A cloud system may create and support multiple network offerings for virtual machines in a cloud zone. Physical networks comprising sets of network elements, such as routers, gateways, firewalls, load balancers, and other network hardware, may be created and updated within a zone. Network offerings may be defined and associated, using tags or other techniques, with virtual machine networks, physical networks and/or network elements. Cloud end users may request specific network offerings when creating virtual machines, or may request to move existing virtual machines from one network offering to another. The cloud system may use the requested network offering to identify the virtual machine network, physical network, and/or network elements corresponding to the requested network offering. The cloud system may allocate a new virtual machine network and configure the network elements within the associated physical network to provide network services to the virtual machine.