A virtual law office in Midtown Manhattan can enhance your firm.
Clarity on a virtual office arrangement.
A virtual office rental is a financial arrangement where solo attorneys and small law firms pay a low monthly fee (typically starting at under $100 a month) to rent the use of a premium commercial address in an executive office suite and the non-exclusive use of office space and amenities, such as conference room facilities, a staffed reception area and access to professional grade internet, telephone, and office equipment.
Virtual office rentals best serve three types of attorneys:
1. The attorney that just went solo.
Solo practice in itself is rough, but when you think about having to acquire an office address, marketing your business, etc., it can sound like a real nightmare.
Physical office space is not only expensive, it is often out of reach for many newly solo attorneys because the market dictates what their wallets can handle.
A virtual office in Midtown Manhattan is not only cost effective, but a smart strategy to one day actually sitting in your own office. You build repute and credibility without having to sacrifice so much financially!
In addition to low costs, if the office provider is lawyer specific, you can have access to referral potential that is necessary to build your solo firm. Knowing this potential can also help you narrow down your choices.
2. The home-based attorney in need of an office address.
Working from home is a lifestyle option that some prefer. Perhaps you have small children who need your presence or it’s just something you like?
Working from home is not a bad thing whatsoever, but in terms of your business, it is always best to practice in an office and work from home. This means you never meet a client at your home address or any other important legal matters.
You have to think about how your market yourself to the client and a home office doesn’t exactly say high end. You lose credibility and a virtual office in Midtown Manhattan negates from that.
It is also common for home-based attorneys to be plagued by isolation from other attorneys. When you are isolated, not only does your referral stream suffer, but you are also more prone to malpractice. Without exposure to the knowledge within a virtual office community you are only hurting yourself.
Opportunities come to fruition when the attorney actively exposes themselves to other legal professionals.
3. Out-of-town small firms and attorneys.
Choosing a virtual office Midtown Manhattan rental as an out-of-town firm is often the first thing many firms and solos consider when expanding their practice.
Various industries have a hand in many cities and states. Take into account an entertainment law firm based in Los Angeles. While Los Angeles holds the crown as having the biggest entertainment industry, New York city’s entertainment industry is nothing to scoff at or to ignore. It is also still growing.
Not having a hand in the New York market is not only ill-advised, it’s foolish because you’ll be left in the dust by other firms that do pursue the New York City market.
Making it here means making it anywhere.
Getting a referral from anywhere is great, but the Manhattan referral is one of the most prestigious referrals one could attain as an attorney. Having a local area code in your phone number and a local address in Manhattan can mean the difference between limited and unlimited growth.
Having a Long Island address or even one in an outer borough may not be enough to get the aspirational “Manhattan” client.
Incredibly, a Manhattan office presence may enable the out-of-town firm to charge higher rates, even in the local area.