Benefits & Costs of Having a Virtual Office in NYC

Benefits of a virtual office

The New York virtual office or business center is an attractive way to get the workspace you need, and is changing the way the city works and does business. An increasing number of employees are working remotely, part time, and freelancing. Additionally, rising direct lease real estate prices continue to put pressure on NYC companies with limited budgets. A company’s need for Manhattan office space is evolving and calls for a flexible-term alternative.
A virtual office or flexible-lease office business center can provide a practical solution and professional alternative to direct lease office space by providing companies with an address, communication services, and more. However, there are a few considerations to keep in mind before making the switch or starting a new business in a virtual office space or flexible office center.

Cost of a Virtual Office

If you are thinking about using a virtual office or executive suite space in NYC instead of a traditional commercial lease space, it is important to understand the cost differences between the two models.
Enrolling in the NYC Office Suites Virtual Office program starts at just $1.50 per day. The virtual office program offers a number of high-profile business addresses, dedicated NYC phone numbers, conference rooms, and private Manhattan short-term offices. Virtual office features are offered à la carte so you only pay for the services you need. For example, you can get 1-3 desk full-equipped private offices for $50 per day per month, voice services for $50 per month, virtual assistant/mail management for $75 per month, and unlimited business hour workspace for $495 (and less) per month. The flexibility allows you to tailor the services to the needs of your growing business.
In contrast, in a traditional office space the average business spends much more per employee for their space, due to the many costs involved and the overly dedicated use of space. Usually the lease locks you in for three years, in many cases much longer.

Pros of a Flexible Virtual Office in Executive Suites

Having a virtual office means that employees can work from home without the inconvenience and waste of time spent commuting. Surveys show that workers increasingly value schedule flexibility without the traditional constraints of fixed hours that come with a fixed location. Virtual offices can encourage you to reduce the use of paper in favor of space-saving and eco-friendly electronic communications and storage.
Virtual offices and office business centers with flex terms offer a professional presence and even privacy for a fraction of the price of a traditional space, which is especially important for startups, nonprofits, and businesses looking to cut costs. With a virtual office, you cut out expenses for buying or leasing a property, utility bills, and maintenance. With reduced overhead costs and term commitments, companies can take more creative risks and spend money on developing relationships with new clients and building existing ones. It’s “Workspace as a Service” and it’s a big edge to have over the competition.

Cons of a Virtual Office

However, there are some drawbacks to the virtual office that you should be aware of as well. If you want a space that is heavily branded, has its own receptionist at the elevator, or which reflects your unusual personality then a virtual office space should be customized slightly with color walls and decals and located well within the business center. Likewise if a particular building location is critical for your business, you may have a hard time finding an office business center in it.
Also, although nontraditional work schedules are in fashion these days, not every employee can handle this type of responsibility when the line between work and home routines becomes blurred.

Is a Virtual Office Right for Your Business?

Whether or not a virtual office at an executive suite is right for your company largely depends upon the type of industry you are in and your management style. However, virtual offices with flexible terms have many advantages and will undoubtedly be a big part of the future of business, so it’s smart to familiarize yourself with their prebuilt features and how they will work for you.
We would be happy to tell you more about our customized virtual offices and proud to show you around, so give us a call at 800-346-3968 or send us a message via online contact form.

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