Shared Office Space Bangalore, Shared Office Space in Bangalore,

The cosharing culture

The new sharing economy is changing the way business has traditionally been done across industries. The commercial real estate industry is no exception. Just like Uber and Lyft have disrupted the hired car industry and Airbnb is upsetting the hospitality industry, the trend of coworking, or shared office space, is revolutionizing commercial real estate.

Cosharing is changing the face of the traditional office

Cosharing is the wave of the future. In fact, some say it has already become a fixture in the commercial real estate market. The numbers are impressive. For example, in June of 2015, WeWork, New York City’s largest commercial real estate tenant and a leader in the office space for entrepreneurs, received a valuation of $10 billion. A recent survey of over 200 major commercial real estate organizations found that 40% are considering coworking spaces. There has been a proliferation of cosharing spaces and enablers in the United States, Europe and Asia.

As stated in a recent article by the CEO of Kinglet Alex Kopicki, “The number of co-working facilities across the globe has nearly doubled every year for the past five years. Small Business Labs projects that more than 12,000 global co-working spaces will exist by 2018 with over 1 million members.” Numerous countries including India are seeing its own cosharing boom take place. Plug and playoffice space like StartUpHuts in Bangalore are changing the face of the traditional office. A number of factors have contributed to this trend. Technology has enabled companies to be more paperless and flexible. The downturn in the economy has created a rise in small businesses and individuals working from home and coffee shops. As these workers and businesses mature, cosharing spaces are becoming increasingly attractive. Additionally, the culture of millennials is well-suited for this type of environment. As the New York Times said, “it’s an office utopia designed for Millennials.”

Aside from offering the brick and mortar essentials of an office space, coworking space inBangalore provide a place to socialize, meet interesting professionals and expand professional networks. These spaces give a sense of community to professionals who are otherwise isolated at home or in coffee shops. They offer the convenience of short-term commitment, with some spaces offering rentals on a daily or even hourly basis. Moreover, these spaces are hip, with modern décor and luxuries ranging from gourmet coffee and organic snacks to pool tables, arcades, and sleek break spaces such as a music room curated with vinyl records and spin tables.