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Even in a struggling economy, more and more professionals are starting to see the many benefits of virtual office space and it’s growing in popularity. Executive suites are finding much of their revenue coming from professionals who are using a virtual office space as the new and professional-looking home base of their business. It's a fast, easy, and low-cost way to help companies project the prestigious and professional business image they need. Could a virtual office be a good option for your business and your bottom line? The Pros of Virtual Office Space 1. Cost: When your business is mostly home-based, the cost of a lease is an outlandish expense, especially if you only use that space for meetings, or to give you clients an actual street address. The advantage of the virtual office space is that costs only a fraction of the overhead. The other advantage is that you arrive at your virtual office and find that it is already set up for you. You have the equipment, technology and personnel you need to get started right away. 2. Growth and expansion: With a virtual office space, you can leverage the flexibility and convenience you need to keep growing your business. As soon as you need more space, you can expand, without having to shop for a whole new lease. 3. Image: Usually, a business has to choose between an office that is affordable and an office that is attractive when leasing. With a virtual space, that choice is no longer necessary. 4. Technology and service: Virtual offices come with state-of-the-art technology (including in-house IT support) included! You'll get concierge support on staff, catering, high-end teleconference equipment, and high-speed internet access as necessary that you pay for as you need. The Cons of Virtual Office Space 1. Not every business can leverage the power of a virtual office space. 2. No exclusivity: Because a virtual office is an office in a setting shared by other renters, you'll be sharing resources and staff. 3. Less privacy for clients: A virtual office might not work for your company if your clients require discretion. 4. Less control over environment: The virtual office, while arranged to specifications, is still in the end a rental environment. You will not have control of design and style, personnel decisions, technology decisions and more. While the pros far outweigh the cons, make the decision to take the leap to a virtual or executive office carefully.
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