How Much Does a Downtown Address Cost?

Earlier this week, we discussed some of the reasons why your home address shouldn’t be your business address. There are definitely concerns about security and privacy, so if you want to keep your personal life reasonably personal, it pays to have a separate address for your business. This really helps with legitimizing your home-based business too.

When you’re a smaller business or if you are an Internet startup, having that elevated level of legitimacy can help with your growth and really put you in a different light when you talk to your clients and business associates. That said, some people may be afraid or apprehensive about the kinds of costs involved with having a downtown address. It may look good, but is it worth paying the extra money?

Let’s have a look at a few basic examples.

We’ll start by looking at the most conventional route: having a real downtown office. This means that you will no longer be working from home and that you’ll have a legitimate office in the downtown core. If we were to use Vancouver as an example, a quick search on Spacelist.ca shows that the going annual lease rate for a basic downtown Vancouver office is about $30-40 per square foot. If we extrapolate that to a 500 square foot office, that works out to about $17,500 a year or around $1,500 a month. That’s just for the lease, not including your costs for utilities, phone, Internet, furniture and the rest of it.

This is one of the biggest reasons why many people choose a coworking plan instead. For the downtown Vancouver location of The Network Hub, for example, the rate is between $280 and $375 a month for unlimited coworking. That includes Internet access and all utilities, as well as a smiling receptionist to greet your visitors. You still get the legitimacy of a real downtown office, complete with a downtown address for your downtown desk, but at a fraction of the cost of having your own separate office.

But what if you wanted to cut costs even further or you simply prefer working out of your home office instead? That doesn’t mean that you can’t have a downtown address for your business. In fact, our mailbox rental service is just $30 a month. If you want mail forwarding too, that’s only $50 a month. It’s your own new virtual address, but you get a live receptionist and automatic email notifications.

Considering that this works out to only a dollar a day, that’s a very small investment to better position your business for success, don’t you think?

Learn more about our mailbox rental service.

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