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Back in the mid-1980’s, Giles Fuchs returned home to his family with the news that he had failed his A-Levels. Disappointed and in need to prove his worth, he set off to a local estate agents where he secured his first full-time job outside of school.
In the coming three years, he developed the salesmanship and work ethic needed to someday make his own fortune and become the success he wanted.
A crash course in business - Having worked for that same company for three years, Giles left to found his own estate agents firm. The business soon took off and in the following years, he set up a number of other similarly successful ventures.
Such ventures include a disaster recovery company, however, in 2010 his plans changed when he established OSIT with his sister Nikki.
The business of serviced offices - In 1979, Fuchs’s mother set up the first serviced offices in the UK and it is only fitting that as of 2010, her son and daughter have, in Fuchs’s words, “picked up the baton and run with it.”
The partnership in place sees Giles running much of the capital financing and strategic planning elements of the business with Nikki focusing on day-to-day management.
It would appear they’ve found the winning formula as within just seven years the business is now valued at around £200m, with yearly revenues of £20m.
A booming industry - Serviced offices are essentially a way for businesses to hire an office on a very short-term basis, without having to invest large sums of upfront capital or become tied into a lengthy agreement.
As of 2017, it is estimated that this particular industry is worth around £16bn but is set to grow to £60bn by 2025.
Giles and Nikki have incorporated a few USPs in their business model which has allowed them to levy and a good part of the market in such a short period of time.
All their serviced offices are uniquely wonderful in their own way, making them very appealing. One such office is fitted with an Alice in Wonderland theme whilst others use on trend office furniture and contempoaray breakout area furniture to attract clients.
Another turning point was when they pivoted away from leasing office space, into raising finance to own the building themselves and thus become more of a property company.
Making a statement - You don’t need to necessarily follow the same route as Giles when fitting out your office space, as there are much more affordable means of creating the perfect environment.
Here at Office Reality, we design, fit-out and supply office furniture. So If you are looking to revamp the look of your office space, then get started by visiting us here.
Image credits: Office Space in the Town
Office Reality is a resource for those who look to source and buy office furniture, contract furniture, healthcare furniture and equipment
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