Why Move from a Traditional Office Lease to a Coworking Space?

It wasn’t that long ago when the virtual office and coworking centers didn’t exist, and shared office space is still a new concept New Jersey. This meant small businesses that wanted to present a professional image had no choice but to invest in a traditional office lease. For most entrepreneurs the “lease” is a substantial overhead if not their biggest ongoing commitment. How things have changed since then! A lot of small businesses today move from the physical office to the virtual office concept once their lease period is up. They have all the benefits of an office lease without the lease costs and hassles. This includes a really nice place to work, meet clients, and maintain an impressive business address. And those just starting out no longer even consider a long-term office lease, and the reasons for this are clear.

The High Cost, Small Return of a Traditional Office

The traditional office lease doesn’t start and end with the monthly rental. There are usually other spin-off costs associated with bricks and mortar rents. What these are will obviously depend on the lease agreement. Whatever they are, they all add up and take money out of your pocket.

Typical, costs associated with traditional office lease may include:

  • Monthly rent
  • Setup costs, including furniture and equipment like a printer
  • Security lease and sometimes a personal guarantee
  • Internet service and utilities
  • Phone service
  • Front desk staff, if desired

An office lease is expensive to setup and maintain. Plus there is often a long-term commitment—for years sometimes.

A membership at a coworking space, using virtual office solutions, is just the opposite. It’s cost-effective, an entirely flexible model and caters to the needs of its members. In other words, you don’t have to tailor the way you work around the office; the virtual office accommodates the way you prefer to work. And, membership is month-to-month, kissing the long-term commitment good-bye.

More Money to Invest

Less money spent on costly overheads can only be a good thing. It means there’s more cash in the investment pot to finance other crucial areas of the business such as:

  1. Product development
  2. Hiring better talent
  3. More time to build new leads and form relationships with prospects

First Impressions and the Business Address

In the past, a lot of great business ideas never even got off the ground. One of the reasons was because people with good ideas needed an office but couldn’t afford one in the required location. Not all businesses need to be in an impressive location, but many others do. In a highly competitive world, a subpar address can weaken a brand and tarnish reputation. It’s hard, for example, for prospects to take a home address seriously. The same goes for an office located in a rundown part of town.

The office business mailing address matters. An impressive business address at an easily accessible location is always going to work in your favor. It says something about the business itself. This is serious stuff. A prospect may skip over you for no other reason than the address doesn’t impress them. At Office Evolution Hackensack, NJ, in Bergen County, members get an impressive business address that they can use openly as part of their virtual office space in NJ. That means it can go on business cards and all stationary and accounts documentation. Most important of all is that you can register your business name and address on a Google Business Page. This means your company gets to show up in the organic search results in the local business listings. This is not something you can do with a home address or a PO Box number.

Other Benefits of a Professional Business Address

So you have a professional business address and that looks great to clients and prospects. But there are more advantages than that crucial first impression. Remember, Office Evolution is a real address at a real location. You can even meet clients here.

The full benefits of a professional business mailing address include:

  • Your address is a suite number, not a box number
  • It’s the place to receive all your business mail
  • Our Business Center Manager places your mail in to your own secure, private locking mailbox
  • There’s a mail forwarding service available on request
  • Meeting rooms, offices, and coworking spaces available

Forget Traditional Commitments

Already you can see the benefits of a coworking center over a traditional lease. We also have packages to meet the specific business needs of our members. Members can upgrade these when times are busy or downgrade if things get quiet. Nothing is fixed, it’s a totally flexible concept where members only pay for the services they use. It’s a no-brainer for solo professionals, small businesses and freelancers either starting out or established. You can learn more here.

According to Forbes, by 2020 it’s estimated that more than 40% of the American workforce, or 60 million people, will be independent workers—freelancers, contractors, and temporary employees.

What Your Get – the Full Package

The old, fixed way of working can no longer compete with the coworking concept. Unless you really need a traditional office it makes no sense to throw money away on a long lease.

Here’s what you get with a virtual office coworking membership at Office Evolution Hackensack in Bergen County, New Jersey:

  • Great location, impressive mailing address and easy parking
  • A whole range of office solutions, e.g., virtual receptionist, mail forwarding, etc.
  • Customizable packages that you tailor to match your needs at the time
  • Meeting and conference rooms, day office suites, shared desks, private offices
  • Front desk presence and reception area for your clients
  • Fast internet access
  • Communal kitchen with complimentary drinks bar
  • The opportunity to meet and network with like-minded people

Compare the above to a fixed leased office and all the restrictions that come with that. It’s easy to understand why small business owners are moving from the old arrangement to a virtual office space in NJ or coworking space once their lease is up. And it’s also understandable why first-time independent workers and small business startups no longer consider the old, costly static arrangements of the past.

Intrigued? We’re Office Evolution in Hackensack and we are reinventing shared office space in NJ. Contact us today.