It is now estimated that the number of serviced office cum coworking space operators in Singapore has mushroomed to more than 100 with the total floor area amounting to over 1m sqft and growing fast.
As competition rises and the going gets tough, we have noticed a drop in prices by some operators with many dangling a low base price but that comes with many additional “add-on” charges even for the most basic of all services – the use of the business address! In the face of such cut-throat competition, more experienced and bigger operators have turned to being a differentiated niche player, in order to stand out and fill up all the spaces – a clever move.
In the past few years we have seen operators focused on various niche market themes from fitness industry (Core Collective), childcare (Trehaus), hospitality (The Great Room) to the ever-trending young tech startups (Hackerspace, Hubquarters, Carrot Patch). Operators offer the usual hotdesks and coworking seats with monthly rate and rates for daily access pass. What is unique is often the décor and fittings of the office space that plays to the profile of target market from fitness training facilities like gym & treatment rooms, children play room, to arcade games machines and console.
Young startups and small businesses are indeed spoilt for choice today with the diversity of offerings from various serviced office operators in Singpore, and at hugely affordable prices compared to five years ago when serviced office market in Singapore was dominatd by a few major players the likes of Regus and ServCorp with the typical corporate style office suites.
One of the key benefits advocated by many of these serviced office operaters in Singapore is the element of networking with like-minded entreprenuers in the same or related industries, and other founders in similar life stages for example new parents with young kids. Depending on the type of industry one is in, this networking opportunity may indeed bring about new businesses for some, though by and large many companies will still need to do their due diligence when sourcing for products and services.
O.M.O or “one-man-operation” business owners renting hotdesk or coworking seats will clearly benefit from the camaraderie of working in such a vibrant environment with many other “colleagues”.
At StartWise, being a small setup with just two private suites and four dedicated desks, we may not be able to offer that extensive reach and network of the big boys. However, we more than make up for it with our support services and features thrown in free of charge from the use of meeting room, printing, unlimited free calls from a dedicated phone line with free call transfer to mobile, display of corporate logo branding at the office reception, and so on. Over time we do hope to expand our base of clients through our unique training programmes targeted at startups and new businesses which will help to expand our network.
Speak to us today to find out more and to arrange for an obligation-free viewing of premises. We look forward to welcoming you to the StartWise family.
Though every effort has been made to ensure the accuracy of our writing and analysis, we do not warrant that our research findings will be 100% true and unbiased as we are also in the business of operating a co-location office in Singapore ourselves. We stand corrected and welcome any such feedback to firstname.lastname@example.org Through our blog, we aim to summarize useful information on office rental market in Singapore and to bring you coverage on interesting developments in the industry. We also express our opinions in our writing which must not be taken as facts without validation or further checks. Our sources of information will be limied to those from the authorities, and whatever that is published in the public domain as well as insights gathered from our day-to-day marketing and operations in our business. You should not base any decision on any representations given in any of our blog articles without fully verifying the said information with the relevant parties concerned and we cannot be made liable for any losses suffered as a result.