Summary of some of our thoughts in regards to market / new user segments born out of this crisis as well as coworking predictions for 2020!
Appreciate your thoughts and insights! I am curious as to the old model membership make up and the predicted new model: are the charts based on data or just hypothesizing? I didn’t think the current membership model was a bell-curving where in freelancers make up bulk of the membership. And I find it surprising if virtual members would make up a decent bulk in the new model (I have no doubt the corporate tenants would, but not sure about virtual, I just don’t see the value).
Thank you again for your thoughts!
As I have gone through your blog, It was a very nice experience for me to “how to provide you with a current market overview and forecast”.As we all know that co-working space is in high demand for any startup & entrepreneurs to start there new up growing business. We have the same market place known as mycoworkingspace
Yeah good points! I think there is data around flex spaces vs private office space in shared spaces but everyone does it a little different. Definitely no numbers on virtual memberships or day passes to our knowledge, that’s why we showed a rather extreme chart to make people think about if it could be that way in the future.
Read this post before seeing it here, and I found it pretty interesting
I’m not sure about any predictions of the future in general, but the articles on coworkingresources are usually pretty neat, well designed and interesting, so they keep me reading, and there’s always at least some great ideas in there!
** HOW COVID-19 IS IMPACTING FLEXIBLE OFFICE SPACE?**
The recent pandemic Covid-19 has pushed the world into uncertainty; the flexible office space industry is no exception. The debate about the impact of pandemic over the industry is stuck at a juncture. It has two sides of a coin reading different stories. Let’s look at both sides of the coin before understanding the impact.
With the major industries across the world shut down, the main focus of business owners would be to reduce operational costs as soon as they reopen. Laying off employees or cutting down the office space, which is a better option? Major business owners leap over the second option to keep their steady in spite of reducing the cost. The industry has seen exceptional growth past 10 years, and it will continue to allow business owners to take a few new and effective measures. All mid-sized companies who are looking to expand their business post-pandemic will have no option rather than coworking spaces in Delhi NCR because it is the most effective way to run the business at reduced operational costs without impacting productivity.
On the negative side, the industry is suffering huge losses with their current working models. As many coworking spaces in Delhi ncr are working on a monthly basis, weak or failed businesses tend to close their offices instead rather running them. Many current offices are dropping off, and the industry is running into a colossal crisis. The industry is suffering short term pain but is running towards long-term gain. The survival of the coworking industry during the pandemic times depends on various factors like the liquidity of the company, support from the government, duration of the lock-down, and support from the landlords. For the companies that can survive, rewards could be great.
CALL FOR CHANGES
The pandemic effect is sure to continue for a while, and most coworking space is to turn the plug and play offices offering great flexibility to the people who want to work remotely yet willing to work in the office like environment. Coworking spaces have to rush to meet the current demands of the people. These options will rule out the need for long term fixed costs and will turn a welcome opportunity for many.
The industry may have to change office configurations to ensure the safety of the employees who plug and play at flexible office spaces to assist their big companies remotely. If you have two companies sharing the coworking space, you may have to work on fixing rotation schedules for employees, ensuring the workplace’s safety. The workspaces have to be cleaned and sanitized at each work schedule, assuring the safety of the employees who log in at the workspace. The employee who hires the workstations should be requested to work on rotational shifts to ensure social distancing is implemented in the office, and it is never overcrowded.
Pushing off nonessential services like snacks, events to turns to be a useful measure. Limiting the capacity of the office can be the right measure to limit the impact of a pandemic.
STEADY SO FAR
The industry is said to undergo short term pain and long term gain. It is said to be steady so far. Irrespective of the impact of the pandemic, there are no noted defaults to date. Many flexible workspaces are all set open with some effective measures in place. The companies are turning flexible in terms of duration, making them a feasible option for the people who are looking for plug-and-play stations to work their big corporate offices working remotely.