While there has been a rise in virtual offices in recent years, making the decision about whether or not to have a physical office when starting an accounting firm can depend on what kinds of clients the firm will service, says a business consultant.
Planet Consulting principal consultant Rob Pillans said some of the newer accounting firms are now deciding to start up with a virtual or non-physical office.
While Mr Pillans said that can definitely work, it can also depend on the types of clients the firm is trying to attract.
“Some clients, [for instance], may see the office as a representation of the strength and stability of the accounting firm,” he said.
“It’s a bit like in the old days where in every town the bank was the biggest and most impressive building because they were trying to portray an image. For some accounting firm clients, a physical office may be something that’s important or add more credibility to the firm.”
There may be some accounting businesses where there isn’t a need for it, he said, or where the owners are choosing not to because they have a serviced office arrangement or they can just hire a meeting room when they need.
“That’s so common now that anyone can certainly operate that way and technology removes the need to have an office,” he said.
“I think there is still huge value in being able to meet face to face with people, however, of course you don’t need an office to do that, you can be meeting in your client's offices or in coffee shops or other similar venues.”
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