Coworking Spaces or Offices on Rent in Mumbai?
Coworking spaces in Mumbai have gained in popularity at an increasingly fast rate where many have opted to leave the “coffee shop” and even opt out of the more traditional office space for rent, to instead select a coworking space in Mumbai.
There are plenty of reasons why one would choose a coworking space over an office on rent in Mumbai, here are some of the common reasons why a company may opt for a coworking space in Mumbai… The company:
Consists of just few people to usually no more than 7-8.
Requires ready to move in office space with all the amenities.
Needs the office space for rent now.
Cannot commit to a lock-in period.
Does not want to pay for a deposit.
Unsure of future growth.
Cannot afford a private office space for rent.
There are plenty of other reasons, but from our property sites’ experience aggregating coworking spaces in Mumbai and speaking the hundreds of seekers of coworking spaces in Mumbai, the above eight reasons listed above are generally why many opt for coworking spaces over an office on rent in Mumbai. Let’s briefly touch over the points listed above.
The cost of a seat at most coworking spaces in Mumbai ranges from 8,000 rupees a month to up nearly 20,000 rupees depending on the quality of the office space, the commercial building and the location. If you have a firm of just a few people then it makes sense to pay the cost per seat instead of getting into a long lock-in period of one to two years for a more traditional office space for rent lease – however, once the firm gets to a certain point in terms of employees, it becomes far less expensive to go with the office space for rent in Mumbai over a coworking space even when considering a deposit and the lock-in period. So, in short, when looking at all costs, it’s relatively inexpensive for a smaller firm to choose a coworking space in Mumbai over a larger firm; whereas, it’s generally more expensive for a larger firm to decide on a Mumbai coworking space over an office for rent. Do note though, that coworking spaces will offer discounts to larger firms that require more seats in one deal (call it fifteen to twenty people plus), but if your firm has enough employees an office on rent would likely be a prudent use of your money.
Now sometimes, time is more important than money (not often in India, but it does happen!) where a company needs to move in immediately to an office space for rent that has all the amenities – the company’s employees just have to show up and can get right to work within a few minutes – coworking spaces offer this benefit. For a normal office space for rent in Mumbai, even if it’s fully furnished, it would take minimum a few days to a few weeks to get all sorted from internet to required changes to the office space for rent etc.
And lastly, many companies, especially “start-ups” have no idea how fast they will grow (and perhaps how fast they will shrink) so choosing a coworking space is the perfect option given the flexibly that comes with most of the arrangements for coworking spaces in Mumbai. More specifically, an individual/firm can sign up month to month where that is not possible for a leave and license agreement for offices on rent in Mumbai.
We’d be interested to hear your thoughts on coworking spaces in Mumbai vs. office spaces in Mumbai.
At the end of the day, our commercial property site, Jagaha.com, is committed to connecting businesses with the perfect commercial spaces for their companies to flourish whether it’s a shop, a coworking space or an office on rent in Mumbai. Take a look at any of the properties in Mumbai on our commercial property site form coworking spaces in Mumbai to office spaces for rent in Mumbai and if you require more information, do let us know and we will assist you in finding the ideal commercial space for your business to thrive.
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