There aren’t any coworking spaces in Bangalore that are not exciting. Every other space is equipped with cool looking furniture, a vibrant café and full of high-energy millennial crowd.
But what should you know if you’re a startup founder or a freelancer looking for a coworking space in Bangalore for your dream venture?
Holistically, you should make sure the space that you choose is helping you grow your business.
Though this is a widely discussed topic, we are looking at the specific aspects of coworking spaces in Bangalore that needs to be prioritized when you’re on a space hunt.
1. What is your priority?
Priorities vary across organizations when they are looking for coworking spaces. Some want spaces that put a lot of importance on the networking opportunities, whereas some others might go for a less expensive one.
Let’s dig a little deep into the major priorities among companies while they are on a workspace hunt.
Cost is a major concern for many. Especially when you are just starting out and looking for ways to streamline your revenue.
There are many coworking spaces in Bangalore that offer really affordable plans for startups. You can even get started at Rs. 4900 per seat.
Opting for such an economical space would leave you with less overhead costs.
Some companies might want to go for an attractive workplace even when the cost is high. There are coworking spaces in Bangalore that come with contemporary office furniture and high-end office supplies.
Companies who put a lot of importance on the work culture and employee well-being can opt for spaces like these.
Office location is a top concern for many companies looking for work spaces. The cost factor is also closely related to the location that you pick. A less popular location might fetch you workspaces at a better cost.
Companies mostly choose office locations based on accessibility and proximity to other businesses. Location is a major factor to be considered if you are looking for a coworking space in Bangalore.
Networking opportunities are a major plus of many coworking spaces in Bangalore. This will help companies in finding clients as well as talent.
There are many spaces where they conduct networking events and workshops regularly. If you are looking to expand your connections, this is something that you need to have on top of your list.
Apart from all the aspects mentioned above, there are companies that give importance to space customization options and amenities like PC rental.
However, these are the top things that you need to prioritize based on your requirement.
2. How much are you willing to pay for coworking in Bangalore?
Just as we discussed above, you should really have the price aspect on top of your mind if you’re still in the process of streamlining your revenues.
Bangalore has multiple options in terms of coworking pricing. At our Hosur Road center, you can avail a coworking desk for just Rs. 4900 per month.
Whereas if you move to some of the centers in MG Road or Residency Road, the prices can be seen around Rs. 8,900 to 14,900 per seat.
The pricing aspect will depend on many factors.
One of them is the type of space that you opt for. Majorly, there are 3 types of coworking plans available in Bangalore. They are flexible desks (hot desks), dedicated desks and private cabins.
Flexible desks that allow you to make use of any available space at a center comes at a lower price when compared to dedicated seats and private cabins. If you want more convenient options like a dedicated desk or a private cabin, you will have to pay more.
Also, there are coworking spaces that come with premium amenities like high end office supplies, fruit infused water, an in-house gourmet café, games zone and luxurious lounges.
Depending on your budget, you can opt for a space that has all the required amenities.
3. Top coworking locations in Bangalore
Koramangala in Bangalore is one of those lively business neighborhoods. There are multiple companies and coworking spaces located around this area.
Some of the popular coworking spaces in Koramangala are located close to Hosur Road and has many restaurants, hospitals and shopping areas around.
HSR Layout is another popular location known for coworking spaces. There are multiple spaces operating in this area with a wide variety of options to choose from.
HSR Layout is also known for its shopping areas, restaurants and business establishments. HSR Layout offers good connectivity to areas like Outer Ring Road, Hosur Road, Koramangala and Silk Board.
MG Road is a more prime area when compared to HSR Layout. There are many providers offering coworking spaces in MG Road and around. The per-seat pricing in this tend to be a little higher when compared to other areas.
The location is well connected by the Bangalore Metro Rail as well.
Whitefield already has a lot of coworking spaces and new ones are getting opened every month. As Whitefield is already known for many business parks, it is quite a good location for any business today.
Coworking spaces in Whitefield will be convenient for people to access from areas like Marathahalli, Kundalahalli Gate, ITPL etc.
4. Utility vs. Luxury
This is a point that we want to throw some light on. It is quite confusing when there are many coworking spaces to choose from in your preferred location.
But, for any company, it is important to have a clear understanding of what’s needed and what’s not. The same is very much applicable when it comes to work spaces.
If your startup is bootstrapped and want to utilize all resources to the maximum, you might want to focus on the utility part in coworking spaces. That means, you can just avoid having a luxurious lounge, a gourmet café or maybe some fruit infused water.
At the same time you might want to focus on, good internet connectivity, 24×7 accessibility, housekeeping, easy upsizing & downsizing and most importantly the price.
Basically, look for a space that can get you all the essential amenities at a great price.
On the flipside, if you are a funded startup and have a lot of money to spend on the infrastructure and well-being of employees, get a coworking space setup that your employees will never want to leave from.
End of the day, you need to find the right balance between utility and luxury to get the best workspace for your business.
5. Rental & Agreements
One of the main advantages of coworking spaces is its easy rental terms and agreements. Normally, whenever you rent out an office space, you will have to agree to the lock-in and deposit terms.
But for startups, flexible lock-in and deposit terms will be a huge blessing. Many coworking spaces have this feature where they offer flexible or no lock-in period and the company can leave the space on a very short notice.
Moreover, some coworking spaces have plans like daily pass or weekly pass that you can utilize only when there is a requirement. This will help companies to cut down a lot on their monthly rental amount.
6. Special arrangements
Apart from all these facilities mentioned above, some coworking spaces do offer custom amenities. These include features like server space, PC rental, dedicated meeting rooms, partner privileges etc.
Also, many coworking spaces in Bangalore allow their tenants to utilize spaces in other locations as well. So if you travel to some other metro cities in India, you can make use of a space from the same provider there.
7. Space Customization
Work space customization as a feature is gaining more importance among coworking spaces as well as tenants. Companies are more than happy with customizable spaces that are just right for their team. Mostly, custom spaces help companies to save space and money, this is exactly why our model at Novel Office is solely focused on space customization.
Custom spaces allow tenants to get their space layouts planned according to the number of seats and other amenities required. For example, if a startup needs 6 workstations, 1 manager cabin and 1 dedicated meeting room, that can be easily done with our in-house developed customizable spaces concept.
Customizable spaces also facilitate easy upsizing and downsizing of workspaces. So, if you suddenly need to hire new talent, space won’t be a constraint at Novel Office. You can always expand your workspace with the help of our dedicated in-house team.
We customize spaces by following our in-house developed concept called Movable Glass Walls. And with the help of an in-house projects team, we are able to customize the spaces and allow client onboarding in very short period, even as short as 5 days.
Coworking spaces in Bangalore offer a wide variety of benefits and features ranging from luxury lounges to server spaces. The pricing also widely varies from Rs. 4,900 to even Rs. 16,000 for a single seat.
Getting a coworking space is any day better than renting out a conventional office space in a city like Bangalore. However, startups should have a clear understanding of the benefits and facilities that they need in their workspace. And, all this will depend on your affordability and priorities.
Luckily, many coworking spaces in Bangalore offer a free daily pass to explore around. This is a great opportunity if you want to experience a space before making a decision.
So, what would your startup prefer more?
A space with contemporary furniture and luxurious lounges that is priced around Rs. 15,000 per seat or an economy level space that meets all your requirements?
Let us know in the comments.
Networking opportunities, Cost saving over traditional office spaces, flexibility, and opportunities for gaining new business leads are among some common reasons for an individual to choose a coworking space.
Coworking spaces emphasize networking, collaboration, and connection building. Locations can make or break deals for a startup or a freelancer. Choosing a coworking space that is located in a business hub or central business district of a city adds credibility and adds to your brand value.
Flexibility of access at multiple locations and 24×7 hour access are among few additional values that you can/may receive in a coworking space.
The leasing options of a coworking space are different from traditional offices on the following basis:
- Terms of Occupancy – Duration (term) of a conventional office can average from 3 years to (3+3+3) years, whereas coworking spaces have monthly, daily (hot desks) and even hourly terms.
- Lock-in Period – Conventional offices can/may have a fixed lock-in period, whereas coworking spaces don’t have lock-in periods and rarely exceeds the 1-3 months if any.