Recent years have shown that people can work from nearly anywhere, be that a home office, coworking space, coffee shop, restaurant, or really any place with a socket and internet connection. The office worker of today no longer wants to be confined to the traditional workspace. In turn, employers are also thinking twice before committing to a 10-year commercial lease.
Naturally, as the demand for flexibility grows, so does the number of options companies have when it comes to finding a home for their business. Some of the most common things they consider when searching for office space include location and costs. And that’s no wonder: having a downtown address or one in the heart of a financial district or even on a prestigious street is among the markers of a trustworthy, well-established business.
Such prestigious areas come with a price, however – and we mean that quite literally. Office space in the most sought-after locations tends to cost an arm and a leg.
Luckily, there’s a simple workaround that lets you reap the benefits of a downtown address without the usual overhead costs of an office rental, and this is where virtual offices come into play.
What is a virtual office and how does it work?
A virtual office is a service that allows businesses to enjoy some of the perks of a conventional office without having to pay for a full-time office rental. Among these perks, we count a business address, a place to receive mail and packages, together with access to conference rooms and physical workspaces.
Some even provide extra services such as onsite or remote receptionists, virtual assistants, a business phone system, and many others. More often than not, virtual offices are physical offices or coworking spaces that let other businesses use their address.
With a WeWork Business Address, for instance, you can create a commercial presence in any of the 170+ WeWork locations in the U.S. or Singapore. You receive a dedicated business address, mail and package handling, as well as two credits per month to book coworking space and meeting rooms. In this way, you’ll be able to work from anywhere in the world, but your business will still be associated with a stable WeWork office building of your choosing. The key element of virtual offices is the business address. It can serve various purposes, from registering your business and setting up an LLC to marketing, opening a bank account, receiving mail, and meeting clients or coworkers. In theory, all of these can be done from a residential address. In practice, however, an office address will more likely leave a positive first impression on clients, investors, and new hires.
Who uses a virtual office?
The average virtual office user can range from freelancers, bloggers, and digital nomads to startups and small businesses that are not confined to a fixed location. Most of these individuals and teams are comfortable working remotely but still need an office address for official purposes and to boost their professional image.
Virtual offices are budget-friendly, which makes them ideal for solo entrepreneurs or budding startups still lacking the capital to secure a physical office.
The advantages of a virtual office
As we’ve seen earlier, central locations and attractive prices are among the first things that prompt businesses to choose a virtual office.
The list of advantages continues with flexibility – you can run your business comfortably from anywhere you are but still have access to convenient resources, like conference rooms at the business address, if and when you need them.
In addition to these, virtual offices require minimum commitment, which, in the case of a WeWork Business Address membership is a 6-month term. Similarly, they help you separate personal assets from professional ones, thus reducing legal liability.
Virtual offices also serve as catalysts for productivity. And how could they not, when they empower you to work from any location that boosts your flow and creativity? And while you’re on the move, your virtual office will help you build and maintain a professional brand image with an air of legitimacy and credibility all thanks to a commercially recognized address.
All in all, there are many cases in which switching from a traditional office to a virtual one is the most reasonable thing to do. Whether you’re a well-established business looking to save money or you’re just starting your company and want it to be registered with an office address, a WeWork Business Address membership could be just what you need. This way, funds typically allocated for maintaining a physical space can be invested in business growth instead, while you can continue to work from wherever you like best, only popping into the office for the occasional team or client meetings.