Ten years ago, no company would have dreamed of operating a business without an office or work space for employees to use to accomplish daily tasks. Now, the idea is a little less far-fetched. More and more companies, especially small start-ups are doing a normal day’s work from a virtual office. For many traditional owners and managers, the idea is still a little strange. Are you still skeptical? Here are five ways a virtual office can help your business.
Low Overhead Costs
The costs of running an office can be quite steep. Rent, utilities, computer equipment, phone service and office supplies can really add up, especially for a new company without much revenue. In many areas, virtual office services are significantly less than the cost of operating an office, creating a larger margin for profit and freeing up income to put towards marketing, research and development costs. For a small business looking to cut corners, a virtual office could be the answer.
Without a physical office to go to for work in the mornings, employees have more flexibility in their schedules. When an employee can put in the equivalent of a full day of hard work without leaving home, they are far more likely to be productive, especially for employees expecting a baby or with a young child, in the process of moving, or facing a family crisis.
Ability to Expand
For companies with a traditional work space, hiring more employees means on-site training, expensive equipment, a new phone line or computer, and hours spent coaching and guiding. With a virtual workforce, training is often done through a host company and employees have their own office equipment. When all you have to pay is an hourly wage or, in some cases, a flat rate to a host company, the costs of expanding a workforce decrease significantly.
With a virtual office, keeping paper records is rather irrelevant. This reduces the amount of waste a company uses. This also true for electricity: with a virtual office, there’s no need to keep the lights on in a massive office space all day. Cutting down on these expenses is beneficial for the earth and for a company’s bottom line. Customers might not be interested but for earth-conscious business owners, going green is a plus.
With a virtual office, some small business owners might be worried about the lack of space to meet clients. Most virtual office companies offer a high-end, professional conference space for exactly this purpose. This solution can provide a great first impression for the occasional meeting without bringing guests to your home or the expense of renting office space.
There are many benefits to using a virtual office for a small business. Overhead costs are reduced, expansion is easier and it creates a more flexible environment for employees. The potential upsides outweigh the costs for many new start-ups or small home-based businesses. In the virtual era of rapidly growing technology, using a virtual office is a great step forward in helping a new company succeed. Executive Suites are another option, when leasing an executive suite you will be provided with all the furnishings and technology you’d expect to find in an enterprising office without having to purchase them yourself.