What should you choose between a co-working space and a regular office once the lock-down is lifted?

As India slowly progresses towards re-opening its markets and businesses to restore normalcy, for many business owners deciding a new setup, one question gains an importance greater than it ever had before – should we choose a co-working space or a conventional office? While this question might not have a straightforward answer, what could always help a business decide, are their needs, priorities and of course, the money! Many co-working spaces in India shall be offering the best deals in this upcoming season, so we invite you to read ahead, as we throw light on some of the key factors that you should consider while making the right choice for your business.

Better Bang for the Buck?

One doesn’t need to be an expert to know that co-working is the option that provides the best value for money as such. The demand of co-working spaces has undoubtedly taken a hit during the pandemic, like most other businesses. However, the experts would say that it’s very likely that a boom is seen fairly soon after the revival of businesses, as many businesses that would have given up their rented conventional offices, choose to temporarily or permanently opt for the more cost-effective option of co-working solutions.

Now there is the point that customization and seclusion might give an upper hand in many situations, to the conventional office setups; businesses today have to consider that setting back up and starting afresh is likely to take more time in a regular office versus in a well-designed co-working space. Given these nuances, during a time of financial struggles and unpredictability, most businesses weighing the options, might just incline towards the cheaper and quicker option of co-working.

What are the rentals like?

At Unispace, we continuously set the benchmark in value-for-money in co-working spaces within our circles. Here, we shall be covering the most-in-demand cities in Southern India, namely Hyderabad and Bangalore.

We have affordable Coworking spaces for rent in Hyderabad in the most trending localities that include Gachibowli, Madhapur, Kondapur and Hitech City, which are valued at prices starting from:

• Hot desks from INR 3999 per month per person (or INR 299 per day)
• Dedicated desks from INR 5999 per month per person
• Private suites from INR 6499 per month per person
• Furnished offices from INR 60 per square foot

Conventional offices in these localities would trend between INR 7,000 and INR 11,000 per desk.

Our Coworking spaces in Bangalore in localities are available in Kudlu Gate, Hosur Road and Whitefield, which are valued at prices starting from:

• Hot desks from INR 4999 per month per person (or INR 400 per day) in Kudlu Gate and Whitefield
• Dedicated desks from INR 6999 at Kudlu Gate and INR 7499 Whitefield per month per person
• Private suites from INR 6999 at Kudlu Gate and INR 7999 Whitefield per month per person
• Furnished offices from INR 72 per square foot

Conventional offices here would trend between INR 9,000 and INR 16,000 per desk.

Verdict

If you own a business that is looking forward to resume operations as the threat of the pandemic reduces in the coming season, it is likely that you have given up a previously existing set-up. If this is the case, there’s little room for doubt that the more valuable, faster and lower risk option is to go for a co-working space.

If on the other hand, your business decision has been to continue a conventional office’s rentals, it is probably a good time to weight the pros and cons of doing so. The co-working solutions available in cities like Hyderabad and Bangalore are more flexible and valuable than ever before, and now might just be the right time to taking a close look at an option that could be a turning point towards your continued growth and success.