Flexible Workspaces: 8 Amazing Benefits for Flexible Workspaces

The Office Pass (TOP) To Launch 13th Coworking Space in Delhi NCR

by Sandeep Sharma | posted in: Coworking in South Delhi | 0

Gurugram, 16th November 2022: Neighborhood Coworking operator The Office Pass (TOP), which currently runs 12 Coworking offices in Delhi NCR, plans to open a new office in Gurgaon by November end. The new office will be launched in Unitech Cyber Park, Sec 39, Gurgaon (near HUDA City Centre metro station). This will be TOP’s 11th office in Gurgaon and third one in Cyber Park complex. With this opening, TOP will reach a capacity of 1,200 seats in the Cyber Park complex.

The new office will be opened in Gurgaon
TOP will become the only Coworking operator to have 13 Coworking offices in Delhi NCR

This year has been extremely rewarding for the Coworking industry as there has not been any covid related disruptions. Companies and employees who were earlier working from home #WFH have started hybrid working leading to a surge in demand for flexible workspace providers like TOP. In addition to this, several companies are allowing their employees to work in an office close to their residence and that is creating a tailwind for Neighborhood small offices format.

“As companies move away from traditional leases and people prefer to work from an office close to their place of residence, we are experiencing good demand for our Neighborhood Coworking model. TOP’s revenue in FY’22 grew by 135% and our business turned EBDITA positive. TOP expects similar growth in FY’23.,” said Mr Aditya Verma, Founder & CEO, The Office Pass (TOP).

The Office Pass (TOP) Coworking Office at Unitech Cyber Park, Gurgaon

TOP’s 12 existing offices (10 in Gurgaon and one each in Noida and South Delhi) are running at around 90% occupancy. This expansion will strengthen TOPs dominant position further and will make it the largest Coworking operator in Delhi NCR with 13 operational offices. The company hopes to achieve break-even in the new office within 3-4 months of the opening.

Commenting on the company’s expansion Brijesh Damodaran, Partner, Auxano Capital one of the early investors in The Office Pass (TOP) said, “TOP is the first player in the Neighbourhood Coworking space and today it’s a market leader in this space. Managing the working capital efficiently along with being diligent in identifying new office spaces has been its USP. Increasing its geographical reach outside of NCR is the next big step for TOP and 2022/23 should see this in action.”

The Indian flex space market has seen huge growth over the last few years. It is still very early days for Coworking players. It is pertinent to note that the current flex market penetration in total office stock stands at approximately 3.5%. According to JLL’s office market report, India’s average penetration rate for the top seven cities could reach around the 4.0-4.5% mark over the next two years.

The Office Pass (TOP) Coworking Office at Unitech Cyber Park, Gurgaon

There are several demand drivers at play for the Coworking industry. Firstly, companies are opting for flexible workspaces over traditional leases. This trend has got amplified over the past 12-18 months. Secondly, Coworking operators like TOP are able to pass on an economic benefit to corporates that helps them to lower their office operational expenses by 18-22%. This is critical during time of an impending slowdown. Finally, there is less competitive intensity in the Coworking segment post covid. Many of these factors will continue to be in play over the next 12-18 months.

TOP typically takes office spaces of 10,000 to 30,000 SqFt. These spaces are then furnished to suit the requirements of Indian Small & Medium sized businesses (SMBs). TOP also takes care of office related services like housekeeping, admin, IS, high speed internet, electricity, tea / coffee, office supplies, equipment AMCs and statutory compliances like fire safety, insurance and taxes. SMBs takes these services on a cost per seat basis. The average monthly cost per seat is INR 8,500/- to 12,000/- per seat for a 12 months contract. TOP makes a margin of 35%-38% at 85% occupancy.

By shifting from a traditional office to Coworking, SMBs are able to save 18-22% in terms of office operations cost. This is the main reason for companies to shift towards Coworking.

The demand for flexible workspace was largely driven by freelancers and start-ups in 2015-2019. However, post COVID, organisations of all sizes have developed a fancy for this format. Going forward the demand will be largely driven by small to mid-sized companies, large companies and MNCs using Coworking for their distributed / hybrid office formats.

About The Office Pass (TOP)

The Office Pass (TOP) is a technology driven Neighbourhood Coworking & Managed Office space provider. TOP is the only Coworking & Managed Spaces Company in India that promotes #Walk-to-Work. TOP’s vision is to have multiple Coworking offices spread across the city. TOP offices are located in CBD areas and around residential Neighbourhoods, so one can find the nearest office in less than 20 minutes. You can think of TOP as a convenient store for Coworking (like 7-ELEVEN).

TOP currently runs 12 offices across Gurgaon, Noida and Delhi. 135 mid to large size companies are using TOP Coworking and Managed office services. The company plans to open over 100 Neighbourhood offices over the next 3 years with presence in multiple cities across India.

To learn more, visit https://www.theofficepass.com/ and follow TOP on LinkedIN, Facebook and Startup Story.

BOOK A COWORKING TOUR

7 Common Types of Coworking Spaces Available in India

Why are Coworking Spaces the Right Choice for Business Travelers?

by Sandeep Sharma | posted in: Business, Coworking Spaces | 0

Let’s say you’re an interior designer with simultaneous ongoing projects in Delhi, Bombay, Hyderabad and Bangalore. This means you need to travel to sites frequently and you might need to stay there for a few days each time. After you’re done with your site visit – where do you work from?

A coworking space is an ideal solution. If you identify yourself as a digital nomad, you’ll be surprised to know that 21% of digital nomads prefer working out of a coworking space. Coworking for business travellers is comfortable and has many benefits. Let’s take a look at the top 6 reasons why coworking spaces are the right choice for business travellers.

6 reasons why coworking spaces the right choice for business travellers

Dedicated Workspaces Are More Productive Than Hotel Rooms
Fewer Distractions – As Compared To Cafes
Flexible Arrangements
Access To Essential Infrastructure
Networking Hubs
Spaces Where You Can Do More Than Just Work

1. Dedicated Workspaces Are More Productive Than Hotel Rooms

Sure, when you’re travelling out of town, the company probably puts you up in a good hotel and you could work out of your room. But, that’s a lot like working from home. Not all hotel rooms have a desk and chair where you can work from. The bed always seems inviting and tempts you to laze. If you choose to work from your bed, you’ll soon find yourself complaining about aches and pains.

On the other hand, a coworking space is set up for you to be productive. It has ergonomic seating arrangements and you’re surrounded by other working professionals. That alone acts as a motivational factor to help you tick tasks off your to-do list. A survey found that 60% of coworking members took business trips for more than 4 weeks a year.

Source: SlideShare

2. Fewer Distractions – As Compared To Cafes

Cafes are the old-school work location for business travellers. You can get yourself a cup of coffee and plug your laptop in simultaneously. However, these places abound with distractions. Not everyone else in the café is working. It is a leisure space so you cannot tell people to talk softly or accuse them of disturbing you.

One of the common coworking office space benefits for travellers that makes these spaces appealing is that you’re guaranteed a quiet, work-friendly atmosphere. Nobody will come up asking you to place an order or tell you to move to another table. You can simply put your headphones on and stay focussed on the task at hand.

3. Flexible Arrangements

When you know you have to travel frequently, you don’t want to be tied down to monthly leases. You need flexibility. This is one of the biggest coworking benefits for business owners. Coworking spaces typically offer desk space to be rented out by the month or by the day.

When you know you haven’t got trips scheduled, you can take up a monthly pass for a slightly lower price. And, when you know you’re going to be traveling every other week, you can take up desk space on a daily basis. Thus, it helps control costs without compromising on your working environment.

A 2019 Deloitte study revealed that 45% of businesses planned to incorporate the ‘hot desk’ concept while 30% already used hot desks. It’s safe to say, the advantages offered by this flexible system make it a popular one.

4. Access To Essential Infrastructure

One of the common troubles experienced while working from a hotel room or a café is the unavailability of basic infrastructure. It goes beyond the lack of a proper desk and chair. Let’s say you need a printout… The internet connection may be spotty too. It can be very frustrating to have the net connection fail while you’re in the middle of an important video conference.

Coworking spaces are equipped with all the basic infrastructure you need to be productive. In addition to ergonomic chairs and desks, you can work in a clean, air-conditioned space with a steady, high-speed internet connection. Printers, scanner, fax machines and video conferencing equipment is also often available.

5. Networking Hubs

When you’re travelling out of town every few days, it can get lonely. Limiting yourself to work meetings and hotel rooms keeps you from meeting new people.

But, when you walk into a coworking space, you’re walking into a local networking hub. Coworking spaces are frequented by freelancers and remote workers from all industries at various stages of their careers.

Source: SlideShare

It makes it easier to meet and interact with other professionals. Who knows, what starts out as a random conversation by the coffee machine may turn into a brainstorming session. You could even find collaborators and mentors in coworking spaces. If you’re thinking of a change in your career, a coworking space could open doors for you and help you find opportunities.

6. Spaces Where You Can Do More Than Just Work

Even when you’re on a business trip, you need a balance of work and play. This is another reason to choose a coworking space. After work hours, coworking space providers often organize social events for coworking members to gather and engage with each other. Many coworking locations have extracurricular facilities like pool tables, foosball tables, ping pong tables, etc.

This gives you an opportunity to relax and cool down after a long day of work.

Choosing The Right Coworking Space

To ensure that you have a productive experience when working while travelling, you need to choose the right coworking space. Cities like Delhi, Noida and Gurgaon have multiple options available. Ideally, choose a coworking centre close to your hotel. Make sure it is easily accessible and comfortable to work out of.

Coworking spaces like those provided by The Office Pass (TOP) are ideal. Furnished, equipped with all the infrastructure you may need and comfortable to work from, these are the best choice for you. To know more, reach out to us at 08999 828282.

BOOK A COWORKING TOUR

How A Coworking Space Helped Founders Accelerate Their Company’s Growth

by Sandeep Sharma | posted in: Coworking Spaces | 0

Technically speaking, you can work from anywhere – your dining table, a café, etc. Productivity isn’t guaranteed though. As the founder of a small business, you need a professional environment with minimal distractions and a supportive community. This is one of the reasons why coworking spaces have always been popular with entrepreneurs.

The number of coworking spaces worldwide has been growing steadily. According to a study, by 2024, it is expected to cross the 40,000 mark. Over 5 million people are expected to be working from these spaces. In terms of the current number of coworking spaces, India ranks second worldwide.

Source: Coworking Resources

A coworking space is fully furnished, equipped with all your basic office infrastructure such as high-speed Wi-Fi, printers, video conferencing equipment etc. and most importantly, they are budget-friendly. Well known international companies like Uber, Spotify and Instagram started from a coworking space.

We spoke to three founders working out of The Office Pass (TOP) shared offices to learn how being in a coworking space helped them accelerate their company’s growth graph.

Coworking Eliminates Overhead Stresses

Bikash Sahoo, Founder, Creanovation Technologies Pvt Ltd.

Though the company is relatively young, Creanovation Technologies was looking for a coworking space for big companies. They have a 50+ member team. Their choice was driven by three factors. Firstly, staff safety and security offered by the coworking operator. Second, the convenience and accessibility of the coworking location and finally elimination of overhead costs associated with running an office.

Bikesh from CTPL @ The Office Pass, Unitech Cyber Park, Gurgaon office

Creanovation Technologies had earlier operated from a traditional office space and hence understood the resources and effort required to maintain an office space. Moving to TOP addressed these concerns. It was cost-effective and the team got easy access to a range of resources. Reliable internet, a safe space to work from, and knowing that day-to-day operations would be managed by someone else, minimized disturbances, this improved their workflow and optimized their productivity. The results were easy to see as the company grew more successful and expanded its partner network.

Coworking Keeps The Focus On Work

Sushant Yadav, Founder & CEO, Optimite Technologies

Optimite Technologies tried working out of a few other coworking spaces before finding a base at The Office Pass (TOP). As a leading coworking space at Cyber City in Gurgaon, TOP’s location is a vibrant space to work from, well connected to the Moulsari Avenue Metro station, safe and secure especially for the team’s female members. The flexibility offered in terms of membership also made the space appealing to them. The team has had a regular membership to The Office Pass at Cyber City, Gurgaon for 2+ years.

Optimite Technologies Team @ The Office Pass, Cyber City, Gurgaon office

Sushant sought out peace of mind for his team and access to office infrastructure without the headache of managing day-to-day operations. This freedom allowed them to focus their attention more towards their work and minimized distractions. This improved ability to focus has made Optimite Technologies the trusted partner for agencies worldwide despite having been around for just a little over 3 years.

Coworking Makes Operations Cost Effective

Ankush Likhyani, Founder & Managing Director, Edventus Business Enhancement Partners

The Edventus team has been working from The Office Pass (TOP) for over three years. With a growing team of 15 employees, the coworking space offered by TOP proved to be the most relevant office space to work from.

Their choice was influenced by its location, available infrastructure and cost. It ticked all the boxes of their list of office requirements and was more cost-effective as compared to getting a traditional office space for rent.

After all, the cost of renting an independent office is not limited only to the monthly rental. There’s also the cost of furnishing the office and cost of all other infrastructure to be considered.

As a coworking space, TOP gave the Edventus team a fully furnished and well-equipped office to work from. The managing team did not need to worry about regular administrative headaches or the cost of installing and maintaining these assets. This allowed them to prioritize their budget towards improving their services and catering to customer needs. Today, Edventus helps businesses across 15 industries recruit graduates from over 200 B-schools.

Finding The Right Co Working Space For Your Company

These are just 3 of the many success stories that TOP has been a part of. The Office Pass (TOP) is popular with founders of big and small companies as well as remote workers and freelancers. Every TOP location is furnished with ergonomic furniture, laid out to encourage interaction and collaboration and equipped with everything you may need to be productive. These are spaces where innovative ideas thrive.

The Office Pass (TOP) offers a regular and flexible membership plan for their locations in Delhi, Noida and Gurgaon. To know more, reach out to us at 08999 828282.

BOOK A COWORKING TOUR

A Day In The Life Of A Coworker

by Sandeep Sharma | posted in: Coworking | 0

A coworker’s day doesn’t just begin and end at the workplace, but includes everything else in between and away from it. Depending on the type of industry the coworker belongs to, shapes their daily activities and a routine is built around it. However, there are some common actions we all share when it boils down to our work lives, whether that is commuting, attending meetings or fulfilling deadlines.

One factor that can influence the enjoyment of such activities is the work environment, which impacts our mood, concentration, and our performance as a result. The arrival of COVID-19 bought with it a transformation in how we work, where we work, how we interact with our work. Flexibility is a new term the working industry had to get accustomed to, and was previously thought of as a job benefit limited to a few fortunate ones.

The requirement to be physically present for many jobs took a dip, as people worked comfortably within in the luxury of their homes, yet still achieving the same results as a day’s work in the office. While some still eagerly awaited to return to their offices, others hopped on the new trend of joining coworking spaces.

Coworking spaces are the new kids on the block, providing the amenities of a high end office, and an environment that provides a comfortable, home-like feeling. Many have decided to choose this option over working at home or in an office, where they are able to socialize and interact with members from other industries, whilst seamlessly working on their own personal tasks.

Now, more than ever we are connected online in every way possible, whether it is for communication purposes, collaborative work or submitting individual assignments. This means that work can be accomplished almost anywhere, provided the place has a fast-paced internet connection. While this may be an issue at homes, and the high general cost of running an office, coworking spaces are the new, best alternative. Let’s go through what a day in the life of a coworker might look like at a coworking space like The Office Pass (TOP) – with multiple offices in Delhi NCR.

Meet Aryan. A Software Engineer, living in Gurgaon, working for a tech firm. Before the pandemic, he used to commute daily to his office, attend meetings, finish tasks and return home. This seemed to become a repetitive and mundane cycle for him.

During the pandemic, he was homebound, everything shifted online, and although comfortable, distractions were plenty and the persistent/non-changing environment reduced his motivation/drive to work effectively and he saw a dip in his performance.

As the pandemic tapered off, he discovered the opportunity to work in The Office Pass (TOP) a coworking space on Golf Course Road, Gurgaon near to where he lives. As his company decided to continue work online, his physical presence was not needed, and he took the opportunity to enroll himself to work at a coworking space.

His day now involves a small 8 min walk to the TOP Coworking office, comfortably settling into a personal desk and chair and beginning his day’s work in a creative environment. As the day progresses, he occasionally uses one of the meeting rooms to conduct an online seminar or a meeting with his senior at HO. Around 1 pm, he proceeds to have lunch and coffee in the cafeteria space, and then decides to rest and lounge with other members at the space in a breakout/seating area.

He is able to form new connections with coworkers from other industries, which brings forth interesting conversations. Unlike his colleagues from the company, with whom he competes professionally, with the coworkers there is no such apprehension. The conversation with the coworkers is, therefore, without any prejudice.

What we can learn from this is that whilst the work to be completed remains the same, what impacts the efficiency, is largely dependent on the environment the coworker is in and the behaviour with which they approach their work. And it can be said that the behaviour is largely influenced by the working environment, and so as previously described, coworking spaces have become a new available option, providing flexibility, comfort and top class facilities as an office, with the freedom of socializing and conversing as though in a home-like space.

BOOK A COWORKING TOUR

Blog Full

6 reasons why coworking spaces the right choice for business travellers

1. Dedicated Workspaces Are More Productive Than Hotel Rooms

2. Fewer Distractions – As Compared To Cafes

3. Flexible Arrangements

4. Access To Essential Infrastructure

5. Networking Hubs

6. Spaces Where You Can Do More Than Just Work

Choosing The Right Coworking Space

Coworking Eliminates Overhead Stresses

Bikash Sahoo, Founder, Creanovation Technologies Pvt Ltd.

Coworking Keeps The Focus On Work

Sushant Yadav, Founder & CEO, Optimite Technologies

Coworking Makes Operations Cost Effective

Ankush Likhyani, Founder & Managing Director, Edventus Business Enhancement Partners

Finding The Right Co Working Space For Your Company