Niki Fuchs: Building a distinctive business in one of the most competitive sectors

This month, Office Space In Town Co-Founder, Niki Fuchs, shares her thoughts on lessons learned by building a distinctive serviced office business in one of the most competitive sectors of the property market.

Niki highlights that property is still a largely male dominated sector. However, she embraced this and took advantage of the rarity value of being a female entrepreneur in this sector, securing meetings with agents, building owners and potential funders – all of which very vital in growing the business.

She believes her experience and understanding of certain issues faced by women in business, motivated her to ensure that within OSiT there is a strong gender equality agenda, a culture of equal opportunity and respect for individual talent.

Spotting an opportunity, a gap in the market or an emerging trend is fundamental to the success of many businesses. Before forming OSiT it became clear there was growing demand for high-quality, service orientated, office space which offered greater flexibility than could be found in traditional long leases.

OSiT’s decision to adopt a freehold model and own their own buildings was contrary to the established leasehold model of most businesses offering serviced offices. However, this somewhat radical approach provides greater stability and resilience, especially during downturns, and also allows for more investment in the design and facilities within a building, enabling OSiT to offer the best possible customer experience to tenants whilst investing in the asset.

Setting OSiT apart from competitors through its offer was also important. In order to maximise occupancy levels and returns commercial properties of a certain size and within a short walk of tube station or rail links were targeted when searching for suitable properties. As well as eye-catching designs the OSiT centres aim to support a real work/life balance by including facilities such as gyms, cafes, bars and hotel rooms within them.

Remaining relevant in a rapidly changing economic and sector environment will remain a challenge for the future, and will be necessary for the business and its offer to continually evolve and offer something fresh.

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