Rise of Co-working Space - Cube Room

The era that we are currently living in, the work culture has changed and evolved rapidly. More and more individuals want to work at their own pace and are adopting a much more flexible and agile work culture. The ubiquitous ‘coffee shop entrepreneur’ has migrated from their home office to their nearest cafe and now into co-working spaces. 

The expansive growth and popularity in this segment has envisaged a ‘third way’ of working, halfway between the ‘traditional’ office set up and independent life of a freelancer; where the individual is based at home. 

Here we taken a deep dive into the few reasons that are contributing towards the rise of co-working spaces: 

1. No-Upfront Investments – Co-working spaces give a chance not only to start-ups but also to large enterprises to grow their teams and retain their intellectual property (employees) without having to spend hefty amounts of money on infrastructure, locked-in leasing costs, operational costs and facilities

2. No long-term Commitments - why using shared work-spaces, businesses can reap the benefits of getting a full time office by just having to pay for the number of seats occupied. You have the flexibility to decide your own hours, upscale and downscale according to your needs. Should you wish to travel for work purposes, you wouldn’t have work in a coffee shop. Cube Room is an aggregator for co-working spaces. You can easily find the right co-working space that suits your needs and budget

3. Millennial Driven - Individuals using co-working spaces vary across demographic and economic segments but Millennials are the most prominent group. A healthy work-life balance and indifference to corporate hierarchy are common sentiments among this segment. These sentiments directly correlate to the rise in demand for co-working spaces 

4. Plug-n-Play Setup - Unlike traditional office set-ups where it may take businesses anywhere from a few weeks to a few months to become fully operational, the plug-n-play set up of co-working spaces allow any business to start fully operating from day one 

Innovation in technology, changes in attitude towards the traditional office set-ups, collaborative

layouts, scalability, short-term leases with cancellation rights, low overhead and minimal

capital investment are all aiding in the increasing demand of co-working spaces.