Ever since the Make in India movement commenced, there has been a significant rise in the registration of companies. But more than Make in India, we would like to appreciate America and its work ethos that propelled our Indians to scratch their potential and try to look past the job.
Since the year 2014, the number of start-ups in India has only grown in figures, and all of them cater to diverse divisions. Cities like Hyderabad, Bangalore and Delhi have seen the maximum enrollments of businesses. But over the years start-ups have had to evolve themselves to meet the ever-evolving demands and sustain in the market.
But there is one division that has perpetually been coniferous but never encountered any progression until now, and that is the commercial real estate. Until now, business owners have been leasing commercial properties the conventional way, but with millennials penetrating the workforce, the geography of leasing office space has significantly changed. And due to this change, the landlords had to undergo progression. This progression is known as the co-working style office space leasing.
On this note, let’s traverse Hyderabad’s co-working office space industry to see what evolution it has experienced and what does the destiny holds for it.
Earlier when businesses use to lease office space, they were perpetually seeking a space that offered them seats to accommodate their employees, a few cabins, a meeting room, a pantry space and washrooms. You see how monotonous it was right? But now, the requirements have shifted towards a creative workspace. People now are looking for branding opportunity, a home-like vibe in the office, a community to collaborate, and space-as-a-service. Unlike the olden days, where every amenity was chargeable, and office space was only available on per square feet basis. Now the entrepreneurs want a space which has every amenity and is available at per head basis.
So, addressing the evolving requirements of the industry, the landlords have started to offer customizable office space. In Hyderabad, there are several co-working offices, and each one offers customizability. To attract clients, the customizability goes beyond layout and extends to the lease. Meaning you can lease the workspace for how much time you want. You don’t have to sign the mandatory lease of a certain period. Isn’t this great?
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Flexibility is another prime requirement for modern-day entrepreneurs. Some entrepreneurs who only have a small team and only require a workspace for several hours a day would opt for a hot desk. And when his business matures, he would fancy a co-working space. In Hyderabad, there are copious budding entrepreneurs, and they’re seeking for such flexible spaces.
The co-working office space assures that their clients get catered with what they’re seeking. Not only do these co-working spaces cater to entrepreneurs, but they also house MNCs.
From hot desks to co-working space to open floor layout, the co-working space caters to their clients with flexibility.
Creative Office Space
Most of the entrepreneurs have quit their jobs, and grown their side hustle into a business. Hence they understand the importance of offering a workspace that is creative and unique. Conventional office space is quite monotonous and hinders the creative and logical thinking process. So, a place that is adorned with creative quotes, wall arts, motivational posters and modern furniture, helps in boosting employee morale and keeps the creative juices streaming. This is another important reason why a co-working space offers creative office space to their clients.
Moreover, the co-working office space has office dogs and allow pets to enter the workspace. This not only makes the employee and their dogs feel great but also creates word-of-mouth marketing for themselves.
Allowing pets to an office has never been seen in a conventional office space, but co-working office spaces in Hyderabad are ready to break the society’s norms.
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Most co-working spaces offer a community to start-ups. It is not something that a co-working space specifically offers, but it is something that gradually builds due to the culture. When a lot of people work in a co-working space, the people operating there forms a community. This community is quite beneficial for entrepreneurs because they can use the in house human resource as and when they need some help. This way, the business gets to save huge money in hiring people, and the people in the house get to earn additional income.
Isn’t it a win-win situation for all? This is why entrepreneurs seek a community, and co-working space put this in their feature list.
After this escapade, we can conclude that co-working space in Hyderabad offers customizability, flexibility, a creative layout and a great community to their clients. Moreover, it feels like home in a co-working space. So, it would be fair to conclude that the future of co-working space is quite bright and entrepreneurs are going to take utmost advantage of it.