What is a Managed Office? A Guide to Managed Offices & Their Services
A managed office is an ideal, low-risk solution for established businesses to set up a flexible place of work, usually in affluent areas they would not otherwise be able to occupy under a lease. For example, Halkin offers two managed office spaces to rent, one in Mayfair and the other in Blackfriars – two prominent and prestigious areas to base any business.
What is a Managed Office?
As a space literally ‘managed’ by a third-party company, managed offices stand as the most cost-effective and risk-free option if you are looking for a fully furnished space designed specifically with your business in mind.
What Are the Benefits of a Managed Office?
Managed office spaces can be a brilliant option for most businesses, but are less beneficial for start-ups and small-to-medium businesses (SMEs) as they require a more dedicated tenancy and are less adaptable when it comes to brand image changes and rapid growth. Instead, managed offices are aimed at businesses with an established brand image and models lasting 18 months or more and are a more fixed solution.
The benefits of a managed office include:
- Fully-integrated space: Our managed offices, along with most others, come primed and ready with next-generation IT systems/communication services and high-speed WiFi.
- Greater flexibility: A managed office allows customisability at any time. Your business is not locked-in, so to speak, so you are free to adapt and expand organically alongside it, and pay in a way that suits you.
- Cost-effective and low-risk: When renting a managed office, you are often basing your business in a sought-after location. These office locations, especially in and around London, come at a price when conventionally leased. A managed office membership delivers all the perks at a fraction of the cost.
- Brand image control: We ensure your managed office represents you and your existing brand image well. We design your office space to suit your business’s needs and its precise aesthetic/practical requirements.
Managed Office vs Serviced Office: What is the Difference?
Managed offices are often confused with serviced offices, and the two do share similarities – but their individual benefits are better tailored to certain businesses and models. If you are deciding between the two but would like to understand the key differences better, below we have helpfully summarised what both services offer.
Managed offices are:
- For experienced owners: Managed offices are usually better suited to established businesses, with a set brand image and longer business strategy.
- Easier on accountants: Your managed office will have a set number of contracted months and will boil down to just one invoice to see to a month.
- Only yours: Managed office spaces come with private meeting rooms for you to utilise. This offers more security and flexibility, which in turn is better for client relations.
- Are a blank canvas: Unlike serviced offices, your managed office is set up specifically for your business and its needs. This includes everything from brand logos to interior design options.
- Not immediate: Once you have finalised the terms of your managed office, the host will require a short waiting period while they fit your bespoke arrangements.
- Free from fees: The benefit of a managed office is it comes with no added fees, for example, from solicitors or agencies. This keeps things clean and simple.
- Financially flexible: As contracts are often for longer periods, you are allowed more flexibility when it comes to how you pay your deposits and set-up costs.
Serviced offices are:
- For newcomers: Serviced offices are best for newer companies with the potential for growth, as they are not restricted by fixed terms and can adapt at a moment’s notice.
- Easier on accountants: Serviced offices require shorter contracts, which allow for adaptability/growth. They are also paid monthly via just one invoice.
- Not private: In a serviced office, your meeting rooms are often shared by other businesses, so privacy is relatively limited.
- Less customisable: Your serviced office comes set up for you, but offers little brand personalisation aside from features that can be easily flipped or removed to make way for new tenants.
- More immediate: Thanks to their pre-made set-up, a serviced office is pretty much ready to go once contracts are signed. Unlike their managed counterparts, you do not need to wait for long periods for your office to be functional. Your work starts now.
- Here at a price: Certain hosts may charge extra for the private use of meeting rooms or dedicated spaces. In these cases, rooms must be booked alongside other competing businesses.
- More collaborative: The communal nature of a serviced office allows for more collaborations and coworking opportunities, which are perfect for younger businesses that would benefit from this kind of daily networking.
Is a Managed Office Right for Your Business?
The similarities of a managed office vs serviced office include straight-forward accounting, with only one invoice to pay each month; access to prestigious areas that will boost your brand’s credibility; and both are covered by one host, like Halkin, which allows you to focus on your business and not the roof over its head.
But the differences between the two, as listed above, are just as important to consider. When it comes down to it, managed offices are aimed at established businesses, and serviced offices are aimed at new ones (i.e. start-ups or SMEs).
So, if you are looking for a flexible workspace that comes fully-equipt and styled to fit your business; if you are looking to base your place of work in a prestigious and sought-after location; or if you want to cut out the middlemen that come with conventionally leased properties, then a managed office could be right for you.
Have you made your choice? Browse the managed offices we offer at Halkin and their exclusive perks.