In a world where remote work has become significant in work culture, many business owners don’t pay attention to location when setting up a virtual office.
Some business owners seem to have forgotten the importance of location due to the widespread adoption of virtualisation. You might argue that having a strong virtual presence is more important than a physical presence. However, if you own a business that requires the distribution and delivery of physical goods, you might want to consider the location of your virtual office as regards business operations.
Location is key in delivering goods and services to their intended destination or customers. Businesses located in hard-to-reach areas will find it difficult (and sometimes impossible) to deliver their much-needed services.
For this reason, they may charge more for their services, which could lead to a reduction in customer patronage, thus making them suffer losses.
One rule in the marketing world is; “Go where the money is”. Money, in this case, means customers.
This means that businesses need to be close to their customers. Highly prized locations are so because consumers prefer them. Businesses note areas well-loved by their target audience— school environments for video game centres, university grounds for the printing press and cyber cafes, etc.
Moreover, people (customers in this case) make decisions strictly based on perception. So a business in the city centre might be termed “trustworthy and successful”, while a business in the city outskirts might be regarded as “shady”.
This perception usually results in competition on a massive scale which equally results in higher rent. Higher rent results in a high cost in carrying out business operations. Small businesses often choose to stay out of these high-rent areas since they can’t afford that much. Looking at it contextually, they trade lower rent prices for fewer sales and lower visibility.
These and many more issues forced small businesses to opt for the virtual office option, and it has paid off hugely for many business owners.
If you still don’t know what virtual offices are, they are office spaces that offer everything a physical office space provides without being physical themselves.
With virtual office spaces, businesses get all the benefits of having a physical address in a superb location at a cheaper price instead of renting fixed office spaces.
Many business owners tend not to pay attention to the location of their virtual office, which could be a potentially fatal mistake.
This belief contradicts one of the major values of virtual offices— the address. A virtual address is an address registered and situated in a location that can receive mail and packages. Having a standard mailing address makes it easy for your clients to contact you and helps you gain more visibility for your business. One of the reasons virtual offices are so popular is that they provide your company with a prestigious address.
The location factor applies to businesses in general, no matter the form. Location is critical to establishing your business’ professional outlook. The use of a virtual office entirely depends on your business type and location.
Make sure to weigh the benefits and drawbacks that are unique to you and your company. For example, an accountancy firm that sets up its office close to several big, well-established financial companies would benefit hugely from its strategic positioning because it’s a way to get clients and build strategic relationships.
In the same vein, a modelling agency situated in global fashion capitals and trendy hotspots is optimal.
More often than not, the location speaks volumes about the business itself. Imagine a business whose address is in a location notorious for having criminal activities. Such a business may not gain much traction, as customers will consider the area unsafe. Also, the business will be at risk, as they may be victims of criminal attacks.
Furthermore, locating your virtual office in just the right place is a good way of getting the recognition that every business needs. It is ideal to rent a virtual office in the middle of your target market. This is the right place for the public to fix their gaze on your establishment and recognise it.
The internet is the go-to for customers looking for products and services. Setting up online directories to help build your online presence is compulsory. These online directories enable search engines to suggest your company to your target market appropriately, as directories often list local businesses to internet users over those far away.
Virtual offices in prime locations might put you in contact with other business people with whom you can interact and network. As a result of the close proximity, your company will have a wonderful opportunity to network with other professionals in the field who can assist you in business networking and developing new industry relationships. You’ll have access to fresh business prospects and helpful resources.
Overall, virtual offices increase the productivity of any business, and one with a good location would allow you to recruit the best talent. Your firm can benefit from being positioned in high-profile areas around the city because the costs connected with placement are dramatically lowered. Businesses can travel freely throughout the world while still having access to their workplaces, thanks to the concept of virtual offices.
In essence, having a virtual office in a prime location helps your business gain visibility, improve customer relationships by being easily accessible, and build connections with people in your niche and other valuable people in different industries.
One cannot underrate the importance of location to the success of a business. Despite the rise of telecommuting and virtualisation, location is still relevant as humans are still social beings. A business with a favourable location is ten times more likely to succeed than one in an obscure location.
Like any other company decision, the location of your virtual office is critical because you should make business decisions with a long-term perspective. With this in mind, making this crucial decision for your business will ensure its prosperity and longevity.