When I temporarily moved out of LA for six months, I needed my virtual office space in NYC since I had a fall semester radiological instrument course to attend at the Weill Cornell Medical College and at the same time take care of my business during my spare hours. My business line involved supplying spare parts for CT and other radiology machines and that was the reason for my relocating to NYC to attend an advanced course at Cornell. I would source spares online, and export them to Brazil, Chile, and a few other South American countries.
My LA office would be taken care of by my partner until I returned, but since the business needed my direct involvement, I would need to start an office in NYC as well. If the business grew by having the office, we could later think of opening a branch here as well. Since finances were restricted and with me spending my major time on attending the course during the day, I would have to tend to the business during early evening hours until late night. For days when I would need direct client interaction, I could use an office space that could be paid on hourly basis, but for all other times a virtual office would do. The foremost consideration however was to have a prestigious location, and I was looking for either a Plaza District or a Third Avenue address.
As luck would have it, I found a virtual office on Third Avenue at a reasonably competitive cost. I chose the monthly rental plan, and it cost me much below the targeted upper limit that I had set for myself. The office also provided a virtual receptionist free-of-cost, though I had to pay extra for using their video conferencing and fax service facilities. They also said that it would cost me more for other add-on services like attorney consultations in case I needed them, but those charges were quite reasonable and much lesser than actual attorney fees for private consultations.
My business involves litigation sometimes since clients fail to open letter of credits despite us having shipped out material, or fail to pay the balance amount after inspection of goods, and attorney fees would cost us a great deal in the past. With the virtual office, litigation expenses were reduced by nearly three fourths, and we could turn in healthier profits.
It has been little more than a year since I am in NYC The business has grown to Canada and other Northern parts of US where we didn’t have a presence earlier. My partner is taking care of the business at LA quite efficiently, while I have become more or less a permanent resident here at New York and looking at other lucrative markets like Asia, Africa, Middle East etc.