How Do Virtual Offices Reduce Costs for Small Businesses?
For small businesses, the difference between good and great financial performance can come down to how well costs are managed. Starting a business is expensive, and many fizzle out quickly by letting their spending outstrip what they take in.
One way to manage your small businesses costs effectively (without impacting your professional image) is to use a virtual office service. Let’s go over just a few benefits of virtual office services, and how they can reduce costs for small businesses.
Professional address for minimal cost
For many small businesses, operating from home is very effective at keeping costs down, but it comes with a downside: potential clients might be turned off by a residential address.
With Google Maps and Google Street View, people can easily find out if your address is for a residential building, and may write you off as unprofessional and decide to cross you off their list.
If running your business from home works well for you, signing a 1-3 year lease for an office just to get the business address is a waste of money. In the vast majority of cases, virtual office costs are miniscule compared to the cost of leasing an office.
Monthly rent for office spaces varies widely by location, square footage, demand, and other factors. If you’ve looked into leasing space in your area, you probably have a good idea of what it would cost your business.
With a virtual office, you’ll get a business address to help you maintain a professional image (and as an added bonus, you don’t have to give out your home address to strangers).
At Premier Workspaces, we collect your business’s mail and packages for you to pick up at your convenience. Unlike a P.O. box, our virtual office addresses allow you to receive packages from all couriers, including FedEx and UPS, so your clients and business partners can use the courier of their choice to send you packages. Don’t want to come in to pick up your mail? We also offer forwarding services.
The bottom line: a virtual office can save you money on rent and prevent you from losing out on potential clients.
Client-facing staff without the payroll
When a client calls your business, they likely don’t expect you to be working the phones yourself. With the right virtual office package, you can add some legitimacy to your growing business without the major costs associated with employees.
At Premier Workspaces, we offer phone answering services, including call forwarding. With our professionals answering the phones, you’re much less likely to miss an important call like a new lead reaching out for information.
Leveraging an answering service can save you a significant amount of money as well. The median salary for a receptionist is $36,664, so an answering service that’s bundled in with your virtual office is the clear choice for small businesses who can’t afford to add another person to their payroll.
No need to pay for empty conference rooms
For many businesses, face-to-face time with clients is a routine occurrence. When those times come, you’ll want to have a professional meeting space that will reflect positively on your business.
Many Premier Workspaces virtual office packages include use of conference rooms or other physical spaces on a daily or even hourly basis. And when your clients come into the office space, they’ll be greeted by staff at the front desk (just another instance where you’re saving money by not having to pay a full-time receptionist).
Even if meeting with clients is somewhat infrequent for you, it’s nice to have the option available without paying for a conference room to sit empty most of the time.
When a business is starting out or ready to grow ambitiously, keeping costs down is critical. When you add up all the money a virtual office can save you, it becomes pretty clear that it’s a wise choice for managing your costs carefully without having to give up necessities for growth.