Startup ideas may start from the basement of your home or from a bar around the corner. However, for the company to function and grow, a good professional environment is necessary, which you gain from the Coworking space.
According to a recent report, the cost of owning an office space makes for about 9-12% of the operating costs of a well-established company and this can go higher for a startup.
This is why coworking space is best for a startup in India. Recently, a number of co-working spaces in Noida and Gurgaon have been launched. Let us learn more about how a startup company can benefit from coworking spaces.
Budget becomes a significant concern for a startup as, during the initial days, earnings are low and operating costs are high.
Due to the high rates of commercial real estate in India and rentals growing at a rapid pace, coworking spaces make the most sense for companies that are in their initial stages of operation.
At a coworking office, you can get the benefits of fully-equipped office space including conference areas, recreational zones, and a pantry.
It would also give your business a professional address where you can meet clients.
Again, due to the budget constraint, even if you are able to find an office space, it would be in a remote area or in a project away from the city. According to the best commercial builders in India, Coworking spaces will give you the benefit of a full-fledged office in prime locations.
In Delhi/NCR, some of the most popular locations where you can find coworking office spaces are:
- Noida Sector 140A
- Udyog Vihar, Gurgaon
- Noida Sector 62
- Nehru Place, Delhi
- Lajpat Nagar, Delhi
If you operate from such prime locations, it gives a more professional vibe to your business as compared to a home address.
In a coworking space, you would find a lot of like-minded people who are goal-driven and aspirational.
Being around such people would be a constant inspiration for you.
Also, such offices have people from various industries so you will be constantly in touch with professionals who could be potential clients or even a partner.
When you purchase an office space or lease one for a few years, you will be stuck with the space you have available at hand.
So, in case your team grows rapidly or if you need a customizable space for setting up an in-house team of say, IT or Design, it won't be easy to scale up accordingly.
However, in coworking spaces, you will enjoy flexibility. You can change your contract of use as per the changing needs of your business.
The initial years of a startup can be overwhelming for you and your family. Working from home adds to the pressure and you may never get time for your loved ones.
Even if you don’t have a family in the city, it is important to take a break from work and de-stress.
Moving to a coworking space helps you maintain a better work-life balance as it would be like going to the office for a 9 to 5 job and making time for yourself.
So, if you have a startup and don’t know where to set it up, it is best to go for a coworking space instead of spending a fortune on leasing or buying office space in Noida.