The co-working business has been around more than 10 years. And recently, the industry has experienced a speedy development as well. In 2019, the business has expanded very well and the industry experts are expecting more co-working trends in 2020. Before you opt for a start-up office space in Mumbai, you have a great chance to know regarding the future of this industry.
Almost 1688 co-working spaces are expected to open globally in 2020. It seems like a huge development of co-working spaces will slow down. Here, the main fact is about quality and not quantity. Co-working business not only helps you rent a desk but also get involved in a community of people whom you can collaborate with.
WorkLoft, as a co-working business owner, agrees that member retention is hard with furniture and space design as people will expect some more. Hence, the marketing strategies of a co-worker space should be updated according to the latest trends of the co-working market. Let’s have a look at the scenario of the co-working business in 2020!
1. More profit gaining possibilities
When a start-up workspace first opens up, its primary source of earning comes from membership packages and fees, along with the fees for renting out their equipment. Now co-working places have understood that their popularity in the market is increasing and they can gain more profits by increasing the profitability per sq. ft. WorkLoft is a co-working agency that has opted for the same strategy and is currently offering shared office space in Mumbai to different business entrepreneurs, freelancers, start-up companies, and even big companies also. We concentrate more on fulfilling our members’ requirements and hence, ensure that our members invest more money within our developing ecosystem.
2. Quality is more important than quantity
Members’ quality should be the prime factor to be focused on over quantity. WorkLoft, a business center in Mumbai, focuses on members’ quality and innovation. We put the quality of members before the quantity. This helps us create a perfect space and retain members for a long period.
3. Clients’ demand changes with time
People considered co-working spaces a better way to avoid conventional workspaces. However, with time, it has become more popular among all. Now co-worker places provide their members with the opportunity of communicating with people from various backgrounds and organizations. You will find the same scenario at WorkLoft. We have focused on establishing a good quality brand that helps people work together and create a productive network. We don’t concentrate on alluring corporate clients; rather we focus on creating a useful community for our members. Moreover, we listen to the demands of our clients, which change with time.
4. Rise in usage
Studies have proved that shared office spaces are becoming more popular and catering to more members every year. Although this trend is old, now studies have also unveiled that co-working spaces are trying to bring more people into the same space with an increased percentage of office spaces starting to take over common spaces or event areas. These co-worker places are trying to get more money out of the present desks available alongside giving value to their clients’ demands.
2020 has brought many challenges and growth opportunities for co-working businesses. And as a provider of start-up office space in Mumbai, WorkLoft is trying to meet the changing requirements of the industry.
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