Having a physical office location is a significant expense for most newer businesses. In the old way of thinking, a business isn’t a business without a storefront. Some businesses can’t function without it, but for some, I can’t seem to justify the expense of it. Let’s dig in deeper.
Need it!
Some businesses MUST have a physical location. A business that sells impulse physical products MUST have a physical location. For example, a coffee shop that sells ready-made drinks can’t operate effectively without a building. Also, businesses that depend upon walk-in traffic require a storefront.
Don’t Need it!
There are many service businesses that absolutely do not need a physical location. Pest control services, electrical contractors, plumbers, etc where the customer never comes into the facility likely do not need traditional physical office space. They may WANT a physical space, but needing it is a different thing. (As the business grows, it can turn into a NEED as headcount and storage needs increase).
Maybe
Some service-based industries with multiple employees find benefit in collaboration. This collaboration can be done digitally, but if the efficiencies gained exceed the cost of the space, space is needed. This is the main reason Vitality South has a physical location.
I’ve talked to businesses with a space that regret it and businesses without one that are sorely lacking and regret not acting quicker. Weigh the pros and cons for your business and make your decision based on your unique needs and resources. Every aspect of your business is your responsibility to think through. Think for yourself and make your personal decision instead of going with the default need to have a physical space. I will say this, though- If you don’t have a physical office space, your website and business listings are more important than ever!
Your Website IS your storefront
Your website is the first impression most customers/patients get from your location. Even if you have a physical office presence, most pre-screen you online before they step foot in your facility. If you don’t have a physical office space, it’s even more lasting of an impression. Make sure your website leaves your customers with the brand you want them to have. Look at your website from your phone – is it great? Just like you maintain and update a physical office, your virtual one needs just as much love and attention.
Wishing you much prosperity!
-Ashley
