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Co-working spaces –the new buzz
Want to walk to work, reduce travel time and increase productivity time, avoid wastage of business hours in coordination with housekeeping staff and internet challenge …then Co-working space is for you. Co-Working today is the other word for a complete lifestyle as an average person spends 70-80% of time at work thus agood co-works takes care of all your backend pain points and allows you to give your best to work and also design your life for a perfect profitability of your time.
In fact today co-working is not just restricted to start-ups even established players inthe market like Amazon, Google, Infosys, Apple are looking at similar solutions. According to real estate giants like CBRE, Knight Frank and Cushman Wakefield in the industry in another decade 50% of country’s population would be leveraging co-working spaces compared to managing their own leased space.
The flexibility of co-working space is manifold. Also it can be operated without any long-term commitments. Starting from a daily to a monthly arrangement can be made. It also is financially more viable especially considering the volatility of the market.
Some of the main reasons for the popularity are following:
1. Financial Leverage– it’s a flexible model that allows you to get best on your financials. Also it also allows you freedom from getting bogged down about interior and civil work. It saves the money spent on interiors, furniture and fixtures. Working out of a co-working space can save expenditures on all these depreciating assets.
2. Easier hiring and managing talent– If you are looking to hire the fresh talent you can look within your shared space. You would have access to various freelancers and companies you can outsource your project to.
3. Easier Coordination or administrative management – One doesn’t need to think about the accessory work of the space also other aspects can also be outsourced. One call and the staff will do everything for you. The entire facility is managed and maintained by the co-working management.
4. Networking with critical investors– Your net-worth is your network, thus networking in todays world is very important if you want to take your business forward. There are ample opportunities to grow your network and build relationships within the community and during various events organized at the co-working space. The events could be workshops and thought leadership talks which would, in turn, enhance the competence and work ethos of you and your team.
5. Access to various resources– You have access to the various facilities at the co-working spaces be it unlimited beverages (tea and coffee), pantry services, high-speed internet/WiFi, meeting/conference room, printers, recreational areas (pool, foosball, table tennis), free events and thought leadership seminars. These places are also accessible 24*7 mostly, be it Independence day or Diwali, you are free to come and use these spaces.
6. Community Events and Engagement– Co-working spaces keep members engaged with constant engagement activities and events. They try to avoid an ‘All work no Play’ culture. All festivities are celebrated to ensure a healthy work-life balance.
If you are thinking of moving into a shared office space setup; this is the right time. With the shared economy flourishing this is going to be the future of our milieu.