapidly – energy costs, labour costs, business rates and rent to name a few.

This is a time for businesses to identify ways to save costs, plan for a range of future scenarios and be as agile as possible. One answer that will help a business with all these tasks is to embrace flexible office space.

Lock in overheads
One of the overriding benefits of flexible office space is the ability to lock in business overheads. If a business signs a traditional lease for a fixed amount of space for a set number of years, that business will need to manage all utilities and service providers themselves. They will need to negotiate rent, when permitted at set intervals, and pay businesses rates – which are set to be reviewed in April 2023.

In contrast, a business using a serviced office signs up for a fixed fee. No matter how energy prices rise, or how the costs of waste collection or cleaning fluctuate, the business pays the same fee. This provides a low-risk option for businesses, as well as a fixed cost to cement into cashflow projections.

Often, the service charge offered to businesses provides the cost savings the flex office operator might have achieved through scale. It is far more cost effective for the operator to buy energy in bulk, for example, then pass on cost savings, compared to how a business would have to negotiate its own energy contract for each individual space.

Flexible approach
A second key benefit of choosing serviced office space is flexibility. A traditional lease might require a tenant to sign for three, five or even ten years, a commitment that is often extremely costly to break. In contrast, flexible office providers offer a range of options that allow a business to scale up, scale down or change location quickly.

This flexibility allows a business to home in on costs, and only use what it needs. If a business has too much permanent space, the costs of maintaining that space will be a drain on resources that could be deployed elsewhere. In contrast, not having enough space will be a cost in terms of staff morale and wellness.

Stress free solution
At Blueprint, we offer a range of spaces to suit each business and the ability to move space as required. You might need a private office that can house your team, or co-working space for team members when they need it. We can also give you the membership options you need – permanent, or a day pass? It’s up to you.

Against a business landscape that presents so many unknowns, any cost that can be fixed, predicated and amended if required is a bonus for the balance sheet. Serviced offices can give control to businesses when they most need it, as well as cost-effective solutions that allow everyone to focus on the more important task of running the business successfully.

Get in touch
For more information please get in touch.