Executive Office Suites: Serviced Offices

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Guide to Executive Office Suites

Executive suites offer shared resources and savings for small businesses
By Matt Alderton

Executive office suites can be an ideal setting for small businesses that don’t want to set up shop at home and can’t afford to shell out big bucks for their own commercial real estate downtown. That's because corporate suites offer the cost savings of a home office, plus all the amenities of traditional office space.

Executive suites usually come furnished with all the workstations and office equipment you need, and many are staffed with receptionists and clerks to support the day-to-day operation of your business, all for significantly less than the typical cost of commercial real estate. As such, executive office suites are versatile enough to accommodate any number of space-starved companies. Still, they’re most ideal for:

1. New small businesses that need affordable commercial real estate.
2. Companies with only a few employees that would benefit from having serviced offices.
3. Businesses that need short-term or temporary office space.
4. Companies with modest space requirements that are looking for office space for rent.

Action Steps

The best contacts and resources to help you get it done

Compare and contrast executive office suites and traditional commercial real estate Executive office suites aren't for everyone. Check into the costs and services provided before taking the plunge.

I recommend: Start at OfficeFinder, which offers an “Executive Suite vs. Conventional Office” cost comparison calculator. Also consult the Office Business Center Association International (OBCAI), which offers resources on choosing an OBC as well as an executive suite search function.

Use commercial real estate search engines to find corporate suites near you The Internet is chock full of commercial real estate resources. Use it to narrow your search for executive office suites locally, regionally and nationwide.

I recommend: Popular websites where you can search for executive suites include Cityfeet.com, Offices2share.com, OfficeFinder, Esuite.com, Officelist.com, Instant Offices and Worktopia.

Select executive suites with the facilities, equipment and staff that you need most Most executive office suites come furnished with desks, cubicles, printers and copiers. Other amenities may include postage meters, coffee and snack service, voicemail and fax machines. Some corporate suites offer shared facilities, too -- such as a kitchen, conference rooms and copy centers -- and many also come fully staffed. These serviced offices often supply their tenants with a live receptionist, assistants and even administrative and accounting staff.

I recommend: Leading providers of executive office suites nationwide include The Regus Group, Alliance Business Centers, BusinessSuites, Office Suites PLUS and Synergy Workplaces, all of which offer basic business facilities, services and equipment.

For occasional or infrequent use, consider virtual office space An increasingly popular type of temporary office space for rent is virtual office space, which provides home-based businesses physical space when they need it and a professional address in a high-profile city.

I recommend: To find virtual office space, look to The Regus Group’s HQ, Intelligent Office and Davinci Virtual Office Solutions.

Tips & Tactics

Helpful advice for making the most of this Guide

Most executive office suites can accommodate between 10 and 15 people. There are options, however, for as many as 50 people and as few as one.
Corporate suites can be up to 40 percent cheaper than conventional commercial real estate offices.
With executive office suites, you don't just save money on the space, you save on equipment and employees, too.
It might not be wise to share executive suites with competitors, although sharing them with potential partners, peers or vendors could be advantageous.
Most executive office suites have leases of six months or a year, but other terms are often available.
Many serviced offices have temporary office space for rent by the day or the hour for home-based businesses and traveling executives.

Executive Office Suites

Guide to Executive Office Suites

Action Steps

Tips & Tactics

How-To Guide from WORK.COM

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