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Tag: coworking community

  • The Ultimate Guide To Improve Coworking Spaces

    A coworking space is slightly different from a normal routine office or you could say that space for “Nomad Works”. Just walk into a coworking space and that vibe that boosts up your energy levels is magnificent, which enthralled occupants bring to space. It’s important to improve your coworking space and bring that deep focus to private desks.

    Since coworking space is shared workspaces that offer affordable office workspaces so it is essential to bring up the suite of the office like hot desks, coffee tables, and meeting rooms. At a time like this, co-working spaces bring mostly remote workers, startups, workshops, entrepreneurs, and freelancers to escape their isolation from home and stay at bay from hectic office hours.

    The observation showed that Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) have fueled coworking spaces that have redefined the concept of traditional working and inculcate forms of technology to bring in the disruption in the space.

    The culture of coworking has drawn many because of its cost-effectiveness. Instead of buying a private office, you can rent out what you need. This could be in the form of daily fees or monthly fees which varies on the membership and this proves to be a lot more flexible by managing a coworking space.

    Coworking Space Provides the Right Kind of Space Fulfilling In
    Tips to Improve Your Coworking Space
    Top 10 Coworking Spaces in India
    Coworking Continues to Grow

    Coworking Space Provides the Right Kind of Space Fulfilling In

    1. Core Needs

    This follows up the automation system control and security system of the building. Emphasis on installation and setup of these systems is not a lot to make but due to its custom programming, it could be error-prone which has left many buildings undeserved. Control access to offices, meeting rooms, elevators, and data centers comes under the flexibility of coworking spaces.

    2. Space Needs

    The twining of high-quality space in urban centers and the flexibility of office spaces have given the rise to coworking spaces. It’s seen that office has started renting the coworking spaces for their employees too, who want a change in working spaces.

    3. Productivity Needs

    Employees with a lot of engagement are productive which leads to financial gains. The workplace plays a role in employee engagement with flexible work location and completing common tasks like engaging more colleagues and navigating work.

    How to improve Coworking space profitably?

    For a neat and quite-a good improvisation, you have to lay down some objectives, for instance, what you want to improve on so that they get aligned with your business strategy. Here are some benefits of coworking space:

    • Productivity & Creativity
    • Interaction of a like-minded community
    • Flexibility of Services
    • Comfort, well-being, and biophilia of your space
    • Hospitality in coworking
    • Brand
    • Costs-effectiveness

    Tips to Improve Your Coworking Space

    1. Create A Space Layout

    This is the most crucial head start if you are looking for a business strategy by improving the space layout by creating different zones of Private rooms, Team rooms, Meeting rooms, large tables, Open-space, cafeteria, and, of course, rest-rooms.  

    These different rooms work as a change of working spot to come up with some good ideas or a table of hot debatable topics.  A place like coworking or maybe a small coworking space could make workers fall in love with their work. Always choose a flexible and collaborative space that every co-worker is looking for, and always avoid coercion.

    2. Choosing Desks and Chairs Wisely

    coworking creche
    Coworking Space Tips

    A quite an obvious step to match the comfort level of members working on it. It is seen that many places were caught doing it wrong. Proper measurements of desks and chairs should be taken to comply with members so that they feel good. Standing desks, comfy chairs, furniture, and sometimes adjustable desks and chairs tend to prove a great option in a coworking space.

    3. Managing Distractions

    Creating an office environment when it really isn’t an office turns out to be very difficult, although it’s cool. Remember that coworking space is an open working but it’s a disadvantage of it because of noise and numerous distractions.

    Paying attention to acoustics and visual contact, and working on it can limit this limitation of coworking. Improving it via floors, ceilings, wooden furniture, and soundproof doors has helped a lot to limit it in recent times.

    Tips to follow while continuing the work after pandemic
    Tips to follow while continuing the work after pandemic

    4. Biophilia

    coworking space in India
    Biophilia in Coworking Offices

    Facts have shown that Biophilia tends to make us happier and focus more. Get flowers and indoor plants and get a lot of them but not that much so that it starts to become a distraction to everyone. This will add a lot of value and fresh air to the place which could be appreciated.

    Decoration of your space could create a lot of impact on beautifying the space. Setting up a place and that too of a choice of others is a difficult task but it can turn out a lot profitable in the upcoming time. Therefore, the decoration is a way to enhance the spot to attract business enthusiasts.

    5. Whiteboards or Enable Wall Writing

    Sometimes co-working space may lack the number of meeting rooms, so it turns out to be difficult or you can’t separate brainstorming booths. To simulate the productivity of the day, a whiteboard could help create a lot of guidelines, thought structures, or the motivation for the day that you can work upon.

    Using a special type of paint on the wall which enables writing on the wall and rewriting can also turn out to be a very good option. This really could give life to your place with a nice coworking environment.

    coworking space in India
    Coworking Space in India

    6. Collaboration

    This includes engaging with your coworking members and tenants of the place which by the way includes a cross-communication flow between the members.

    This not only creates a social environment but can turn into a micro-event with the members of the community very effectively Gather feedback from every team and try to work on the upcoming improvisations with time. After all, you want the place to please your members and make them feel good.

    7. Healthy Snacks

    Ease Cafe & Coworking Space
    Ease Cafe & Coworking Space

    Snacking during break hours can boost you up. So, providing them with tasty, healthy but less- junk is always a good option. Fruits, nuts, salads, raisins, smoothies, tea, coffee, and sugar-free cookies are always best for them and have proved to catalyze their working process, creativity, interaction, and communication with each other. Because you never know what could turn out as a golden idea on a coffee table.

    8. Differentiate Your Coworking Space- Coworkcrèche

    Coworking creche
    Coworking Creche

    Ever heard of Coworkcrèche? It has further added that coworking space is not only an office working place but as the name suggests, it could prove to be a place for day-care for a child. It has allowed parents to drop off their child at a nice working place that is reserved and rather safe. This is one of the specializations to differentiate a coworking space.

    India has witnessed a huge rise in the number of coworking spaces across all of the metropolitan cities like Delhi, Bangalore, Ahmedabad, Bombay, and many more. Here are some coworking space providers in India.

    List of Best Coworking Spaces in India [2019 Exhaustive list]
    Coworking space is an office or a building where individuals or a group ofindividuals can come to work on their personal or professional projects.Individuals pay to the company which is providing the space. Almost all such coworking space companies provide additional facilities which attract the …
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    Top 10 Coworking Spaces in India

    1. We Work
    2. Bangalore Coworking hub
    3. Bombay Connect
    4. Regus
    5. Innov8
    6. Investopad
    7. Awfis
    8. Cowrks
    9. Social Offline
    10. 91 Spring Board
    The above graph shows the estimated number of coworking spaces worldwide
    The above graph shows the estimated number of coworking spaces worldwide 

    Coworking Continues to Grow

    With the growth in the freelancing economy, the coworking culture adapts the young member of society who finds themselves in freelance work most o the time. These spaces have turned out to be more effective for small organizations with a few to several employees.

    Many Larger organizations have accepted the deal to make a small unit of their office into a coworking space for interns and numerous workshops that could be held at ease. The design and culture of a coworking space serve for a corporate to come with fresh plans and growth.

    Let’s not forget that whatever the sector is there have to be ways to battle the pandemic in a coworking place. There has to be the adoption of some non-negotiable practices like thermal temperature screening, maintaining air quality of the space, practicing social distancing, availability of COVID-19 hygiene products like masks and sanitizers, and most importantly awareness communication.

    Only this can’t be our sole fight but to improve your coworking space in every possible way and also to give away the values and image conveyed by the coworking space.

    Wonders! Since we have started to hear about these spaces in previous years, we expect to see more of these coworking places popping up near us which are providing the members with quality services.

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    Conclusion

    Coworking is not something new to be given a better introduction. Coworking has found a way to reach more population due to the involvement of freelancing. The tips on improving the coworking environment with the list of best coworking spaces available in India and some of the related data has shared in the above context.

    FAQs

    What is meant by a Coworking space?

    Coworking space is a business for some people and a home to many startups. It is a place where people can get some space to work on their projects. When you don’t have a good environment at home to work or a safe place to discuss your startup idea, they will be helpful.

    What is the biggest challenge faced by coworking places?

    The most important issue found with coworking spaces is privacy. Coworking spaces allow less privacy to the working people when compared with the home.

    What are the benefits of a Coworking space?

    Benefits of a Coworking space:

    • Productivity & Creativity
    • Interaction of a like-minded community
    • The flexibility of Services
    • Comfort, well-being, and biophilia of your space
    • Hospitality in coworking
    • Brand
    • Costs-effectiveness

    How can one improve coworking space?

    Coworking Space Tips for the one to use are:

    • Create A Space Layout
    • Choosing Desks and Chairs Wisely
    • Managing Distractions
    • Biophilia
    • Whiteboards or Enable Wall Writing
    • Collaboration
    • Healthy Snacks

    Who uses Coworking spaces?

    Coworking spaces are used by people belonging to different fields. People like freelancers, entrepreneurs, etc. are all known to use coworking spaces.

  • How to Start a Profitable Coworking Space in India (5 Step Business Plan)

    Before we begin to talk about coworking, why not brush up on some basics a bit? By the way, did you know that the first coworking space was founded way back in 1995? Well, that’s an interesting fact.

    There is no denying that these spaces have come a long way now. However, the guiding principles, collaborations, and sense of community remain unchanged. The world has seen a tremendous change in working trends in the past 25 years.

    An increasing number of the workforce now likes to get engaged in freelancing or contract work instead of sticking to the same organization. The world of freelancers has already grown and keeps on increasing every single day.

    Now that professional lives have become mobile and people have the flexibility of choosing their own workspace, no one likes to work in isolation or at home. That is when coworking spaces come in handy. They create community hubs for all like-minded people where they can get together, collaborate, share ideas, and keep working independently.

    So, if you want to capitalize on this growing and steady demand, consider starting a coworking space. While it is not an easy task, this guide aims to make the entire process easier and more organized. This guide covers everything you must know and should do to start a highly successful coworking space business.

    The Future of Coworking Spaces
    How to Start a Coworking Space (Complete Business Plan)

    The Future of Coworking Spaces

    There is no denying that the future of coworking is bright in today’s world. Numerous industry leaders and intellectuals have predicted the importance of coworking spaces in every industry during the current and upcoming times.

    Moreover, the mobile workforce embraces the coworking spaces like no other. That is because they offer more than just affordable office spaces and necessary amenities. These spaces offer a place for like-minded individuals to create their ideas, resources, and network. That also helps everyone grow their individual businesses.

    If you are a business or an enterprise thinking about starting a coworking space, now is the right time to do so. The interest in coworking spaces seems to be on the rise and so is the demand.

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    How to Start a Coworking Space (Complete Business Plan)

    Now that we know about coworking spaces and the future that waits for the same, let us investigate the necessary steps that you can follow towards starting a coworking space business.

    1. Knowing your intent

    Firstly, figure out what made you decide to start a coworking business. Once you get the answer, it will be easier for you to focus on the main goals. Moreover, you need to focus initially on the benefit instead of profit to keep running the space smoothly. The arena that you are going to create should aim at bringing all the talented people together.

    2. Study the demand for coworking space business

    You need to investigate whether your coworking space has any demand in the market before aiming for anything bigger. That decision should be taken before you buy any furniture or sign a lease for the space.

    You can also create a group on social media and host some events to promote interest in the same. That will not only help you do some necessary groundwork but also help in building a strong online community. That will serve as a marketing avenue for your coworking space.

    3. Deciding on your framework

    The business model for coworking space falls under different categories. You need to pick either of them depending on your circumstances.

    Private offices

    You can always rent out private offices within your coworking space to maximize your income. You can also put on an advertisement for the same while inviting all the creative and talented people to come under a single space.

    Business space

    If you are someone having a business with some unused office space, then you can surely set up a coworking space there. It will also help you prevent some of the maintenance costs and office setup expenses. The main advantage here is the extra amount of money that you will earn apart from the one coming from your already established business.

    Private space

    You can always partner with another person like a café or a property owner to start your coworking space. You can approach certain pubs, restaurants, or cafes that can act as coworking spaces during closing hours. That will not only bring the owner some extra income but also give the fruition of your labor.

    Public space

    Looking for an untapped goldmine within your city? Your local city council may prove to be one! You can discuss with the members about the space and funding opportunities and see if that aligns with your idea.

    Events

    You can always host events within your coworking space that can provide you with a revenue stream. That is also another way of making your space more visible to the public eye. You can always host meetups, film nights, and events of a similar sort to promote your brand further.

    4. Financial Model for Coworking Space

    It is essential for you to have sound financial planning ahead of starting your coworking space. Moreover, make sure that you are aware of all the legal registration and insurance matters related to the same. The most important things that you need to focus on are structuring your fee schedule, financing your coworking space, and tasks of a similar sort.

    Finance

    You need to first decide how to finance your coworking space before beginning with the work. You also must decide whether you will be investing your money or will approach investors. You will also find many other good funding sources like family members, friends, local government bodies, business contacts, and more.

    Price structure

    You must place your price structure based on time. It may be a daily, weekly, monthly, or even yearly rate. You can reward the users who book your space for longer periods. You should always request advance booking to avoid loss if the person doesn’t show up later.

    5.  Economically viable way

    It is always recommended to make your plan economically viable to make a profit in any business. The same applies to the coworking space business. You must try integrating as many services as possible into your coworking business. That will make the users spend more money on the same. For instance, you can either set up a cafeteria, a gym, or even a sauna within the area.

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    Start Marketing to Spread the Word

    Once everything is ready, you should now put your entire focus on attracting people. Start running paid ads on different social media platforms to let people know you’re open. You should design your marketing strategy after knowing where your target audience hangs out the most.

    Besides running ads for your coworking space on multiple platforms, you can also launch some excellent influencer marketing campaigns to spread the word faster. Hiring a performance marketer for this task would be a better option.

    But what if you don’t have enough marketing budget? Well, there is still a way out. One great way to market the coworking space at zero marketing cost is by cold pitching to your target audience on Facebook.

    Join Facebook startup groups that are for professionals working in your business location. After joining, track all the active members in the group who show interest and visit startup events, and pitch them to your workplace. It will require significant time and energy, but the returns will be worth it.

    It’s all about targeting the right people from online communities, striking a conversation, and making an appealing pitch. You can start by quickly striking up a conversation with them and later introduce your coworking space. It can appear like a tedious, long process, but it works.

    Conclusion

    Coworking is a great place for socializing. It can not only enrich your daily life but also help you exchange ideas with other people. Apart from that, you can stay up to date about the latest trends and share work at times. Financially, it is the most advantageous business that helps you share resources, pay bills, and meet interesting and talented people.

    FAQ

    How profitable are coworking spaces in India?

    If you build a concrete business plan it is likely that your coworking business will become profitable after two years in operation.

    How do coworking spaces work?

    Coworking spaces act as a shared workspace where the business offers office space for companies or freelancers who are looking for a budget-friendly alternative to a full-fledged office.

    What is the future of coworking spaces in India?

    The future of the coworking space industry in India is growing rapidly and is expected to reach $2.2 billion in 2022.

  • Coworking Space – Facilities and Benefits

    With the state of the world at the moment, most companies are opting for a coworking space instead of having a building all to themselves. This saves them on the rent and utilities plus it’s fun to work with different companies in the same space! A coworking space is a space shared by more than one company allowing saving on certain costs. Here are some facilities and policies that should make the ideal coworking space successful (in my opinion):

    24-Hour Access

    Entrepreneurs sleep, but entrepreneurship never does. Any entrepreneur may need the space to work late at night. So give 24-hour access to the office with the ability to buzz in guests after hours.

    Guest Rooms with Bathrooms

    You never know when someone is in such a situation that they need a guest room to spend a night. I am not saying you need to convert it into a hotel, but you still need a spare room to be always prepared.

    Free Invitation for Entrepreneurs and Creative Professionals

    Invite entrepreneurs and other professionals. Let your users suggest who you should invite. It markets the co-working space. Also, divide the space into zones to create different vibes.

    Lots of After-hours Event Programs for Tenant Interaction

    Event programming is a programming paradigm in which the flow of programming is determined by the events. Not just technically, you should do this to make the environment better too.

    Tenant Logos on the walls

    Marketing is the blood of the business. So, make sure you do everything to market your brand. Many people use the co-working space to shoot professional videos. It will market your space. However, don’t stuff the whole office with your logo. One at the entrance and some on the walls are enough for the marketing purpose.

    Graffiti for Brain-storming

    Graffiti is a sign of a young creative mind. Having one on some walls of your co-working space will help people think creatively. You should also leave some blank white walls as some people just like to stare at the plane wall to think differently.

    Lots of Whiteboards

    You cannot think of a startup without a plan. And plans need to be visually represented. To write their imaginations, people will need whiteboards with wall-mounted markers & erasers

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    Casual Group Communications Areas

    Professionals are not just colleges, they are friends too. And I am sure you don’t want some friends to disturb everyone in the space. So it is better to have a separate area where groups of people can chat with each other.

    Closed Sound-proof Rooms with Great Acoustics

    The space can have light music in the background or white noise for people to stay focused. You can divide the area with different background noise for different kind of people. Do not forget to make the space soundproof.

    Private working Nooks

    Some people may need to be alone to focus for some time. It will be great if you have a corner room with bright lighting where anyone can spend some time.

    Dorm Rooms for Individuals to Brain-storm

    Co-working spaces are much more important for freelancers than other business entrepreneurs. So, you need to provide some good service to freelancers too. A personal dorm room where they can work peacefully will make the freelancers happy.

    Food Court

    As the entrepreneurs and freelancers will not be able to go home for a break or go out somewhere, due to lack of time, they will need food at the space itself. You need to provide good quality food to them with a prepaid card and credit payment plan.

    Junk-food and Snack Bar

    Junk food may not be healthy, but they are great when you are in hurry but need to eat something. Also, the snack bar will make it even faster for them to have a little treat while working.

    LAN Gaming Ready Work-stations

    Gaming is life for almost all the tech entrepreneur. Many people play video games to be stress-free. So, you have to have a gaming-ready work-station with a good LAN connection.

    Acoustically-isolated Telephone Booths

    As we previously mentioned that you need to have either white noise or light music in the background but it is not always good. Some people may need a space where they can peacefully talk on phone. So, it is important to have a dedicated place which will be noise free and where everyone will get a good connection.

    A Studio for Podcast/Video Recording

    Youtube and podcasting are becoming very popular these days. Hence, you need to have a studio in your Co-Working space where people can record their audio and work on it.

    A Green Screen Section in that Room

    As I said, Youtube is becoming popular, there is a strong possibility that you can have some Youtubers coming to work on their projects. However, people don’t record in old style these days. So, Youtubers will be looking for a green screen where they can record the video and then easily edit it.

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    Super-fast WIFI

    This one is the most important. Each and every person who will be coming into your space will need the internet every second he/she is in there. So, you need to have a super fast WiFi connection.

    Lots and lots of wall Power Sockets

    No, No! We cannot forget it at any cost. You need to have at least one power socket after ever 1 feet distance.

    Free-flowing Caffeine in Multiple Varieties

    Coders consume more coffee cups while creating software than they write codes. So, you need to provide the caffeine into many forms. For instance, a machine should be capable of creating black coffee as well as normal milk coffee.

    Free Snacks in the Fridge

    Don’t expect them to be so lost in their work that they will not even feel hungry. You need to keep some free snacks so that people can have something whenever they feel peckish.

    A High Capacity Microwave and Grill in the Cafeteria

    People may bring their own food and want to warm it up. So, a microwave will be more than enough for them. You can also have some BBQ grill in there.

    Either Warm White or Daylight Diffuse Lighting

    Very bright light can be very annoying to some people. Having a warm light will be a great help to some eyes.

    Comfortable Ergonomic Chairs and Desks

    Office ergonomic chairs and desks are totally different from normal desks and chairs. So you need to choose some good quality ergonomic chairs. Remember, a bad choice can affect someone’s health.

    Sleeping Bags

    Might sound stupid, but there can be some situation when someone needs to remain at the office. So it is better to be always prepared.

    Projector and TV in each Networking Room

    Projectors or TVs are important for corporate meetings. People who need them will probably from mid-sized corporations and so, they can be a big lead for you.

    Smart Classroom Whiteboards for the Projectors

    You may have seen them in the school’s smart classrooms. They are touch sensitive and can be used as a touchscreen for projectors.

    Easy Access to Public Transport

    Not everyone will have a personal transport. Also, it not even good to have one unless it is electric. So, it will be great to have the office which will be near some bus station or can be easily located by cab drivers.

    Location should be near Cafes and Shopping complexes

    Some people may not like the eateries of your cafeteria. Having the space office near some restaurants and cafes will be a great plus for entrepreneurs.

    Game Room

    A game room with toys like LEGO and remote controlled toys to play with will make your co-working space the coolest place to work. That Game room should also have board games, pool table, foosball, and video gaming consoles too.

    An Auditorium to Host Events and Movie Nights

    It will just make your space more fun for people who don’t like gaming. Also, you can hold some events there like a speech by some entrepreneurs, etc.

    Resident Advisors and Mentors

    If you can provide mentorship to your customers, what could be better than that?

    Expandable/Contractable Space Arrangements

    Someday, someone will need more space than usual. You need to be ready.

    List of Best Coworking Spaces in India
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    Resident Lawyers

    You may need them someday. So have some good contacts.

    Mailboxes to Collect Postage

    Many of your users will ask you to receive postages on their behalf. So, you can simply place a mailbox to collect all the mails in one place.

    Demo days for Graduating Companies

    Some people don’t believe so easily. So, you need to provide them some demo days to experience the co-working space.

    Printing Shop

    Provide an in-house printing shop in the coworking space retail block along with the food court. It will make you some bucks and serve your user as well.

    Regular Chair Massage Appointments on Call

    Just another cherry on the cake. But it will be useful and your users may appreciate it. Just make sure to provide it at a reasonable price.

    Printer in every Room

    Yes, you can provide a printer in each and every room and ask them to bring their own paper to print on. Also, they will pay for new cartridges.

    If it’s a very large space like Google’s, scooters or Segway:

    Saves time in traveling withing the facility plus its a whole lotta fun!

    Other Facilities :

    • Attended reception area for guests with seating
    • Fast video conferencing equipment to skype partners, mentors, and investors
    • Frequent value-adding visitors such as VCs and other mentors
    • A day room for taking nap.
    • An in-house presentation/graphic designer
    • An in-house filmmaker
    • A brand that can help validate their credibility
    • An online wiki and/or physical bulletin board
    • No-smoking environment
    • Pet-friendly/respectful policy (for those who do/do not like them)

    Sounds like a dream, doesn’t it?

  • YesssWorks- Seeks Coworking And Growing Together

    The content in this post has been approved by the organization it is based on.

    A coworking space is slightly different from a normal routine office or you could encapsulate it as a space for “Nomad Works”. A coworking space is like a custom office that offers affordable office workspaces, so it is essential to bring up the suite of the office like hot desks, coffee tables, meeting rooms. Coworking in India will be growing to $3.5 billion by 2022 from $350 million in 2018.

    YesssWorks is a coworking space based in Mumbai and it brings mostly the remote workers, start-ups, workshops, entrepreneurs, and freelancers to escape their isolation from home and stay at bay from hectic office hours.

    YesssWorks- Company Highlights

    Startup Name YesssWorks Spaces
    Headquarter Mumbai
    Founders Mihir Shah, Nainesh Kapadia
    Sector Coworking/Real Estate
    Founding Year 2019
    Website yesssworks.com
    Registered Entity YesssWorks Spaces Pvt.Ltd

    YesssWorks- About and How it Works
    YesssWorks- Founders
    How YesssWorks Started?
    YesssWorks- Logo and Tagline
    YesssWorks- Vision and Mission
    YesssWorks- Target Market Size
    YesssWorks- Products/Service
    YesssWorks- Startup Launch
    YesssWorks- Business and Revenue Model
    YesssWorks- Challenges
    YesssWorks- Customers/Clients
    YesssWorks- Advisors/Mentors
    YesssWorks- Funding and Investors
    YesssWorks- Price
    YesssWorks- Future Plans
    YesssWorks- FAQs

    YesssWorks- About and How it Works

    YesssWorks Space is a coworking space designed and operated in a way that not only provides the workforce with a conducive environment to increase their productivity but also inspires them to grow professionally. Keeping the emerging need for budget friendly spaces in mind, YesssWorks paved its journey in 2019 focusing on Mumbai & Pune.

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    A coworking space is slightly different from a normal routine office or youcould say that space for “Nomad Works”. Just walk into coworking space and thatvibe which boosts up your energy levels is magnificent, which enthralledoccupants bring to space. It’s important to improve your coworking spac…
    StartupTalkyAvantika Bhardwaj

    YesssWorks coworking space is designed for effective working, with ergonomic & aesthetic designs. This not only enhances productivity but also supports creativity, and builds up a friendly community with great networking opportunities along with all requirements needed for running business operation in place. The house team provides with their availability to take care of all functions of the workspace so you can concentrate on your business.

    YesssWorks- Founders

    YesssWorks Space is founded by Nainesh Kapadia and Mihir Shah.

    Nainesh Kapadia and Mihir Shah- Founders of YesssWorks Space
    Nainesh Kapadia and Mihir Shah- Founders of YesssWorks Space

    Nainesh Kapadia has done his MBA in International Business, Trade and Tax Law from Victoria University in 2001. Being the Founder and Director of YesssWorks, he develops business strategy and is a growth expert. Mr. Kapadia holds his expertise in working, leading and managing industries across packaging, banking, dairy, automation, e-com and technology. He has shown his keen interest in Rural and Economic Development models. He has a soft corner for animals and being a business man he never lags behind when it comes to volunteering. He is a trustee member of well-known animal welfare society i.e. Shrimad Rajchandra Love & Care.

    Mihir Shah had done his B.Tech in Electronics from University of Mumbai (batch-1997), and M.S. in Computer Engineering from The University of Texas at Austin. After graduating from his engineering life, he right-away geared up for Management Studies in Finance from The Wharton School. Maintaining his responsibilities as a founder of YesssWorks, Mr. Shah is the Director of Ubuntu Montessori and is also Co-Founder of XSTOK. It can be said that he had his major break in January 2015, and he’s been holding high positions since then.

    Given the small team, both focus on all aspects of the business. However, individual responsibilities and various roles are divided for clarity in responsibility.

    YesssWorks Space Team with founders
    YesssWorks Space Team with founders

    How YesssWorks Started?

    YesssWorks emerged from earlier Fundtonic, which was a seed funding incubator. The company started as a coworking spaces to provide office space at affordable prices to its incubated companies. Modern and open custom office space at affordable prices was a big hit with its incubated companies and the demand spread to a broader startup universe. This leads to the opening of a new vertical in coworking sector to bootstrapped startups, and eventually established corporates providing holistic business space solutions.

    In 2019, the coworking business was carved out into a separate entity to focus entirely on providing a contemporary working environment. YesssWorks understands the need for flexible & ergonomically designed workspaces which are economical and provides a comfortable space.

    YesssWorks- Logo and Tagline

    YesssWorks Space Private Limited provides modern and beautiful office workspaces for creators and inspiring community. With an elegant logo, YesssWorks gives a tagline to the company: “Luxuriously handcrafted spaces re-engineered for your needs. Upgrade your office space and move into YesssWorks coworking!”

    YesssWorks- Name, Logo & Tagline
    YesssWorks Logo 

    YesssWorks- Vision and Mission

    YesssWorks keeps up with a vision to enhance today’s rapidly evolving work by connecting people in thoughtfully designed easily accessible spaces. Due to it’s cost-effectiveness, it is not only budget-friendly but the workspace covers all the major commercial hubs in Mumbai and Pune. The shared workspace aims to provide targeted technology and business solutions for entrepreneurs, SMEs and enterprises for ease of business.

    YesssWorks- Target Market Size

    Coworking in India will be growing to $3.5 billion by 2022 from $350 million in 2018, and YesssWorks targets working on this. Their sector is an agnostic coworking space that caters to all types of business from freelancers, startups to established corporates. It’s not possible to point out at just some sectors to specify the size of the target market but their focus is Mumbai and Pune, which are among the top 5 cities in India for commercial space and coworking space given the high concentration.

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    They not only focus on the established corporates but also bootstrapped companies & startups for providing flexible workspaces & other business solutions. The company’s different product offerings and budget friendly ergonomically designed workspaces are something that differentiates us from their competitors. Also, they work more on providing the best possible experience & comfort to each one of our members by understanding their individual needs. The team of like-minded professionals ensures nothing but the best services provided to everyone working out of their hubs in both the cities, Mumbai and Pune.

    YesssWorks- Products/Service

    YesssWorks is providing workspace as a service. They keep their focus more on providing the best possible experience and comfort to each one of our members by understanding their individual needs. The custom office has built its infrastructure in a way which provides all the amenities of contemporary office in beautiful and ergonomically designed workspaces with full services which has resonated strongly with our customers.

    YesssWorks is known for its services and products offered to the market. They focus on ensuring the warm & friendly community culture for people who visits the workspace.

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    YesssWorks- Startup Launch

    They started with one location in Andheri East (Mumbai). However, based on demand from their customers, they started evaluating other “hot” commercial sectors in need of office space and infrastructure solutions. They studied the need & demand of the emerging startups and key geographical markets narrowing down to Mumbai and Pune as key focus markets. The focus was to give ease of access and ability to work anywhere in these two cities which helped them to come up with different segments of spaces in regards of customization and flexibility for almost every demand group in the industry.

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    The evolution has mostly been organic as they were able to capitalize on customer service and ease of operations from their coworking hubs. They also host events, celebrations, talk shows, mentor access, partnerships for our coworkers. They are a coworking with minimum frills allowing their customers to work whenever they want and be the part of the coworking community.

    HappleyFit Fitness Party at YesssWorks Space in Pune

    YesssWorks- Business and Revenue Model

    Their primary product is office space sold by seats. Clients avail to Flexi seats, Fixed seats, Cabin seats, or customized area. Pricing ranges from 4,999 per seat to 15,000 per seat depending on the type of seat. The contracts range from daily pass to monthly to annual contracts.

    YesssWorks coworking space
    YesssWorks coworking space

    They also provide ancillary services for the comfort and convenience of the coworkers such as courier, stationery, concierge, pantry, bandwidth on demand, 24 hours operations and many more

    YesssWorks- Challenges

    Every startup faces challenges once when they begin to grow. Since, YesssWorks is a coworking community where people gather up to meet with their remote teams. More recently, the COVID-19 pandemic situation has hit the coworking industry brutally. Not only the offices have had to remain shut for extended times, a lot of the customers are seed funded & bootstrapped businesses which are struggling to survive as the economy continues to remain closed due to the sudden financial hit in their respective businesses. So, many co-workers chose to downsize within the current contract while some chose to opt for account suspension for at least upcoming 3-4 months.

    The challenge for coworking space companies is that the major burden of loss of business is being borne by them as coworkers have demanded discounts and waivers while the landlords (which is typically 50% of expenses) have not provided any corresponding relief.

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    They’ve continued to work with our coworkers to find a mutually acceptable solution. To make it work, they have offered deep discounts, accounts suspension without penalties and even free usage to support our clients. The key has been transparent discussions about the situation and costs. YesssWorks has also proactively passed any benefits in operational costs (lower electricity, housekeeping, etc.) back to the clients so that there is no undue benefit to us.

    They are trying to support all businesses working with them with their hardships to make sure they can manage without undue burden theirs during these difficult times of global pandemic.

    YesssWorks- Customers/Clients

    They have been very active in their sales channels while building personal relationships and offering incentives to foster a long-term partnership. They have 4 key channels:

    • Brokers – They’ve cultivated relationships with IPCs and local brokers for large and corporate clients looking for office space.
    • Online – They target freelancers, individuals, small businesses through Google and social media ads.
    • Aggregators – They are registered with all prominent online aggregators of offices space
    • Office Mapping – Their sales team runs outreach programs to all commercial buildings near their hubs to target companies that have outgrown their offices and in need of few additional seats.

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    StartupTalkyShubham Kumar

    YesssWorks has partnered with various service providers to provide discounted value-added services to our coworkers

    • Business Services: Logistics, Outsourced HR, Outsourced accounting, legal services
    • Personal Services: Salons and restaurants in the vicinity of the hub, subsidized doctor visit for routine checkups, etc.

    Their most popular and successful marketing campaign is a 3-Day Free Trial. This works especially well for 1 to 10-seater clients. We have a conversion rate of 96%for the clients who have tried the space and signed a contract for a service plan.

    YesssWorks- Advisors/Mentors

    They have on their board industry experts and businessmen who themselves made it to the top on their own.

    • Bhavin Parikh, GlobeTextiles limited
    • Dhiren Shah, Moneybee Advisors

    YesssWorks- Funding and Investors

    They’ve raised friends and family round to seed money, initially. Being in the market and handling over 1000+ seats they have understood the business and are now ready for expansion and partnership opportunities. They believe that a bigger footprint in these two cities will be the way forward for the coworking community.

    YesssWorks- Price

    Universal Day Pass — Rs 999/- for 5 days at any of our hubs

    YesssWorks- Future Plans

    They have 4 locations, while 2 in Mumbai (Andheri MIDC, BKC Annexe) and 2 in Pune (Baner, Bavdhan) with expansion plans in both the cities. Their team members have grown from 100 to almost 1000. The company has served more than 200 different companies of all sizes – individuals / sole proprietors to large conglomerates.

    We believe, coworking as a sector will continue to grow as more and more companies have become more comfortable with shared office space, and they are quite liking the idea of not having to spend on capital expenses or getting stuck to long term commitments for rentals and fixed expenses.

    Their main focus is in Mumbai and Pune, two of the largest coworking markets in India. They believe, rather than one or two large spaces (>50,000 sq ft), they would like to build mid-size spaces (15,000 to 20,000 sq ft) all over Mumbai and Pune targeting every commercial area. The idea is to blanket the cities so companies don’t need to concentrate their teams in one area but can have their teams split across different hubs with seamless interchangeability and also intercity functionality from YesssWorks being the common office space providers.

    They strongly acknowledge that this will help reduce inefficiencies like commute time, setup costs, and improve work productivity and improve work-life balance. By providing familiar and similar business environments across all Hubs, a co-worker can sit out of any convenient hub and feel comfortable and have access to all amenities anywhere.

    YesssWorks- FAQs

    What is YesssWorks?

    YesssWorks Space is a coworking space designed and operated in a way that not only provides the workforce with a conducive environment to increase their productivity but also inspires them to grow professionally.

    Who founded YesssWorks?

    YesssWorks Space is founded by Nainesh Kapadia and Mihir Shah in 2019, which is based in Mumbai and Pune.

    What will be the growth of Coworking sector in India?

    Coworking in India will be growing to $3.5 billion by 2022 from $350 million in 2018.

  • How Covid-19 can Affect the CoWorking Industry in India

    This is a guest article by Ms. Anita Sharma who used to dabble with acids and alkali, Yes a a chemistry grad! Now, she help companies market themselves on the internet with her marketing skills. She runs an digital marketing agency, Searchmetry in Kolkata.

    Covid-19, which has shaken the whole world has brought all countries at halt. This highly contagious disease is spreading so fast that Indian Government has ordered 1.3 billion residents to stay home. Initially government declared lockdown of 21 days on 24th March,2020 and then extended lockdown more for two times. In this lockdown period, all malls, theaters, companies, shops, restaurants, manufacturing units are shut. This will affect businesses and economy badly.

    Covid-19 has proved to be the black swan event of black swan events. With entire countries under complete lockdown, healthcare systems on the brink of collapse, and a cure and/or a vaccine nowhere in sight, the engines of industry have ground to a complete halt in every country, India included. Every person has questions regarding after lockdown effects on industry, people, lifestyle.

    Many questions are there for coworking industry too like

    • Will covid-19 be a nail in the coffin of the coworking industry in India?
    • Or will it actually push more people towards coworking?
    • Will the sector be permanently affected? For better or for worse?
    • How will this affect the coworking industry in India?
    • Will there be a permanent effect on the industry?
    • Or will things return to pre-covid conditions once the pandemic is brought under control?
    • If there is a permanent effect, will it be positive, or negative?

    Let’s take a look.

    The idea behind a coworking space

    Every company is different. Their requirements, and their way of working is different.

    However, most workspaces share infrastructural requirements, like:

    • A good internet connection.
    • Phone lines.
    • A stable electric supply.
    • A conference room.
    • Amenities like washroom, basic snacks and beverages, and so on.

    There are two issues with an individual company arranging these for itself:

    • It’s not the core function of the company; the time invested in arranging them could have been used more productively.
    • Some of the facilities, like the conference room, will not be constantly used by the company, leading to excess capacity.

    Enter the co-working concept

    Enter a company whose core function is to acquire spaces, convert them into workspaces (by appropriate interior design, arranging for the infrastructure, etc), and offer other companies access to this working space.

    The issue of spare capacity is addressed by devising a shared access mechanism; in other words, companies A and B both use the same conference room, at different times.

    Remember this ‘shared access’ concept – we will return to it in a while.

    Also read: All You Need to Know about CoWorking Spaces in India

    The Financial Model

    • Typically, the space acquisition will have to be done long term; in other words, to build a viable coworking business, lease/rent agreements have to be long term.
    • Some staffing – especially in the fields of maintenance, logistics, and so on – would also have to be hired on a salaried basis.
    • On the other hand, companies who want to rent desks or rooms will look for flexible arrangements, to fit their financial situation.

    This means that there will almost inevitably be a mismatch between the spending and revenue of a coworking company – long term, fixed costs will have to be funded with volatile short term cash inflow.

    How does covid-19 affect this, in general?

    Covid-19 can have a number of effects on this business model:

    The lockdown

    Typically, coworking spaces would be found in financial districts, within metropolitan areas. Typically, these also have been found to be ‘hotspots’ where the virus has been spreading more, which means they would be the last to emerge from lockdowns.

    Availability of staff

    With different places having different levels of lockdowns, maintenance and other staff may not be able to turn up for work at full strength for some time.

    Work from home

    A lot of people are adjusting to working from home. It could become a new normal.

    Since neither a drug nor a vaccine for the virus seem to be within reach right now, even after lockdowns are eased, people might prefer to work from home, and business would largely agree, since that minimizes the risk of workers infecting each other in the workplace.

    That would have a material impact on the coworking business model.

    ‘Hot’ would become cold

    Remember one of the features of coworking is shared access.

    • In many coworking spaces, this not only extends to larger facilities such as conference rooms, but also to basic facilities such as desks.
    • In other words, one business may hire a desk from 9am to 1pm; then another company can hire that same desk from 1:15pm to 4pm.
    • Such assets are called ‘hot’ assets. Typically, they yield a higher return for the coworking company. ‘Hot assets’ enable a coworking company to scale up in the sense that a single asset can bring in multiple payments from multiple users within 1 day.

    However, with the social distancing norms in effect, business and people would be averse to using such facilities.

    The pre-covid19 outlook of the coworking sector in India

    Till early 2020, the coworking industry in India was booming.

    Both foreign companies (like WeWork and Regus) and domestic ones (like Awfis and Cowrks) were setting up shop, and competing with each other to snap up work spaces and acquire clients.

    There was some churning in the industry, leading to a number of mergers and acquisitions but that was attributable to some purse-tightening by investors in light of the WeWork debacle, and did not pose any material risk to the viability of the coworking sector in India.

    Negative effects of covid-19 on the coworking sector in India

    As you might expect at this point, covid-19 will land quite a few blows on the coworking sector in India.

    A permanent decline in office space requirement?

    Covid-19 has spurred a disruption in attitudes towards work, and remote working is catching on.

    Also read: Companies are Asking their Employees to Work from Home due to CoronaVirus

    Firms are innovating to offer remote and work from home solutions like virtual conferencing applications (Google’s Meet, Facebook’s Messenger Rooms, etc) and planning and productivity tools (like Asana).

    If this trend sustains, it might lead to a permanent decline in the demand for office space.

    Clients are themselves affected

    The shutdown has led to fears of an imminent recession, which has spurred people to eschew spending as much as possible, and conserve cash. This has led to a general fall in demand.

    Also read: 14 Founders Shared Opinions on how Industry and Customer Behavior will Change after Coronavirus Fight

    Consequently, even as workers work from home, businesses have been affected due the general lack of demand in the economy.

    So, they are choosing to cut costs as well, which means they won’t be in a hurry to rent work spaces, and even existing contracts may not get renewed.

    As Ankit Sachdeva, chief growth officer of Co-Offiz, put it, “People are not coming to our space due to the lockdown and we see no new business conversions any time soon”.

    Bills still need to be paid

    • Coworking companies will still need to pay rent for the spaces they’ve hired; utility bills will still need to be paid.
    • Safety and hygiene will need to be maintained for the spaces to remain suitable to work in, which entails costs.
    • Payroll cuts may clash with government directives.

    Social distancing and hygiene norms will increase costs

    Even when the economy does revive, and businesses start returning to coworking spaces, social distancing norms will reduce scalability.

    For example, teams may not want to go for ‘hot assets’ (from before), and renting entire desks and rooms may price a section of firms out of the market, shrinking the client base.

    Apart from that, hygiene norms like making sanitizers available throughout the facility will increase costs.

    Some positive developments for the coworking sector in India, post-covid19

    However, it is not all doom and gloom.

    At least one major investment has come in

    On April 23rd, Investors Clinic and Kocreate announced their intention to invest Rs 10 crore in a coworking joint venture.

    They expect demand for coworking spaces to pick up once lockdowns are eased, and especially after the pandemic is resolved.

    Their intention is to partner with a few builders who have been struggling with funding over previous quarters.

    These spaces are expected to be state of the art, AI-enabled and covid-19 compliant

    India’s startup ecosystem will endure

    • Before the covid-19 disruption, India’s startup ecosystem was estimated to generate up to 12.5 lakh direct jobs by 2025.
    • While covid-19 has definitely ravaged businesses in the short term, this too shall pass.
    • In fact, many experts believe the recovery will be quite quick.

    This means that the medium to long term growth projection of India’s startup ecosystem remains more or less on track. And that will obviously be a big boost to the coworking sector in India.

    Larger firms may want access to coworking spaces

    Larger firms may want to have access to multiple work sites, so that if one location is compromised due to an infection, other locations can carry on.

    Coworking companies can try to tap this demand.

    In fact, this is not a wild assumption.

    Neetish Sarda, founder, Smartworks, said “Corporates have informed us that they do not want to spend a significant amount of capital to open new offices, they want more flexibility” in an interview.

    Some steps coworking companies in India can take

    Coworking companies can take some steps to stave off the damage from covid-19:

    Form and widen an industry association

    A number of coworking companies have indeed decided to form an industry association.

    Known as the Indian Workspace Association (IWA), it includes more than forty coworking companies across India.

    More coworking companies should join the industry association, to make it as broad-based as possible.

    Such an association can:

    • Formulate industry-wide policies.
    • Help smaller players plan their operations and growth.
    • Take up industry causes with the government and other relevant players.

    Seek help from the government

    In a free market economy, intervention from the government is generally best avoided.

    However, this is an unprecedented situation; one that calls for unprecedented actions, including asking for governmental intervention in the form of

    • Expediting tax refunds.
    • Necessary relief on rent, utility, and payroll obligations.
    • A dedicated credit guarantee scheme.

    Use market research and analytics to offer more facilities

    Coworking companies will need to invest in market research and analytics to understand the demand for facilities, and offer those.

    Also read: Coworking Space – Facilities and Benefits

    Local trends will have to be understood and steps taken to redesign available spaces accordingly.

    Partnering with other service providers

    Coworking companies can partner with business incubators, accelerators, and other relevant business service providers to provide more rounded solutions to work requirements.

    To sum up, amid all the doom and gloom, it is important to remember one thing. Remote working is not a new thing; and coworking has coexisted with remote working for years and years.

    The same will happen for working from home.

    After all, the community of people from diverse businesses that a coworking space provides cannot be replicated in a work from home scenario. And such a community is necessary to keep spurring innovation and disruption.

    Finally, coworking spaces can try to transition from providing only work space to providing complete growth solutions to businesses, in partnership with related services.