Though there are different ways to organize and operate a business, a large part of the American economy is made up of small businesses. In fact, with fewer than 500 personnel, almost every U.S. organization qualifies for this designation. The company is based outside a private home for 38 million of these ventures, and for a good cause. Although the lack of working capital destroys most new companies at an unprecedented pace, within a three-year span, a full 70 percent of businesses operating out of a residence are profitable. It's good business sense to keep expenses in check, but few owners want to disclose their home address. Do you even need a street address for your home-based business, and what are your options if you decide to use one?
Do You Need a Street Address?
You can literally use any address you like for business communications, ads, or billing for your business, and this is good news because you are concerned about the privacy of your family. However, when you organize your business as an LLC, company, or association, and owners often choose the street address of one of the partners as the official contact, you are expected to register a physical address for official correspondence. This registration is a matter of public record, and for malicious reasons, some people dig up this data. You may want to use a third-party virtual address provider to protect your privacy.
Physical Address or Post Office Box?
Since a large percentage of home-based companies are service-oriented, it is normal to spend a great deal of working time outside the office environment. In certain cases, in order to distinguish their business and personal life, owners resort to a post office box. This technique not only helps you organize documents, it also gives your family a layer of security and privacy. Nonetheless, there are major obstacles to using the post office as the official address for your company. You can lose future sales and damage your reputation if your client base perceives your operation as unprofessional. Also, if your customers are unable to reach you quickly, they lose faith in your ability to provide timely and accommodating customer service, so before resorting to a post office box as your official address, it is necessary to do some research. You should also note that PO Boxes are not usually distributed by third-party carriers (UPS, FedEx, DHL).
Owning an enterprise that you conduct on your own or with just a few employees means that every dollar you spend must be focused, purposeful, and efficient. Simply put, you can't afford to spend money, and resources for renting an office location may not be available. Even so, using a P.O. Boxing can create reputation problems for your company, so what can a smart home-based company do? Fortunately, alternatives are available that give you the advantages of a real street address without compromising the privacy of your family.
Exploring Your Choices
If you choose to have a published street address for your company that is not your home address, there are many choices available. For instance, the post office may assign a physical address to a P.O. On request, or at a private delivery company that provides the same option, you can rent a mailbox. These alternatives, however, require you to drive to the place to pick up your mail, making them less than ideal for business owners who are busy. If you feel pressed for time, you might discover that the best of both worlds is a virtual mailbox service.
What Is a Virtual Mailbox?
All the advantages of having a real street address without going through the hassle of mail pickup are given by using a virtual mailbox. Like a physical mailbox service, your business is given a street address and a PMB #, box # or suite #, but instead of your house, your mail is sent to the service. However, since all your correspondence is scanned and uploaded to your private account, and you can read it on your phone from any place with an easy to use app, you don't have to pick up something in person. Not only is the use of an inexpensive virtual mailbox as low as $10 a month, but even though your business transfers physical places, you can have the same street address and suite. Some of these companies do not lock you into a contract and thus you can cancel any time if your needs change.
Every day, small companies struggle with problems, and managing customer interaction is just one of the issues you face. Although you don't have to show to your clients your actual street address, many businesses find it helpful to have a physical address. The good news is that, without risking your anonymity, you can have a street address. The easiest way to easily access all your business correspondence from your house, workplace or even when you're out getting the job done is to use a virtual mailbox service like PhysicalAddress.com.
Are You Ready to Find Your New Virtual Office?
Victory Workspace has been serving professionals in the Walnut Creek, California area for over ten years, and even after the Covid 19 Shelter in Place is over we will be here for you. We offer a large variety of coworking spaces including virtual office space! We are the leaders in virtual workspaces in Walnut Creek because we have an innovative and comprehensive approach to non-traditional workspaces. For forward-thinking business owners and entrepreneurs, a virtual office provides a professional front-end for their business without the cost, commitment, and hassle of renting traditional office space. To learn more, set up your free tour, or inquire about which one of the services might be right for you, reach out to one of our amazing Community Guides at Victory Workspace for more information.