Whether you run a start-up or an established business, you have the potential to save a lot of money by reducing the physical space used for your office. A virtual office takes advantage of modern technology to allow employees to work anywhere in the world while still sharing most of the essential resources they need to perform their duties. This article will explore how much you can expect in terms of a virtual office cost and how that compares to a traditional office.
What is a Virtual Office?
To take a full understanding of a virtual office price figure, you need to know exactly what a virtual office is and how modern businesses use this model. A virtual office uses a secure online portal for the majority of business activities, allowing people from different areas in the same region or even from different places around the world to work together on the same projects. The use of this virtual gateway cuts down on day-to-day maintenance costs associated with a typical office environment, such as trash pickup, utility bills, and printer maintenance. Not all work is done online, though – many virtual offices use rented space to provide face-to-face business meetings in boardrooms.
What Does a Virtual Office Space Include?
When you set up a virtual office, you get a dedicated meeting space, phone lines, a physical address for your business, and much more. The prices vary depending on how many additional amenities, such as fax lines and additional cubicle space, you choose. In the Toronto area, you can typically find a price for a virtual office starting at around $60 per month, with monthly prices ranging up to double that if you have additional needs for your business or a large staff. These prices don’t have to come by the month, though. You can just as easily arrange a weekly office space rental that provides even more flexibility for your business.
How Can You Get the Cheapest Possible Option?
You don’t have to sacrifice quality in order to find the cheapest virtual office available. Instead, you just need to be frugal with what features you add and what sort of flexibility you want. For example, the virtual office model allows you to cut costs when it comes to office space maintenance and upkeep. If you don’t want to pay for a lot of space that you aren’t going to use, for example, you can have most of your employees work from home and still remain very productive. The bare minimum that most offices need is a cubicle or two and some boardroom space for meetings. Even in the case of the latter, renting that space means you don’t have to pay for time you aren’t using.
A virtual office can save you immense amounts of money on a monthly basis. In most cases, you can budget your space needs around what your business uses, allowing you to maximize your expenditures and avoid paying unwanted costs for space and services that you don’t need.