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Runway East CEO Joins Panel on Flex Sector
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Natasha Guerra, CEO of Runway East, joined a panel hosted by Property Week and Yardi about the rise of the flexible office sector. They were asked about why scaling a flex business is so important, the challenges that operators face when trying to scale, and the pros and cons of management agreements.
When asked about her experience scaling Runway East, Natasha shared: "From a smaller operator’s perspective, scale is about getting access to buildings. As you grow you build a track record of deals and data. Four years ago we never really got invited to tender. Now that we have nine buildings we are doing a lot of tenders where we are pitched against other operators, so that track record really makes a difference."
She spoke of the challenges she has faced in growing the business: "As we’ve grown, we’ve found that consistency is the hardest thing to scale. And that it gets more expensive before it gets cheaper – we actually need to increase our cost base to get consistency across our buildings. It’s much easier to be consistent when you have a small management team and you can walk between all your buildings than it is when you are in multiple regions and you are sheltered from the frontline.
"The challenge of getting from 10 buildings to 20 is that the capital required is quite high – you need more sophisticated management, more sophisticated data and more sophisticated tech, and that is all quite expensive."
During a discussion about hybrid working, she commented: "We are not yet at a stabilised point – many customers don’t really know how much time their people will be spending at home versus in the office. That has been great for the sector because so many large occupiers have moved to taking flex space."
You can read the full discussion here on Property Week's website.
Got Questions? We've Got Answers
We've put together some FAQs to help you settle into life at Runway East.
What’s included in the price?
Our pricing is all inclusive, so as well as access to your own private office space, your price includes business rates, utilities, cleaning, tea and coffee, a program of professional and social events for your team, and (all importantly), Cake on a Wednesday and a Drinks Trolley on a Friday.
What will my quote include?
Your quote will include all currently available office space that meets your requirements, along with the information you need to decide if we might be right for you - images, floorplans, and full details of our services.
Do you offer free meeting room access to members?
Yes, if you become a member with a private office at a Runway East site, you get free meeting room access for your team across 100+ meeting rooms we have, with industry leading allowances. To make sure members use space fairly, overages are charged only in the event you go over your allowance.
I have specific needs - can you meet them?
Almost all our members have specific needs - and we pride ourselves on aiming to meet them. Reply to your quote with them, and we’ll give you a speedy response - or call us on 0203 1379 953.
How long are your office space agreements?
Our standard pricing is on 12 month terms, but if you want a shorter or longer agreement, those are also available, with custom pricing to reflect your commitment level.
Can I customise my office?
Yes - we have a range of office customisation options you can choose from, and we want to deliver a great environment for your team. Options include your logo on the wall, to your own phone booths in office, through to building meeting rooms and custom requirements.
I’d prefer to speak to someone on the phone or via email?
No problem - you can give us a call on 0203 1379 953 or you can email us at membership@runwayea.st.
Are Runway East expensive?
We provide a range of options for all budgets, and always aim to work with your budget where we can. If we can’t meet your needs - we’ll be upfront about that with you from the start.
Can I speak to someone on the phone/over email?
No problem - you can give us a call on 0203 1379 953 or you can email us at membership@runwayea.st
How flexible are the length of the agreements and notice periods?
Our standard pricing is based on a 12 month contract, if you want longer or shorter contract, we're up for it, just bear in mind the price may change depending on what you're looking for.
Are there any hidden fees we should be aware of?
Nope - everything is included. Your rent, business rates, service charge, utilities - even a tonne of meeting room credits. The only times you'll be charged outside of your agreement is if you A) exceed the generous meeting room credits already included, or B) Want to customise your space.
What are the membership criteria?
We price most of our memberships on desks, or the equivalent number of desks within an office.
How does the meeting room system work?
We price most of our memberships on desks, or the equivalent number of desks within an office.
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