Sage-Tips

Are coworking spaces the future?

A coworking space is perceived to be the new future. It has a lot of potential in it. That’s why these spaces are considered one of the most fast-growing trends in the business world, especially after the pandemic. The coworking spaces are great for community building.

Why coworking is the future?

Productivity. Another reason why coworking spaces are shaping the future of work is their effect on the workers’ productivity. According to research by the companies Deskmag and Deskwanted, 74 percent of their employees were more productive in coworking spaces.

How are co-working spaces changing today’s work environment?

Coworking spaces have transformed the way we work today. It provides flexibility, takes care of the basic amenities such as desk space, electricity, internet connection and all a person has to do is pay for their space at a reasonable price.

Is coworking space profitable?

Today, roughly 87\% of the coworking spaces around the world are profitable and that number is frequently rising. Given the competition in today’s coworking market, you need to equip yourself with unique financial models and up-to-date strategies to grow your revenue.

Why do we need coworking spaces?

Coworking spaces allow you to get out of your own bubble: By exposing you and your employees to new perspectives, you can build a better business. A comfortable and efficient workspace is essential to any business’s success. While there are many benefits, choosing the right coworking space can be difficult.

Is coworking space a good business?

How does co working space make money?

Coworking spaces earn the majority of their revenue, unsurprisingly, by renting out desks (61\%). One in ten spaces earn all of their money from desk rental. The average space earns ten percent of their revenue from renting out meeting rooms and event spaces (10\% each).

How can I start a co-working space business in India?

Costs of Setting up a Co-working Space Business

1. Buying or leasing an appropriate property.
2. Buying furniture like desks, chairs, loungers, etc.
3. Setting up a high speed internet connection for customers.
4. Electricity and back-up electricity connection charges.
5. Property managers/ caretakers.
6. Cleaning staff.
7. Miscellaneous.

How many coworking spaces are there in India?

Coworking space is the need of the hour. There are over 100 branded coworking spaces operating in India. This figure is estimated to quadruple over a period of three years. The total number of shared spaces are expected to reach approximately 500 centers by the end of 2020 from a present figure of 150.

Are coworking spaces gaining momentum in India?

Coworking spaces are gaining momentum at a rapid pace in India and the industry is expected to double every year in the near future. Currently, 10\% of office spaces are occupied by coworking and are expected to rise to approximately 25\% in the next few years.

Are collaborative workspaces the fastest-growing workplace movement in India?

With collaborative workspaces emerging as one of the fastest-growing workplace movements in the last decade, JLL and WeWork (India) jointly launched India’s first co-authored white paper on the Trends & Insights in the Indian Co-Working space.

Which cities are the best for co-working spaces in India?

Delhi-NCR, Mumbai and Bengaluru were the most favoured markets for co-working operators in India, taking charge for more than half of leasing in this section during January-March 2019. The trend is slowly moving to tier 2 and 3 cities.

How will India’s startups shape the future of shared workspaces?

India has over 5,200 startups, strengthening its position as the third-largest startup ecosystem after China and the US, and, therefore, startups driven by millennials and even younger workers are likely to continue to take up seats in shared workplaces. Tier 1 cities will continue to experience the increasing number of shared workspaces.