Starting a new business is as exciting as it is nerve-wracking. However, by making yourself well informed with different office types, choosing one shouldn’t be a stressful decision. Many small businesses either opt for a virtual office or an executive suite. After all, these types are both well-suited to the needs of a small business.
Not sure which one to settle on? Outlined below are several common considerations to take before choosing your office type.
Number of Employees
Are you running a business by yourself? Or have you hired a larger group of employees? It is important to take into consideration the amount of people working for your business.
Virtual office space is better suited for a business with only several people—otherwise, booking out rooms can often become conflicting and disorganized. When it comes to virtual offices, you won’t be the only one sharing the same space. Executive suites are better suited for a larger staff, since an executive suite provides more rooms that are only utilized by your company.
Cost
Like anything, cost is something every business should consider before settling on an office. In comparison to buying an office, renting a virtual office or an executive suite is much less expensive. Both virtual offices and executive suites don’t have any upfront costs or long-term agreements, with the building management expenses also covered.
As expected, executive suites are more expensive than virtual offices simply because they offer more room usage and availability.
Frequency of Client Meetings
Did you know that the original purpose of a virtual office was to provide a professional meeting place for clients? If you’re not meeting people on a regular basis, a virtual office is best suited for you.
Executive suites complement businesses that have frequent meetings with their clients or consultants. And frequent means almost every single day. With an executive suite, it’s easier to manage multiple meetings since the space of an executive suite isn’t shared by another business.
Where Do You Intend to Work?
I’ll admit that this seems like a silly question, but it’s an important consideration nonetheless! With a virtual office space, you don’t have to sacrifice working from home or from your favourite coffee shop. In comparison, executive suites are more like a typical work setting, where people intend to spend the majority of their time working there.
Virtual offices and executive suites are both office types for small businesses to flourish. By following some of the tips above, choosing an office to match your business needs shouldn’t be stressful at all.
