Being touted as the next Silicon city, Bangalore has managed to elevate above the rest when it comes to the establishment of start-ups. In recent surveys conducted, Bangalore was the most preferred city in India to establish a start-up. Technological advancement and flexibility are the key reasons why people prefer to work in this city. Let’s not forget the abundant number of opportunities present in every nook and corner. When the number of start-ups increases so does the resources such as office spaces. Thus, this necessity has given birth to an evolutionary concept of shared offices.
Today in Bangalore, shared office spaces like the Bangalore Coworking Hub are assisting the start-up community in many ways. They not only provide a cost effective option but also has numerous added benefits. In fact, though in the beginning, it started out as an option, now it has become a necessity of some sort. People have realized the secret behind shared offices in Bangalore which boosts productivity and sales.
Some of the major constraints faced by a start-up or emerging business these days include:
- Budget– This is basically a calculation of the amount required to lay the foundation of your business. This will include total costs required to start functioning as a business.
- Resources– It includes labor, office space, furniture, technology and other such resources required to function.
- Time– You must be able to manage your time so that you don’t end up going in to a loss due to delays. Any kind of delays will increase your costs and reduce your profit margins consistently.
The above three factors can be reduced to a large extent if you take the decision of opting for a shared office space like the Bangalore Coworking Hub. Your budget and liabilities decrease to a considerable extent. Shared offices provide you all these advantages for a lower cost therefore helping you to save your resources while increasing your profitability. Resources such as office furniture and electricity are shared among other companies using the office space therefore it works out better for everyone. The last factor which is time provides the utmost benefit to this concept. Instead of wasting time looking for offices all around and ending up with a small space in a remote area, you can choose a shared office space for a lesser amount in a prime location. You will save both time and energy so that you can redirect them towards your goals.
Apart from these factors, shared offices have larger benefits that impact the profit margins of your company. Take a look at the following boosters:
Platform for Innovation
Shared offices have people from various sectors working under the same roof. When you have some much difference of opinions and people from different backgrounds, you are bound to get creative and constantly find unique ideas. To form a million dollar idea, all you require is fresh perspective and that is exactly what you get in a shared office environment. Especially in Bangalore, the crowd is a complete mix of local people and migrants from different areas in India, even foreign expats are quite prominent here. So with this diverse crowd, employees feel more inspired and come up with great ideas for the company.
What better way can there be to advertise and market your company within your shared office environment. You have many different companies working under the same roof who can potentially be your future clients. If you strategize and market your brand through your employees, you garner a large interest for your company which in turn increases your profit margins. A shared office environment can even have a large corporate company or just a medium sized business, which increases the pool of investors and potential buyers for you. You wouldn’t even have to spend too much marketing your brand outside.
Sharing an office in Bangalore would be a wise move which will help you enjoy the benefits on a long term basis and give your company a boost in its initial stages. What more could a start-up ask for?