What is it about coworking spaces that make them so effective?
We’ll go into the basics of a coworking space, its advantages, and who might benefit from this type of environment later in this blog. Also, this blog will help determine whether coworking is a good fit for you.
The millennial era is all about working together and coexisting peacefully. People decide to share working environments when physical space shrinks. This results in rent reduction and palpable electric energy in the atmosphere emitted by the energized and thrilled co-working.
What are co-working spaces?
When you enter a coworking space, you will see that it is not similar to a traditional workplace. The aroma of freshly ground coffee can only come close to that of a room full of people who are equally energized and thrilled when it comes to creating an exciting vibe. A significant benefit of coworking spaces is that you will witness a mix of people working diligently at private workstations and others engaged in spirited talks over a large standard table.
These co-working spaces are communal workstations in a coworking environment. They provide affordable office space for anyone who wants to escape the seclusion of a home office or a coffee shop. These shared offices provide desks, private conference rooms, restaurants, coffee, and other office-like amenities. They offer a sense of community as well.
Its occupants are mostly freelancers, entrepreneurs, startups, and small teams seeking a flexible work environment. Coworking spaces’ multiple advantages make them an excellent alternative for many young workers.
Aside from culture, the cost is a major draw. One advantage of these places is the ability to rent only what you require rather than a fully private office space, which can be costly. With diverse membership-based models, costs vary and are adjustable.
There are options for daily or monthly pricing. Membership fees vary based on whether you require a dedicated or shared desk.
Who can use the co-working space?
Freelancers
Coworking spaces give freelancers the best of both worlds, the ability to work their own hours and schedule without feeling isolated. As a result, these coworking spaces are great for independent contractors. People who would otherwise be forced to work alone at home or in a coffee shop develop a sense of companionship.
Startups
Startups like the flexibility of coworking spaces. Coworking spaces do not have the high fees and commitments of traditional office leases. They also enable small groups to interact with others in the vicinity. These locations may also help entrepreneurs discover a co-founder for their firm by bringing together the right people at the right time.
Changing corporate landscape
Pune has many coworking spaces for entrepreneurs, small businesses, and freelancers. With the rise of startups and the decline of traditional working environments, the demand for coworking spaces has skyrocketed, and Pune, Maharashtra, is no exception.
Pune-based shared office spaces help entrepreneurs grow by surrounding them with like-minded people. Pune has produced many well-known startups, most of which grew in coworking spaces.
Coworking spaces Pune provides everything a growing team needs: mentorship or business ideas, free high-speed internet, or unlimited beverages.
Co-working spaces were not immune to the disruptions caused by lockdowns and experienced a brief slowdown, but industry estimates show that as markets opened up, demand for co-working spaces increased. According to the data, demand has already reached 80-90 percent of pre-COVID-19 levels and is only expected to grow exponentially from here.
According to a recent JLL report, the current market share of flexible workspaces in total office space is 3%, which is expected to rise to 4.2% by 2023.
According to the report, the flexible space segment will grow by 15-20% yearly.
In companies in Pune, emphasis has shifted from required physical office attendance to employee performance, productivity, and time-bound results.
Major organizations are interested in co-working spaces
Coworking facilities are so effective for the common groupings that larger organizations have recently adopted them. Furthermore, forward-thinking organizations are already utilizing coworking spaces wherever possible.
WeWork (which was just valued at $16 billion) is attempting to attract larger firms to its coworking spaces. According to Bloomberg, the region is used by General Electric, KPMG, and Merck. Some businesses, such as KPMG, consider the 75 workstations they hire as strategic assets. KPMG at WeWork is involved in startup business consulting and digital innovation research.
According to a recent CBRE survey, 73% of office occupiers in India are considering hybrid working arrangements, compared to 52% across Asia-Pacific.
Others perceive the space’s flexibility as a positive for managing real estate and its costs. For example, Longer leases which require predicting real estate and company demands, are not needed.
Advantages of co-working spaces
Coworking spaces are a common place for people with diverse company ideas to get together and learn from one another, from meeting other business gurus to cooperating on separate ventures. This is also valid for coworking in Pune. Entering a coworking space entails looking for new opportunities and being a part of a professional business community.
While there are other benefits, the following five are essential for any small or large business owner considering a transfer.
More Networking Opportunities
Meeting new people is one of the major benefits of a coworking space. If you work from home or in a remote office, you may lose out on important relationships that might help your business thrive. Sometimes all a tiny business needs are the spark that other successful business owners can supply.
Increased Productivity
This is especially true for small business owners who work from home. We face so many distractions while working from home. Children want our attention, the house needs to be cleaned or maintained, and specific duties may come at any time. By relocating, you can establish a ‘work mode’ that will increase productivity. Many coworking spaces are available 24 hours a day, seven days a week, so you don’t have to worry about getting things done when needed.
Increased Creativity
Coworking spaces can provide bursts of inspiration by allowing you to engage with others and expose yourself to new perspectives. Furthermore, moving locations and traveling to a new office may help you rejuvenate your thinking and find alternative answers to business problems.
Collaboration Possibilities
This benefit is associated with networking. Working in a coworking space exposes you to both risk and opportunity. Working near people allows for quick collaboration. You can be on the lookout for a new employee before you realize it.
Cost-Efficiency
If you rent an office, you may have to deal with various unexpected expenditures, especially if your employees desire perks like free coffee, snacks, and (sometimes) drinks. For a set monthly price, coworking spaces offer amenities like these. They also have several built-in business services, such as business mail, which might save you money in the long run. Consider what traits you desire before deciding on the optimal location for your firm. Small businesses trapped in expensive leases may find the cost-efficiency of co-working space to be a critical benefit.
Top locations for co-working in Pune
- Baner
- Kharadi
- Koregaon park
Baner
Baner, located in North-West Pune, is a popular area for coworking office spaces in Pune. Balewadi, Pashan, Aundh, Sus, and Mahalunge surround it. Working professionals in software businesses in Baner and nearby employment parks such as Rajiv Gandhi Infotech Park in Hinjewadi drive residential demand making it a preferred location for office spaces.
Kharadi
Kharadi is located on the east side of Pune on the banks of the Mula-Mutha river. The area is well-known for its several IT and business parks.
Koregaon park
Koregaon Park is located in central Pune, Maharashtra, India. The neighborhood is upscale, with a perfect mix of luxury amenities. It has been transforming into an ideal commercial complex in recent years.
Koregaon Park’s shared office spaces are a few kilometers from the Pune Railway Station. You can easily access nearby neighborhoods such as Kalyani Nagar, Viman Nagar, Yerwada, Ghorpadi, Bund Garden, and others. The nearest airport to this township is Pune International Airport.
Future of coworking
According to data, coworking spaces have grown significantly in the last 4-5 years.
Currently, nearly 35 million square feet of shared space are available across India, with the big players holding a 71 percent share. More than half of the shared spaces are located in Delhi-NCR and Bengaluru.
At the moment, big markets include Hyderabad, Mumbai, and Pune. Shared office spaces are expected to gain a foothold in tier II and tier III cities in the coming decades, as many corporations opt for employees working in the hub-and-spoke model or remotely.
Concluding thoughts
Coworking spaces in Baner are a unique option instead of a traditional workplace for businesses. Furthermore, they accommodate the office space needs of businesses of various sizes, ranging from sole proprietorships to multinational corporations.
Coworking spaces in Baner provide natural and professional exposure to their coworkers for an optimal working environment. Pick the best coworking space that is suitable for all work-related needs to begin your coworking journey.
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