Overheads aren’t much fun. They quickly escalate and it’s not long until they get out of control. For many office and logistics type businesses the overhead which really takes the biscuit is the premises.
What’s more, for the start-up, they are limiting. Choosing the right office space for now is unlikely to allow room for growth. Moving isn’t easy or quick. So how do you keep workspace overheads low, whilst allowing scope for the future?
The growth of flexible workspaces
A flexible workspace is an alternative to traditional office set-ups. The workspace is shared, often between different companies, or at least different teams. It is considerably more versatile than an old school set-up which allocates space on a more permanent basis.
This ‘flexispace’ includes all of the equipment a typical office environment needs. You’ll find the usual desks and chairs but also phone lines, internet connections, printers and more. It may also include meeting rooms and other office-style arrangements.
However, we’re also seeing growth in other types of flexispace. For example, you can now rent space in warehouses or workshops.
The theory behind flexispaces is cost-efficiency. Similar to hot desking and mobile working, flexible workspaces focus on what needs doing, rather than the space it’s done in. Workers use the space on an as needed basis.
The ability to respond to demand
Flexible workspaces are becoming quite a trend in 2018. It’s small business owners and start-ups that really benefit from this arrangement. The most likely reason for their popularity is that they allow businesses to flex according to fluctuations in demand.
In a wider context of economic uncertainty this suits a great number of entrepreneurs. Customers are more exacting and demanding so businesses need to be more responsive. Similarly, there are times when we need to breathe in and weather a downturn. Again, a flexible office space is more forgiving to your bottom line in these situations.
Landlords and how it works
There’s no escaping the fact that the cost of rent in cities like London is astronomical and often prohibitive to small business. Furthermore, with the rise of remote working capabilities it’s questionable whether premises in the capital and cities are actually needed on a continual basis, or even at all.
Flexible workspace could potentially be more profitable for landlords too. In essence they have more tenants, albeit on shorter terms. There is also the potential for truly filling space which has traditionally been harder to fill.
In the short-term you use only the space you need. For example, you may only need one desk space and access to typical office facilities and meeting rooms. Then, as you grow, you can expand within the space. If you outgrow your first flexispace you’re in the position of being able to grow gradually, even internationally this way.
Are you in need of a flexible workspace with controllable overheads? What are your solutions to your need for a flexible workspace? Leave your comments in the section below!