Executive Suites Continued…

Getting what you pay for

The short-term aspect of most executive suite arrangements is highly cost-effective when you consider the up front costs of setting up a new office. However, use as a permanent office or for handling a large workload can be very expensive. In particular, pay-as-you-go costs (such as usage fees for copying, faxing, etc.) can add up over a longer period of time, and buying or leasing your own equipment can be a better option.

Another key concern is space. The average executive suite has little, if any room, to expand. Some of these offices can be as small as 180 square feet, or smaller than many master bedrooms. If there will be more than a few people working in the office space for any period of time, it may be wise to consider other options.

An office based out of an executive suite it somewhat at the mercy of its lessor, particularly if you are leasing personnel. While using business center employees may be convenient in the short-term, it can often be less expensive to hire a temporary worker or a part-time receptionist.

Business centers staff can run more than $22 per hour plus fees to the business center itself. While this may be an extreme example, higher costs like these can greatly diminish the cost-effectiveness of leasing an executive suite.

Temporary solutions

In contacting a leasing agency about an executive suite, it is imperative to weigh all of the potential benefits and costs of such a venture. The most sizable advantage to an office space solution like an executive suite is that it can be temporary. Most companies offer their suites with no long-term obligations so that a business is free to move to a more permanent location when the time is right. If the office is being rented solely for use as a satellite operation, than a business center could easily become a long-term address. If not, it can make a very effective temporary solution.

By Matthew Bendert