Choosing where to locate the head office is an easy thing to do in theory, but in practice it is far from easy to decide. However when you have a business, you have a legal obligation to have an official address.
Do not worry, you can have your legal address in one place, but do business somewhere else. In this case, the head office is your primary address, but that does not mean you have to work from there, which gives you a lot of flexibility.
Remember one thing: location makes all the difference. Although this phrase seems extreme, it is very often used (typically in marketing) and very relevant in the context of the domiciliation. In other words, if your legal address is based in a key location, you will find many advantages. To make it simple, let’s list together various types of domiciliation that you can use:
- Home address: sometimes used by self-employed and small businesses, your private address can be used as a place of domiciliation. As with all options, there are advantages to using this service: less expensive than renting commercial space or using the services of a domiciliation company. However, every advantage has its drawbacks. In other words, it will be very difficult for you to separate your private life from your work, and sometimes even to stay organized. For example, managing your mails can become an unbearable task, or you become reachable 24/7 for work and do not have a single moment to yourself (in this case it is often difficult to see your own home as a place to rest). As you can imagine, there are many other reasons why your professional life takes priority over your private life.
- Legal address: In this case, it is much easier to distinguish your business address from your home. In addition, many large companies have their own facilities. This, of course, has benefits, such as better administrative management and far more flexible and manageable coordination of the company. However, the flip side of the coin is that your costs are much higher. This means that you will have to pay significant fixed costs each month, which you can probably avoid by choosing a more suitable option. In addition, it is even less obvious to be located in a prestigious area for an affordable price.
- Domiciliation company: this option is typically the right compromise for many companies, regardless of their size. There are many types of domiciliation companies, but here we focus on coworking spaces. The advantages are very varied, e.g. your head office is located in an attractive area for your customers, or you may even find tax advantages there. In particular, you have the privilege of being able to network easily and free of charge, as the premises are occupied by companies from a variety of sectors. The coworking team is always there to share the contacts you are looking for. Moreover, the services offered by coworking spaces very often free you from essential but not very profitable tasks, such as mail management. And what are the disadvantages of using a domiciliation company? It will depend from one coworking space to another and on the services they will be ready to offer you.
Choosing your corporate address requires a great deal of attention in order to maximize your company’s profitability and opportunities. As you have read earlier, there are several criteria to take into account when making the right choice. Which ones have priority for you?