Whether you live in New York, London, Sydney, or Manila, you’ve got the power to start your own business. In fact, this has never been truer than it is right now. We’re at a point in our development where technology has opened up new worlds. In 2017, it’s possible to launch and run a successful company without ever creating a physical space for customers to visit.
Across Southeast Asia, even traditionally inflexible industries like law are starting to consider virtual workspaces. In the Philippines, there has been a rise in the number of home-based legal firms, with more professionals deciding to go it alone. It can be a hard road but there are many benefits and the secret to success is learning how to maximise them.
If you are planning to launch an online law firm, it is worth considering the resources on offer at virtual offices. Keep reading to find out why they are a big asset.
What Is a Virtual Office?
One of the leading providers in Manila is Servcorp and their facility works in the following way. If you pay for a virtual office at Servcorp, you get access to a shared workspace equipped with a wide variety of corporate resources (broadband, telephone lines, mailboxes, etc.)
The difference between this and a conventional office is that it’s not designed to host tenants every day. You have the option to visit whenever you like, but most tenants use virtual workspaces as a support system for their home based companies.
Why Do Law Firms Use Virtual Offices?
For small law firms (and all companies), the big benefit is very low rates. As the resources are shared with other tenants, the monthly premium is tiny compared to the cost of a full-time office. There is also a huge amount of flexibility which is essential for fast growing businesses.
If your law firm is still young, you’re likely looking for ways to expand quickly. Virtual offices can help because they don’t require a contract. When you’re ready to move to a bigger, more private workspaces, all you have to do is end the rolling monthly payments.
Great Ways to Save Money in a Virtual Office
Before commercial real estate began to diversify and develop, the only real option for law firms was to set up in a long-term office. This is a costly and time-consuming endeavour. You need to buy furniture, sort out the décor, hook up with utility providers, and spend time settling in. The longer that this takes, the more time the business is closed and this leads to lost profits.
Yet, the stability and professionalism afforded by an official office address is invaluable. Your law firm does need it if it wants to be taken seriously. So, swap the rising rent costs for the super low rates of a virtual workspace. Your corporate mail will get sent to a legitimate, professional address and you can use the onsite boardrooms for meeting with clients.
Law is one of those industries that depends on credibility. While you can’t really be meeting customers at home, you can host them in a comfortable, beautifully designed meeting space. Often, virtual providers ask for a small hire fee for the use of these rooms. The reason for this is that they don’t want to add a permanent charge unless you’re using them all the time.
Ultimately, the support of a virtual workspace will help you keep the professional and the personal separate. Even if you only intend to visit once a week and continue working primarily from home, it will add a lot of value to your brand. With an official phone number, address, and corporate suite, you’ve got a solid foundation on which to grow a law firm.