On the face of it, the cost of some serviced offices might seem to be higher when compared to traditional office space (on a square foot basis). However when you factor in the savings from having no additional expenses and combine it with the flexibility of shorter lease commitments and the fact that most serviced offices are already furnished, it can work out to be much more cost effective.
Another factor to consider for serviced offices is that most serviced office providers offer a standardised agreenent. These standardised agreements are typically more simplified than traditional leases meaning that the agreements can be completed quicker and often do not require solicitors to review thus reducing costs. The flexible terms also mean that companies don’t pay for space they don’t need, as they are free scale up only when they have a requirement for additional space.
Serviced offices either charge a flat fee for a desk per month, or a fee per-square-foot/per office. Renting desks is a better fit for small business, while renting per office or per-square-foot is more suitable for businesses that have a large number of staff.