Online shopping and eCommerce are redefining spending habits at an unprecedented rate.
This report on eCommerce global statistics highlights the explosive growth eCommerce has undergone since 2014. This trillion-dollar trend indicates that we’re bound to see more eCommerce businesses flourish as online-based selling streams grow.
Living in a fragile economic climate means businesses will be looking for unique ways to grow their brands and bottom lines. One way for a business to boost revenue is by keeping overheads low. Office space for eCommerce and online businesses is a hot topic. Is it necessary for the growth of a business? Virtual storefronts are both everywhere and nowhere. They can deliver new products to your door without a physical doorstep at the business you’re buying from.
Understanding the unique appeal of a virtual office for your eCommerce business opens up a world of possibilities. Aside from the drastically lower cost of a virtual address compared to traditional office space, the flexibility this alternative provides is a major drawcard for start-ups.
We’ve rounded up the tangible ways an intangible office can benefit your eCommerce brand. Take a look at the surprising ways that ‘going virtual’ could bolster your growth in ways you’d never imagine.
The bottom line: it’s what all business owners focus on. Whether you’re going through a period of rapid growth, or you’re simply looking to maximise your revenue, a virtual office will provide you with a low-cost, fixed overhead structure. A traditional office space can set you back hundreds, if not thousands of pounds, per month.
This cost is often necessitated by the need to hold stock and conduct business through a business address. When you compare the cost of a storage facility, paired with the cost of a virtual address, it makes so much sense.
New business comes with risk. Reducing that risk is one the trademarks of enterprises that faced the challenge head-on with creative solutions – and won. Starting costs are a major consideration. Opting for a virtual office means there are no upfront costs – or any other costs hidden down the line for that matter.
No deposit, fixed monthly rental costs and value-added services could well be the ‘magic’ risk-reducers your brand needs during a typically volatile time.
A virtual office also drastically lowers the risk of personal loss in the case of insolvency. Business owners would agree that preparing for the worst is a strategy too few consider.
Brand establishment is a huge benefit of running a successful eCommerce enterprise through a virtual office. Business owners need to consider the impact of using their personal details (including telephone numbers and home addresses) for their brand. While it might seem manageable at first, as your business grows you may quickly tire of the blurred work-life balance.
The best way to separate these two major aspects of your life is to provide a professional, established virtual office address and local telephone number to your clients, customers, and prospects. With a virtual office, you will be provided with a local telephone number (or a national 033 number), as well as a virtual address. Not only will this alleviate late-night work calls in your personal time, but it will also boost your brand identity. None of your customers need ever know your address is purely virtual!
Virtual HQ offers on-site meeting rooms that are available to rent on an hourly or daily basis. You can rest assured you’re not wasting valuable revenue to have access to a meeting room that you don’t need. When your diary is bustling with meetings, you can rent a fully equipped room at the fraction of a cost. All of this can be achieved without cutting your profits!
Another way a virtual office can accommodate your brand’s growth is through the various city-centre locations we offer, including in London, Manchester, Cardiff and Leeds. As you break into new markets, you can have a virtual presence anywhere without the commitment of a physical office space.
Many will argue that eCommerce brands require a physical office location to store their stock.
Many home-based business owners have realised that they have all the space they need within their own homes. City-centre homes won’t necessarily have this luxury – and have found alternative ways to house their products. Costly traditional offices aren’t the only option. Using an off-site storage facility is often the most cost-effective option after personal home storage.
Various commercial storage units and temporary storage units are offered at affordable rates that can be astounding. The comparison between a physical office versus a virtual office, alongside storage, can be the difference between profits or breaking even.
These are some of the benefits you stand to gain when using a virtual office for your eCommerce brand. If you’re ready to boost your profits, lower your risks and open up worlds of growth – get in touch with us today. Reach out to our team on 0330 107 5154 and let us help get you on the map.