Whether you’re looking to expand your small- or medium-sized business to a new market or you’re the CEO of an internationally renowned conglomerate brand, renting a fully furnished satellite office in Mississauga or Ottawa is the perfect way to accommodate the needs of your growing business. Depending on the needs, preferences, and specifications of your business model, you can choose between operating a virtual satellite office that allows your employees to predominantly work remotely; or you can rent a physical satellite office space that’s centrally located to make commuting to work more convenient for everyone involved.
Satellite Office vs. Branch Office
As a business professional, you might have heard the terms “satellite office” and “branch office” being thrown around quite a bit by your peers. But what do they mean, what is the difference between the two terms, and which one is the best option for your business? If it seems like the two terms are being used interchangeably, that’s because they are interchangeable. Essentially, a satellite office and a branch office are the same thing. For the sake of continuity, we’ll continue to refer to them as satellite offices throughout this article.
A satellite office is basically a branch or division of a larger conglomerate corporation that’s located in a different area, city, region, or country than the original headquarters of the company. To put it into perspective, the headquarters of Starbucks is located in Seattle, Washington. However, they have satellite offices located within close proximity to each of their store locations, which allows them to conveniently offer support and greater availability to their store managers.
Benefits of Satellite Offices
In the age of advanced technology, businesses can reap tremendous benefits from investing in satellite offices. Not only does this business venture allow companies to break into unchartered territories for their brands, but it also gives them greater opportunities to appeal to vaster untapped national and international markets. After all, it wouldn’t make sense to expand your business to a particular country, state/province, or city without first researching and learning about the cultural norms of that particular region. Sometimes, the most effective—although, admittedly, not necessarily the most financially sound—way to do this is to delve into said region and explore it firsthand. Of course, this means taking a calculated financial risk that could eat up a great deal of your resources, which is why you must thoroughly weigh the pros and cons of opening satellite offices in certain areas. Don’t make any rash decisions about any particular location. Do your homework and make sure that you’re not taking any unnecessary risks.
Local and Global Expansion Opportunities
Satellite office space rentals offer a great deal of opportunities to improve upon your business practices, appeal to different demographics, and expand your overall customer reach. To successfully expand your business in a local and international market, you must first take the opportunity to learn about the different types of areas that you’re planning on targeting. Make sure that the core values of your business meet and deliver the needs of those demographics in order to capture and keep their interest.
Reduced Commute Time for Your Employees
It’s a simple fact that the closer your business is located to your employees, the easier it is for them to commute to and from work every day. Taking the needs of your employees into account as much as you do for your clients is important because the people who work for you are the backbone of your business. The less time they have to spend commuting to work in the morning, the more time they can allocate to getting their work done in a timely and efficient manner.
Increase Sales and Productivity
When you rent a satellite office, you’re also increasing your company’s chances of meeting and exceeding your sales goals. Productivity levels will inevitably rise because employees will be working in environments where they feel the most comfortable and at ease. You can provide more opportunities for temporary or permanent relocation to desirable areas that’ll allow the work of your employees to flourish. When people genuinely enjoy the work they do and where they live, it’s reflected in the results they’re able to achieve. Happy employees are productive employees and productive employees help increase your bottom line.
More Efficient Local Customer Support
The more satellite offices you have in major metropolitan areas, the better local customer service you can provide to your loyal clients. Building awareness of current events and staying up to date with the needs of your local customers is an asset you can’t afford to miss out on. It shows them that your business is truly paying attention to the specific needs and this type of exceptional customer service guarantees retaining their continued support and will help increase word-of-mouth advertising for the services and products you provide.
Strong Connection to Local Customer-Base
Living and working in the same city as your customers means that you have a firsthand understanding of their lifestyles, desires, and needs. No matter what you’re selling or who your target demographic is, you’re fully capable of meeting their needs simply because you share a lot of similar experiences. Establishing this type of strong connection to local customers is a cornerstone of successful business practices because it humanizes your company and makes you seem more relatable rather than a large, faceless corporation.
Engage More Local Talent
Another benefit of satellite or virtual office spaces is that they provide you with the opportunity to hire and engage more local talent, rather than being forced to scour international hiring pools for employees who have no knowledge of the local market. Having employees who live and work in your local target locations is a huge asset because they can easily relate to customer experiences and therefore offer more palpable solutions to any questions or concerns that may arise.
Strong Level of Communication between Satellite Offices and Headquarters
While satellite offices have complete authority to operate and govern themselves as they see fit in their respective locations, they must still maintain a strong line of communication with your company’s headquarters and report back to them on a regular basis. This is essential to guaranteeing that all satellite offices are in line with the demands and instructions provided by the headquarters, but also that the upper management personnel are aware of what’s going on in each location of their business. Every region has different demands when it comes to types of popular products and services that are offered.
Opportunities to Partner with More Local Small Businesses
Partnering with local small businesses isn’t just a lucrative business opportunity, but it also serves to help those mom-and-pop shops that are beloved in each town or city. Showing your support for these businesses proves to your prospective customers that you truly care about the well-being of their towns and aren’t dead-set on simply dominating more markets with total disregard as to how it effects their local economy.
Things to Consider When Selecting a Satellite Office Space for Your Business
The following are a few important factors you should take into serious consideration before deciding on a satellite office space.
The physical location of the office building itself holds significant importance in a lot of different ways. First, you have to choose an area that’s central for the majority of your employees in that region. It should be relatively close to major transit stops and subway stations for people who don’t have access to a vehicle. Second, make sure the office building is in a relatively safe area with low crime rates. The last thing you want is for your employees or clients to feel unsafe every time they come in to work or stop by for a meeting.
That said, you should also take the rental fees in different cities into account. For instance, a fully furnished office space for rent in Mississauga or Ottawa could be significantly cheaper, but equally worthwhile, as renting an office space in Toronto where the rental fees are generally astronomical. It’s up to you as the business owner to decide the fate of your company and there’s a plethora of questions you must ask yourself in the process. Imagine if the majority of your employees live in the GTA, but your largest customer base or prospects are located in Toronto. This presents a problem of epic proportions when it comes to choosing an appropriate satellite office space. Should you choose the more affordable location to make it easier on your employees or should you stretch your budget a little to accommodate your clients? This is an important question that all business owners must come to grips with at some point throughout their careers.
Size and Layout of the Office Space
Another important thing to take into account is the size and layout of each potential office space you consider. Make sure to account for all of your employees and the amount of required space each of them occupies. Then, carefully examine the layout of the office space and ask yourself if you would be comfortable working there and whether each particular office space will suit the requirements of your company. Keep in mind that the type of office space you ultimately choose as well as the interior and exterior décor is a reflection of the nature of your company and in turn, yourself as a business owner.
Infrastructure and Facilities
One of the major benefits of renting a satellite office space is that, these days, most rental companies provide modern business with the basic infrastructural necessities that are expected to be included in their contract. This includes an efficient and dedicated administrative staff to take on reception duties; high speed Internet or Wi-Fi connectivity; full access to computers, laptops, tablets, and other modern communication and work-related devices; use of an inner-office kitchenette; and access to well-maintained, clean meeting rooms and boardrooms.
How Does Your Team Work?
Essentially, you need to examine the dynamic of your team and how well they work together. How will opening a new location or relocating members of your team affect that dynamic? Will it be improved or hindered? These are questions you must ask yourself and think about carefully before you decide to open a satellite office in any given location.
What Are Your Business Goals?
There’s obviously a specific reason that you’re even thinking about opening up one or more satellite offices? What is it? How does this course of action coincide with your specific business goals? Before you even take the plunge, you should clearly define exactly what your business goals are in the first place and then come up with a practical plan of action to make it work.
Current and Future Business Needs
Based on the goals that you come up with for your business, you should also consider the current and future needs of your business. Where does it currently stand and how are you planning on changing or improving it in the future? Think about these things as you decide on a proper size and layout for your satellite office venture. You should also consider your current budget and how this expenditure will impact your future business plans.
Your Branding and Business Culture
If you’re still stuck wondering why you should use virtual offices, then the answer lies within the type of brand image and business culture you’re trying to accomplish. Modern businesses benefit greatly from learning what a satellite office is and using this structure to their advantage. Not only can you diversify and expand your brand image, but you can make it more versatile to appeal to larger audiences on an international level.
Fully Furnished Satellite Offices for Your Business
Innovative Professional Offices offers high-end, beautifully and fully furnished satellite office spaces for rent in Ottawa, Mississauga, Toronto, and the rest of the GTA. Our all-inclusive office space rental packages are fully customizable to suit the specific needs of your business and fit within your budget without any obligation to signing a long-term or permanent lease agreement. It’s our mission to make it easier for businesses of all sizes—whether you’re just starting out or have been established for many years—to find reliable and efficient offices spaces to rent. For more information on the services we offer or to book a tour of our facilities, please contact us.