March Madness: Traditional Space vs. Furnished Office Suites
In the second March Madness match-up, we look at traditional office space vs. all-inclusive furnished office suites. So what exactly are each of these?
Here is a quick comparison:
|Traditional Office Space||Office Evolution Office Suites|
|Pricing||$ / Sq ft / Year – Paid Monthly||Fixed $ / Month / Office|
|Term||Long-term, often 5 years+||Month to Month or Up to 12 Months|
|Furnishings||Responsibility of Tenant||Furniture included|
|Utilities||Separate costs for, Internet, phone. etc.||All included|
|Services||Typically None||Starbuck coffee, Receptionist, Phone Answering, conference rooms|
The best option here really depends on the size of the business. We are thinking today about the truly small business that is represented by just a few owners and employees.
For less than 5 people, the answer is clearly the Office Suites.
Not only is everything included, but it allows the flexibilty to upsize OR downsize as needed. This can be a great option for entrepreneurs looking to start out or stable small businesses. When companies do grow in size, traditional office space may make more sense when they can better plan for growth, committ to a long-term lease and start to pay for their own services like a receptionist.
Stay tuned for next match-up: Meeting in the coffee shop vs. Conference Rooms!