Starting a business takes a lot of hard work, determination, and money. Most entrepreneurs will tell you not to quit your day job until your business is up and running, otherwise you likely won’t see much income. There’s a lot of financing required to start a business, including getting a loan to start the business or finding your own capital to pay for rent/mortgage, marketing, licenses and permits, staff payroll, and a variety of other expenses. Because of all the money you spend on your business, it’s always a smart idea to determine where you can cut corners.
One area where many small businesses decide to cut down is on rent. Instead of buying or renting an office space, many entrepreneurs are turning to virtual offices instead. This allows them and their employees to do their jobs from the comfort of their own home, which is beneficial for everyone. However, there are times when a business would benefit from having an in-person location, including holding staff meetings or trying to impress investors. When this need arises, it’s important to turn to an executive office option.
An executive office is an office space that you can rent out. These come in many different sizes, such as small office or full conference room, and they also come with plenty of amenities, such as TV or other audio/visual or tech equipment. If you own a small business, here are the five reasons why you should use executive suites.
- They’re much cheaper than rent.
When you buy a building or pay rent on one, you will have a large payment that needs to be made on a monthly basis. For a small startup, there’s no guarantee that you’ll have this money on a monthly basis, and even if you do, it may cut into your budget for other expenses, such as marketing or payroll. With an executive office, you will not need to pay a large monthly fee. Instead, you can simply rent the space when you need it, and then save your money when you don’t. This is the perfect way for you to have a classy office space without the high price tag or financial detriment it will put on your company.
- They’re classier than meeting at Starbucks.
If you don’t have an office, you will need to hold interviews, meet with clients, or schmooze investors at your local coffee shop, and this doesn’t scream impressive. Instead, an executive suite will be more beneficial. You can have the same privacy you’d have if you were in your own office, and you’ll have all the high-class amenities too. According to Servcorp, an executive suite and office rental company, “with premier locations in some of the most popular metro areas throughout the United States, you can wow your clients with a supportive team and an office that shows you are serious about your business.”
- They have all the amenities.
When you rent or own your own space, you not only have the burden of a monthly mortgage or rent payment, but you also have to find and spend the money on things such as TVs, computers, and other equipment necessary to hold a decent meeting. However, when you rent an executive office, you don’t have to spend money on all those amenities. Instead, these will be included with your rental price. You’ll have access to every type of amenity you could want for your meeting, and your guests will certainly be impressed.
- They’re located all over the world.
When you host a meeting at your office, you’re limited to the area. You may find that you have clients who don’t want to travel to meet with you, and this can cause a problem. However, when you rent an executive office, you have access to these high-class business locations all over the world. So if you’re usually located in San Diego but want to impress a client in New York City, you can head on over to NYC and rent a suite that’s sure to impress the client.
- They’re staffed.
One of the best features of an executive office is that they’re staffed. When your guests arrive, a receptionist will be waiting at the entrance to welcome your guests and guide them to the right room. Plus, they’ll be offered drinks and/or snacks. If your meeting requires IT assistance, there will also be an IT staff member ready and willing to help you with all of your needs to ensure your meeting runs smoothly. If you’re looking to impress someone, this is the right option for your business.