A serviced office is a commercial space outfitted with furnishings and equipment. Rather than the traditional method of a company moving into an office suite and having to furnish and equip it, as well as arrange for nightly cleaning, food delivery, supply stocking, insurance payments and the like, the space is serviced. The company pays a service to handle all of the operational details of a functioning, fully equipped office so that it can concentrate on running a business. Another key component of a serviced office is that the lease is flexible for the needs of the company.
Typical lease lengths for serviced offices tend to be a few months rather than the three, five or 10 years for traditional commercial space. Thinking of an "instant office" with flexible leasing terms is a good way of realizing what this type of arrangement includes. A company gets all the details of setting up a new office space done for them. Although businesses must pay for this service, they often do save money as there is no need to spend thousands of dollars on office furniture that includes cubicles and storage pieces.
Even the cost of furnishing a large boardroom with a table and chairs suitable for client meetings can be a major purchase. Getting all of the furnishings and equipment to use on their preferred lease schedule is another big benefit of a serviced office arrangement. If a company just needs the furnished space temporarily, there is no need to worry about whether the furnishings for that office will be suitable for the more permanent one.
The coverage of small details, such as making sure there is food stocked in the lunchroom and paper goods in the washrooms, is another pro of having a serviced office. The company makes choices and negotiates prices with a served office supplier once, then at most has the small task of writing a check once a month. Depending on the particular arrangement, the supplied services may include a computer system that meets the firm's exact requirements. Some serviced offices even include a receptionist or other administrative staff along with the reception supplies and furnishings.
The convenience of a serviced office can be particularly advantageous for a company with a global reach. Office heads transferring from another branch elsewhere in the world can relocate with minimal fuss and save their work time for concentrating on the business. Owners and top management often find purchasing a serviced office more cost effective than having their highly paid managers do the reorganization work. With office set-up and all related services handled by a supplier, the managers are free to do the tasks they were primarily paid to do, such as overseeing staff to increase the production of the company's goods or services.