Whether you operate a small-to-medium sized business or a grand corporation, you might be considering expansion through opening a new branch. Introducing your company's products and services to a fresh market in a new location is a great way to gain new business, but there are financial risks to be considered. No one can predict the future, and products or services that perform well in one city might not do so well in another. It's wise to test the profit potential of your new branch before making a large investment in office rentals and equipment. Read below to learn how a virtual office can be used to test your new branch and save you time and money.
How to Test Your New Branch Inexpensively
One way to test the market in a new location with minimal investment is to open your new branch with a Business Center. A Business Center provides key functions that enable your business to operate with very little expense. These key functions often include phone answering services and part-time or full-time access to office space which is fully equipped with furniture, internet, phone, fax and copier. Some Business Center services even provide a conference room where you can meet with your clients. For one low monthly payment, you'll have access to these useful features without paying out of pocket to purchase these items. You can keep your overhead low until your business gets off the ground.
No Long-Term Commitments
With low cost Business Center services you're able to open a new branch without making a long-term commitment. For example, if you want to test the market for only six months, you might find that renting an office requires a minimum one-year lease agreement. If your products or services flop in that particular location, you're committed to the lease for a full ear and might be required to pay a penalty if you break the lease. A Business Center can be used as an alternative to leasing an office.
Your Company's Characteristics
There are many types of businesses which can benefit by using a Business Center. The question you should ask is, “Can I open a new branch using a Business Center?" To answer this question, consider the following list of characteristics. If most or all these characteristics describe your business, a Business Center can benefit your company.
1. Operations can be performed from your home, car or any remote location.
2. Most business is performed online.
3. You only meet with clients by appointment on rare occasions.
4. You just need space for a sales staff.
5. Your employees work from their home or car.
Even if you are the CEO of a large corporation, these characteristics might still apply. For example, your company wants to send out a sales force in a certain city to gain business clients before opening an office. You need to be sure there is a potential for profits before investing in an office and equipment. A Business Center can be used by your salespeople as they perform office tasks, report back to your main office, make calls to clients, fax orders, etc. Instead of requiring each employee to buy equipment for their home or lease expensive office space, you can provide a Business Center as one central, convenient location. If your employees need to meet with a client, you can reserve a conference room for their meeting. A Business Center makes it possible to operate professionally with very little expense.
Less Office Expense Equals More Advertising
A tremendous benefit of using a Business Center to open your new branch is you canconcentrate more of your funds on promotion and advertising. Advertising isn't cheap, but unfortunately, many businesses require heavy promotions to gain new clients. Opening a new branch is very similar to starting from scratch where promotions are concerned because you are now reaching an entirely new group of people. Unless you own a national franchise that offers blanket television advertising campaigns, your company might be unheard of in your new location. You are reaching out to a new audience and building an image all over again. Using a low cost Business Center for your new branch gives you the extra money needed to promote your business.
Use the information above to determine if your new branch is a candidate for a Business Center. A Business Center can be a temporary solution to help you build permanent success.
Grace Corporate Park virtual office service can help you establish a prestigious business in New York City. We also provide permanent and temporary serviced office spaces. See http://www.corporatepark.net for more information.