A virtual office is an office that does not exist physically. You can think of it as more of a business address. It is a service that lets you use office services, space, and addresses. You can run your business online, making everyone feel no different than a physical office. The price of any business services you use is very important to calculate the total budget. This price directly affects the total running cost of your business. It can increase or decrease your overheads. Let us get to know more about how it affects you when you are opting for a virtual office.
If you are a startup or a homerun business getting a posh business location can be hard. All the good locations are very expensive. The commercial utility cost, staff, office equipment, and office furniture, are some of the costs that are additional to the rent of the office space. Startups and small businesses are usually owned and run; either by solo owners or by two partners. Sharing the cost and the responsibilities can be a lot to handle. Your mind and pocket will be exhausted.
The best possible solution to handle all these issues is to get a virtual office. You will get a prestigious business address, mail handling services, reception services, shared office space with all the facilities, and much more.
All your business calls will be handled by; professionally trained operators. It will create a very strong impression on your customers and increase their trust in you. All your confidential mail will be received, handled, and sent to you.
You also get access to services like conference rooms and meeting rooms. You can easily conduct conferences and seminars without having to worry about arrangements. The shared office space also provides you with phone lines, printers, computers, fax machines, and photocopy machines. If you want to use any of these services, or just workspace you can do so easily using a virtual office.
A virtual office is also great for the scalability of your business. Opening a new branch in a new area; means double the expense, and effort, with uncertain success. The best option is to use a virtual office in that area. You can get to check how deep the water is in the new market.
Another amazing feature of a virtual office is you can end the service any time of the day without blinking an eye. When you have to end your lease with a conventional office building, there is a lot to loot after. Many papers are to be signed; deposits are to be handled, etc. It is as much of a hassle as getting the lease. But with the virtual office, things are different and easier. A virtual office is a subscription-based service. To start the service, you need to subscribe to the website, and to end the service, you just have to unsubscribe on the same website. You don’t have to give any prior notice about unsubscribing the service. Nor are there any legalities or deposits to handling.
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Price of a virtual office compared to conventional office:
It is quite obvious that the cost of setting up a physical office is very high as compared to the virtual office. For a physical office, you need funds to rent, lease, office renovation, office equipment, utilities, staff, and maintenance. The accumulated total cost is huge.
Compared to this cost, the price you pay for a virtual office is just peanuts. You just have to pay a very affordable subscription charge that covers all the services. That is one of the reasons for the increased popularity of virtual offices.
How to choose a virtual office based on price:
Cost plays a major role in the decisions you make for your business. You cannot take the road that your resources don’t allow. For a startup, resources are limited and expense is a lot. In such cases, you need to look for windows where you can find the most feasible solutions. A virtual office is one such window of opportunity for your business and one of the reasons is its affordability.
Before picking a virtual office service, understand your requirements completely. Only then will you be able to make the right choice. List the facilities you want from your virtual office. After that, you should shortlist the service providers that offer those features. Next, compare their package prices to select the most suitable one.
But don’t get fooled by cheap rates. Sometimes cheaper rates mean poor quality; this may also mean hidden charges. We all get excited at cheaper rates; I mean who doesn’t want to save a buck or two. However, most of the time, it is either poor quality services or you will be charged for things not mentioned before.
Don’t also get excited about higher rates either. Some companies charge a lot just to give the impression of high-quality services. Make sure you don’t fall for their show. We usually think higher rates mean quality, but the package may have features that you would never use, making it the least feasible solution.
What we recommend is the middle ground. Look for virtual offices with the features you need and prices in the middle range. These are the providers that have a direct approach. They don’t overcharge just to get into the league, nor do they undercharge just to attract customers.
Having said that; there is no hard and fast rule to pick a virtual office. A high price range might work for some businesses and not for others. Similarly, cheap services might be a good bet for some while it might not work for others.
The overhead cost is vital in your business. A virtual office is a service that helps you reduce that cost. But even then, to make the best choice, you need to understand what you want. That is the baseline for all the above discussion. Once you understand your requirements better, then you can make the best choice.
After that, you only need to compare the features with the price you have to pay. Choose the plan you think is good for you and subscribe. Do your research and ask around about the service you want to pick. It will guide you towards the correct decision.
In the end, if it doesn’t work out, just simply unsubscribe. That is the beauty of the virtual office; you are not stuck with a wrong decision. You can undo it without much loss.