How freelancers, corporates, startups can benefit from shared workspaces

22 May 2017

How freelancers, corporates, startups can benefit from shared workspaces

  • Economic Times

The silent aisles of a conventional office have given way to a stirring revolution. Shared workspaces or co-working spaces, a concept popular in the West, has taken root in India in sync with the rapid growth of startups and alternative work modes in the past 3-4 years.

What’s a co-working space?
A shared workplace is a fully equipped office in a relaxed setting, as opposed to a structured, traditional workspace. The place can be hired by multiple entities—individuals, small teams or a large company— for a flexible period. One can hire a single seat for an hour or take up fixed number of seats for 2-3 years, while sharing the place with other companies or individuals in an open floor plan.

What began as an option for startups now encompasses entrepreneurs, freelancers, frequent travellers, work-from-home professionals, SMEs and corporates. “While 60% of our customers are SMEs, about 20% are startups and freelancers, and the rest are corporates,” says Amit Ramani, CEO, Awfis Space Solution, which has 21 centres and 7,500 seats across seven metros, and plans to expand to 28 centres and 10,000 seats in nine cities soon.

Co-working offices are being set up by small, local players and bigger companies with pan-India network, besides global players like WeWork and Spaces, who have recently set foot in India. Some of the more popular players in major metros include Awfis, Innov8, Regus, BHive Workspace, 91 Springboard, Bombay Connect, among others. Does such an office offer cost benefit and significant advantages for you to take it up or should you set up an exclusive office or continue with the existing lease?

Cost & services
A basic shared workspace provides infrastructure (flexible and fixed seats), tech facilities (Internet, Wi-Fi, phone, printer, copier, scanner, fax machine), housekeeping staff, eating area and common front desk or reception area. The fee for smaller set-ups ranges from Rs 4,000-6,000 per seat per month, while the medium-level players charge Rs 6,500-9,000, and premium spaces can cost Rs 9,500-15,000 per seat for a month.

The charges differ for flexi and fixed seats, and you can get more facilities for an additional fee. These add-on, paid services can include lockers, meeting rooms, 3-4 seater cabins, video conferencing, meetings in third-party locations, access to mentors and capital, as well as legal, accounting and HR firms, organising events, promotions and conferences, discounted parking spaces, gaming zones, and partnership discounts, among others.

“Shared workspace helps focus on revenue building without bothering about https://www.https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg.com/inspiration/wp-content/uploads/2016/03/Awfis-is-your-new-Office1.jpgistrative work.”

Facilities : 7 seats, business address, Wi-Fi, front desk, meeting room, cafeteria, discounts on Awfis tie-ups
Charges : Rs 70,000-80,000 per month

Convenience
The shared office allows one to focus on the business without worrying about securing funds for setting up an office or the nittygritty of managing it. “It offers a high degree of convenience because we can focus on building revenue without bothering about the https://www.https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg.com/inspiration/wp-content/uploads/2016/03/Awfis-is-your-new-Office1.jpgistrative work of running an office,” says Rajas Kelkar, 43, who has a ninemember startup and has hired seven seats at Awfis in Mumbai.

“More than the cost, it’s the convenience that is the pull factor,” says Gurgaon-based Samir Mathai, who has recently launched a startup. “You can impress the clients with a good business address, don’t have to focus on office peripherals, and if you are with a bigger player and need to travel across the country, you can have an office in every metro,” he adds.

Agrees Prasad Walawalkar, Senior V-P, HR & Legal, in a research organisation, and part of the 65-member team at a workspace in Mumbai. “We can have client meetings in different cities like Delhi or Bengaluru because of the offices there,” he says. However, this option may be provided only by some players who have a countrywide network and offices in metros or tier 2 cities. A big benefit is the opportunity to interact with like-minded people from different organisations in the same workspace ..

Do you save money?
A more critical factor for startups is whether these workspaces translate to monetary gains. You can save 25-30% if you choose a small- or mid-level space provider and don’t avail of too many extra services. “Compared with a conventional lease option, we offer cost-effective solutions.Since the costs linked to a workspace are 5-10% of a company’s turnover, corporations of all sizes are looking at it as a strategic component of their business plans,” says Harsh Lambah, Country Head, Regus India, one of the oldest players in the market. “Besides, if you are a company of four and plan to grow to 10, in a conventional office, you have to tie in for 10 people from the start and are wasting space. We help these companies grow at their speed,” he adds.

However, this may not always be true as all workspace providers cannot provide additional seats as and when these are required. Moreover, the savings may not be substantial if you pick a premium office provider at a prime location. “By shifting from a premium workspace to a mid-segment one, I have cut down my costs by 30-40%,” says Kelkar.

Adds Mathai, who gave up a premium workspace at a good location in Gurgaon and opted for a commercial lease in a residential area: “We used to pay Rs 2.5 lakh a month for a five seater. Now with 30 seats, we are shelling out much lesser. The savings are typically higher in the long term.” Remember, the savings will be a function of the space provider, location as well as the services availed of. But if it’s convenience you want, opt for a shared workspace now.

(This Awfis coverage appeared in ET Wealth on May 22, 2017. The full story can be read here: 
http://economictimes.indiatimes.com/articleshow/58762652.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst )
Awfis leases 85,000 sq ft space in Noida, Real Estate News, ET RealEstate

10 May 2022

Awfis leases 85,000 sq ft space in Noida, Real Estate News, ET RealEstate

  • Posted by Awfis Editorial

Currently Awfis has 11 co-working centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market by the end of 2022.

Awfis, a flexible workspace provider, has leades 85,000 sq ft space in River Side Tower, sector- 125, Noida. The centre will have over 1500 seats and is expected to go live by end of March 2022, the company said in a media release.

Currently Awfis has 11 co-working centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market by the end of 2022.

Amit Ramani, CEO & Co-Founder of the company said, “We are delighted to partner with River Side Tower to open this new ’workspace in Noida.The sharp recovery and the growing demand for flex workspaces from this region inspired us to continue to create garde-A flex workspaces, so as to facilitate businesses of all size in the market. We are confident that this trend will continue to grow and even the most traditional companies will see merit in setting up hub and spoke offices to help people work in close proximity to their homes allowing them to spend lesser time in commuting.”

The company claims to have launched over 50 centres with 30,000 seats and entered three new markets in the past 15 months.

Awfis plans to open 200 centres across the country by the end of 2022. It currently has 121 centres with 70,000 seats across 14 cities.

This story appeared in the 9 February, 2022 issue of MSRealty and was originally published  at: Awfis leases 85,000 sq ft space in Noida – ET Realty

 

Awfis added 1,500 seats in Noida, leases 85,000 sq ft.

10 May 2022

Awfis added 1,500 seats in Noida, leases 85,000 sq ft.

  • Posted by Rashika Chandorkar

Home-grown flex workspace provider has added over 1,500 seats at a coworking centre in River Side Tower, sector 125, Noida. The new centre, which will go live by end of March 2022, is part of Awfis’ vision of opening 200 centres across the country by the end of 2022.

The centre is spread in 85,000 sq ft area. The flex space adopts a digital-first approach and is equipped with plush and modern amenities whilst maintaining social distancing norms, as mandated.

“We are delighted to partner with River Side Tower to open this new workspace in Noida, which is rapidly emerging as one of India’s leading business hubs for large-scale companies and startups alike,” said Amit Ramani, CEO & Founder.

“In fact, the sharp recovery and the growing demand for flex workspaces from this region inspired us to continue to create grade-A flex workspaces, so as to facilitate businesses of all sizes in the market. We are confident that this trend will continue to grow and even the most traditional companies will see merit in setting up hub & spoke offices to help people work in close proximity to their homes allowing them to spend lesser time in commuting,” he added.

Currently, Awfis has 11 coworking centres in the Delhi-NCR region and the company plans to open 10-15 more centres in the market the by end of 2022.

At the back of strong demand for flex workspaces, Awfis launched 50+ centres with 30,000 seats and entered 3 new markets in the past 15 months. The company currently has 121 centres with 70,000 seats across 14 cities and will continue to strengthen its foothold across India to establish a network of 200 centres in 2022.

Firms in co-working space expanding to tier 1 & 2 cities

10 May 2022

Firms in co-working space expanding to tier 1 & 2 cities

  • Posted by Awfis Editorial

Co-working operators are expandinginto tier-1 and tier-2 cities, driven by the adoption of the hub-and-spoke model by organisations, reverse migration of employees to their hometowns, affordable office rental costs, a growing startup ecosystem and the availability of talent, said industry executives. Large companies are now asking for multi-city space from co-working companies. “We have closed multi-city deals with our existing large enterprise clients in IT/ITeS, BFSI (banking, financial services and insurance), especially in markets like Pune, Noida, Hyderabad, and Bengaluru,” said Harsh Binani, Co-Founder, Smartworks.

In the past six months, demand for tech-enabled managed workspaces has grown threefold, according to industry experts. “With Covid-19 subsiding, we have been observing a substantial increase in the number of queries for our office as an outsourced service. Corporates are determined to lease and divest their office spaces to avoid unwanted longterm commitments and capital expenditures, “said Ankit Jain, Director, Skootr. The company plans rapid expansion in Bengaluru, Mumbai, Pune and Noida in 2022 to cater to the growing demand for offices.

Corporate occupiers are looking for portfolio re-optimisation and focusing on the concept of managed office spaces. “We have sold 6x more seats in the last three months than what we used to sell pre-Covid, with a huge chunk under our demand-led supply model for mid-to-large-sized corporates across tier-1 and 2 cities. We are working towards further expanding our base pan-India with 200 centres by the end of 2022,” said Amit Ramani, Founder & CEO, Awfis.

Half of a large co-working operator’s demand now comes from large occupiers who want satellite offices under the hub-and-spoke model. “For all practical reasons, co-working spaces are the most preferred option for companies to satisfy this demand,” said Nikhil Madan, co-founder, The Office Pass.

According to international property consultant Savills India, about 23% of the leasing in the first two months was for flex and serviced offices. “The first two months of the year have been where we are seeing a shift toward flexible and serviced office solutions. Also, tech demand is likely to pick up with a very strong return to office sentiment,” said Shweta Sawhney, Managing Director, Delhi-NCR, Savills India.

This story appeared in the 23 March, 2022 issue of BrickAcres and was originally published  at : Firms in co-working space expanding to tier 1 & 2 cities- The Economic Times