Unfortunately too many small and medium businesses mistakenly believe that Geelong serviced offices are ‘out of their league’ without understanding the many hidden financial and time costs in taking out a commercial lease.
Before deciding to secure a commercial office ‘floor space only’ lease, look beyond the cost per square metre of office floor space. Invest some time upfront to fully understand the cost of maintaining and establishing an office, including the potential to significantly reduce your earning capacity while juggling the complex process of connecting essential business equipment.
Do a cost comparison that takes into account ALL of the expenses associated with setting up an office.
Fitout – if your office isn’t already perfectly configured for your needs, the fit out could be your responsibility including the installation of partition walls and doors.
Furniture – quality office furniture is expensive. Secondhand furniture can be an option, but are you compromising the Occupational Health and Safety (OH&S) of your team?
IT Infrastructure – the logistics of installing telephone and internet cabling and organising connections should not be underestimated. Costs include telephone line connections, the cost of a telephone system, internet connections, modem and server charges, networking and associated cabling.
Telephone and Internet Charges – you can expect to see bills for your landline telephone, mobile telephone, office internet and mobile internet if you use internet on the go.
Rates – before signing a commercial lease check that you’re not liable for Council rates payments.
Building Insurance – it’s important to contact your broker to see if you need building insurance, as well as insurance for the contents of your office.
Utilities – are outgoings included in your lease? Depending on your lease conditions you may be liable for electricity, water and gas charges.
Cleaning – how often will you need your office cleaned? Weekly, daily, twice-weekly? How much will it cost to contract a cleaner?
Reception Staff – who will meet and greet your clients? Will you need a receptionist, and if so, factor in the cost of fitting out your reception.
Toilets and Kitchen Facilities – do the building’s facilities meet OH&S standards? Do you need to spend funds upgrading facilities?
Meeting Rooms – are there private areas to meet clients? If you will not be working alone in your space, you may need a private meeting room to protect clients’ privacy.
Printing Hardware and Running Costs – what are the costs associated with leasing a printer, networking it to computer systems and inks, toners and paper.
Ability to expand – will your new office allow your business to get bigger? If expansion is part of your business strategy, you may incur the cost of leasing additional space now to accommodate your future team.
Security – does your office have a security system? Is it monitored and, if so, who pays? Or, do you need to install a security system to keep your business free from risk.
When you move into a Geelong serviced office or workstation at PACE Business Services, you receive one all-inclusive monthly invoice. More importantly, we have already done the complicated, time consuming set up work for you by installing fully operational internet capabilities, a networked printing system, modern telephone system with multiple ports, quality furniture and office fittings, professional meeting rooms and a board room equipped with state of the art audio visual equipment ready to use.
If you are establishing a regional city presence or setting up a workspace to take your business to the next level of success, PACE Business Services invites you to tour our Geelong serviced offices. Make a time by phoning (03) 5223 8900.