The year 2005 witnessed the sprouting of the coworking spaces and since then the workspace preference of the business setups and office owners are increasingly shifting towards the coworking and other alternative workspaces from the traditional offices.
The end of 2018 saw massive growth in the coworking industry and the drastic increase in the number of coworking spaces added to the booming coworking pool. There are several surveys which are being conducted and they show that 80% of the operating coworking spaces operating in India have earned higher revenues as compared to the last financial year and have become profitable. A research study has been conducted which involved 100 countries including India across the globe and the findings revealed that the 74% of those who have been interviewed from India have responded that the coworking spaces are absolutely inspirational workspaces for them.
One amongst the several visible triggers which are primarily stimulating the massive growth of the coworking spaces is that they are comparatively much cost-effective as compared to the traditional offices. The existing members of the coworking spaces will certainly help in attracting more members as the coworking spaces would evolve as one of the combined and common workspace with several facilities like an entertainment centre, coffee shop & also feel-at-home experience.
Coworking spaces across India majorly use pay-per-use model that helps the coworking space owners to have more and more revenue streams besides the major revenue inflow coming from the desk rents.