Choosing a business address is important because without it your business will not be able to perform the most basic functions. A business address allows you to receive mail, open bank accounts, and provides an official location to receive written communications. If you already know that you are going to operate your business from a retail store, warehouse, or office building, then the choice is obvious. But for most startups, the most common option is a current residential address or PO box, and neither of these is always the best option.
The best option that adapts to the needs of your business address
If you use your residential address, you can expect to receive a flood of spam from companies that market their services to you. Some clients or clients can take advantage of knowing where you live and knocking on the door at any time. Depending on your home location, delivery companies like UPS or FedEx may run into logistical problems when trying to make regular daily deliveries or you may not be home during regular delivery times and miss an important package. When applying for a home or car loan, lenders have more requirements when they see that your work and home addresses are the same. PO boxes are also not ideal because courier companies cannot deliver there and, in most cases, a physical address is required to obtain business licenses, permits, etc.
Private mailbox
The suggested business address for any startup is to obtain a private mailbox from a local UPS store, a postal attachment, mailboxes, etc., or a similar service. Renting a private mailbox provides privacy and helps separate your business from your home. Rental mailbox services are open during normal business hours and someone is always available to receive packages from delivery companies. Renting a mailbox will give you an actual postal address which is generally acceptable for obtaining most licenses and permits, while others will simply ask you to provide your business postal address and the physical location where the work will be done (for example, your home). Renting a business mailbox can range from $ 15 to $ 45 per month, depending on the services provided. You can find these types of businesses by looking under “mailbox rentals” in your local business directory or in the yellow pages.
Virtual office
Another much more professional solution would be a virtual office. You receive the same benefits as a rental mailbox, but with the added benefit of a real office location where clients can meet with you. Since a “virtual office” is located in a real office location, it also satisfies the physical location requirements by obtaining licenses and permits. Prices can range from $ 60 to $ 300 per month. When your business is ready to grow, many of these companies can help you move into your own office suite. Virtual office spaces can be found internationally from companies such as Regus or HQ Global. You can find these types of businesses by looking under “executive office suites” in your local business directory or in the yellow pages.
Start-ups often move in during the first few years as their business grows. Choosing a private mailbox or virtual office for your business address can give you maximum flexibility and help avoid constant updating of company information. Another consideration is choosing a centralized location. Having a centralized mailing address can be convenient if you plan to move the physical location of your business. Take your time when choosing a business address and be sure to keep the information above in mind.