Do you work from home in Jersey? Do you have a Belmont, Alabama address? Do you wish you could be located in a place that screams big brand value for your business but without paying the big price tag associated with that? Renting a virtual office space may be right for you. It is simple. You pay a monthly fee and can get a big city address, phone number and even a live receptionist for a whole lot cheaper than renting an actual office space and paying staff. Not convinced yet? Consider these benefits.
1. The brand value of a successful NYC business
What are big American cities? They are hustle and bustle. They are highly educated business professionals rushing down the street in suits to their next meetings or the coffee cart guy who wakes up at 3am to make sure he is open for the morning rush. They are cities that never sleep. They are cities full of people, dedication, innovation and talent. What do you get when you put those ingredients together? You get highly competitive business markets where only the fastest, cheapest, and best businesses stand a chance.
Imagine owning a coffee shop in NYC. It better have the best coffee, the best ambiance and the best baristas that can make the coolest designs in the cappuccino foam. If you are selling refurbished computers in San Francisco, they better be flying off of the shelf like hotcakes and you better have a healthy number of return customers or you will not be affording your rent this month. In contrast, if you are in a small town, you could be selling a mediocre product or service but because you are the only one offering it your business could be a success. Which image do you want for your brand?
If it is the former but your current address is Jersey City, your customers do not need to know that you are located in NYC’s taunted neighbor sending out orders for your New York fashion brand T-shirts and accessories. Slap an NYC return address on that package and let your customers rest at ease knowing that this product comes from their favorite fashion capital.
2. Prove legitimacy
Beyond brand value, if you are working out of a home office, you might be cutting costs and avoiding commutes, which is great, but businesses located in business districts with real offices and receptionists who pick up the phone and take messages give customers piece of mind.
Do you have customers shipping and receiving packages to and from your business in your residential neighborhood or in your small town? Do their phone calls go to voicemail frequently because you were busy or did not hear your phone? They might be understanding that having a home business or an office in a small town does not reflect on the quality of your service or product or that your business is still at its infancy. The problem is that you do not know how many customers you are missing because they look for and feel more comfortable with a business on Madison Avenue, even when they are located in North Dakota or Dubai and have no intention of stopping in.
Also, if you are located near your virtual office space, you can often also rent a meeting room at the same address to which your mail is sent and this means that when you meet with clients, it is in a professional setting rather than a noisy coffee shop or your living room.
3. Axe office rental costs
At the end of the day, the purpose of any business is to make money. A virtual office is cheap compared to renting actual office space. If your costs are less, your profit is more. It is that simple.
Nationally, in 2013, renting office space costs about $23 per square foot. In New York, it was more than double that at about $50. Virtual office services generally run from $100-$300. If we do the math, for a basic virtual office service, you can pay the same amount you would pay for just over 4 square feet of office space paying the national average or just over 2 square feet of office space in New York City. For the cost of 2-4 square feet of office space, you can look like a business that pays thousands of dollars a month to put your brand on the entrance of a building.
4. Skip the commute
If you want the benefits of an actual office space for meeting with people, adding value to your brand and legitimizing your business but you do not want the dreaded commute to and from the office, a virtual office is a great resource.
The average American spends 200 hours commuting to and from work. However, that is based on a 45-minute commute. In big cities like Los Angeles and New York, the commute can be closer to 70 minutes on average. If it is possible for your business, stay home. Maybe you can even put that time into more business productivity, which could mean even more profit.
Another added bonus of not having to go into the office is saving on costs. The average American spends over $2500 on their commute to and from work per year. In big, traffic-congested, sprawling cities with the longer commutes, this cost is even higher. Why create unnecessary costs? Do not just put your time to better use by not commuting every day but save money or spend it on things that will lead to more revenue for your business because, unless you have a personal driver, chances are that your drive time is not so productive.
The best part? Your clients will not even know you are at home working at the kitchen table or at a business meeting in Shanghai. With a virtual office, if you live close to it, you can meet clients there when you have a meeting scheduled and otherwise be at home or anywhere. You can have a receptionist answer calls for you and take messages so when you are busy with another customer or traveling, your clients are not talking to your voicemail feeling ignored.
At the end of the day, it is important that you have a business that is both profitable and works with your lifestyle. By utilizing a virtual office service, you can add value to your business by giving it the big city address on a small business budget. You can also save time and money by reclaiming your time and the cash you spend on your commute. If you do not need to meet in person with clients daily at your office and want to have the flexibility to work from anywhere while having a centralized place for your mail and phone calls, consider making your life easier and getting a virtual office space.
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