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How can you minimize your risk and maximize your opportunities when entering a new market?
Starting a new business and entering into a new market requires growth analysis, risk assessments, and outgoing expenditures. One of those expenditures, of course, is rent, if dedicated office space is needed, not to mention the expenses that go into leasing a space from utilities to phones and Wi-Fi, as well as the time it takes to get systems up and running. With Regus office spaces and solutions, it’s easy for a business to set up their operations. The barriers to entry are removed and companies are freed up to concentrate on their go-to-market strategies and attracting top talent.
Regus flexible-office space can especially help small- and medium-sized business when global growth is on the horizon but for whom moving into a new market is a pricey consideration. Flexspace helps them avoid traditional leasing models when margins are small and resources need to be carefully apportioned. Businesses don’t have to lay out the money for a 10-year lease and tie up much-needed capital, plus they can avoid the red tape that goes along with arranging facilities and services. All of these benefits reduce the risk and commitment for a business that doesn’t yet know how it will perform in a new territory, while also providing peace of mind.
Businesses that are just starting out can exploit the flexibility of a Regus virtual office, where staff can handle things like taking messages, handling mail, and providing a business address, so the business can focus resources on getting off the ground. When business expansion demands a physical office, there are Regus spaces available in over 3,000 locations around the United States, making it likely that businesses will be able to rent an office space that is convenient to public transportation or main highways, as well as commercial hubs or even areas that are close to where their employees live. The variety of products means that businesses can rent a meeting room of the size they need with no commitment, reserve hot desks or rent a private office.
Aaron Hopkins is the managing director of Travel Visa Plus, a startup based in San Francisco that offers expedited travel services for US passports and other travel visas. He has had an office space for two years with Regus, for himself and his two employees. “After quite a bit of research, we chose Regus as it met our location requirements,” says Hopkins. “We found Regus to offer great office options with a terrific support staff. Plus, the lounge and waiting area on our floor are idea for meeting clients.”
One of the huge benefits of flexible-office space is that it allows businesses to scale up or down in size as demand rises or falls. If the business expands they will need to outlay more money to hire new employees to meet that demand, plus find a larger space – not to mention the time it takes to find a new building. If the business climate changes, this return on investment might be lost. A flexible-office space where a few extra desks can be installed gives companies the luxury of making mistakes or taking risks without suffering too much if it goes sideways, as they have a support network already in place at their Regus location.
For businesses that need or want to scale down for whatever reason, the freedom of no long-term contracts and full flexibility helps them make the best decisions they can. Travel Visa Plus recently renewed with Regus for a third year, but renegotiated from an office to a coworking space. “We found that we spend quite a bit of time out of the office as we are out daily conducting transactions for our clients at the various consulates and US passport agency,” Hopkins says. “Having the option available for a shared space enabled us to save money overall with our office needs and a coworking space seemed to fit our needs to a better degree.”