THE SHARED OFFICE SPACE ECOSYSTEM ON THE RISE

With the rising entrepreneurial spirit and spurt in the startup culture across the country, the co-working sector has been experiencing massive growth with demand for professional and affordable spaces. As existing and upcoming businesses drench in the digital transformation wave, the dynamics of the workspaces have changed leading to an emergence of a variety of new trends. 

Why are businesses opting for shared office space?

As large enterprises and budding businesses wish to reduce the operational costs and eradicate the capital expenditure as much possible, the concept of shared office space is a bliss for the entrepreneurs. These ready-to-move-in co-working spaces allow for an expansive geographical footprint, flexibility, affordability, nurturing tech-enabled environment, and collaborative workspaces while having the basic hygiene elements of an office space in place. The traditional outdated workspaces are on the decline due to the changed preferences of employers and employees alike.

Let your office space reflect your brand ethos.

Modern flexible workspaces offer build-to-suit options to the tenants which allows the companies to customize and configure their office spaces the way they want it. This allows for curated office spaces wherein your employees would have a greater sense of belongingness and comfort, therefore, contributing to the positive, collaborative work environment with high productivity. 

Factors that have fueled the growth of co-working spaces.

Work near home, Hybrid and Remote working models – As the concept of working has eventually evolved with remote working and hybrid working models gaining traction due to tech enabled solutions, the demand for shared workspaces is bound to rise. The ‘work near home’ phenomenon has compelled companies to explore the option of allowing employees to work out of their nearest coworking spaces as they offer a tech-enabled working environment as well as have the necessary office infrastructure for maximizing productivity.

Tech enabled spaces with shared amenities – Collaborative workspaces with ample amenities that offer a good work life balance. Modern co-working spaces are thoughtfully designed with a blend of form and function. Flexible floor plans, wi-fi enabled zones, collaboration rooms, break-out zones, common cafeteria, 24*7 security, ample parking facility and other common amenities are provided to ease the employees’ work life as much possible.

Millennials’ role – The demand for shared working spaces in India is fueled by a variety of causes, one of them being the startup led by millennials and even younger employees will likely continue to occupy shared workspaces in the country. Over 46 percent of India’s workforce is millennials so going forward their impact on society is going to be immaculate.

Businesses on the boom – Multiple mergers and acquisitions in the market, increasing number of operators on the lookout for purchasing small or city specific businesses for the purpose of expansion or reinforcement of their position in the market in the future and players with national presence attracting international operators due to ease of doing global business under government’s initiatives. Hence, the demand for office spaces to skyrocket in the upcoming scenario. 

Niche workspaces in demand – The target consumer for co-working spaces has evolved with women entrepreneurs, freelancers, remote workers, solopreneurs, event organizers, corporate clients and budding startups being at the forefront. 

Increased geographical spread – Tier 2 cities and towns such as Indore, Kochi, Ahmedabad, Lucknow, Chandigarh and Bhubaneshwar have witnessed a prolific increase in the demand for the shared workspaces that have bolstered the startup environment, with tier 3 cities catching up soon. Due to reduced operational and set up costs in tier 2 and 3 cities, MNCs and startups are strategically expanding their roots at such locations. 

In nutshell, the overall predications state that shared working spaces have a bright future in India. By 2025, it is expected that around 42% of the population in India will work in urban centers, and hence the demand for office space will increase manifold. With economics playing on the mind of many new businesses, the demand for shared office space will grow tremendously in the next decade. 

Advantages and Disadvantages of Choosing a Furnished Office Space for Rent

The demand for office space has surged in recent times, with a number of large companies choosing the physical presence of associates over purely work-from-home. The benefits of maintaining suitable and efficient office space for the growth of a company are palpable and apparent. However, new workplaces necessitate well-considered decisions. Let’s address the dilemma of how furnished and unfurnished business office spaces stack up against one another. Experts suggest that the size and scope of the organisation tend to be the crucial decision elements. 

Advantages of Having a Furnished Office for Rent:

  • Flexibility around Lease – Obtaining a lease includes little legal fees and, in most cases, zero referrals. This is why firms frequently select fully furnished facilities with short leases.
  • Saves on Time – When you don’t have the concerned departments worrying about minutiae such as which color furnishings to use in the workplace, it’s more effective as your employees can now focus on other areas of business – generating more tangible output. Estimating office supplies and requirements can take a long time, which is especially true for larger firms. So, if these logistical parts are outsourced to a third party, the firm can focus on its core competencies. We can see that furnished office space for rent in Bangalore is not only beneficial to start-ups but is also logically meaningful for large corporates.
  • Business Support – Furnished office spaces can be advantageous to the extent of a readymade, at times, customised, ecosystem. Since most business centers include a staffed reception and admin employees, as well as administrative support and worksite meetings and conferencing amenities, the granular minutiae of day-to-day operations is reduced. 
  • Easy Expansion – As a company’s needs vary, renting space may quickly enable the company to adjust the amount of space available. That ensures companies won’t need to spend on property/space they don’t need, and they’ll be able to grow swiftly without having to relocate the business.
  • Professional Appearance – You can also be certain that the commercial center’s exteriors and interiors are kept to a high standard, allowing your company to present a competent image to clients, business prospects and the ecosystem at large. Plus, our workstation pricing also includes the charges for cleaning the interiors.
  • Minimal Overheads – No fit-out fees, no dilapidation costs, and an all-inclusive monthly rent make budgeting a breeze (IT and telecom packages are usually the only additional extra).

Disadvantages of Having a Furnished Office for Rent:

While owning a furnished space in Bangalore can be an advantage, it also accompanies several disadvantages that one must be aware of.

  • Greater Leasing Price: The leasing value of such buildings is determined by the location of the office as well as the amount of furniture available. The level of customization required by the firm also affects the leasing price. If the rental service is negotiable based on the length of the lease, you could be able to get a good price for your company. 
  • Brand Marketing – Commercial centers often have fully branded workspaces. It indicates that businesses have their logo displayed on the entrance or in other places of the building. This clearly indicates that the office space is rented rather than owned by the company that occupies it. Some centers, on the other hand, rent out fully unbranded furnished office spaces so that enterprises can appear to have their own office.
  • Increased Responsibility: In the case of a furnished office for rent in Bangalore, the responsibility is much more because, apart from the space, you are also responsible for any possible breakage to the furnishings in the area. However, certain insurance arrangements can be made to reduce this risk.
  • Undifferentiated Offices – Commercial centers come in a variety of shapes and sizes; some are renovated structures, while others are new construction. Also, some centers may have traditional elements, while others may have quirky, one-of-a-kind environments. Built-for-purpose commercial centers can suffer from identical workspaces that all seem identical at times.

The current state of the business issue, as well as the long-term objective of the new office that will be established – should be assessed first. After thoroughly weighing the possibilities, a final decision must be made.

Conclusion:

In Bangalore, numerous services offer furnished office space for rent. Before deciding on a service for your company, look at the ratings and reviews. Once you’ve decided on a service provider, double-check that the agreement you’ve reached with them covers all of your furnishing requirements. When necessary, discuss the whole setup as well as the customer support process in detail. Renewal and rental terms should also be transparent, with no hidden costs.

Making a business decision with regard to expenditure is never easy. Moreover, you are not just looking at economical costs but also how you and your employees will adjust to a space. Additionally, there are experts/consultants to help you arrive at a judicious decision. Other establishments who have been in a similar situation too help guide towards an appropriate decision. Keep your own and your business’s goals in mind before coming to a decision. The results, when weighed out well, will always augur well for your business.

Why Select Furnished Office Spaces in Bangalore

When looking for office space, one of the first questions that comes to our mind is, “Should I opt for a completely furnished office space, or should I set it myself?”

In the backdrop of increasing competition, deciding whether to opt for an empty office space or to move ahead renting a fully equipped commercial space is very challenging. While leasing out office space, the company’s size tends to be a major deciding factor to be considered.

Though unfurnished spaces are comparatively less expensive, the expense of setting up the space may be financially draining. Similarly, furnished spaces are enticing and ready to be used right away. They don’t require any extra effort to be put in, but their usual rental prices are too high to just create a hole in your wallet. 

In the business world, everything finally boils down to the size of the enterprise and the capacity of entrepreneurs to invest. Since both empty and furnished spaces come with their own set of advantages and disadvantages, it is critical for the owner to actually analyze the cost and align them to the budget in order to come up with the most suitable option.

For example, the start-ups may save tons of money by leasing out a modest office with minimalist furniture or by simply opting for a co-working space. On the other hand, a more prominent firm from Bangalore may either go for a fully furnished office in Bangalore or lease an unfurnished space to get it customized according to the requirements and goals of their business. We further believe that going with the one that includes all the furniture and amenities might be the better option.

Listing below the advantages of furnished office for rent in order to demonstrate why furnished office spaces always outperform unfurnished in all aspects and are preferable for both start-ups and larger firms.

  • Minimizing the Expenditure: Though leasing or renting out an office space comes with several benefits, minimizing the total expenditure might be the first one. When you get furniture installed, the rent might be a bit on the upper side but negligible compared to the cost of buying all the modern furniture yourself.
  • Helps You Save Time: Another advantage that fully furnished office spaces bring along is that they will save you a lot of time that would have otherwise been spent setting up your entire office space and decorating the interiors. This time saved could now be devoted to other crucial tasks, such as employee management, running your business, etc.
  • Avoid Hassle: Opting for fully furnished office space will save you all the time otherwise spent on choosing the interiors, matching the decor to the building or your business. You might end up investing your time, money, and effort in procuring the appropriate components as well as arranging them. If you prepare ahead of time, none of these will come in your path and annoy you. Setting up an office is a massive challenge by itself. Purchasing and arranging furniture and other equipment can be very time-consuming, exhausting with eating up a significant portion of your budget.
  • Enable Expansion: With all furnishings and equipment, all you have to do is alter them to your needs. Further divide them into required cabins, eliminating all the extra items and creating room for new equipment. Now you won’t have to start from scratch; just add in a few of them as per your requirements, including coffee machines, printers, etc. This will enable you to concentrate your efforts on tasks that really matter for the success of your business. Hence it is always preferable to go for the one that has already been set up for you; just settle in and begin your work without any impending hassle.
  • Atmosphere That Is Both Professional and Relaxed: Furnished office spaces are generally set up to radiate professionalism. Irrespective of how open or informal the work structure is, every company aspires to be viewed as professional. Since it enables them to gain the trust of their clients. Opting for an office that’s already been set up allows you to give a professional appearance to your business without having to figure out which type of chair would look more professional.
  • Ready Setup: You will be availed with a professional workstation, equipped with appropriate furniture, interiors, and other amenities, all of which are included in the monthly lease for the office. With this ready-to-use setting, you can get to work immediately without wasting any time on decor. Also, these days most offices come with pre-installed Wi-Fi, network connections, and other amenities, so it will be highly convenient for you and your team.
  • Simple Maintenance: Maintenance becomes simple when you don’t have your own furniture or equipment to look after. You will just have to pay for the usage on a regular basis in order to sit back and appreciate it. Similar to you would for any piece that you would have purchased yourself. You won’t have to incur any cost on its upkeep, as you would have if these were your own property.
  • Enhanced Security: Readymade installations are renowned for coming with parking, network, security, etc. Choosing an office space that comes equipped with all these amenities will be an excellent investment and prudent option. 

If you undertake a cost-benefit analysis, you will come to realize that setting up office space from scratch might incur much more expensive than opting for a fully furnished office for rent. A fully furnished workplace will always be like having your cake and eating it too. You get a space ideal for your business needs while cutting costs, time, and effort. It really can’t get any better than this, simply opt for any office space for rent in Bangalore to get all your queries answered.

Flexible Office Spaces in Bangalore: Everything You Need to Know

Flexi work modules being the post-pandemic new normal, corporates are increasingly looking at modular options that address dynamic needs with customised solutions. Flexible workspaces, the emerging optimized solution for office spaces – (with large aggregators such as WeWork, Awfis, CoWorks, among others) allow for types of offices one can rent by the hour or by the month, from an entire room to just an individual desk. Bengaluru has seen freelancers to start-up businesses, companies and employees alike – increasingly adapting to shared workspaces.

Here’s a list to explain what terminology to use when looking for workspaces for rent in Bangalore:

i) Hot Desk – Essentially, no particular desk is assigned to one person. Each day one will work at a different desk – All one needs to do is find a space on one’s app and show up.

ii) Dedicated Workstations – Bangalore’s shared workspaces have workstations tailored to specific people. Each day, you will have the same desk, pretty much standard protocol, i.e., a designated seat at a traditional office space.

iii) Shared Office Space/ Co-Working Space – Flexible workspaces in Bangalore are essentially the same asset with a different terminology; Our shared workspace in Bangalore can be customized to meet the needs of individual companies; however, some basic features are the same across all spaces. Your office essentials such as wi-fi, furniture, cleaning staff, and appliances will be included while some other co-working spaces may also include reception staff, where the team is trained to assist you with any questions you may have, with several of them trained to take your calls and messages.

iv) Meeting Rooms – Having a private meeting room where you can meet with clients or conduct team meetings without disturbing others is an option you can consider.

v) Event Spaces – You won’t have to pay over the odds to host an event at a flexible workspace in Bangalore, as they also offer dedicated event spaces.

vi) Breakout Rooms and Spaces – When you need a break from work, these give you a chance to relax in comfortable zones.

vii) Quiet Areas – Many shared offices in Bangalore offer quiet workspaces that you can rent if you need to focus. You won’t be disturbed by other people in these offices, a handy element, especially in the middle of a review/critical project.

Flexible office spaces – options for everyone. A remarkable aspect of flexible office space is that anyone can use it. However, freelancers, as well as start-ups, traditionally use workspaces to rent in Bangalore; in more recent years, established businesses have also been using them to help build and grow their companies. How do they work?

● Remote and Home Workers – Since most people worked from home during the pandemic, remote collaboration demonstrates that a team doesn’t necessarily have to work together in a single space to accomplish a task. Even though many people continue to work from home because it’s easier and more flexible, sometimes the buzz of an office is just what an organization may need.

● New Businesses – Businesses that are just getting started can benefit from a shared workspace and, thus, distributed rentals – in Bangalore. New businesses may choose not to commit to long-term and expensive leases and benefit from fully equipped and furnished offices without worrying about maintenance.

● Small Businesses – With a flexible workspace in Bangalore, you can stay focused on what matters most to you without having to worry about overhead costs and long-term lease contracts.
● Meeting Rooms – It may be necessary for you to rent a larger or more elaborate meeting room to host clients and customers, even if you have a traditional office setup. It is simply a matter of hiring one of the many meeting rooms and enjoying the benefits without having to travel long distances.

● Freelancers – Working from home is excellently flexible, but there are times when you need to concentrate and work hard. All you must do is find a workspace to rent in Bangalore, hire a desk for the day, and enjoy the perks of an office, including networking and meeting potential new clients.

● Flexible Office Space – The benefits outshine the demerits. Shared workspace set up in Bangalore may seem a bit complicated for those unfamiliar with it – but there are enough benefits to drive this asset class.

a) Cost-effective – Besides saving money, you won’t have to deal with long and expensive leases and building maintenance, as you can pay for it by the hour or per month.
b) Perks – Besides wi-fi, ergonomic furniture, printers, and scanners, meeting rooms are also included at the same price.
c) Flexible – Our flexible workspace in Bangalore offers a variety of payment options, in addition to different opening hours (which makes it easier to work when it is convenient for you.)
d) Increase in productivity – Sharing workspaces in Bangalore has been shown to increase employees’ productivity and focus by allowing them to work remotely but still in a professional setting. With a co-working space, your company could thrive while being exposed to new people and trades. You no longer need to follow traditional office rules – you can create your own space that suits you and your employees. With a shared workspace in Bangalore, you get much more than just a desk by the hour. Discover some of the fantastic places we have to offer and step into the future of work now.

Are the Home Office and Zoom a perfect match?
Businesses have found Zoom to be a great resource, offering a secure connection where virtual business can occur. In 2020, it provided Indians (and global corporations) with a sense of normality and mild socialization. Can a home office, however, be considered a sustainable option? Many people may answer in the affirmative; however, the workspace’s socialization aspect, as well as the milieu of an aggregated team under one roof, is not worth dismissing.

How does hybrid co-working work? Is it possible to have both?
Several companies have rethought the 9-5 office model that has existed for more than a century. So far, in 2021, we have seen an unprecedented demand for premium working spaces as we move out of uncertainty. Companies are rethinking the way they work, and while they want to keep a home base, they have difficulty retaining the benefits of a large office building when other options are available. Many companies employ hybrid models, rotating employees at both office and home, thereby reducing costs and keeping employee morale alive.

As part of a thriving co-working culture, these companies are also experiencing a reduced need for developed company culture. Many co-working office spaces have monthly events where members can have a drink, chat, and relax after a long week. They can focus on what matters while taking care of, in terms of cost, venue, and organizing.

How About Meeting Rooms?
When working in a traditional office setup, meeting spaces are billed into the overall charges, irrespective of usage. In a co-working model, you can have meeting rooms available whenever you want, or you can have a monthly credit toward meeting rooms as part of your membership contract. Once that is done, you simply pay as you go. Corporates are gaining the benefits of co-working in other ways, such as earning a smaller office without meeting rooms while utilizing the nearest co-working space whenever they need one.

‘An Office That Grows as You Grow.’
Adding another desk or private office has never been easier as the corporate teams grow, as one or two more people join, and as the corporate teams grow. Everyone has a space they can work in, and unnecessary costs aren’t incurred for offices they might or might not use. When you decide to work from home, just downsize the next month. The co-working industry, which currently accounts for 6% of total office space in Bangalore, is expected to catch up with major cities in India, which sit at 30% at the moment. For more details, contact us at +91- +919880854061 / +918951567555

Creating a Green Office is the Future of the Office Spaces

The office space has changed dramatically over the past 30 years due to digital innovation. As a result of digital transformation, companies could work more remotely, commute less, and experience lower costs. There are more companies with a remote workforce in 2019 than ever before. 

Even though many practices, products, and services have evolved, and some sectors (for example, media) have been fundamentally reshaped, very few enterprises have experienced major changes in their core businesses. 

The office is still the main place of work although more workers are switching to remote work. 

Consequently, the physical business environment, namely offices and buildings, where people typically spend at least 8 hours a day, plays a significant role in sustainability and has a strong impact on climatic conditions. 

Our blog today covers how to make your office a green one, and why doing so is beneficial for everyone. 

Is there a concept behind this? 

Its main objective is to strive for continual improvement to reduce the environmental impact of office work. With Green Office, the organization aims to improve its environmental performance. 

Among the goals of the Green Office are: 

● Efforts to reduce natural resource consumption 

● Reduce global warming 

● Organize activities that promote sustainable living 

When and why did it emerge? 

As the pioneer of the concept of the Green Office, the World Wildlife Fund, known as WWF, has begun offering it as a ready-made solution to offices in Finland and then worldwide. 

World Wildlife Fund (WWF) launched Green Office in 2002 as an environmental management system (EMS) for offices. It is organized into four main sections: 

1. Reduce expenses in a meaningful way 

2. As a tool for supporting environmental management, 

3. Developing a program to inspire employees to adopt environmentally friendly habits and make sustainable decisions. 

4. Environmental communication tool used internally and externally.

What is the process of implementing a Green Office program in an office space? 

By implementing Green Office programs, workplaces can reduce their environmental impact, develop recycling programs, engage in sustainable travel, and reduce their operational costs, all in the process of reducing their impact on the environment. Green Office encourages the adoption of environmentally friendly habits among employees as well as reducing their carbon footprint. Employees who engage in an honourable cause are more satisfied with their jobs and are more likely to be well-rested. 

The implementation of Green Office in office spaces – small and large – in private corporations, government agencies, and other institutions can reduce their ecological footprint and their carbon dioxide emissions. An office space that wishes to improve its environmental management is included in the target group. 

In addition to practical environmental management, the WWF Green Office program offers a certification program that places particular emphasis on CO2 emissions. Compared to formal environmental systems or quality systems, this program is specifically designed for office spaces, thus focusing primarily on behaviour change. 

A global network of leading sustainable office spaces, Green Office shares best practices and experiences. 

A practical guide to implementing the Green Office: 

Here are some tips for the successful set-up of your Green Office at your workspace, which can help you get started. 

Energy and emissions: 

If it’s a bright day, use natural light as much as possible, and install sensors that will automatically switch off lights when they’re not needed, as well as energy-efficient LED light fittings. When leaving the office, ensure that all office appliances are turned off. Lighting can consume up to 30% of an office’s electricity. 

Public transportation: 

Public transportation will reduce energy consumption and harmful greenhouse gas emissions that harm the environment. Using public transportation to get to work will use less energy and produce less pollution than travelling by private vehicle. 

Paper: 

As compared to emissions from electricity consumption or air travel, paper consumption produces relatively lesser amounts of greenhouse gas emissions. However, it has large environmental impacts, especially if the amount of paper used in offices is taken into account.

To conserve nature and biodiversity, it is important to look at the source of the wood fibre used to make the paper. Paper with the FSC label is made from 100 per cent recycled fibre and comes from sustainably managed forests. 

Instead of personal printers, install a few multifunction printers to share throughout the office. Additionally, personal printing boxes and secure printing decrease waste. 

Water: 

In several areas around the world, humanity’s water footprint exceeds sustainable levels, which makes reducing both direct and indirect water usage crucial. Reduce water consumption by turning off the faucet and installing water-saving equipment, such as motion detectors. Run full loads when using dishwashers and choose energy-saving programs. Food from domestic, seasonal, and organic sources can reduce water consumption as well. 

Waste: 

Many countries still do not have proper recycling programs in place, resulting in waste being dumped in landfills. There is no better way to reduce greenhouse gas emissions faster than to stop this practice. It contributes immensely to greenhouse gas emissions and needs to be outlawed sooner rather than later. 

Office space in Bengaluru can conserve natural resources, reduce environmental footprints, and minimize waste costs by minimizing unsorted waste and recycling. 

Are there any potential gains, advantages, or benefits? 

Even though paying less for utilities is a sensible decision, it’s even more important to reduce CO2 emissions, the greenhouse gas that is fueling the climate crisis. In addition to creating a healthier, wealthier, and more emotionally friendly workplace, changing everyday habits can also help stop climate change. 

Let us explore sustainability together in the future! I hope you have now been inspired to create your own Green Office and continue your exciting journey towards sustainability.