Virtual Offices, or “VOs”, allow an organization to have a prime physical office location in a great city. Virtually. So, as an example, to the outside world your organization has an office in the iconic Time Life building in the heart of Manhattan. Yet you and/or your employees are in fact, working in your apartment across the river in Newark.
So, for between about $50-$500+ per month, depending on various add-ons, you can have a high-end business presence, a virtual receptionist, and even drop-in privileges when you need to meet in person. But is that too expensive? Well, let’s look at a few things you are not paying for with a Virtual Office:
Rent
According to TheSquarefoot.com, $5,000/month will get you 800 square feet of office space in New York City, and about 1,800 square feet in Miami. Even a smaller space will cost you at least a couple thousand dollars per month. And, remember, you are locked into a contract that may or may not be a good fit downstream. Equipment/appliances (copiers, fax, fridge, microwave, etc.): $3,000+ depending on the size of your office space and needs.
Receptionist
$2,000+ per month. In the brick and mortar world, someone has to be up front to greet visitors and route incoming calls.
Parking
Usually your lease includes a few parking spaces. But you’ll pay plenty for extra spaces. Parking can become a big burden; especially if you have to pay for spaces you don’t use.
Just in case you are still on the fence, VOs also allow you to take advantage of some of the best new talent, which, odds are, is not conveniently located. A recent report from the Global Workforce Association found that 80%-90% of the U.S. workforce says they would like to telework, at least part time.
The bottom line? Virtual Offices cost a fraction of traditional leased office space. And, with the right VO provider, you should have access to meeting space, coworking space and even that private office when you need it. More and more entrepreneurs and managers are finding out that the only thing expensive about Virtual Offices is, well, the alternative.
So, the only question left is: In what awesome city do you want your Virtual Office located?
