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How To Utilize Virtual Office Space For Your Business
March 11, 2020

How To Utilize Virtual Office Space For Your Business

For small business owners, working from home provides many benefits in terms of added convenience and affordability. However, it has one distinct disadvantage; working from home can de-legitimize your business in the eyes of certain clients.

Fortunately, there’s a way you and your team can work remotely while still maintaining a professional appearance; utilizing a virtual office services your business.

What is Virtual Office Space?

With a virtual office address, you’re not renting an actual office. Instead, you gain access to virtual services that you can use while working from home.

With a virtual office space, you gain access to a business mailing address, a professional phone number, meeting rooms, and video conferencing services. However, the services offered can vary depending on the provider, so make sure you know what you’ll be getting right from the start.

A virtual business address allows you to maintain a more professional image for your business without having to pay for office space or support staff. This makes virtual offices a popular option among startups and small businesses that are trying to reduce their overhead.

Plus, this can lead to increased productivity for you and your team. You won’t have to spend your time commuting to work or managing the daily tasks that come with running a physical office.

What Is The Benefit of a Virtual Office?

If you’re not familiar with the concept of virtual offices or working remotely, you may wonder why anyone would choose to go this route. Listed below are some of the biggest benefits of using a virtual office space.

Virtual Office Addresses Provide Credibility

You know that you’re capable of meeting the needs of your clients and customers, but appearances do matter. Unfortunately, some people will view your business differently if they know you run a remote team.

This is where a virtual office address can be useful. You have a physical address to give your clients and access to phone services, which can give your business a more prestigious appearance.

When it comes time to choose your virtual office address, it’s a good idea to pick a location that’s centrally located. This won’t only create a good first impression for your clients, but it’ll make the occasional in-person client meetings easier.

Work From Wherever You Want

Working from home used to be pretty rare, but it’s become much more common in the past five to ten years. That’s because increasingly, people are recognizing the many benefits that come from working from home.

Having a remote team won’t only save you money, it can also increase the productivity of your entire team. One study found that employees who work from home are less idle and take fewer breaks during their workday.

Another benefit is that your employees get the flexibility to choose their own working hours and work wherever it suits them. This will likely keep your current employees happy, and make your business a more attractive option for future employees as well.

Drop Commute Time To Zero Without Looking Like A WFH Business

If you hate commuting to work every day, then you’re not alone. One in four employees has actually quit their job to get out of their daily commute.

According to CNBC, the average commute time in the U.S. is 26.1 minutes. That may not sound like much, but it’s over four hours a week just spent driving to and from work every day.

If you live in a larger city, you can expect your daily commute to be much longer. Washington, D.C. tops the list with an average car commute of 43.6 minutes.

With a virtual office address, you can get rid of your daily commute without letting your customers know you’re a work from home business.

Support For Your Business

One of the biggest benefits of virtual offices is that you gain access to support, like an on-site receptionist and phone service. Plus, the on-site staff can collect, sort, and forward your mail for you.

In addition, you have video conferencing services and access to meeting rooms for when you have to get together with clients. You’ll gain these services at a fraction of what it would cost to hire full-time support staff.

A Lack of Long-Term Commitment

If you signed a lease for an office space you’d likely have to commit to renting that property for several years. This can put your business at significant risk because your options are limited if you suddenly need to downsize. You’ve committed to leasing that property for a set period of time.

In comparison, virtual office space doesn’t come with any long-term commitments. You can lease these services on a month to month basis and cancel anytime you need to.

Simple Business Expansion Opportunities

When you work out of an office, it’s always a struggle to make the best use of that space. You want the furniture and equipment set up in a way where it’s convenient for all your employees.

As your business continues to expand, you may start to outgrow your current space. Then you have to decide whether or not you want to upgrade to a bigger location. But upgrading locations means you’ll have less money to put toward other expansion opportunities for your business.

You won’t have any of those problems with a virtual office address. Since your entire team is remote, you won’t be limited by your current office space, and you’ll have more money to scale and put toward other opportunities.

Availability for Larger Pools of Talent

Working remotely greatly expands your hiring opportunities because it gives you access to a much wider range of potential candidates. When you manage an office, you’re largely limited to individuals who live within city limits.

But what if your dream candidate lives in another state or even another country? This isn’t a problem if you run a remote team because you can work with that person virtually.

A Far More Cost-Effective Option

It’s no secret that employee salaries are often the highest cost businesses have to bear. Of course, hiring employees to help run your business is an expense that can’t be avoided. If you’re in the beginning stages of building a business, you’ll have to look for other ways to cut down on your business expenses.

By choosing not to lease an office space, you could end up saving yourself thousands of dollars on rent every year. Plus, you won’t have to pay to furnish the office or pay for utilities every month, and you won’t have to pay for administrative staff to run the office.

Our Last Words on Virtual Offices

If you want to maintain a professional image for your business but don’t want to rent an office, then a virtual office could be the perfect option. A virtual office provides many of the benefits of a physical location, but you get to work remotely and pay a fraction of the costs.

Keep in mind, that the services will vary depending on the virtual office space you choose. So be sure to consider all your options and choose the one that works best for you and your team.

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Frequently Asked Questions

What is a virtual office?

A virtual office space is a service that makes it easier for you and your employees to work remotely. Instead of renting an office, you and your team will work from home and utilize a virtual office address.

With a virtual office, you gain access to a business mailing address, a telephone answering service, and support staff. This allows you to maintain a professional appearance with clients and acquaintances while saving on overhead.

What kind of services comes with a virtual office address?

The services offered will vary depending on the virtual office space you choose. Here’s a brief overview of the services that may be included:

  • Business mailing address:

When you pay for a virtual office, you gain access to a business address in a central location. This can help you make a better impression with potential clients.

  • Professional answering service

You also gain access to a professional answering service. When your clients call with a question or to set up a meeting, the on-site staff can redirect their call or take messages.

  • In-person support staff

The on-site staff can schedule the meeting rooms for you, receive mail, and take phone messages. This is a huge benefit because you gain access to these services without needing to pay for full-time employees.

  • Meeting rooms

You may be content working from home but there may be occasions with you need to meet with a client in person. A virtual office space often comes with meeting rooms that you can use. That way you have a private office where you can meet with clients.

What are the benefits of a virtual office space?

Here are some of the biggest benefits of utilizing virtual office space for your business:

  • Convenience

With a virtual office, you and your team have the flexibility to work from home full-time. This means you can skip the daily commute and work on your own timeline. Plus, studies have shown that working from home makes employees more productive.

Remote jobs are in-demand, so your business will seem more attractive to potential job candidates.

  • Cost

Renting an office space can cost you thousands of dollars every year, and that’s not including the money you’ll have to spend on furniture, office equipment, supplies, and utilities.

A virtual office address will give you many of the same resources at a fraction of the cost.

  • Professional image

Although working from home has become more commonplace, some clients may take your business more seriously if you have a business address. A virtual office address will give your business a more professional appearance to your clients and associates.

  • Additional hiring opportunities

When you run a virtual team, you have access to a wider pool of potential job candidates. If your ideal candidate lives in another state or country, you can still work with that person remotely.

  • More resources to scale

Because your business isn’t tied to a physical location, you don’t have to worry about upgrading your location as your team continues to grow. Plus, since you’re not spending money on leasing a space, you’ll have more resources to put toward other business opportunities.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].