Virtual office

A virtual office provides address (and sometimes communication) services for a fee, without providing dedicated office space. It differs from "office business centers" or "executive suites", which do provide physical office space and/or meeting rooms.

The virtual office idea came from a combination of technological innovation and the Information Age. The concept has roots in life before (and even during) the Industrial Revolution, where parallels to current work styles, specifically working from home, have been drawn. The virtual office concept is an evolution of the executive suite industry. However, the inflexibility of an executive suite lease doesn't work for many business models and helped spur the virtual office concept.

The term "virtual office" implies space utilization, but a full application may include professional live communications.

A virtual office blends home and work to gain efficiencies in both. Office expenses are low, while the user's professionalism retains the image of a traditional, high-cost office. A virtual office user can reduce their environmental impact, as well as the personal negatives of a daily commute. Virtual office clientele have the flexibility to match expenses with revenue fluctuations immediately, as the costs are usually variable. A virtual office can allow for low-cost expansion with no long-term commitments. Users taking advantage of virtual office receptionists eliminate the traditional burden of health care, records, payroll, insurance & rent. Also, traditional time off (sick days, vacations, personal leaves, etc.) does not apply to virtual staff.

Virtual offices are experiencing growth even in a recessionary economy, and not just in the United States. As businesses look to trim expenses, virtual office services help reduce overhead while keeping professionalism high. For example, by paying for space and communication infrastructure on an as-needed basis, businesses can keep office expenses to a minimum. The portability of today's technology also allows for a more flexible work environment. As businesses trend to a more "online" workplace, the notion of paying for space full-time becomes anachronistic. Traditional receptionists making $12–14/hour can be replaced with remote receptionist services at a fraction of the traditional cost. Some virtual office companies or telephone answering companies offer a franchise system, enabling entrepreneurs to enter the marketplace for a fraction of the usual set up costs and with the added bonus of leads being fed to them.

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