- Office rent is typically 6-8 percent of revenue. More in large markets. Heck, I have paid $20,000 to $30,000 in rent a month for an office. An additional 8 percent to the bottom line can make a huge difference!
- Phone operating systems, T1 lines, and miscellaneous telecommunications equipment to be serviced/managed all contribute to increased cost. Many tech-savvy executives and middle managers already own their own communications equipment.
- Leaseholds, tables, chairs, printers/copiers, etc. all represent office dollars that could be possibly better spent elsewhere and maybe save a few trees too. Miscellaneous costs: paper, pens, cleaning supplies, office parties, etc. do add up throughout the year. Your workers will likely not expense these items – at least, not the "new worker."
- A virtual-based office will have less overall labor costs.
So, how do we start to go virtual?
- Get a website that is interactive (an intranet) for your franchise partners and company staff to use.
- Network your staff through instant messaging (IM) with any of the FREE public services (Yahoo, AOL, and MSN) that are available.
- Research access to space to use for impromptu meetings that can be done for free. Suggestions include your accountant's office, marketing agency, food distributor, and or a community college. One of your restaurant's party rooms also works well.