The Boom in Co–working Spaces’ Demand During the Pandemic
The novel coronavirus pandemic changed our perspective towards life in 2020, and the danger still prevails in some regions across the globe. The businesses suffered due to continual lockdowns. Many start-ups had to shut down their operations, as they had to pay rents for their office spaces, even when they were not functioning.
Now, when the world is in the ‘unlock’ phase, the way the businesses operate is going through a transformation. Earlier, corporates and mid-sized organizations used to spare a floor area of about 100 square feet per person in their offices. However, today, the growing cost of real estate is changing the purposes of office spaces.
The Emerging Trend of Co-Working Spaces
In the current economic scenario, the start-ups are fastening their seat belts to fly high. The uncertainty for survival and steady business growth still prevails. So, the entrepreneurs prefer office spaces as an additional service and not for the physical presence.
As a result, start-ups prefer co-working spaces to operate their businesses. The trend is not limited to start-ups. Even mid-sized companies and big players are jumping into the fence seeking co-working spaces equipped with necessary amenities.
Revolutionizing the Work Culture
How about organizing a meeting with your prospects in a lounge? You would be sipping coffee, explaining the project using your laptop or even a projector. Interestingly, here, the co-working space provides the facilities.
Businesses of almost every size and nature prefer hiring talent operating remotely. Yet, while contributing as a team physically sitting at a place, a co-working space would be the best choice.
These luxurious workspaces combine desks to keep your belongings, meeting space, cafeteria, and other facilities like washrooms and in some cases recreational areas too.
So, modern-day entrepreneurs are embracing an all-new work culture to take their business goals ahead.
Advantages of Co-Working Spaces
Co-working spaces bring a great deal of ease to your business operations. Here are a few benefits of switching to a co-working space:
- Added flexibility:
Usually, the co-working spaces in India offer an average area of about 7,000 square feet. Here, about 80 people work peacefully. The proportion is steadily growing, as the demand for co-working spaces boomed during the pandemic.
Ultimately, the concept encourages younger demography to operate as a community. You experience flexibility in interiors and overall design too.
Co-working spaces offer almost every possible amenity to operate your business smoothly. The amenities include furnishing and interior, conference space, high-speed internet connection, parking space, on-demand food and beverages, and more.
Finding office spaces on a long-term lease would sound financially infeasible for small to medium businesses during the pandemic and otherwise as well. Co-working spaces offer desks and flexibly availed amenities at much lower prices.
Thus, co-working space is an economical option to continue with the growth graph of smaller enterprises.
- Added efficiency:
As your small to medium team operates through a much smaller space, you can expect better efficiency.
You get a multi-tasking and multi-talented workforce to work on your projects, minus the investment in office space. Thus, you can achieve more in less time.
- Prime location:
Most developers and operators in the co-working space sector offer flexible and affordable desks with amenities at the most sought-after locations across many metro cities in India.
The entrepreneurs can book a space in prime locations like Bandra Kurla Complex in Mumbai, MG Road in Bengaluru, Connaught Place in Delhi NCR, and more.
Bengaluru and Hyderabad recorded the fastest growth in this segment due to the presence of tech start-ups. Now, the trend is spreading across various other regions in the country.
Popular Co-Working Spaces Across India
- Awfis – CBD, Bengaluru
- Smartworks – Bellandur, Bengaluru
- Cowrks – Hyderabad
- Workafella – Banjara Hills, Hyderabad
- WeWork – Bandra Kurla Complex, Mumbai
- Red Bricks – Andheri (East), Mumbai
- Innov8 – Vikhroli, Mumbai
- 91Springboard – Yerawada, Pune
- Spring House Co-working – Janakpuri, Delhi
- Hive – OMR, Chennai
Online Platforms Offering Co-Working Spaces
Today, many online platforms like cowerker.com, coworkbooking.com, and delhico.com are bridging the gap between the developers and occupiers seeking co-working spaces. You can cruise through the options brought to your fingertips using well-designed filters.
Co-working spaces are booming during the pandemic, and the trend would prevail in the post-COVID era too. So, make a wise strategic decision and book your workspace today!