Whether you are starting a business yourself or simply expanding your current workspace onto new horizons, selecting the right office space for you and your company is of paramount importance. Prior to the introduction of office space alternatives, deciding on an office space largely included leasing a property from a landlord and subsequently being left to your own devices.
Although leasehold office space is still an option for businesses looking for a new place to work; there are a couple of more flexible options now available. Co working office space in Liverpool and serviced office space in Liverpool are both immensely attractive options, particularly for smaller and start-up businesses. So, which is the best option for you?
What’s the difference?
The difference between the varying types of offices are quite distinctive, however those that have not been involved in working within them, may struggle to distinguish their contrasting characteristics.
Leasehold Office Space – Leasing office space usually involves finding an appropriate commercial office space and agreeing on a fixed contract with the landlord that owns the property. The leaser is then tasked with sourcing furniture, dealing with utilities and maintaining the overall functionality of the premises.
Serviced Office Space – A serviced office space in Liverpool is essentially a fully furnished, pay-as-you-use office space in any building that is managed by an operator. Operators will rent out anything from single desks to entire floors for those interested.
Co Working Office Space – Differently, co-working office in Liverpool space provides maximum professional freedom. Co-working in Liverpool allows for individuals, and teams alike, to share workspaces with those of differing industries for a cost-effective fee with flexible contracts.
Leasehold Office Space
Control – One of the primary benefits to opting for a more traditional leasehold is the control you have over the property you are leasing. The design and layout of your office is entirely up to you. Everything from the amenities you use to the branding displayed around your office is your decision!
Longevity – Leasehold contracts usually last a minimum of 3 years and entering such an agreement gives your company a home for that amount of time. This will allow you to make long term decisions without worrying about your location.
Initial Outlay – If you opt for a leasehold office space, the start-up costs are going to be high; there is no getting around it. From purchasing the furniture to installing telecommunications; the bill is addressed to you. This also means that if there are any faults on the property, the responsibility also comes down to you. As a result, this doesn’t just have an effect on your initial outlay but also can provide hefty costs in the future.
Starting Up – As well as costing more than other flexible alternatives, leasing a property can take significantly longer to get business going. Once all the necessary equipment is purchased for the day-to-day running of your business further tasks need to be complete. You will likely be required to employ contractors and wait for them to install everything needed in your workplace. This will cost further capital, put back the start sate of your business and require logistical planning.
Flexibility – As you will likely be tied into quite a lengthy contract, regardless of how your company progresses over time, you will be unable to upgrade to a larger space or downsize your office space. For that reason, if you are unaware of how quickly your business is likely to grow in its infant years a leasehold office space may not be for you.
Serviced Office Space
Convenience- As all the infrastructure of your office has already been implemented in your Liverpool serviced office space, you will likely be able to start working just days after making the agreement. This allows you to concentrate on starting up the business itself, rather than the building you are in.
Flexibility – Serviced office spaces in Liverpool are much more flexible than leasehold office spaces as they do not tie you into lengthy contracts. As a result, if you expect to outgrow the work environment you currently need; serviced office space in Liverpool could be the perfect solution.
Cost – Opting with a serviced office in Liverpool is likely the cost-effective decision as you will be paying an all-inclusive cost for all your office space, utilities and facilities.
Control – Unfortunately, when serviced office space in Liverpool is concerned, you will not be able to alter communal areas as you will likely be sharing them with different companies. Also, spaces such as boardrooms can’t be customised as these areas will also be used by many.
Co Working Office Space
Price – Coworking office space is comfortably the cheapest option from the office spaces discussed in this blog. Coworking space in Liverpool offers all the benefits that serviced offices provide at a reduced cost.
Flexibility – Similar to serviced offices in Liverpool, coworking spaces can be used on a very flexible basis. When it comes to coworking spaces you can get you work done when it suits you, not the contract you agreed to!
Networking – One benefit of coworking space in Liverpool that is often overlooked is social networking it provides its users. Being surrounded by other like-minded individuals can go a long way to improving your productivity in the workplace. Freelancers that decide to work from home instead of using coworking office space in Liverpool can often be easily distracted with other on goings. This is not a problem in coworking spaces!
Privacy – With regard to coworking office space, there is little to no privacy. As a result, if yours is a company in which discretion of your work is a priority, this may not be the best option for you. If you would like to find out more about the Office Space in Liverpool offered by Signature Works, contact one of our experts today! Call 0151 558 1566 to find out more.