Are coworking spaces worth it?
The future of coworking space in India is an increasing trend. Each year, more and more freelancers and entrepreneurs choose to share a space with like-minded professionals as a way to avoid work-from-home distractions.
Renting a desk at a coworking space could mean losing your freedom to work at home and could add an extra cost to your budgets.
While these concerns are valid, some key factors are considered when choosing a coworking space over the traditional home office.
Here are some reasons why it’s worth it to join a coworking space.
Coworking facilitates a different kind of communication, opening up networking, collaboration, and idea exchange opportunities in a way that can’t necessarily be replicated in a traditional office environment.
Running a small enterprise or freelancing can have overhead costs. Becoming a member of a coworking area is a convenient way to get rid of extra billings.
Eliminate the hidden costs and risks of owning your own office and simply pay for the space you need. With a coworking office, there is no traditional lease or any of the hidden costs that go with it.
Working in a coworking space will definitely safe you from distractions and loud noises than can harm your work badly and it is true that you will be dealing with a lot more noise and chatter than in a home office. In a coworking space, you have people working hardworking all around you.
What drives the growth of coworking space?
Coworking places have been set up in metropolitan cities such as Mumbai, Delhi, Chennai, Bangalore, and people have successfully adopted the concept of coworking.
Large corporate offices are moving out from traditional office spaces and are choosing coworking offices to set up their teams.
According to Forbes, millennials are especially fond of coworking spaces for a few reasons: affordability and not worry about the overheads.
However, as the workforce changes, coworking space also needs to evolve to remain relevant to the dynamic, new working-age population.
Here are some ways the future of coworking spaces can shape you work
- Collaborative Working Environment
These days, every professional try to work in a valuable work environment with enhanced collaboration and accessibility. As the way work changes, coworking space should be able to change as well as physically.
Most coworking space providers offer many services to their partner companies like printing, Flexible Workspaces, courier services, cafeteria, Well-Equipped Meeting Rooms, and some other. These amenities will help the employees to add up and take your business to the next level.
- Workspace design and setup
Choosing the most usable arrangements comes from looking at available square footage, floor plan layout, and space occupancy limits. Demand may change over time, too.
Coworking operators need to track space utilization trends and adapt workspaces to the demands of frequent, recurring occupants.
The modern working employee need a more exciting and fun experience to be more creative. Innovation and productivity are the products of the right work environment and work culture.
Modern shared office helps employees develop and holds them in companies. Shared office spaces have customized the work ambience into something that employees can be proud of.
Shared office spaces provide several amenities to new businesses and freelancers. Saving money on infrastructure is just one element that makes them better than a traditional office space.
Future of Coworking in India
Coworking space as a concept is very different from the general masses. It is due to the rise of millennials and startups culture in the country. Coworking is another western concept that is rapidly growing its wings in India.
The industry of coworking space is continually being developed and expanding. It is estimated to reach a market valuation of $2.2 billion by 2022 with a market perception of 5.7 per cent.
With such promising numbers and the constant growth scalability of coworking hubs, we can say that the future of coworking spaces in India is very bright and evolving.
There are several reasons why coworking spaces are thriving in India. The fact remains that every company would choose a coworking space clearly because they have all their requirements met with half the investment, or maybe less.