Is Virtual Office Worth It In 2022? Definition, Overview, and Benefits

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Is Virtual Office Worth it? Certainly yes. Technology has shifted the way companies operate. One such change is the mode of running a business. From the traditional physical office to an infusion of both, virtual office space has become very popular, saving the overhead of a long lease and administrative staff.

A virtual office combines the features of a physical office with an online office. You have a physical space operated online.

In this article, you will learn how to use virtual office space as a beneficial tool for your business.

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What is a Virtual Office?

A virtual office is a company that offers businesses working remotely the opportunity to have a physical address.

It provides work-related services without the cost of running a traditional office space. The aim is to offer their business place on rent to companies or individuals seeking such services at an agreed price.

Virtual offices emerged from serviced offices. A serviced office is an office building, fully equipped and managed by a facility management company.

Virtual office providers have different professionals that work with them. Examples of professionals you can find there include office assistants, accountants, and lawyers.

Features of a Virtual Office

The following are 6 key features of a virtual office:

  • Access to a professional business address
  • Call and mail forwarding
  • Access to meeting rooms
  • Physical office workspace
  • Access to different locations
  • Network growth

1. Access to a professional business address

One of the key features of a virtual office is that it provides a legitimate physical address where you can legally register your business. A verifiable business address can boost your credibility.

2. Call and mail forwarding

Most virtual office providers have receptionists that respond to calls and inquiries. This gives your clients the opportunity to speak with an assistant. You can register a business phone number and choose a call service that suits your work and lifestyle.

Some providers receive emails on your company’s behalf. You can always stop by to pick them up or have them mailed to your home address. They can direct important calls and messages to you.

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3. Access to meeting rooms

Another important feature of a virtual office is the ability to access meeting rooms and conference facilities that are available for hire.

If your work requires physical, professional space for a business meeting, virtual office spaces have shared meetings and conference rooms that can be booked hourly, daily, and weekly.

4. Physical Office Space

Virtual offices also have temporary office spaces. You can rent an office, a desk, or a conference room temporarily.

This space could be a private office space or access to a business lounge. It all depends on your business needs.

In addition, they provide permanent desk spaces, coworking spaces, and hot desk facilities, amongst others. A virtual workspace has various amenities and office facilities that you can use.

5. Access to different locations

Besides physical space, access to different office locations is another service often included with a virtual office service. This feature ensures you access to multiple office locations and suits people who frequently travel for work.

While some companies provide access to meeting lounges and rooms in different locations, others include private offices and coworking spaces.

6. Network growth

Networking is a great way to share best practice knowledge, learn about new business techniques from your peers, and stay on top of the latest industry developments.

Some virtual offices like Regus and Rova offer networking sessions, virtual events, and social opportunities.

What are the Types of Virtual Office Space?

The following are types of virtual offices that you can choose from:

  • Private office space
  • Coworking space
  • Meeting and conference rooms

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1. Private office space

Private Office Space is a virtual office that gives you the luxury of a quiet environment. It gives you a private space where you can carry out your work.

You can organize and have a business meeting with a client behind closed doors.

Coworking office space

Some providers give you room in a neutral office to work independently on your project. A coworking office space gives you access to machines and equipment like printers, scanners, fax machines, and internet services.

Generally, this is an open space arrangement where you choose a spot and get on with your work.

Meeting and conference rooms

Some providers offer meeting and conference rooms at a price. These meeting and conference rooms are helpful when hosting guests for an important business deal. Moreover, service providers equip conference rooms with office tools.

What is the cost of a virtual office?

The cost of a virtual office ranges from above $30 to $1,000 per month, depending on the provider, location, and feature. For instance, Corporate Suites New York prices range from $89 to $1,900 per month.

Alliance Virtual Office Broadway, NY, starts from $54/month, while their LA service starts from $100/month, both with a one-time setup fee of $150. Another provider, iPosta1, offers services ranging from $39.99/m to $699/m with no additional cost.

The bottom line is that it all depends on the location and your business need. A single virtual assistant service could cost between $1 to $2 per hour.

How to choose the right virtual office space

If you’ve decided that virtual office space would be great for your business, it is important to find the right fit. There are differences in the service plans providers offer. It is therefore important that you select a perfect plan that meets your company’s needs.

The following are checks that should guide you while looking for a virtual office space.

Location

Your virtual office space should be located in a central and accessible location. It should be convenient for you, your team, and your customers.

The business area should also reflect what you do. Remember, it is not just a mere business address; it is your local business office. Your location sends an important signal to customers.

In addition, if you plan to work with clients in other locations, set up a virtual office space in those locations. This act brings you and your business closer to them.

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Available and Accessible technology

It is also important to choose a virtual office space that provides the facilities and technology that you require to grow your business.

The goals of your business should guide you. Look out for a virtual office service that is flexible and able to change and grow with your organization.

Another thing to consider is how the virtual office meets the need of your customers. It should be able to help you in creating a loyal customer base.

Cozy meeting and conference rooms

Besides having access to the right facilities and technology, the conference and meeting rooms should meet your business needs. You will need a quiet environment without distractions.

Moreso, a comfortable meeting or conference room would create a good and lasting impression on your clients. It keeps everyone comfortable and happy.

Work with your budget

The virtual office package you opt for should be a cheaper option than renting a traditional office space. Nevertheless, going for the cheapest might not be a good business decision. You might incur unforeseen costs in the long run.

It is, therefore, necessary to get a service that covers your entire business’s needs.

Understand what you’re paying for

Paying for the right virtual office is vital. More so, you must understand what you are paying for. Remember to carefully go through the packages and check the features you get for each. Alternatively, you can consult a financial risk manager or a business consultant for professional advice.

All virtual services are not the same. For example, some have unlimited access to facilities, while some don’t. It is okay to ask for clarification when you are not sure. It is equally important to ask about membership. Find out if you have to commit to a lease or a more flexible arrangement.

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How Virtual Office Benefits Your Business

Businesses that can use virtual offices are SMEs, start-ups, freelancers, home workers, and others seeking business expansion. Whatever business you operate, virtual offices can help you in the following ways.

  • Save overhead costs.
  • Provide a professional physical address.
  • Add legitimacy to your business.
  • Provide efficient phone and email services.
  • Give you access to more talent.
  • Serve as an anchor to remote work.

It saves overhead cost

A virtual office space saves you the cost of renting and running a physical office space. If you are a startup-up or an entrepreneur developing a product or service, you can use the virtual office service. This service means you pay only for what you need.

It provides a professional business address

A virtual office gives you a professional business address that you can share on your websites. You can also have it listed on your business card, social pages, and more.

Your service provider forwards your emails and other communication to a legitimate business address. You can set up meetings, receive emails, and other professional communication even if you’re a homeworker.

It adds legitimacy to your business

Opting for a virtual office in a prestigious location boosts the credibility of your brand. This address increases the trust in prospects and clients. A business address in a respected area projects a good image of your business.

However, it is also important to ensure you have a trustworthy and legitimate company. This will help you to achieve the aim of investing in a workspace.

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It provides efficient phone and email services

Virtual offices keep your business operational at all times. This means you can now focus on carrying out your basic business activities. It practically removes the responsibilities of answering calls, handling mail, and dealing with overall administrative tasks.

It gives access to more talent

This access to more talent is most beneficial when expanding to a new business location. After securing a virtual office in the new location, you can hire local employees. The office becomes a meeting point for various activities. It could be a contact point for your employees.

You can also schedule and hold meetings, interviews, or any other event.

It serves as an anchor to remote work

Another vital benefit of a virtual office is the ability to work remotely. Whether you’re a freelancer, home worker, or online business owner, a virtual office is a great tool. It provides a convenient place to hold professional meetings when dealing with customers or prospective clients.

Is a virtual office worth it?

Yes, a virtual office is worth it. If you operate an online shop, a freelance service, or a small local business from home, it gives you a legitimate business address and many other benefits.

Having a virtual office will save you from the following problems:

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1. Privacy problem

Listing your home as your business address means your address would become available to everyone. This could put your privacy and security in danger.

2. Uninvited guests

Uninvited guests could show up on your doorstep without notice. They could be clients, prospects, or even marketers. Such visitors can interrupt family time.

3. Professionalism

It is better to list your business address in well-known and respected locations. It shows your business as a brand in an established area. This act instills trust in your clients and prospects.

It is also a good way to add credibility to your business and ensure growth.

Conversely, listing your home as a business address is not professional. It can create doubts in the minds of potential clients. In addition, it raises doubt about your credibility and professionalism.

4. Spike in cold callers

Cold callers could turn up at your doorstep anytime. This can impact your family time negatively. You certainly don’t want a cold caller showing up at your family dinner time.

Downsides to a virtual office

Despite the many benefits of a virtual office, it is not without some setbacks. The following are a few downsides:

1. Restricted access to the desk and conference room

A lot of businesses close on weekends. This means you might not have access on Saturdays and Sundays even if you have an urgent meeting. This limits your ability to be flexible.

2. Scheduling conflict

Opting for space means you do not have a conference room of your own. This is a problem because you might not always have access to a conference room at the snap of your fingers. There could also be unavailability of space when you need one.

3. It is difficult to build a strong team

The virtual office encourages remote work. But if you have a team working from different places, there is a lack of physical contact and human interaction. Unifying activities such as breaks and talking with colleagues are eliminated.

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Virtual Office Near Me

Here is a list of virtual office providers in the United States.

  • Regus: Regus headquarters is located at 15305 Dallas Pkwy, Addison, TX 75001, United States. Its service categories are Office Space, Coworking, and Membership.
  • Servcorp: Servcorp offers services in different US cities, such as NY City, Chicago, Washington DC, and Houston.
  • Opus virtual offices: Established in 1997, Opus claims to have more than 600 locations in US and Canada. It offers an all-inclusive package of $99 per month.
  • Davinci virtual office solutions: Davinci services start from $50. They offer business office space, live receptionist hire, live web chat services, and meeting space booking.
  • Intelligent Office: Intelligent Office offers office space, meeting rooms, addresses, phone answering, and virtual assistants.
  • EOffice: EOffice has offices in Chicago, Miami, New York City, and Washington DC. Their services include business address, desk space, meeting rooms, a Private office, and telephone service.

Conclusion

A virtual office offers businesses a physical location. It gives you a legitimate business address to enhance business operations with low overhead costs. Businesses adopting virtual offices are SMEs, freelancers, remote, and homeworkers.

If your business can be run entirely remotely, it makes little sense to acquire traditional office space for the sake of it.

FAQs

Is virtual office worth the money?

Yes, a virtual office offers you a legitimate business address, cuts overhead costs, and enhances your business operation.

Is virtual office legitimate?

Yes, virtual offices are legitimate to rent. They can help you receive your emails, and calls and run your small and medium-sized businesses.

How do I set up a virtual office?

  • Plan and strategize.
  • Establish your work location.
  • Acquire necessary tools and resources.
  • Recruit the right people.
  • Set up an excellent organizational culture.
  • Work with diligence.

What are the drawbacks of a virtual office?

  • Restricted access to desk and conference room.
  • Scheduling conflict.
  • Difficult to build a strong team.

What is young living virtual office?

Young Living Virtual Office is a platform where Young Living Essential Oils members carry out their day-to-day tasks from home.

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