A Coworking hub is unlike a traditional office. It offers shared office space to let entrepreneurs, mostly digital entrepreneurs work, collaborate, network and grow their businesses. Here we will talk about the Demand of coworking in Mumbai
In comparison to the leasing of a traditional official space, it has an advantage of cost-cutting in a range of 20- 25 percent in big cities like Delhi (NCR) National Capital region, Bengaluru, Mumbai, and Pune. The trend has picked up in India since half a decade and continues to grow exponentially.
Jones Lang LaSalle, property consultancy firm reported that the demand for Co-working space has become the highest in Mumbai. By the year 2018, it is expected that the co-working sector will garner $400 Million in investments, The sector is slated to grow by 40-50 % and expand over 1 million sq ft. in the area.
With the incessant rise in rented offices for businesses across the country, the total area leased by co-working hub landlords in the big cities could potentially stand at a stunning 7-9 Million square feet by the year 2020 the study postulated.
Currently, the potential market size for co-working sectors across the country stands in between 12-16 Million. Metropolitan cities such as Delhi NCR, Mumbai, Bengaluru, Pune, Hyderabad and Chennai account for about 5 million of this market size.
The study also revealed that Mumbai seems to offer the highest potential in the business with a dominant target of over a million people. The same is only closely followed by Delhi & NCR. Moreover, close to half-a-million of the demand comes from the three main southern cities namely Chennai, Hyderabad, and Bengaluru, coupled with Pune. Most of the demand comes from large corporate enterprises (around 70 percent), followed by emerging startups and small businesses (20 percent). Apart from that, the rest is the result of demands from start-ups and freelancers.
Do you want to break away from the confines of your regular 9 to 5 and take a chance to do what you always wanted to do? Do you dislike the idea of always being answerable to a boss? Then the time now is ripe to take the leap and open your startup.
However, it is understandable that getting a steady flow of clients right from the get go is one of the primary concerns of a freelancing beginner. Clients are the real breadwinners of every freelancer. But in the initial stages of your business, an account on a few freelancing websites like fiverr.com will not be enough for you.
Enter Co-working, a working approach wherein you can share a working space with a diverse pool of various entrepreneurs and teams from different backgrounds and businesses, get ideas from them, help them with something, collaborate with them and develop a great network of leads and referrals for your business.
If you are considering making the shift, check us out and we will be more than happy to help you!
Keep hustling!