All businesses need an office of one sort or another. A startup may only need a desk and a laptop initially, but once the business grows in size and you have staff working for you, acquiring office space will become a priority.
Traditional office space works well if you need a permanent base for your business, but if you are going through a period of transition or opening up a branch office, a virtual office space for rent is a good choice.
With a virtual office, you pay a monthly fee for use of a postal address and telephone number. You may also be able to use facilities in the building, such as conference and meeting rooms, administrative support, and a ‘hot desk’. It’s the perfect solution if you don’t need permanent office space.
The problem with renting office space is that it is expensive. This is a justifiable expense when you have 10 employees who need a permanent home, but if you are just starting out or you are opening a branch office in a new location, paying for a lease on a new office is not always a good idea. Paying rent up front ties up your cash. There are also other expenses to consider, including heat, light, telecoms, and furnishings. And that’s just the start. Once you factor in insurance, taxes, and office consumables, running a full office is a big investment.
A virtual office provides all of the benefits without the expense. For an agreed sum of money, you are given a postal address and a telephone number. You can add this address to your business cards so clients and suppliers have a point of contact. Since the cost of a virtual office is much less than a traditional office, you can enjoy a more prestigious office address in a desirable part of town. For startups, this is a very attractive proposition. It gives you extra kudos with clients, which in some industries, is very important.
Obtain Global Coverage
You can rent virtual office space in most cities around the world. In today’s global marketplace, this is a huge advantage. Say, for example, you run a business consultancy in Chicago, but you are toying with the idea of opening up a branch office in London. Instead of spending time and money looking for suitable office space in London, you can rent a virtual office instead.
Your employees have a base to use when they are in London on business, meeting clients and putting feelers out. You also have a local address and contact telephone number for potential clients, which will be answered by a professional receptionist. If clients do contact the virtual office, they will be reassured that you are a legitimate business. You can use your virtual office as your business address, but when post arrives, it will be forwarded on to you, at an address of your choosing.
Renting a virtual office gives you time to consider whether the venture is viable. And if it isn’t, you haven’t lost too much money. In most cases, virtual offices are leased on a monthly rolling contract, so you can terminate the agreement fairly quickly, subject to any specific terms and conditions of course.
Gain Extra Flexibility
This flexibility is very desirable for many businesses. The modern business world is increasingly global, so it makes sense to keep your options open. Why limit your business to one city or country when you can expand into new markets around the world? This is literally an office without borders.
It’s very easy to open a virtual office. There are a number of global virtual office providers, as well as local service providers. You can choose the package that best suits your business, from a basic postal address and telephone number package, to use of conference facilities and meeting rooms, with extra admin support. Secretarial staff will take messages, sign for packages, and assist you if you need to attend a meeting with clients.
Virtual offices work for all businesses, from startups to established companies. It’s a low risk investment, which is perfect if you want to test a new market or enhance your brand image. Once you have a foothold in the local market and you need permanent office space, you can move out of your virtual office into a more permanent office space. Organize for post and telephone calls to be forwarded on until you have the new office established.