| What is an executive suite, exactly? It's a fully | | | | - Convenience: An executive suite employs staff to |
| furnished and equipped office or office building, | | | | provide basic office services like reception, clerical |
| managed by a facilities-management company. The | | | | support, IT support, equipment maintenance, |
| company rents individual offices or even entire floors | | | | housekeeping, building maintenance, security and |
| to other companies. Also referred to as business or | | | | waste-management services. The executive suite |
| executive centers, or managed offices, they are | | | | owners are responsible for theft and loss insurance, as |
| frequently found in the business districts of large | | | | well. |
| metropolitan areas around the world. | | | | - Economical: Utilities like water, heating, a/c and |
| Renting an executive suite means more than just a | | | | electricity are included in the rental fee. Rental fees are |
| desk, a chair and a wall socket to plug in your laptop. | | | | usually lower than standard, full-time office space, |
| Features often include shared services, such as | | | | making executive suites the perfect choice for start-up |
| reception, catering, meeting, conference and training | | | | companies. |
| rooms and courier services. It also may include access | | | | - Fixed costs: Since there are no variable costs |
| to business equipment such as broadband, WIFI, | | | | involved (such as utilities), you'll know exactly how |
| copiers, printers, telecommunications (phone number, | | | | much to budget each month for your executive suite. |
| fax, answering services and lines). Kitchen facilities are | | | | - Flexibility: If your company grows more quickly than |
| often part of the deal, as well as common areas and | | | | you'd anticipated, you can get more space and |
| parking spaces. Sometimes extra services cost extra | | | | services without moving or hiring more people. |
| fees, but they still are usually a fraction of what you'd | | | | - No long-term lease: If your business has to downsize |
| pay for permanent full-time services. | | | | for short time, you can let space go, and then pick up |
| Rent is usually lower than typical office space since it | | | | more when your business rebounds, without penalty. |
| is often shared. Renters save money on furnishings, | | | | - Referral partners: Your office suitemates can refer |
| office equipment and salaries for support people, since | | | | business to you, and you can refer your suitemates to |
| a shared receptionist may come with the space. The | | | | others. |
| best part? When you're not worrying about equipment, | | | | - Support staff. When support staff are available, |
| personnel and where you'll hang your hat, you can | | | | they've usually been extensively trained in a wide |
| spend more time running your business. | | | | range of office tasks. |
| Benefits of executive suites: | | | | - An established address: Many are housed in |
| - Professional environment: Office space is designed, | | | | well-known business neighborhoods, the addresses |
| decorated and furnished with business professionals | | | | immediately recognizable on your business card. |
| and their clients in mind. | | | | |
