If you are looking for an economical office space, you have several options to choose from. You can try and find a nice building with affordable rent (good luck) or you can choose a serviced office or virtual office space. There are pros and cons to each of these and you have to decide which is right for you and your company.
Traditional office space
This is, exactly what it says it is. You rent private space that only your company and employees can use in an office building that also houses other companies. You are responsible for your office and you have to hire employees including a receptionist to answer phones, take in the mail, and escort clients to your office or conference room.
Additionally, you will probably have to set up the phone system and the WIFI and get furniture, as well. Leases tend to be long, up to five years and the space is generally large, generally over 1,000 feet. While this is good for large corporations, it is generally more difficult for those just starting out, need more flexibility, or are in a satellite office.
Serviced offices can also be referred to as executive offices. They offer you office space without hassle. You share common areas with other companies. These include access to conference rooms, a kitchen, lounge area, janitorial services, and a full-time receptionist, as well as a prestigious mailing address. In addition, you do not have to set up the phones or WIFI and the furniture and artwork are already there for you.
Leases on serviced offices are often more flexible and can go month-to-month or for as long as two years. It is generally more affordable as there are no start-up costs and the rent is lower than traditional office space. However, it still maintains the air of being professional.
Virtual Office Space
If this is still too much for you, then an excellent option is virtual office space. Virtual office space allows you all of the amenities of an executive office suite, but only when you need them. If you do not have to be in an actual office for 40 hours a week this may be your best option. You can come and go as you please and there is always someone to answer the phone and take in your mail.
With this setup, you have access to boardrooms, conference rooms and meeting offices. You can also take advantage of a full line of support services. Virtual office space is best for those that work from home including sole practicing attorneys and road warriors. These services are also beneficial for both start-up businesses and companies expanding into new markets. You get the many of the benefits of a private office at a much lower cost.
It is important for you to what and how often you need physical space in which to do business, and what is best for your budget. Flexible office solutions make it so that small business owners can choose exactly what is needed – no more, no less.