Your Questions, Answered: What Is a Virtual Office Space?

Melbourne Business Centre

virtual office space

Office space is an overhead expense most small businesses can’t afford these days. Rates have risen to an average of $1,000 per sqm. You won’t get a great deal of space for these prime rates, either.

It feels like a hopeless cause at those prices. You need to meet clients but can’t afford to rent your own office space. 

So, what are the options if office space isn’t in your budget? 

It’s time to consider virtual office space. This is an old concept that’s making a comeback in the face of skyrocketing office rental rates. But, people seem confused by the title.

Now, you’re wondering what it is. Read on to find out!

What is Virtual Office Space?

It’s all the benefits of having an established office without the high price tag.

Virtual office space is a physical office location. It offers you services and space to use for your business. The idea is that the cost of those office services spread out among many business owners.

These are people who own a small business but can’t afford to fund an entire office space. So, for a lower price than renting an office, they can still enjoy the benefits of working in one. 

Who Needs It?

Many business people can enjoy a virtual office. Freelancers, start-ups and small businesses that don’t need much space are a few.

Typical users share a few of these traits:

  • They travel for business but need a space when in town
  • They do freelance work for several clients
  • They need a physical business address
  • They’re starting out or growing their business
  • Working on building brand and credibility in their field
  • They meet with clients on an as-needed basis

These are only a few of the more popular reasons to choose it. There are plenty more reasons you might need a virtual office. 

What You Get

There are many services offered in virtual office spaces. Though, they do vary from location to location. Here are a few things that are usually included in the rent package.

  • Offices or desks to use as needed
  • Conference rooms and meeting rooms
  • Quality office equipment, such as copier, printer, and fax
  • Phone line with answering service
  • Mail services
  • Physical business address
  • Receptionist
  • Some cloud services for electronic files and messages
  • Lounge with snack and drink services

In your research, you may find even more benefits. Check out a few virtual office solutions to find one that offers the services you need.

The Benefits of Signing On

One of the biggest benefits is that you can get set up in an established office within a matter of hours! Once you contact your virtual office company, they’ll usually set you up within 24 hours.

Location

A great benefit to some businesses is the location of their office. Is it important for you to conduct business in a certain district? Those office space rental costs might be off the charts.

But, a virtual office could be in the right district at a reasonable price. It might be the solution that puts your business on the right map at the right price.

Networking

There’s something valuable to say about the social aspect of working in an office. You can’t meet new people in a home office. But, a virtual office lets you mingle with professionals.

You’ll be around like-minded business people. Those who are working toward success and growth in their small businesses. Imagine the networking possibilities when you meet your fellow virtual office workers!

Establishing Credibility

One of the hardest things about being a startup or new business is getting established. A physical address in an established office building can help.

You’re new, but that doesn’t mean you don’t know your stuff. Set yourself up for success with a virtual office. When you meet clients or hand out business cards the address will speak for itself.

Saving Money

A virtual office is a cheaper alternative than renting and furnishing office space. But, this is a greater benefit than you might think. The money you save gets reinvested into the very thing you’re trying to grow: your business.

You can pay for the space weekly or monthly, and the rates are for only the services you need. So, take that leftover money and reinvest it. Let it help you build a thriving business!

Staff without Payroll

If you rent an office, you’ll need to hire a receptionist to work at the front desk. You may need an office manager to run the office, too. That means hiring someone and all the headaches that come with it.

Not in a virtual office space. The office hires everyone needed to run the space for you.

And, it’s part of the services you’re paying for. Without getting involved in payroll and hiring.

Flexibility

You can choose the services you need. Most virtual offices have plans that you can choose from. So, your money goes for only the services you’ll use. 

The other flexible part of the deal is your contract. You’ll pay for the space month to month, so you can leave anytime you’re ready!

When is it NOT the Right Choice?

It’s true. Virtual office space might not be right for everyone. Here are a couple of situations where you may not find it suits your needs.

You Need Inventory Space

You’ll not find a virtual office that has a huge storage space. You can’t keep inventory on hand, there. 

Don’t count virtual office space out yet, though. It might still be a good choice for other reasons. But, you’ll need a storage space elsewhere for your inventory.

You Have Employees

Employees need workspace to do their jobs. But, getting more than one desk at the virtual office isn’t usually available. If your business has grown to include employees, you may need to look at other options.

Don’t decide a virtual office space won’t work, yet. Ask about it, first! You never know until you ask.

Go Ahead! Give it a Try!

You don’t have much to lose. With flexible rates and a month to month commitment, you can give it a try without much invested up front.

Find virtual office space in your area and check out the rates. Then, give them a call!

Looking for a virtual office solution in the Melbourne area? Contact us for more information.



Return to Articles