With a name like "executive suites," you might think these office spaces come with an executive price tag to match, but nothing could be farther from the truth. In reality, when you share facilities, like meeting rooms, kitchens, and corridors, you don’t need to include them in your total space needs, and that means a smaller office space for you. A smaller office means a smaller rent due at the end of the month, and that means you’ll save money when you rent or lease an executive suite.
Just what is an executive suite? An executive suite is usually located in a typical office complex, but the offices are all connected by corridors in common, and there are communal areas like kitchens, meeting rooms, and restrooms that each executive suite can use. Usually they provide a main receptionist who takes phone calls for the tenants, distributes their mail, and acts as an administrative assistant, too. Some suites provide places for virtual office workers to meet clients and pick up their mail, but with no actual workspace. Executive suites are much cheaper than traditional office spaces because you only pay for the space you need, and you pay for other services as you need them. For example, you probably don’t need a meeting room every day, so you save money because you only pay for it when you need to use it.
That’s just one way you save money with executive suites. In traditional office space, there are all sorts of start-up costs, such as installing Internet, telephone lines, dropping cables for computer connections, buying office furniture, and more. You also have to worry about cleaning and maintenance, since most office spaces don’t provide these with the cost of the lease. All these are included in an executive suite, so you can just move in and start working (and saving) immediately.
Another plus is that most executive suites offer much shorter lease periods, which is a boon to new entrepreneurs who need professional space but don’t know about the long term commitment of their business. If your business is going to grow quickly, a shorter lease period is also a big plus for you (though in this economy you might get a good deal on a longer contract).
If location is important to you, executive suites are often located near transportation hubs, like airports or industrial areas. If your business is often on the go, this can save you time and money on transportation costs.
If you need other services, like postal forwarding, telephone answering services, shipping and receiving, and other business services, most executive suites have a list of contacts that can help you find what you need. Many often provide little perks, too, like free coffee and tea for you and your clients.
Executive suites help you save money if your business is expanding, too. If you want to expand to another city, consider opening an executive suite office there first, to test the waters. Because of short lease requirements, you can open your satellite office quickly and easily, and test the market before you commit to a larger, more expensive traditional office space.
Executive suites are a great alternative for all kinds of businesses. They save money, they’re efficient, they take the installation and maintenance out of your business, they can even serve the virtual professional, and they give you more flexibility with short lease terms and their location. You only pay for the office space you need, and they are the perfect choice for businesses hoping to expand into other locations. Executive suites provide an excellent alternative to traditional office space, and they make sense for just about any business or industry.
Joe Lewis has more than 20 years experience in the commercial property industry and nearly 10 year experience brokering executive suites. He is an expert on getting the best deals for clients on executive suites (serviced offices) and understand the world market as a whole.
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