Do shared office spaces work?

Shared office spaces can also be called coworking spaces. It is a very fine concept and it has a long way to go. In shared office spaces, various companies work under the same roof and share the rent.

These people with shared office spaces get access to desks, tables and in most cases connectivity to the internet. Shared office spaces do work as there are a lot of offices like that. How it works is what that has to be answered in the following.

How shared office spaces work

The following points will showcase the work procedure of the shred office space.

● In a traditional office, people see the same people days after days and form a bond among each other. However, in a shared office space, there is no obligation of falling into a creative rut in that manner. People, in fact, can be more creative in a shared office space as they will get to interact with other workers working with other sets of ideas.
● Working in a shared office space solves the problem of distractions. In a shared office, the workers are able to focus and provide their best of productivity.
● The rent of shared office space is much cheaper as more than one company is sharing the price. It is, therefore, an advantage for people working in a shared office space.
● In a shared office, the collaboration also works well. If stuck in a matter, there will be enough people around to help in those regards. If congregated to work with several other startup firms, there will be a better chance of attracting new investors.
● In a shared office space, there will be all the necessary amenities to work well in an office-like environment.
● Shared office space in hsr layout provides a host of educational facilities that may include workshops, programming, panel discussion and many more. With these educational facilities, there is a better chance for various present startups to be successful.

Turning into a revenue stream

What is to be noted here is that coworking spaces may offer an appealing revenue stream. This revenue stream can be turned into a good source of income for the space owner. People who monetise the shared office space do so to expand their profit stream.

However, managing the resources and keeping them intact is another matter of task. The very basic model of generating good revenue out of a coworking space is when a start-up firm takes the responsibility of organising and managing resources of the shared office space.

That way, they are signing a lease of taking the responsibility, benefitting the owner of the shared office space. The venture studios is a fine example of that.

Shared office spaces do work in a lot of ways, as discussed above. They are not only less expensive but are also very beneficial for different startup companies.

The shared office spaces are well established all over the country and it has been generating a lot of profit. This concept of shared office is internationally known and locally regarded.

Many start-up companies have done outstanding work by renting a shared office space. This concept is gaining popularity rapidly and it has a long way to go.

THE VENTURE STUDIOS
Address:#L-176, 2nd Floor, 5th Main, HSR Layout, Sector-6, Service Lane, Near Outer Ring Road, Bengaluru, Karnataka 560102
Ph: 095555 33663

How to setup a coworking space:7 Points

Put an end to any doubts you may have about this matter. Find out if it's really a good idea and how far to start.


More and more, there are entrepreneurs with innovative ideas and new business models that are beginning to establish themselves in the market, such as startups.
This also changes the need for space for work, opening up an opportunity for coworking. Based on office sharing, this practice promises to be one of the biggest business trends worldwide.


Coworking is "becoming" around the world, today we can find different spaces within a neighbourhood, becoming a great way out for those who work at home, travellers, great entrepreneurs and startups.

The data shows that the culture of shared offices arrived in Bangalore with all the strength and should become increasingly relevant in the entrepreneurial market.

The Venture Studios, A Coworking space in HSR layout played an important role in this!

Do you have any property stopped and want to optimize this space increasing your income? Then you can invest in a coworking space. The last census revealed that this market segment grew by 110% in 2019 compared to the previous year.

But how to set up a coworking space?

Know that considerable initial investment is needed and the environment must be adequate for professionals to carry out their activities.
If you have this doubt, we clarify everything in this post.

Coworking Is About People


Before you think about opening a coworking space it is necessary to understand the most important point: Coworking is about people, not about chairs. You are not renting square meter, tables or rooms. You are building a community of professionals.
The vast majority of spaces offer a variety of services, such as event space, private/shared rooms and consultancies. But those spaces that really thrive and make the market proud are the ones that have a community of amazing people around.


Not a Parallel Activity


Several coworking spaces are born as the second activity of their founders. But you are wrong to think that you can manage a commercial co-working space along with your career or "main" activity.
What do you expect from your property if it is a Coworking? Will you create a project or a company?


If you just want to gather some interesting people, share the costs, exchange experiences, think about creating a non-profit project. People tend to be less demanding and more collaborative that way.
Now, if you want to start a business and live from it, you need to devote full time to that task. And, in fact, you'll probably need help. Think about having a partner or hiring someone to help you operate. Understand how we help you publicize your coworking space.


Coworking is About Environment


You should keep in mind that good spaces devote a large area to coworkers' coexistence.
No one will exchange experiences if they feel that they are disturbing their colleague next door.
Think about how the furniture will be made available in space. Offices are places where people spend considerable time, so it is important to invest in quality furniture.
Colours and lighting also provoke different sensations in people and therefore also influence the working environment. It is important to be aware of this choice so that they bring positive stimuli to space.


Invest in an area of coexistence, after all, there will be several profiles of people living daily in your space of coworking. Both to work and to hold meetings. It will be a space for networking and interaction.


Financial Viability


Will coworking bring results? Coworking is a very profitable industry, but you need to understand everything that involves opening an office and be willing to put in the right effort to make it work.
The physical structure that a coworking needs to function is not small. Probably you will have to make some adaptations in space so that it is transformed into a collective environment. Therefore, you will have to have a good amount for the initial investment of the business.


Working Capital


Certainly, you will have several costs with a coworking space, which is common in any type of business.
And to honour all these costs it is essential that you have working capital in the cashier of the company. Simple cash flow can help you define what working capital you need to start your business.


Coworking Disclosure


Do you know what you'll do to work on your coworking image? It should not be ignored! And you should think of the best tools, platforms and methods to work marketing to attract customers. After all, you need them to work.

Keep in mind what will be the target audience of your coworking space and invest in marketing to advertise your space and attract other professionals.

It's not enough just to set up an adequate and equipped coworking space in the best possible way, you need entrepreneurs and small businesses to know your space and be part of it.


Operational Processes


Like any good company, you will have to define very well what and how will be the existing operational processes in your coworking space. After all, it is also a company, your company.


Customer service is not something simple, much less the operational processes, the elaboration of the financial area and all the rest that involves the day to day of a company.
Everything should be focused on excellence, and it is important that you design and plan how all the processes of your coworking will be.


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