Market for improved premise for training and education of all kinds

There are so many empty unimproved premises for an entrepreneur to rent for improving relevant(renovate and outfit) to their business needs. This however limits the chance to be an industry specific skill based entrepreneur to the very brave or the deep pocketed. In the current times this limits the qualified candidates to the property investor. This however does not eliminate the possibility for the freelancer of the skill worker/entrepreneur, as those in the industry of their choice will also find many contracted arrangements for consultants in exercise studios, music studios, dance, tuition and many skill based businesses. Even hospitals have this arrangement available to their doctors and call them consultants.

Today there are newer options where facilities prepared by the industry offering their access capacity to other skill owners for a percentage or an out right rental for the use of the improved facilities. For most it is run by entrepreneurs that they themselves have the skills but require access to more for variety or sustainability with profitability. (not necessarily so that both sustainability will be profitable nor profitability will be sustainable.) or persons whom have been in the supporting element of the industry in question.

However today there is an element for even property owners to differentiate themselves and prepare their facilities for those kinds of businesses to be rented out in whole, or to involve themselves in the business to sell capacity and facilities. This model though more taxing to the investor has an increased level for the investor to ensure that their property will be maintained. Reason is that they will retain access to the premise and facilities, thereby enabling quick remedial action when failure occurs.

Risk is that if you choose the wrong industry to serve for your location or do not prepare in the manner that is preferred then your investment may go to waste. A safer way to it? Try to engage with an existing operator in that industry to be your tenant and renovate according to their needs then up value pricing accordingly. Else go into a partnership with an existing operator in that industry.

The evolving role of the Service Office Provider.

The role of the Serviced Office provider has evolved from the initial version of providers. They were primarily landlords or building owners whom had agreed to cater to large MNC (Multi National Corporations) that had financial strategies and business strategies that ranged from lowering their initial investment, especially in countries that were very volatile. Another would be that they could exit quickly without too heavy losses.

The initial versions were catered for single company occupancy. The focus then was reducing complexity for the tenant with compensation that was higher. The initial model was very lucrative for the owners with some contracts being that they were paid up front for the entire tenancy. Hence they then could reinvest for another property.

As time went along more smaller companies sent representatives out and the need for a shared version of this facility arose. Hotels initially were the hosts for these outfits that were either smaller or temporary in nature. The hotels provided a mixed residence and business centre facility for them. But as the numbers arose and the hotels rates for services raised alternative operators. These version were very staid and rigid. A lots of structure was adhered to just as in a normal office. In a sense they were very classy in their delivery.

As economies exploded in a positive way, more people ventured into business. As such the demand for office space grew. But not everyone had the expertise to build and run one. This opened up the market for more enterprising entrepreneurs whom then built and ran it as a business.

Today serviced offices have evolved to incubators, entrepreneur encouragement/development centers and more. The flavor of operator basically is in two forms, corporations (Big and also smaller ones) and owner operators. The theme these various operator have been described a little bit in an earlier post that we did. But one very useful delivery these new breed of operators bring is their skills from their earlier working life. That is processes, contacts, mentoring and idea building/developments, introduction to funding with much more over and above just space, service and technology.

This is another element that could go into your evaluation of your choice of Serviced Office operator for your business.

One point to note is that not all of these operators own their premise anymore, but the demand is such that even with rented premise, they are operating this business. One of their current revenue streams are providing consultancy to property investors to convert their premise for providing their tenants with full service premise. Property investors are beginning to realise the competition for tenants in the unimproved property rental market is currently soft. Due to the high demand of rental rates, deposits, difficult owners and business environment that is challenging for the potential tenants whom need to keep a higher fluid cash flow level. Those whom have excess would be investing into the property for their own business use and more.

Going the Serviced Office way, deposits are lower (less months required), termination, resizing is more flexible with shorter duration of notice and more business support is available for purchase by the business owner.

Shared Serviced Office Providers

The Serviced Office is a business where there many models available today for the budding till experienced entrepreneur. The range of solutions also vary. More on this is elaborated in one of our earlier articles on Serviced Office Products and Solutions.

Though it may appear that cost is the focus of most of the customers, a greater number of the customers go for convenience. As more business persons will find out as they operate, an office has unnecessary complexities involved that will eat valuable time that can be spent on building their business.

The following are some of the models available for the business man to choose from.

You have the International and regional providers, whom have presence at the most populated countries and cities till the more remote but booming locations. They normally cater for the multi national players or outfits that conduct business internationally. The local business man may use their facilities due to the prestige of having a well known provider host them. Plus the assumption of the latest support methods, tools and solutions. But flexibility is not one of their strong suites.

Next, you have the in country Prestigious Address providers. For example in Malaysia you have a number of locations that are desired for their address or presumed better clientele. These locations range from KLCC, KL Central, Bangsar, Anything Hartamas from Desa to Sri Hartamas, Damansara, PutraJaya, Cyberjaya and many more.

Medium tier providers, whom deal in very structure and established models of delivery and presentation of premises. They may not necessarily have the latest in technologies or delivery methods but they normally are well structured. Most of these providers fall into this category from the aspect of capacity capabilities and locations variety.

Custom providers give you the length and breath of scope according to your needs. Most of them do however require a higher commitment from you in terms of length of contract and value that you are willing to part to have things more to your needs.

Economy providers. These providers deal with scale and the cheapest ways to deliver the service to you. It may also have less frequent refurbishment periods of the premise and the facilities. But they are normally functional and very price conscious.

Limited Service providers. These are normally business address and mailbox service. They possibly have a general meeting room for the odd meeting. However they are very concentrated at delivering the service that they concentrate on with the zest that is very commendable. Very good value for your choice.

The neighbour hood providers. They normally can vary in terms of scale and service style much like the middle tier and custom providers, mainly as they tend to serve the community surrounding them where smaller business owners prefer to have operations not too far away from their home for a variety of reasons. They could be to be more efficient in their usage of time by saving on travel time and cost associated, avoidance of daily traffic jams which is very similar to the early reason, they are family oriented business persons whom may wish to have easy access to providing a balance of support to their family as well as good service to their customers, some just like the friendlier service possibilities. Interesting to note, this category still attracts the out of town and also international business person.

All the varieties of providers, cater to many themes. From the strict no nonsense organisation behavior to the more casual artistic or functional office form. The many and varied themes are a sign of the times where variety of styles of operations with the manner of conducting business has been open wider due to the globalisation and many oppurtunities that drive businesses today. What ever the theme and consideration you may find suitable to your desired customer perception of your organisation, there always is one format available to you.

Else create one that suits you and get help filling up the extra capacity of your theme by teaming up with a Serviced Office operator.

There is always another way to keep your cost down or even help in office management. Explore the possibilities.

Business Ideas…. training and hobby facilities

There are many hosting businesses. The newest would be the expansion to heavier hobby facilities and tools with access to skilled instructors. (not necessarily certified but could be craftsmen with years of experience)

Now there are many hobbyist with no place to practice their hobby in todays environment where most persons live in multi tenanted dwellings or even rather small somewhat exclusive lateral dwellings.

So as such arises the need for space to just be able to work on that project, be able to leave in some what a ready to continue state till the next opportunity arises. Another good match is to provide tools on a lease or rent basis. Consumables such as fuses, blades etc can be bought on a need basis but the base tool could be rented to the hobbyist.

Along with that is to conduct trainings, guided project kits, mentoring and much much more. Even the sale of materials be it on order basis or ready of the shelf.

This kind of business would fall into the Share Facilities Business Segment. Much like the Virtual Office Business which is normally hosted along with a Shared Serviced Office Business.

Note that the Business Ideas segment is to give ideas and is just to encourage people whom are looking to start a business. Be it for additional income, just looking for change or opportunity. Information provided is just on a level of concepts generally, some level of detail may be provided as example only. It is best should an individual or group of individuals wishing to use the idea to do through research prior to implementing the ideas. Most of the ideas require adaptation and also further detailing to be even ready for deployment. Take it as a seed. The writers and the host platform is not responsible for any results arising from the use of any ideas that have been made available free of charge in seed form.

Business Ideas….Business of Training

Training. Today it is provided by individuals and organisations. They are in-house, out sourced and also consultant based. There are initiatives and incentives both by governments and also business to increase the retooling of all the work force available.

Reason being that knowledge now more so than before is really irreplaceable.

Hence the business of training is increasingly lucrative, if not fulfilling. If we were to take a light swing at a tag line from a very inspirational business, everyone can teach now too. And we do not just mean it lightly, but everything from cooking and baking to curing, teaching technology to day to day knowledge even in abstract form can be knowledge to be imparted. More so to be shared too with everyone. Value is just the issue.

Trainings can start from as simple as knowledge sharing (real life experience for motivational purposes to skills) till certification and accreditation by organisations and association.

What is generally needed if you do not do packaged training (Training studied, collated, organised and prepared for by specialized training organisations) and would like to build simple but not necessarily customised training is generally the same. You would require the following:

  1. Obvious is the topic with an objective
  2. A knowledge worker with a high level of experience (certification just increases the acceptance of the training information but not necessary)
  3. Well structured training materials
  4. Tools for presentation
  5. Tools for students (If they are not put on the student as a prerequisite to attend the course)
  6. Tools for practical sessions.
  7. Premise or location with facilties (could be at your clients premise this would normally reduce their training cost but not necessarily if there are tools that require relocation and setup)
  8. And training administration support.

Now the above list is just a basic simplification of the total requirements there may be legal, industry or logical requirements to comply to, you can still conduct training as your business. You do not need to take on heavy overheads of premise and staff. There are many methods and options. The simplest is going to a Shared Service Office organisation and see what they can offer you.

 

Note that the Business Ideas segment is to give ideas and is just to encourage people whom are looking to start a business. Be it for additional income, just looking for change or opportunity. Information provided is just on a level of concepts generally, some level of detail may be provided as example only. It is best should an individual or group of individuals wishing to use the idea to do through research prior to implementing the ideas. Most of the ideas require adaptation and also further detailing to be even ready for deployment. Take it as a seed. The writers and the host platform is not responsible for any results arising from the use of any ideas that have been made available free of charge in seed form.

Business online… do i need a physical space for ….

“I have an online business. Why do i need a physical address for my customers? They won’t come over.”

As business methods evolve there are many preferences and requirements. Some are driven by your needs, some by your customers and in environment where there is confusion, then comes driven by legal compliance. What ever the drivers, what ever your choosen medium for conducting your business there are a few minimum expectations, even if they are rarely used.

In the current online business environment, as it is becoming one of the prevalent methods of conducting business, as it evolves more expectations arise coming from a hybrid of business styles of conducting business.

One of them is that even though you may be online hence “virtual”, is a physical address location that you can be located. Preferably at this location you have a set frame of business hours and someone to help you attend to your customers. No longer is it the expectation that you have a full blown setup, but at least a setup that is functional.

So you could use light lease options for your space such as that provided by Serviced Facility providers, you can also use loose labour (such as temp staff or remote working staff or even outsourced attendants) to meet your live people interaction requirements. But you do need to up your setup in todays environment.

So just a frame of expectations that we have collected via responses and enquiries online, human interaction daily etc are these: –

  1. Yes i will buy online. But i want to be able to walk up to the merchants and have a direct live discussion.
  2. I do like the reach online businesses have by them using couriers and such. But would be better if i could just call them up to do the return pick up even if i have to pay for the return cost, but not the replacement cost.
  3. It is ok that i can go to a multi tenanted or hosted location to find them. Even a kiosk will do as long as i can find them there. Even if it is limited days in a week. Hence even a serviced facility location, a mall, even a bazaar or an office address will do. If i get a house address i will drop by anytime.
  4. As many communication mediums need to be available to me. Phone, Skype, Messenger, SMS, Email and more. Even fax.

Leaving you with the above in mind. Look out at any serviced office facility for a Internet Entrepreneur package that should provide you a business address, a mail box, virtual assistant and possible share meeting space. Shared storage would be a nice plus so that you could actually put your stock there instead of your homes. Ask if they could help you secure some insurance service too. This is to limit your losses in event of break in or fire. These facilities do not provide you that kind of protection else your price will be much higher.

Business Address…. more than just a label to a location

All space can be used for all kinds of purposes. But being able to locate the space requires structure, by all norms this comes with labeling schemes…. in this case addresses for locations.

Addresses through the ages have started from just a generic general area till progressing down to a specific unique location right down to a unit within a location. Example? Well it used to be just a reference to a town or village and person known within that town or village would be known within that community. So anyone from outside that community just needed to ensure that it reached that town or village with the name of the intended recipient and they would be assured it would reach that person. Of course the possibility it may not reach was always there. And it was an accepted risk. Especially in social engagements.

But as we in now present times have multiplied, in terms of names and locations that have many similarities but yet could result in great differences, the need to have very specific addresses has increased. More so in business. Even with the advent of virtualization, electronic communication systems, a good old physical address is still important. Some may refer to having a store front or brick and mortar location with an address as still relevant. And it is true.

As currently more places cost to acquire or build up along with the idea of permanence having so little stability due to the ever constant changing human needs, to set up a permanent place may prove daunting in terms of complexity and cost. So a good middle ground with possibility to scale according to need is to go with the Service Providers. They could start with the basic provider like a General Post Office Box to a more commercial valued presentation such as a professional mailbox service. All these providers may provide you a variation in their service in terms of general box to personalized box with supporting services such as customised receiving services and more.

Today a scale up to this service will be Serviced Office Providers whom will also have available Temporary and Longer term packages ranging from open concept to private and work group office concepts. Along with that also meeting rooms, conference and seminar facilities.

KANSHARE SDN BHD is one whom is able to provide you with some of those services. And where we are not able to meet your needs, through partnerships and good friendly working relationships with similar providers we are able to possible recommend you one whom has a solution to meet your needs.