Executive Suites

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May 17, 2009 10:49 pm

Has anyone here rented an executive suite before that can provide some feedback?



I'm looking to go Indy and would like to keep my costs low while transitioning my book. I'm currently in the Northeast and there are brand new suites going for $700 a month including a receptionist in a new upscale building. Office is about 150 square feet with conference rooms and other services available for extra cost.



Although I think this would be only for the first 6-12 months while I get settled, I just want to make sure there aren't any horror stories or major drawbacks I'm missing. Lease agreement allows for early termination if I decided to rent traditional space within building (something I'd like to do if I can partner up down the road).



Any thoughts/comments are appreciated!

May 18, 2009 5:12 am

I have been in one for 3 years.  I am paperless, so when the initial year was over, I down-sized the big glamorous space to a smaller practical space.  I dumped the lush executive-style corner, and basically have the ritz of a large 10x15 conference room.  Control your costs.  Receptionist answers telephone the way you want.  I never use the "secretarial services" as they are too costly.  I would say if you have good mobile phone reception in the space, do not use their long distance, use your mobile.  Use internet fax as it is cheaper than the EXEC Suite .15/page.  Get a busines rated All-In-One like Konika Minolta MF with a duplexer (about 1,500).  If you have staff, and your conference rooms are usually full, (I get 15 hours/mo free use) then consider 2 small offices...one to work in (no client view) and one to visit in.  Nice part about that is the furniture for conference room is cheap to make it look professional.  That way 2 file cabinets and a cheap door can be a desk to work from.

 
Most everything is negotiable with executive suites, just try to get at least 125 inbound calls/mo included in your monthly fee at least.  Make your default number with your b/d your mobile and that will help keep costs down.
May 18, 2009 7:02 am

Thanks Amp,



For the phone system, we can use whatever we want so I'm looking at a VOIP.   I am also going to use some type of e fax system and buy my own printer/scanner machine. Offices come fully furnished with nice dark wood desks and cabinets.



Right now, there are two of us renting offices side by side with a connecting door/glass arc to make the place look like a private suite. The other FA may work part time (mother of 2), so I could have a part time assistant use that office if needed.



I was just worried that clients may question why you have just 1 or two offices with other businesses next door. Just a thought coming from a large bank. Of course, that thought is probably just one of those "insignificant mental barriers to going Indy".

May 18, 2009 8:01 am

Omar, why not pitch a tent? 

May 18, 2009 9:54 am

I would think that the Exec suite provides all of the services.  My office doesn't allow names on the doors, etc and maintains a certain dress code.  They also provide the phone system so it sounds like the place you are in is charging high dollar for real estate rather than services and real estate.  Get a good idea of what goes in and out of the building.  Look at the building marquis and identify all of the businesses with the same suite number.

 
I had a lawyer friend who was quite high end, and was contemplating a smaller player in the executive suite space.  Place looked great, but after I had him study the clientele coming and going, he found that a majority of the small building was sub-prime mortgage brokers and alot of personal injury attorneys.  Needless to say the folks coming in were always dressed quite comfortable due to their injuries (not professionally dressed) and the sub-prime mortgage took care of themselves, but the lobby was always littered with screaming kids, not really finacial advice types, etc...you get the picture. 
 
So know your neighbors is my warning.
May 18, 2009 1:07 pm
Omar:

I am also going to use some type of e fax system

 
O - On a recco in the technology thread, I just signed up for Packetel's fax to email service.  About the only drawback I've found thus far is that my number is not local for this area.  Given the low per minute cost of long distance and the availability of unlimited L/D packages out there, I'm not too concerned about that.  On the plus side, for $3.95/month, I'm getting unlimited inbound faxes sent to TWO email addresses (mine and my assistant's) in PDF format.  Aside from not tying up a line, fax to email is a great paper/ink/toner-saver as I print very little of what I receive now.  There's an additonal charge for outgoing faxes, but I didn't pay any attention to that since I intend to use a traditional fax for outgoing transmissions, but didn't want to tie up a line for all the incoming garbage I get.  Here's the website...can't recall at the moment who recommended this particular service, but I haven't found a better feature/cost balance from any of the other services I've looked at....
 
http://www.packetel.com/
 
Good luck with your transition...
May 18, 2009 4:57 pm

Amp and Indyone,



Your feedback is much appreciated.



Amp, this office space is being marketed to higher end clients and they have dress codes and restrictions on what you can put in your office to try and limit who they get for tenants. Also the office manager seems pretty bada$$ so I feel confident that I won't have a problem.   You point is valid though, the last thing I need is some idiot down the hall that has convicted felons coming and going.



Indyone,



I looked at faxcompare.com and found that there are about 6 competitors around $10 a month for an outgoing/ incoming fax plan.   You usually get a few hundred pages included in that rate, so why not get rid of that extra phone you use for your fax? Like you, I'm looking to become paperless to save on office supplies.



Thanks again!

May 18, 2009 5:26 pm
Omar:

I looked at faxcompare.com and found that there are about 6 competitors around $10 a month for an outgoing/ incoming fax plan.   You usually get a few hundred pages included in that rate, so why not get rid of that extra phone you use for your fax? Like you, I'm looking to become paperless to save on office supplies.

 
O - the reason I won't go that way is that the outgoing fax line will most of the time be used as a rollover voice line.  We fax maybe five minutes a day tops, so most of the time, that line will be used for another purpose and I figure I need it anyway to avoid a bunch of calls rolling over to my cell phone (which gets the call if both lines are busy).
May 18, 2009 9:42 pm

IMHO only, faxing went out with the 20th century.  I do not have a fax number, and I do not use them.  My b/d is paperless, and I have the ability to send secure, encrypted email of data of personal nature, and the client can reply, enclose the scanned docs.  Funny thing, all of my 60+ age group has a pc and a scanner, only a few working aged folks need to mail it in or fax, so they fax it directly to the b/d toll-free, and it gets imaged to their household data file for me.  So you can get around the fax issue.  (my ES charges .15/sheet on the fax)  UGH!

May 18, 2009 10:02 pm

Yeah,



I'm all about technology and going paperless, but I'm not quite ready to do without the fax. I do have quite a few clients that for whatever reason, still use a fax machine.



Looks like I can get an e fax going for about $10 a month. I'll take it.



Amp, is your b/d email address encrypted or do you use a third party email that has that service?

May 19, 2009 8:40 am

commonwealth provides encryption at the sender's discretion.

May 19, 2009 8:58 am

We are paperless also, but I have to say, there are plenty of clients (and even vendors) that need to fax stuff.  Not everyone has access (or the desire) to be scanning and e-mailing.  I can scan at home, but if my PC is turned off or I'm rushed, it's just way easier to pop something in the fax and dial the number. 

May 19, 2009 9:53 am
Indyone:
Omar:

I am also going to use some type of e fax system



O - On a recco in the technology thread, I just signed up for Packetel's fax to email service. About the only drawback I've found thus far is that my number is not local for this area. Given the low per minute cost of long distance and the availability of unlimited L/D packages out there, I'm not too concerned about that. On the plus side, for $3.95/month, I'm getting unlimited inbound faxes sent to TWO email addresses (mine and my assistant's) in PDF format. Aside from not tying up a line, fax to email is a great paper/ink/toner-saver as I print very little of what I receive now. There's an additonal charge for outgoing faxes, but I didn't pay any attention to that since I intend to use a traditional fax for outgoing transmissions, but didn't want to tie up a line for all the incoming garbage I get. Here's the website...can't recall at the moment who recommended this particular service, but I haven't found a better feature/cost balance from any of the other services I've looked at....



http://www.packetel.com/



Good luck with your transition...





I use rapid fax..$9.95/month.. local number, 300 fax pages(incoming or outgoing)

May 19, 2009 4:23 pm

If you have a blackberry and set it up properly you can receive faxes on your phone and forward them to your email account to view and print.