Choosing a Business Address
Choosing a business address is important because without it your company won’t 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 you’re going to operate your business from a retail location, warehouse, or office building then the choice is obvious. But for most startup businesses the most frequent choice is a current residential address or P.O. Box, and neither of these aren’t always the best choice.
The Best Option that Fits Your Business Address Needs
If you use your residential address you can expect to receive a barrage of junk mail from businesses marketing their services to you. Some clients or customers may take advantage of knowing where you live and come knocking at any given time. Depending on your home location, delivery companies such as UPS or FedEx may have logistic issues when trying to make regular daily deliveries to you or you may not be home during regular delivery times and miss out on an important package. When you apply for a mortgage or car loan, lenders have more requirements when they see your work and home address are the same. Post office boxes are also not ideal because delivery companies cannot make deliveries there and in most cases a physical address is required when obtaining business licenses, permits, etc.
The suggested business address for any startup is obtaining a private mailbox from a local UPS Store, Postal Annex, Mail Boxes Etc, or similar service. Renting a private mailbox allows privacy, and helps separate your business from your home. Rental mailbox services are open regular business hours and there’s always somebody available to receive packages from delivery companies. Renting a mailbox will give you an actual street address which is usually acceptable in obtaining most licenses and permits, while others will simply ask you to provide your business mailing address and physical location where work is to be conducted (for example your home). Renting a business mailbox can range from $15 to $45 per month depending on services provided. You can find these types of companies by looking under “mailbox rental” in your local business directory or Yellow Pages.
Another and much more professional solution would be a virtual office. You receive the same benefits as a rental mailbox, but with the added benefit of an actual office place where customers can come to meet with you. Since a “virtual office” is at an actual office place, it also satisfies the physical location requirements when 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 accommodate you moving 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 companies by looking under “executive office suites” in your local business directory or Yellow Pages.
Startup businesses often move over the first few years as their business grows. Choosing a private mailbox or virtual office for your business address can provide maximum flexibility and help avoid constantly updating company information. Another consideration is to choose a centralized location. Having a centralized mailing address can be convenient if you plan on moving your physical business location. Take your time when choosing a business address and be sure to take the above information into consideration.