White Space Sdn Bhd, an all-in-one workplace solution provider, plans to expand its boutique service offices beyond the Klang Valley next year, given the rising number of micro-businesses being set up nationwide. Executive director and co-founder Jason Chow says more young entrepreneurs are running businesses at home or in rented offices.
However, the high office rentals in strategic locations the in city areas are always the main concern for such business operators. “We aim to help them reduce their operating costs by providing the services of a fully equipped business centre with virtual office capabilities,” he tells StarBizWeek
“It is a good opportunity for us to expand during the economic downturn as business owners are looking seriously at cost cutting.” Established in March, White Space provides a dedicated business address, streamlined call and fax forwarding, meeting room and conferencing facilities, business support services as well as IT telecommunication infrastructure. Chow’s partner and company executive director Leslie Jeyam says they invested about RM1mil in infrastructure, IT and interior design for its outlet in Solaris Mont Kiara, Kuala Lumpur.
“We chose Mont Kiara because office rental is expensive in this area, so our potential clients will be able to see better cost savings,” Chow says. He adds that the company is looking to expand to Penang, Johor Baru, Seremban, Kuala Terengganu, Kota Kinabalu and Kuching. “Within the Klang Valley, we plan to open four more outlets this year. However, the locations must be in vibrant residential areas,” he says.
Therefore, he says residential areas near business districts such as Subang and Ampang will be the potential places for White Space’s new centres. He adds that the company wants to strengthen its strong footing in the country first before entering overseas markets like Thailand and Singapore. Facilities at the 2,000-sq-ft White Space outlet include four meeting rooms, a waiting hall and reception service, says Jeyam.
Its one-stop service package starts from RM99 per month. “We want to bring a new business concept to customers,” Jeyam says, adding that White Space will continue to improve and upgrade its services. “We are looking to have more than 200 clients by year-end,” he says. Potential clients include companies that want full office facilities without the fixed cost of having a permanent office away from their headquarters,” he adds.
Chow sees a bright future for all-in-one business centres as long as there are companies that do not want high overhead costs and those who need temporary office or virtual office facilities. “We see our annual equity return at 30% and above, and we are looking at a business growth rate of 50%,” he says, declining to disclose revenue projections.