There are coworking hotels. Then, there are coliving spaces, and among these newer versions of the coworking space, there are variations that dot the Singaporean landscape offering professionals standard office space with a range of amenities.
Coworking in Singapore makes this workstyle very inviting, but while it might be natural to jump right in there and join a popular space, there are a few considerations businesses should take before moving into a coworking lease. A Servcorp coworking space, for example, presents businesses with a few plans and many which can be customised to your business’s needs. Even with so many options, if you are looking to trade your conventional lease for a Servcorp one, considerations related to business size, location, and projected growth, among others, are all important.
Let’s take a closer look at what you need to consider before moving to a Servcorp lease.
Lease Length
The benefit to trading in a protracted lease for a Servcorp one is that the latter allows your business a little more leeway, as the contracts are month-to-month. This benefits the business because it provides you with more leeway in relocating and scaling up or down. The only way that a conventional lease would be a better choice, however, is if the location was great for business and whether the rent was worth the value. In some cases, renters might be able to get a great deal on a lease when the commit to a longer term. Those businesses considering moving to Servcorp will definitely snag a great deal on office space in a prime location, but when weighing both options, consider which one provides the greater value to your business in the long run.
Fine Details
Pay attention to the details regardless of the agreement in which you are entering. However, if considering moving to a Servcorp office, review the terms to make sure you understand the amenities that come with these plans. In many cases, each plan offers renters a variety of options, but then if you go beyond the limited number of uses, then there is a charge. For example, Servcorp coworking typically gives renters two vouchers to use per month in any global location. However, prospective renters should ask what types of facilities these vouchers apply to, as to avoid reserving space and then being charged later.
Location
Location is always a concern when relocating. When considering a relocating to a Servcorp, pay attention to office locations. While Servcorp has global locations, there are a few cities that only fit out space in one building in the city. When looking to relocate, make sure that your business can benefit from being in the location. Even though Servcorp buildings tend to be centrally-located and are a great deal for this value, your business might need to be located in a specific area.
Business Size
Business size is always a consideration when relocating. Furthermore, Servcorp can easily assist you in determining what office space style is appropriate for your business. Typically, coworking spaces work for smaller businesses and start-ups just because they have the office equipment and amenities that can fit out these types of businesses without making it awkward for others in the space.
Projected Growth
While it is difficult for new businesses to project growth until a year, older businesses have an idea of their projected growth. When relocating, for better logistics, it is good to have an idea of the amount of space you might need. The great quality about Servcorp is that its scalability can fit out your business, regardless of its size.
The Few, But Important, Details
There are benefits to leasing conventionally and through a serviced office. While you skip out on the privacy and exclusivity of leasing a private office, the serviced office can provide your business with more value for your dollar. The Servcorp lease, however, provides you with incredible flexibility that is unparalleled by any conventional lease.
