How can opting for a private office space help to cut costs?
Let’s not sugarcoat things: businesses have had a rough few years.
From Brexit to COVID-19, supply chain issues to the cost-of-living crisis, it seems that as one problem eases, another takes its place — a frustrating cycle that’s been tricky for even the most experienced businesses to manage.
It’s not all doom and gloom, though. Many resilient companies have successfully adapted to these challenges and are planning for future growth. Still, it’s unavoidable that running a business is becoming increasingly expensive, with rising inflation threatening to get in the way of progress. As a result, many business leaders are looking for ways to minimise operating costs, starting with streamlining their offices.
The rollout of remote working has allowed many organisations to remove or reduce their requirement for in-person workspaces in the post-pandemic world. But whilst this setup may have been well overdue for some, others have decided to return to the office more permanently to suit their needs.
Finding a private office space could be the ideal solution for business owners trying to strike the right balance between practicality and affordability in London. So, what exactly is a private office, and how could it help save your business money?
The best of both worlds
Whether you’re setting up your first physical office space, downsizing or seeking more room to grow your operations, moving to a new office can help take your business to the next level.
But when you add up the cost of renting, heating, maintaining and equipping your own facilities, opting for a traditional office can get very expensive very quickly — especially in the capital, where running costs are particularly high. Alternatively, a private office space can provide many of the same benefits for a fraction of the cost.
Private offices are usually found in shared office buildings, offering exclusive day-to-day access and management services in one short-term package deal. This type of arrangement is a great cost-effective option for small to medium-sized enterprises (SMEs), allowing employees to enjoy the convenience of a private workspace and the social side of working surrounded by other businesses.
Most importantly, these office spaces come with several money-saving advantages that can make all the difference if you’re trying to keep your organisation’s expenses down…
Outdated equipment can rack up energy bills, slow down operations and taint clients’ impression of your company — factors that are sure to cause concerns for any savvy business owner.
From energy-efficient lighting to ergonomic furniture and high-speed internet, you can rest assured that private office facilities have been purpose-built and meet every safety and efficiency standard. Many private office spaces are also equipped with the latest technology, allowing staff to produce higher-quality work with fewer interruptions — without you having to cover the upfront installation costs.
Although many employees thrive in a coworking setting, one recent survey found that 79% of UK employees wish their working spaces were quieter. However, you don’t have to miss out on the cost advantages of a shared office to gain some peace and quiet.
Private offices are ideal for businesses that can’t always work effectively in a bustling work environment but would benefit from the flexibility that a fully managed shared office provides. Taking on a private office space ensures your staff have somewhere to go when they want to knuckle down whilst accommodating that all-important collaboration with access to shared meeting rooms and breakout spaces.
Lower overhead costs
Kitting out a new office from scratch and then keeping up with rent and building management can quickly snowball into a financial burden. When you opt for a private office, you get all the perks of a ready-made professional workspace without the initial payout.
You’ll get all the privacy and personalisation that comes with having your own office without worrying about covering additional costs like printing or maintenance; every service is included in one fixed price. Not only can this arrangement save you valuable time and money, but it can also allow you to budget more accurately with no nasty surprises. A win-win!
The Brew grows with you
Finding the right base for your business is no easy feat. Fortunately, we’re here to offer a hassle-free solution.
The Brew operates several coworking spaces in Shoreditch, offering a coveted east London postcode for an affordable monthly rate. We welcome private office bookings, with stylish facilities that provide instant and tailormade access to state-of-the-art spaces ideally suited to a more flexible way of working.
Our lockable private offices come with a host of benefits, including unlimited 24/7 access, responsive customer service, private concierge and much more. All our locations have bike storage to make commuting cheaper (and greener) for employees, complimentary refreshments and all the creature comforts you could want in a modern office — all without committing to a lengthy contract.