A question that we often hear is “why use a serviced office?” So, let us look as some of the advantages to using an alternative office space like a serviced office over traditional office space – as well as some of the perceived disadvantages. It is important to note that business centres serviced offices offer more than office services. The advantages of serviced offices over traditional offices are:
A serviced office can also provide a sense of community, simply because you are running into the same people every day within the business centre. It may be that you see the same people at the photocopiers network printers, in the hallways, in the reception area or even the kitchen while you are grabbing a cup of coffee. As you become more familiar with other office tenants, you begin to talk to them more and even start talking to them about your business and the challenges you face.
Another “feature” of traditional office space is that often you are not only paying for the office you lease, but also the lessor is responsible for a portion of the maintenance, taxes and upgrades of the building. These are not fixed costs as taxes often rise and maintenance is weather-dependent – so budgeting for your location/office expenses is more complex than a fixed monthly cost.
When a small business is just starting up, another expense to consider is the high cost of business equipment such as photocopiers, fax machines and telephone systems. These expenses can be saved by utilizing a serviced office space that provide access to state-of-the-art equipment without the capital expenditure or leasing costs.
One of the first advantages of using a serviced office is that you do not need to purchase office furniture, which is provided along with the office space. Purchasing office furniture (even used office furniture) can be a large capital expense that most start-ups cannot afford. The money required could be better used for growing the business.
Besides saving on the cost of capital expenditures on office furniture and business equipment, service offices can also save a small business the expense of hiring support staff.
The biggest advantage of a serviced office over a traditional office space for a fledgling business is that in many cases the length of the “lease” is very flexible. In some cases with a traditional lease, you are “locked in” to terms in advance and pay even if you go bankrupt – as was the recent case of Target in Canada.
When you rent traditional office space, you usually need to anticipate your future office needs and rent space that perhaps is not needed currently. This adds the expense of paying rent for additional space that is underutilized, and is also a constant reminder that expectations were not met which could affect employee morale.
Many small businesses and start-ups require boardrooms or meeting room space in addition to space for their workplace. This space is often the most underutilized space a business has. Most serviced offices (including Telsec Business Centres) provide meeting rooms and boardrooms at no extra charge. Telsec Business Centres’ office space solutions include free meeting rooms and boardrooms in over 500+ locations worldwide!
Business Centres can often facilitate rapid growth and full utilization of your office space via a variety of short-term, low-cost rental plans. Those same flexible rental terms can easily accommodate your needs without disturbing other businesses. To some extent then, a business centre is absorbing the costs of underutilized offices.
The cost of hiring and training an employee to do support work (such as reception, administrative, secretarial, bookkeeping and accounting) can be very taxing on the bottom line of a small business. With a serviced office, you do not need to hire a receptionist to deal with postal mail, answering the phone and messaging. All these services are included with your rent. When you need support work done, a serviced office can offer these services a-la-carte, so you only pay for what you need done when you need it done.
A serviced office provider or Business Centre is a veritable hub of professional services. More and more business professionals today are realizing that serviced offices are a more efficient and economical way to conduct their trade. And, many of the services that your business may need are likely “just down the hall.”
1. Jennifer Smith
General Manager
The Omni King Edward Hotel
37 King Street East
Toronto, ON
M5C 1E9
Tel: 416-863-9700
Website: www.omnihotels.com/hotels/toronto-king-edward
2. Mark Perry
General Manager
Executive Hotels and Resorts (Boutique)
8 Colborne Street
Toronto, ON
M5E 1E1
Tel: 416-350-2419
Website: www.spazen.ca or www.cosmotoronto.com
3. Emeline Boul
General Manager
Hotel Victoria (Boutique)
56 Yonge Street
Toronto, ON
M5E 1G5
Tel: 416-363-1666
Mobile: 647-574-5832
Website: www.hotelvictoriatoronto.com
4. Omkar Sawant
Reservations Manager
One King West Hotel
1 King Street West
Toronto, ON
M5H 1A1
Main: 416-548-8100
Reservations: 1-866-470-5464
Website: www.onekingwest.com
5. Van Nguyen
General Manager
Cambridge Suites Toronto
15 Richmond Street East
Toronto, ON
M5C 1N2
Direct: 416-601-3757
Hotel: 416-368-1990
Website: www.cambridgesuitestoronto.com
1. Michael Pagliaro
Carisma (Italian)
15 Toronto Street
Toronto, ON
M5C 2E3
Tel: 416-864-7373
Website: www.carismarestaurant.com
2. Patti Shaw
Terroni (Italian)
57 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-203-3093
Website: www.terroni.com
3. Declan
Restaurant 20 Victoria – Michelin guide approved
20 Victoria Street
Toronto, ON
M5C 2A1
Tel: 416-804-6066
Instagram for reservations: https://www.instagram.com/twentyvictoria/
4. Mana
Nami (Japanese)
55 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-362-7373
Website: www.namirestaurant.ca
5. Restaurant Lucie
100 Yonge Street
Toronto, ON
M5C 2W1
Tel: 416-788-9054
Website: www.restaurantlucie.com
6. Niam H
Cantina Mercatto
20 Wellington Street East
Toronto, ON
M5E 1C5
Tel: 416-304-0781
Website: www.cantinamercatto.ca
7. Siva Sathasivam
Uncle Tony’s
38 Wellington St E
Toronto, ON
M5E 1C7
Tel: 416-455-6650
Website: https://uncletonys.ca/
8. Pizzaiolo
104 Yonge Street
Toronto, ON
M5C 2Y6
Tel: 416-860-0700
Website: www.pizzaiolo.ca
9. Robin Singh
Woods Restaurant and Bar
45 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-214-9918
Website: www.woodsrestaurant.ca
1. Thom Tullo
Morpheus8 by Inmode
47 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-863-6564
Website: www.amanspa.ca
2. Altitude Athletic Training
56 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-366-3838
Website: www.altitudeathletictraining.com
3. Physioheath Studios
33 Victoria Street, #130
Toronto, ON
M5C 2A1
Tel: 416-368-2525
Website: www.physiohealth.com
We are by far the most experienced and best coworking team in the market – established in 1980
18 King Street East, Suite 1400
Toronto, Ontario M5C 1C4 Canada
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You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.