How a Virtual Office New York will allow your NJ based firm to charge a higher hourly rate.
For many lawyers, a virtual office New York location may be the best option to increase your currently hourly rate while maintaining a relative small economic foot print.
New Jersey and New York are inextricably tied together. Our states even are tenants-in-common with respect to Ellis Island. Due to our extremely close geographic proximity, your New Jersey based practice most likely bleeds over into Manhattan.
If you are not maintaining a professional identity in New York City, you are literally losing out to tens of thousands of dollars each year in potential new clients and under-billing existing clients. For less than the cost of a monthly PATH card, you can establish your foothold into the lucrative Manhattan legal market with a virtual office New York presence.
What is a Virtual Office New York?
A Virtual office is a rental arrangement where attorneys can pay a low monthly fee (typically starting at under $100 a month) to rent the use of a premium commercial address and have access to office space and conference rooms on as as-needed basis.
Lawyers, like you, choose to maintain a virtual office identity in New York City because of the prestige it garners among existing clients and new clients alike. When you add a second address to your business card, especially a prestigious downtown Manhattan address, it creates a perception to client’s that your firm is extremely successful.
On average, New York lawyers charge more per hour than New Jersey lawyers.
But, client perception is the least of what a Manhattan Virtual Office provides. Your will literally see an increase in your billable hour. A study conducted by the National Consumer Law Center discovered that New York small firm lawyers with 3 to 5 years of experience, on average, charge $59.00 an hour more than their New Jersey counterparts.
A Manhattan virtual office allows New Jersey home-based lawyers to charge a higher hourly rate than their New Jersey only counterparts, regardless of their practice area.
Numbers don’t lie.