With the current events happening around us, businesses are under stress. With cash flows being a major challenge, optimising infrastructure cost is drawing a lot of attention , keeping it mind that its recurring and it enhances YOY. Hence, movement or aligning into the right type of office space has become of paramount importance.
Before we take a step ahead, it’s important to know the current options in the market with respect to Office spaces in Bangalore.
Currently, the most common options observed in the market are:: Co-working, Private offices, Dedicated offices/Enterprise offices, Managed Offices, Independent office
Let’s understand each of these before we move further.
Co-working:: Mostly these are sublet options with dedicated office spaces. These are fully furnished options that come with all facilities like, Furnishings & fittings, common security & facility management, tea/ coffee services, common discussion, and conference rooms. Mostly this works on a per seat model and can also have options of seat basis or small cabin /enclosure.
Private Offices:: Dedicated and furnished office spaces with full access to all services and amenities, mostly in an enclosure Ideally for smaller teams.
Dedicated/Enterprise Offices:: The specialty of this model is that it can be customised as per on Clients requirement. However a lot of the services would be common like Reception, Maintenance, Housekeeping, etc.. All services like security, housekeeping, Internet ( broadband /leased line ), electricity bill, maintenance needs to be paid by the tenant. These are ideally relevant for office with more than 50+ employees or seats.
Managed Offices:: This is in complete sense of a Plug and Play Model which can be customised too. In this model, all services and amenities are built-in like furnishings and fittings, Electricity, Internet ( broadband ), housekeeping, security, Concierge services ( for some center ), inbuilt conference & discussion rooms privileges. This is ideally good for organisations with an employee size of 30-60 or more relevant for all who do not want the hassle of managing day to day operation issues or have lean resources for the same rather focus on business.
Independent Offices:: These are offices in which clients / Tenants manage by themselves the whole services from Interiors, Housekeeping, Security, Internet services act…These are normally taken as warm shells as full floors or full buildings, which could be in standalone or in tech parks. These are deals normally done between the tenant and the owner directly. These are normally with organisations with 100+ employees and more importantly, have brand guidelines to follow. However, its more relevant to clients who want to be in a location for 5 years or more.
Based on our experience and interactions in recent times, we thought to pen down those key differentiation and the perspective, which we believe will help decision-makers in organisations , with respect to office space in Bangalore.
1) Type of business:: Client Interfacing or Back-end operations/development
2) Clients to perceive.
3) Culture of the organisation
4) Productivity Enhancers / Enablers
5) Talent Pool availability
6) Proximity & Access:: with respect to Workforce and Clientele.
7) Finances
8) Enable to Network
9) Sense of security
10) Brand feel / Office culture / Age
11) Long term plans
12 ) Brand Identity
In today’s world the results on the choice of workplace is also driven on two critical variables–
– Being practical, financially-driven variables
– Experiential and culturally-driven variables.
With cash flows being critical for any business whether bootstrapped or funded, it’s important in today’s world to be extremely be realistic while ensuring the company’s culture and the image are upheld. It’s rightly said ” Culture eats Strategy for breakfast”.
Co-working & Private offices help smaller organisations being independent and support in enabling network and maintain aesthetics, while Independent offices give flexibility in creating your own culture and enable building your brand & presence in the market which is lesser in cost on a like to like basis
In today’s situation, whether a startup or a mature organisation, taking informed decisions ensures sustainability and strengthens your brand, while ensuring better control in cash flows. I hope the above inputs help to enable the same. For any further detailed inputs, feel free to reach out to us and our team would be more than happy to assist….. We are just a call away.
Saji George
A self motivated professional with over 26 years of progressive experience in effectively building and managing a business Unit. Proven track record in breathing life and efficiency into the business operations handled across geographies, states. Specialties: Effective Start ups , Key Account Management and Distribution, Process oriented and Systems Build up to bring effectiveness and efficiency in the operation,