A virtual office provides a physical office address for freelancers and other remote workers who want to have a physical address without getting a dedicated office space. Virtual offices are useful for getting postal mails, legal address issues, and showing a company’s physical presence on paper. Virtual offices can also be used to hold meetings with people when holding electronic meetings is not an option.
Virtual offices are a must have for professionals who work as consultants, freelancers as well as sole proprietors of a business who require a physical address but do not want a dedicated office space for their business. The physical address is useful for sending and receiving mail, receiving parcels addressed to the company and holding physical meetings with clients. Virtual offices also provide some additional benefits which are not available when working from a home office.
Why do we need Virtual Offices?
Here are some of the uses of virtual offices:-
Increases the Credibility of a Business
If you have a good business address using a virtual office then it makes sure that your brand is credible and professional. Many people also judge the credibility of a company by looking at its business address. If you have a credible physical address and an office phone number on your website as well as on your business card, then it increases the credibility and trust of your company and provides a good image to the clients. This way, the clients will approach you more than your competitors.
If you choose to have your virtual office address in a location that is posh and well known then it increases your chances of scoring a client and creates a good impression on people who search for your business in search engines and elsewhere. If you are a digital marketing agency and you operate from your own home office then it will be more suitable to have an office address in a good financial area of Delhi than a residential address.
Work From Anywhere
Virtual offices are also useful for people who travel and work as digital nomads. In the case of a regular office, you are bound to work from a single place but if you have a virtual office, your business is grounded at that particular address but you can work from any part of the world you want. If you can operate your business from anywhere using the internet and you still have to be located somewhere permanent then a virtual office can help you a lot.
Regular office goers know the pain that they face due to the daily commute to their offices. If you have a virtual office, you can technically work from your home which solves the problem that many people face with the long commutes to their offices. Additionally, if you cut your commute then it helps the environment by reducing CO2 emissions and your carbon footprint. You can use the time wasted in traffic on something useful for your business.
Increase Satisfaction & Productivity
The employees are an integral part of any company and they should be given the best possible environment to work from. Virtual offices are the best option for you as they give your employees the option to work from wherever they want as long as the work is being done. This will save your employees’ time as well as money and will allow them to have a more flexible work-life balance. Virtual offices help to increase the productivity of employees
By cutting the distractions that they can face in the workplace and help them become more engaged by letting them work in a familiar environment and getting rid of a monotonous routine of waking up every day and coming to the office.
Larger Talent Pool
When you are hiring employees to work from a regular office, there are restrictions on the area where the employees are located from. We have to hire employees from a fixed location as they have to travel to the office. But in the case of virtual offices, this problem is eradicated as the employees can work remotely without coming to the office. Also, once you reach a fixed number of employees, you have to move to a bigger location in the case of a regular office but you are free to hire as many employees as you want if you are using a virtual office. You can now select employees from a much larger talent pool than before which can help your business to grow.
One of the primary reasons why people choose to have a virtual office instead of a regular office is the cost-effectiveness that is provided by a virtual office. You can have a prestigious business address without worrying about the huge monthly rents that come along with it. Also, virtual offices help you save up on utility bills, property taxes, transportation and much more. It also saves up the need for human resources like receptionist and maintenance personnel. The money saved by opting for a virtual office can be put towards the growth of the business and to build assets instead of draining the money into liabilities.
As mentioned before, virtual offices do not pose restrictions on the number of employees that your business can hire so you can hire as many employees for your business as you want without moving to a bigger office. This way, the process of expanding your business becomes low cost and more effective. In traditional business, when there is a relocation, the employees generally take time to get comfortable with the new environment which can hamper their productivity for a few days but that isn’t the case with virtual offices as the employees work from a familiar environment every time.
No Long-Term Commitments
Virtual offices can also be helpful if you want to expand your business to a new location. This will help you to hire employees that are located there without renting physical offices in that area. You can test out the markets of new locations without relocating so you don’t have to make long term commitments and can back out easily if things do not go as planned earlier.
Pros and Cons Of having a Virtual Office
Pros of Virtual Office
One of the largest pros of having a virtual office over a physical one is the pricing. All kinds of businesses small and big are in search for ways to reduce their cash outflow. Virtual offices can provide just that by eliminating the costs that a physical office causes.
The second advantage of virtual offices over physical offices is that you do not have to manage everything that goes on in the office. You don’t have to hire a full-time receptionist and HR representative to manage your employees. A virtual office comes with the benefits of focusing on work instead of unproductive management issues.
Cons of Virtual Office
The only and the major con of having a virtual office is the lack of physical space. If your business requires a physical space for its operations then a virtual office may not be the way to go. For example, if your business needs physical servers to be installed then it cannot be done from a virtual office. Also, most of the companies working from a regular office are now allowing their employees to telework so there is less need for virtual offices in such businesses.