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Should Startups Rent Office Space or Virtual Offices?

Posted on Sep 27, 2021 9:00:00 AM by Ryan Ring

Should Startups Rent Office Space or Virtual Offices? | 580 Executive CenterIf you're running a startup, every decision you make is important. One of the biggest expenses for any business is rent, and until virtual offices were created, many startups were left without an option other than to spend thousands on a leased office space or work from their own home. 


But that set-up won’t last for long, especially if the company grows. You will eventually have to get some office space. In the past, that meant securing full-time office space and signing a long-term lease. Virtual offices have done away with small business being backed into a corner and forced to sign a lease on an office that they might not even be using every day. 


Here are some of the benefits virtual offices have over traditional office rentals that you should know about before you make your decision:


Flexible rental terms


A lease provides security: you know that you’ll have that office space for a long time. For some businesses, this is the best option because they want to settle into a spot and make it their home base for the foreseeable future. However,  if you're not quite there yet, or if you have a business that might never require a full-time office because most of your work is done at a storefront or on location, virtual offices might be the perfect option.


With a virtual office, you are basically renting a part-time office; but if you’re a start-up business, you may not need an office for 40 hours a week. And with a virtual space, you get flexible renting terms – you can rent a virtual office for as little as a month or week at a time, and at a much cheaper price than a lease.


A reputable business address


One thing you can't overlook the importance of is a professional business address you can put on your business cards and use for mail and deliveries. However, if you don't plan on being at your office space every day, you might be risking missed deliveries. Almost all virtual offices come with a virtual receptionist, who is present during normal business hours and can sign for packages and mail, keeping it in a secure location until you're ready to pick it up.


A receptionist


Of course that's not all the receptionist does. One of the major upsides of a virtual office is the building's receptionist. It's a great perk because you get all of the perks of an additional employee without needing to actually hire one. Some virtual offices even come with virtual assistant service; a virtual assistant can take care of clerical jobs for you on an as-needed basis, usually for a small additional fee.


Making the decision between a virtual office and a long term office lease comes down to one question: Are you going to be paying for more than you need with a full office rental? If so, virtual offices might be the perfect medium for your startup.


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Topics: Virtual Offices