If you are looking to start or expand your business, one of the things that you should be thinking about is finding an office space that will suit your needs. There are several types of offices that you can choose from.
Mostly your choice will depend on the amount of money you are willing to spend, the number of employees and equipment you have, the utilities and services available and the location.
So what is an Executive Suite? An Executive Suite is one of the best options you have which will allow you to set up or expand your business in the United States very quickly. In the UK, an Executive Suite is commonly known as a Serviced Office.
When you rent an executive suite, you’re not simply paying for space, you also pay for everything else you need in order to run an office. You don’t need to fuss about the utilities, housekeeping, security and other issues that are not directly related to your business.
With an Executive Suite, all you need to do is to show up at the office and only work on the things that really matter to your business.
What other things do you actually pay for aside from the rent when you get an Executive Suite?
(1) General and Administrative Expense
The cost of items that are not directly related to the service or product that you provide are called general and administrative expenses. When you rent an Executive Suite, taking care of these things will be the responsibility of the office management company that is leasing you the space.
They will take care of getting in touch with the electricity, water, telephone companies along with any other facilities that you might need and in most cases your rent will cover payment for these items.
A receptionist might be available to take care of your calls and if needed a secretary can also be provided for you. The salaries for the receptionist, secretary and any other support staff also falls under general and administrative expenses.
(2) Security, Maintenance and Janitorial fees
You don’t need to worry about hiring and paying someone who will keep your office tidy and presentable and will make sure that there are no leaks or problems in the conference room because these services are also covered.
The building management will ensure your safety by providing a reliable security service.
(3) Office Amenities
A fully stocked pantry, a well-equipped meeting room, a reliable and fast internet connection, and round-the-clock access to your office are just some of the amenities covered by the monthly charges.
Benefits of Choosing an Executive Suite
When you choose to rent a traditional office space, setting it up will take a lot of time and money. You have to meet with service providers, hire people to run the office, train them and take care of meeting all other associated expenses.
These tasks can overwhelm anyone and make you lose your focus on what you really need to do. To save yourself from all this trouble, choose a serviced office or an executive suite instead. Getting set up in an Executive Suite is fast and easy and you can usually move in the next day after signing the lease.
Executive Suites are typically located in prime business areas and have prestigious addresses. An address in one of the more prominent parts of the city can do wonders for any organisation. These locations are easily accessible which is very important if you have several clients coming in to visit you throughout the day.
Executive suites also have shorter contracts which can make your expenses more manageable. You don’t need to worry about long-term contracts that could hold you down especially those that charge hefty penalties when you can’t see the contract period through.
Upgrading and downgrading your office according to your need is also easier when you choose an Executive Suite. These flexible terms are really a plus for startups and small businesses that are still trying to test the waters.
Mingling with other companies who share the building opens up a lot of opportunities to form connections and get support. Networking is important in business and being in the same environment as other respectable companies could inspire and positively impact you and your employees.
How does an Executive Suite differ from a Co-working Space?
A co-working space is a place where you can share office space with other individuals who work independently from each other while an executive suite is a collection of offices or workstations for one company.
A co-working space is more suited if you only have one or two employees, or if you are on a business trip to another city and your company doesn’t have an office in that area but you need a place to work.
Meanwhile, an executive suite is better suited if you have more people, equipment and tools that you need in order to operate. An executive suite is also advantageous when you need to bring in clients frequently.
Executive suites focus more on the facilities while co-working spaces are more about the community of individuals coming in together to collaborate and share inspiration. If you are looking for privacy, choose an executive suite instead of working in a coworking space where nothing is really tied down to a single user.
Have you made up your mind about finding the right executive space for your business? Whether you need a small private office good for 5 people or a big space for more than a hundred employees, we can help you find a dedicated space that will meet all of your needs.
We are global experts and can help you find your ideal office in any location. Make an enquiry now using the Quick Quote button at the top of the page.