THE BHAWANIPUR EDUCATION SOCIETY COLLEGE

BBA SEMESTER VI 2021 – 22

Cover Page/ Title Page

Project Report
(Submitted for the degree of B.B.A Honours under the University of Calcutta)

TITLE OF THE PROJECT

A study on the Consumer Perception and Awareness on
Coworking Office Spaces in India.

SUBMITTED BY

Name of the Candidate: Ena De

Registration No.: 017-1211-3770-19

C.U. Roll No.: 017-BBAS-19-1-0014

Name of the College: The Bhawanipur Education Society College

College Roll No.: 3

Supervised by

Name of the Supervisor: Chiranjib Mitra

Name of the College: The Bhawanipore Education Society College

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 ACKNOWLEDGEMENT

It is a matter of great pleasure to present this project on

“A study on the Consumer Perception and Awareness on Coworking Office Spaces in
India.”

I take this opportunity to thanks our respected Director General Sir PROF SUMAN
MUKHERJEE for giving me an opportunity to work on this field.

I am eagerly grateful to our Head of the Department PROF TRIDIP SENGUPTA without whom
this project would not have been successful one.

I am very thankful to my Supervisor PROF CHIRANJIB MITRA for his full support in
completing this project work.

Finally, I gratefully acknowledge the support of my family/friends/ who had given me full support
and co-operated with me to carry out these research work and help with me for the project work.

Ena De

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 THE BHAWANIPUR EDUCATION SOCIETY
COLLEGE BBA SEMESTER VI 2021 – 22

Supervisor’s Certificate

This is to certify that Ms. Ena De a student of Bachelor of Business Administration of

BHAWANIPUR EDUCATION SOCIETY COLLEGE under the University of Calcutta
has worked under my supervision and guidance for his/her Project Work and prepared a
Project Report with the title “A study on the Consumer Perception and Awareness on
Coworking Office Spaces in India.” Which she is submitting, is his genuine and original
work to the best of my knowledge.

Signature:
Place: Name:
Date: Designation:
Name of the College:

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 THE BHAWANIPUR EDUCATION SOCIETY
COLLEGE BBA SEMESTER VI 2021 – 22

Student’s Declaration

I hereby declare that the Project Work with the title “A study on the Consumer Perception
and Awareness on Coworking Office Spaces in India.”

Submitted by me for the partial fulfilment of the degree of Bachelor of Business

Administration under the University of Calcutta is my original work and has not been
submitted earlier to any other University /Institution for the fulfilment of the requirement for
any course of study.

I also declare that no chapter of this manuscript in whole or in part has been incorporated in
this report from any earlier work done by others or by me. However, extracts of any
literature which has been used for this report has been duly acknowledged providing details
of such literature in the references.

Signature:
Name:
Address:
Registration No.:

Place:
Date:

TABLE OF CONTENTS
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S. Contents Page No.
NO
1) Introduction 6-16

2) Literature Review 17-21

3) Scope of the Study 22

4) Research Objectives 23

5) Research Methodology 24-25

6) Limitations of the study 26

7) Data Analysis and Findings 27-36

8) Conclusion 37

9) Recommendation 38-39

10) Bibliography 40

11) Annexure 41-43

INTRODUCTION

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Coworking Space and its rise in demand:-

Coworking is not just about the sharing of infrastructure and cost, it is about belonging to a
community, accessibility and sustainability. Coworking is the new way of working and
sharing. Coworking spaces are designed to provide a productive and collaborative
environment for their dynamic inhabitants, and created without corporate constraints on what
is perceived to be an “office” environment offering flexible memberships to suit most needs.

Coworking is a social gathering of a group of people who are still working independently,
but who share values and who are interested in the synergy that can happen from working
with people who value working in the same place alongside each other. It is a type of work
that includes “the use of an office or other working environment by people who are self-
employed or working for different employers, typically so as to share equipment, ideas, and
knowledge”.

Due to the increasing number of start-ups companies in India there is going to be a huge
demand for Co-working spaces. In co-working spaces, people can work together and have all
the facilities of an office without owning the place or owning the equipment such as Wi-Fi
connection, pantry, printer, ac etc. all these amenities are provided by the co-working spaces
company. This reduces the fixed cost and allows easy set-up of an office. Thew best part
about co-working office spaces is opportunities in networking and meeting with like-minded
people.

Also, such a work-environment, gives the person a boost to work and have a 9-5 routine.
During the pandemic, there was a tremendous increase in work-from-home jobs, but for in
home, there are lot of distractions and the person often misses the social connectivity with

other people. Co-working office spaces solves that problem. When entrepreneurs have to
start in the beginning of their journey, they cannot afford to rent a full-fledged office, so
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this kind of coworking spaces are affordable and accessible to them to have a place and get
their team working.

Coworking is a business services provision model that involves individuals working

independently or collaboratively in shared office space.

The typical user of a coworking facility is self-employed, a telecommuter, or a freelance

worker. Some businesses use the spaces to provide employees with equipment, space and
services that they could not otherwise afford. Larger enterprises sometimes use coworking
facilities to provide office space when they have more than the normal number of employees
working at any given time. In this case, the business may maintain a certain number of
memberships to the coworking service.

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Facilities of Coworking Space:-

The owner of the space provides a work environment and, usually, office equipment and
amenities found in a typical office. Typical features of coworking facilities include:

 Shared work spaces.

 24/7 access.

 Reservable/rentable conference and/or board rooms.

 Wi-Fi.

 Communal printer/copier/fax.

 Private branch exchange (PBX) systems.

 Shared kitchens, bathrooms and lounges.

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Coworking facilities follow various business models. Some facilities, for example, are
cooperatively managed spaces run as non-profit organizations. Such organizations may
charge members just enough to support operations. Other models include flat-rate
memberships and fee structures based on access for a single visit or a certain number of days
per week, month or year. Often, a coworking facility will offer a number of options to suit
individual needs. Some organizations have multiple locations that members can access.
Others provide “coworking visas” that provide free access to partnered facilities in different
locations.

Real estate frequently acts as a constraint for entrepreneurs. Traditional office space is often
too expensive, especially for entrepreneurs with few if any resources at hand. In addition,
traditional office spaces typically require tenants to sign multi-year leases, often a 3 to 5-year
minimum commitment. Given the nascent and unpredictable nature of new ventures,
entrepreneurs are understandably hesitant to make such long-term commitments, as it is
impossible to know how quickly they will grow and need to upgrade their office space, or
whether they will even be in business after a few months.

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As a result of these challenges, many entrepreneurs opt to start in a home office, dorm room,
kitchen, or garage. Yet, while these spaces are inexpensive and convenient, they are also
limiting in that they do not provide an ideal space to manage a team of employees or host
clients. In addition, entrepreneurs working at home also tend to experience loneliness and
feelings of isolation, which amplify the emotional ups and downs of founding a new venture.

In the past decade, however, a relatively new and promising phenomenon has emerged. I
refer to coworking spaces, or subscription-based workspaces in which individuals and teams
from different companies work in a shared, communal space. The coworking business model
is essentially rental arbitrage.

Coworking companies (1) rent buildings from property owners under long-term, multi-year
leases, (2) transform the space by adding common areas, cafés, and other community-
oriented features, and then (3) rent the space out more fractionally to tenants at significantly
higher prices and under more flexible lease terms, such as month-to-month. These tenants
typically include entrepreneurs, freelancers, remote workers, and other independent or non-
traditional workers who cannot otherwise afford their own office space. In addition to
providing workspace, coworking also offers a community of other entrepreneurs, all working
separately on their own ventures, but working together in the same location. Overall,
coworking represents a new organizational form and business model innovation, and
provides unique solutions that are only possible due to the concentration of entrepreneurs in
one physical space.

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Importance of Coworking Space

Drive innovation
Because co-working spaces are conducive to creativity and idea sharing, they are ideal work
environments for innovation, engineering and R&D teams. The dynamic energy and start-up
vitality present in co-working spaces support efficient product or process development,
enabling businesses to generate and commercialise ideas quicker to gain a competitive
advantage in the marketplace.

Build community
At its core, co-working seeks to create strong communities and foster synergies, adding
greater value to everyone who participates in the scheme. The dynamic energy of these

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spaces helps people to feel like they are part of something larger than themselves and that
others care about their success and want to help propel their ideas forward.

Optimise productivity
Co-working spaces are highly productive when compared to employees working on their
own. Eighty-four per cent of individuals surveyed in a 2015 study of 1,500 co-workers in 52
countries reported they were more engaged and motivated since joining their co-working
community, 82 per cent cited an increase in the size of their business network and 83 per
cent reported a decrease in their sense of isolation.

People often say they prefer to work in coworking spaces because they believe that their
performance will improve more rapidly than in a traditional office environment or at home.
They cite factors such as built-in peer accountability, a fast-paced environment and flexible
amenities as key elements which contribute to their productivity. Co-working spaces also
allow individuals control over their work environments, enabling them to choose how, when
and where they work.

Improve space utilisation

Co-working strategies can lower a company’s real estate costs and provide greater flexibility
in procuring and managing space. As a business strategy, co-working can be more cost-
efficient than creating dedicated office space in certain markets with a large percentage of
highly mobile employees.

For businesses seeking to quickly enter new geographic markets, co-working also provides a
more efficient alternative to planning, designing, constructing and relocating to a new

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permanent office space. When Amazon initiated a strategic expansion into the Boston market
in 2012, for example, the online retailer opted to lease space at CIC Cambridge, a co-
working community located in the heart of the city’s technology hub.

The space served as a temporary outpost for Amazon until the company could build out a
permanent local office location. Even after the build out, CIC Cambridge continued to
provide overflow space to Amazon, as necessary, to accommodate the company’s local
growth. As the structure of work becomes less fixed to a particular time and place, the
traditional CRE model of assigning all employees to particular spaces and assigned desks in
a single building is increasingly viewed as an unproductive investment.

Because a significant percentage of workspace in a typical corporate office setting is vacant

at any given time, co-working represents a logical strategy for improving space utilisation
and overall efficiency.

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ADVANTAGES OF COWORKING SPACE

The continued rise of coworking spaces in cities all across the world is driven by a bunch of
different factors. Some of them are economic. The 2008 financial crash led to a boom in
newly self-employed entrepreneurs and freelancers, many of whom needed someplace to
work and collaborate that wasn’t their own living room.

The COVID-19 pandemic shook things up again, accelerating the work-from-home trend
as social distancing restrictions put the brakes on returning to the office. Now, as workers
demand more flexibility in how and where they do their work, the traditional office is being
reimagined as a collaboration hub, a creative space, and a hybrid workplace.

Coworking space can be a lifesaver for individual workers, but it also plays a big part in any
company’s strategy to shift toward a more flexible way of working. Let’s take a look at some
of the main advantages of coworking spaces.

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 Greater flexibility. Most coworking spaces don’t require you to commit to a long-
term contract. Instead, freelancers and start-ups can take advantage of shorter leases
and flexible pay-as-you-go terms, which can help keep things affordable for young
companies just starting out.
 A sense of community. Coworking was created to help early web entrepreneurs
escape the drudgery and isolation of working from home, and while they’ve evolved
to fulfil a much wider range of roles, they’re still very much social spaces at heart. A
coworking space connects you with a group of like-minded professionals.
 Frictionless networking. This goes hand-in-hand with the community aspect of
coworking spaces we mentioned above. When you share a physical space with
workers from your own industry and beyond, you unlock potential opportunities, build
strong relationships, and develop lasting connections with new people.
 Boosted productivity. Sharing a coworking space with a bunch of driven and focused
co-workers is a sure-fire way to enhance your own productivity. Not only is it more
difficult to slack off when someone else is around, but physically traveling to a space
that’s dedicated to working helps to regiment your schedule.
 More creativity. We’re more creative when we’re around other people. Whether
you’re working in a creative industry or you simply need a creative solution to a tricky
problem, chatting with friends and colleagues helps kick-start new thought processes
and introduce perspectives and ideas you hadn’t considered.
 Lower costs. One of the main benefits of a coworking space is greater cost-efficiency.
By sharing things like office facilities, reception services, internet, and printers with
employees from other companies, businesses on a tight budget can avoid service
charges and cut out many of the usual overheads associated with a long-term real
estate lease.

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 LITERATURE REVIEW

Current literature suggests that nonstandard forms of employment have become

commonplace within a highly individualised labour market in which urban professionals
work as a casualised, project-based and freelance workforce. This raises the question of the
extent to which knowledge workers are encouraged in finding new ways to live a nomadic
and precarious work life in this fragmented professional context. (Cappelli and Keller,
2013; Osnowitz, 2010).

As outlined by Pratt (2002), the San Francisco Peninsula was one of the leading areas in new
media production in the early 2000s as a result of a ‘hybrid’ infrastructure of interaction able
to connect technologies, spaces and people. Pratt notes that San Francisco, located at the end
of the Silicon Valley with a high concentration of technology industries and hardware
companies, satisfied the requirements of a contemporary ‘product space’. This was due to an
efficient socio-spatial division of labour and cultural ambience naturally entailed into a
‘bohemian’ environment – a vibrant culture infused with political activism and socially-
organised work patterns based on social networks and tacit or shared knowledge (Pratt,
2002). Since inception, the idea of coworking has quickly spread to become, ultimately, a
‘trendy topic’ bearing huge expectations concerning the future of knowledge work.

Johns and Gratton for instance, define coworking as the ‘third wave of virtual work’
(2013: 1), that seeks to restore ‘co-location’ in the digitalising mode of production where
tasks can be performed anywhere, anytime.

A proliferation of coworking initiatives and ventures can be currently witnessed in different

cities worldwide, for a somewhat self-proclaimed ‘coworking movement’ that now aligns
with other similar ‘trendy’ concepts which flourished in the post-crisis economy, such as
‘startups’, ‘social innovation’ or ‘sharing economy’ (Botsman and Rogers, 2011).

Moriset’s (2014) exploratory study reports an overall number of 2,498 mapped spaces
worldwide. This appears to be just a downward estimate since a growing number of
businesses of different sorts are currently opening coworking ‘sections’ within their

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activities, indeed without formally registering as coworking spaces. In his work, coworking
spaces are epitomised as ‘third places’ between home and work. He argues that coworking is
a global phenomenon that maintains strong local roots, as it frames into policies which point
towards the emergence of creative districts around urban environments – and casts a light on
the risks of a possible ‘coworking bubble’, given that the profitability of these initiatives is
often still low (ibid.).

Though coworking holds considerable promise, the concept is still relatively new. Mostly
unheard of ten years ago, the global number of coworking spaces has grown dramatically in
recent years. For example, the Global Coworking Survey (Deskmag, 2019) estimated that
only about 160 coworking spaces existed worldwide in 2008, whereas in 2018 there were
close to 19,000. As entrepreneurs (especially millennials) flock to these spaces in droves,
investors have taken notice.

Many of the world's largest landlords are investing heavily in these spaces, as they have been
one of the “few bright spots in the office-market during the economic recovery,” making
them “one of the few sources of demand” (Wall Street Journal, 2018).

As coworking has become more popular, countless entrepreneurial websites, blogs,

magazines, and other news sources have addressed the recent trends in coworking and
discussed what it might mean for entrepreneurship and the future of work. Overall, many
consider the rise of coworking to be one of the most prevalent trends in
recent entrepreneurial activity (Kreamer, 2012).

Despite the explosive growth of coworking, very little academic research addresses how this
new organizational form might (or might not) assist entrepreneurs in structuring their social
relations. One recent exception is Clayton et al. (2018), who provide a discussion of how
various support organizations (including coworking spaces) advance the commercialization
of science. These authors suggest that coworking spaces provide services that complement
those of other intermediaries within entrepreneurial ecosystems. However, they also note that

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“research on the contribution of co-working spaces to science entrepreneurship is limited
thus far”, and that “future empirical work will be important for this field” (Clayton et al.,
2018:111).

The little research that directly addresses coworking has largely been performed by Spreitzer
and colleagues (Spreitzer et al., 2015a; Spreitzer et al., 2015b; Garrett, Spreitzer, and
Bacevice, 2017).

Two of these studies are published in practitioner journals and focus on the job satisfaction
of freelancers in coworking spaces (Spreitzer et al., 2015a) and advising large corporations
if coworking is right for them (Spreitzer et al., 2015b). Spreitzer et al., 2015a find that
freelancers thrive in coworking spaces because they see their work as meaningful, have more
job control, and feel part of a community.

Spreitzer et al., 2015b, in contrast, focus on how large corporations can benefit from
coworking, finding it can help employees tap into new ideas, reduce real estate costs, and
improve employee job satisfaction. Although these studies validate the coworking
phenomenon as a new organizational form and provide valuable insights to practitioners,
they focus exclusively on the coworking experiences of freelancers and remote workers,
rather than entrepreneurs.

Their third study (Garrett et al., 2017) explores the formation process of a coworking space
in the Midwestern United States. Through qualitative interviews, they identify three
important types of collective actions (endorsing, encountering, and engaging) that
contributed to a sense of community within the coworking space.

However, the authors readily acknowledge the limited data and scope of their study, and
express hope that future studies will explore “the growing trend of coworking”
(Garrett et al., 2017:839).

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A handful of conceptual studies also discuss the implications of coworking (Bouncken and
Reuschl, 2018; Parrino, 2015; Spinuzzi, 2012). For example, Bouncken and
Reuschl (2018) develop a conceptual model of coworking that assumes entrepreneurial
performance is improved by the learning process among coworking users.

Similarly, Parrino (2015) discusses how physical proximity in coworking spaces might lead
to knowledge exchange. In addition, Waters-Lynch and Duff (2019) explore the "sense of
ambivalence" found among peers in coworking spaces, and suggests that coworking spaces
act as an "affective commons." In a more recent study, Resch et al. (2021) apply a Lacanian
framework to collaborative work in coworking spaces, and theorize how this trend is
underpinned by affect-laden fantasies of community-driven cocreation. While these studies
offer valuable insights into some of the micro processes of individuals in coworking spaces,
they are primarily limited to anecdotes or conjectures, and often end by calling for more
empirical research on the coworking phenomenon.

Though few studies examine the coworking phenomenon directly, some studies examine it
indirectly by collecting data on entrepreneurs within coworking spaces to answer other
research questions (e.g., Vandor and Franke, 2016; (Giudici, Combs, Cannatelli and
Smith, 2020); Engel et al., 2019; Kollmann et al., 2019). For example, Vandor and
Franke (2016) study whether the cross-cultural experience of entrepreneurs affects their
ability to recognize opportunities, and do so using a sample of entrepreneurs in two
coworking spaces.

Another example is Kollmann et al. (2019), who study the work habits of entrepreneurs
using a sample of entrepreneurs in various coworking spaces in Germany. These studies use
coworking spaces simply for sample selection, and the research questions do not focus on
coworking itself or its implications for entrepreneurs.

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Though not specific to coworking, other relevant literature addresses how social interactions
at work affect individual, team, and firm performance (Hasan & Koning, 2019; Chan et al.,
2014).

In particular, prior studies suggest that spatial proximity is one of the main drivers of peer
effects, and that individuals located near each other are more likely to form social ties and
share information (Marquis, 2003; Rosenkopf et al., 2001; Stam, 2010). This effect has
been shown at various levels and scales, including in the same room (Boudreau et al.,
2017), same buildings (Allen and Cohen, 1969), and same region (Agrawal et al., 2017).
Social theory pays particular attention to social foci – a “social, psychological, legal, or
physical entity around which joint activities are organized (e.g., workplaces, voluntary
organizations, hangouts, families, etc.)” (Feld, 1981: 1016). These foci provide members
with occasions for structuring their social relations, and can bring together people who
otherwise would remain unconnected. Coworking spaces represent a new type of social foci,
and one that is worth studying.

Overall, while these studies once again validate coworking as an increasingly important and
new organizational form, we lack an in-depth exploration of the coworking movement and
its implications. This paper takes steps to address this gap.

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 SCOPE OF THE STUDY

This study takes an exploratory empirical approach with the goal of shedding light on the
current landscape of coworking. By so doing, I provide an initial foundation for research on
the coworking movement in entrepreneurship and the various research streams it can enrich.

Due to its prevalence, popularity, and potential for disruptive change, coworking is
increasingly relevant to theory, practice, and policy in entrepreneurship, yet its implications
are largely unstudied given the rapid rise of the phenomenon.

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 RESEARCH OBJECTIVES

The purpose of research is to discover answer to question through the application of

scientific procedures. The aim of research is to find out the truth which is hidden & which
has not been discovered yet.

However, each research study has its own specific purpose. There are several common
objective of research as follow:-

 To determine consumer behaviour towards coworking space in India

 To find out why people prefer to work in a coworking office.
 To find out why there is an increase in coworking office spaces in India.
 To find out what influences customers to rent coworking spaces in India.
 To find out how coworking space providers can improve themselves to meet and
exceed the customer’s expectation in India.

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 RESEARCH METHODOLOGY

1. Data is raw, unorganized facts that need to be processed. Data can be something
simple and seemingly random and useless until it is organized. When data is
processed, organized, structured or presented in a given context so as to make it
useful, it is called information.
2. The Research Methodology that has been adopted is a mixture of qualitative and
quantitative research. Qualitative Research are that kind of research which consist of
non-scaled data, when we are structuring a person’s attribute, personality, behavioural
traits which can’t be scaled that provide a person understanding about any incident or
product. Quantitative research consists of scaled data which can be changed,
structured, processed and can be converted into validated information.
3. The scaling technique that has been adopted is a combination of parametric and non-
parametric scaling techniques. Parametric Scaling Techniques consists of nominal and
ordinal scale and non-parametric scaling technique consist of interval and ratio scale.
In this project only nominal, ordinal and internal scale has been used along with Likert
scale.
4. In this project the research design that has implemented and framed is a combination
of exploratory and descriptive research design. We are not using causal research
design because we are not framing any cause-and-effect relationship.

It is an exploratory research design because in some horizons we are exploring

unknown problems and trying to figure out the solutions. It is also descriptive research
because we are describing some of the known problems for a better understanding and
to get accurate and noise free results.

1. SAMPLE SIZE - 108

2. SAMPLE UNIT- The people who are in the age group of 20 to 35 who is employed.

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3. STATISTICAL TOOLS - pie chart

4. STATISTICAL SOFTWARE- Ms Excel, Ms Word.

The questionnaire that has been used is a combination of open ended and close ended
questionnaire.

LIMITATIONS OF THE STUDY

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 1. There was lack of reliable and available data due to which I had to limit the scope of
my analysis, the size of my sample and it acted as a significant obstacle in finding a
trend and a meaningful relationship.
2. Getting appointment from the concerned person was very difficult.
3. People’s mind set about the survey was an obstacle in acquiring complete information
as the respondents were very busy in their schedule. So, it was very time consuming
for collecting information & for positive interaction with them to answer all the
questions properly.
4. The sample size also acted as an obstacle while doing the project. It took lots of time
to understand what the sample size would be. If my sample size would have been too
small, it would have been difficult to find significant relationships from the data, as
statistical tests normally require a larger sample size to ensure a representative
distribution of the population and to be considered representative of groups of people
to whom results will be generalized or transferred.
5. Time allotted for the project was not sufficient to go for detailed analysis of the
research problem.

Data Analysis and Findings

To study the topic and derive conclusion from the same, I have distributed a questionnaire
which have also helped me in understanding the Consumer Perception and Awareness on
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Coworking Office Spaces in India. For this project I have taken the view of 108 people
based on which I have drawn my inferences. Graphical analysis used facilitates the
understandings and findings. The data collected has been processed and analysed as
follows:

Age of the Respondents:-

INTERPRETATION: The data signifies that the age of the maximum number of
respondents lie in the age group 18-25 years although a sizable number of respondents
belong to the age group of 26-35 years age bracket. The reason for the same were that the
maximum number of people were either employees or students.

Gender of the Respondents:-

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INTERPRETATION: A total of 108 respondents were selected for the survey. Out of them,
71.1% of were male and 28.9% of them were female. The number of male respondents were
77 while the number of female respondents were 31. So, the maximum respondents were
male.

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Current Location of the Respondents:-

INTERPRETATION: Out of the total no. of 108, 48 respondents live in Kolkata, West
Bengal. Apart from Kolkata, the other respondents live in Delhi, Coimbatore,
Bhubaneshwar, Ahmedabad, etc. Thus, we can say from this Data Set that the respondents
live in urban areas.

Current place of Work:-

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INTERPRETATION: Out of the 108 respondents, 50 percent of the respondents work in at
their own office or other places. 21.1 percent work from home, 26.3 percent work at their
employer’s office and 2.6 percent work at a rented office.

Awareness of Coworking Spaces:-

INTERPRETATION:- Out of the total no. of 108 respondents, 88 people say that they are
aware of coworking spaces and 12 people are unaware of coworking spaces. This shows us
that most of the respondents know about coworking spaces.

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Co-activity among Coworkers:-

INTERPRETATION:- Out of the total no. of 108 respondents, 74 people have said that
they like the idea of exchanging thoughts and learning from each other while they are
working. 31 people said maybe they want to if exposed to such coworking environment and
only 3 people have said no. This helps us to understand the need to work in a cohesive and
co-engaging holistic environment where diverse set of skilled people are there who can help
each other grow.

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Group Activity in Co-working Space:-

INTERPRETATION:- Out of the total no. of 108 respondents, most of the respondents
have agreed that group activity is necessary in Co-working Spaces.

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Advantage of Co-working Space in comparison to traditional offices:-

INTERPRETATION:- Out of the total no. of 108 respondents, most people have
highlighted that communicating with others is one of the key advantages in a coworking
spaces. Apart from that sharing of ideas, flexibility of working space and time, cozy
environment and low cost are the other factors of growth in the coworking industry.

Facilities of Coworking Space:-

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INTERPRETATION:- Most of the people have chosen all the amenities which they think
are necessary for a efficient working modern coworking space. The facilities such as Prime
Location, wi-fi, printer, ac, parking, housekeeping, pantry, tea/coffee are important features
that should be there in coworking spaces.

Seating Options of Coworking Spaces:-

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INTERPRETATION:- Out of the total no. of 108 respondents, 56 people have opted for
designated desk with locking drawers as the preferred choice of seating arrangement in
coworking space.

Preferred Mode of Working:-

INTERPRETATION:- Out of the total no. of 108 respondents, 35 people prefer to working
in office, 18 people prefer to work from home and 32 people prefer to work in a coworking
space. Therefore, we say there is rising demand for coworking spaces in India.
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Working in Co-working Spaces:-

INTERPRETATION:- Out of the total no. of 108 respondents,60 people have said they
consider working in a Coworking office space. Therefore, we can justify people are finding
coworking spaces useful and efficient place for working.

CONCLUSION

 Coworking Spaces have emerged as a new and promising phenomenon in

entrepreneurship.
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 Coworking Spaces provide efficiency, flexibility, and legitimacy.
 Coworking Spaces provide connections, solutions, energy/motivation, and
social support.
 Founders, minorities, women, non-market logic, and foreign entrepreneurs
benefit more.
 Coworking is growing and will continue to grow more after the COVID-19
pandemic.

RECOMMENDATION

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Here are my recommendations to revamp Coworking Space economy and increase revenue:-

1. According to post-COVID predictions, demand for workspace won’t disappear, on the

contrary, it is starting to recover already. However, there is a shift toward private
offices that are most commonly requested and dedicated desks that are also needed.
Most companies today use a remote or hybrid workforce. And this won’t change in
2022. At the same time, they are not ready to transfer businesses online entirely. In
some cases, it’s impossible, sometimes not efficient. So, the best options for
companies in the post-COVID period are:

 Smaller private serviced offices for local branches.

 Flex and super flex managed offices for companies using hybrid workforce,

 And dedicated desks for remote employees.

2. Increase Your Margins

There are many effective ways to do it.

 Upsell members with high-margin complementary services to earn more on your low-
margin product, which is coworking.

 If you have a coffee shop at your spaces, members don't need to go for lunch
elsewhere.

 Arrange a service to receive members' mail and packages.

 Offer tourist, business, and work permit visa services for members.

 You can offer a lawyer/accountant's or any other services as well.

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 Attract well-off customers.

BIBLIOGRAPHY

 https://hbr.org/2015/05/why-people-thrive-in-coworking-spaces

 https://talentculture.com/coworking-spaces-changing-future-of-work/

 https://issuu.com/prthnakhnpara/docs/reseach_on_co-working_spaces.docx

 https://www.researchgate.net/publication/

315379628_What_is_Coworking_A_Theoretical_Study_on_the_Concept_of_Cowork

ing

 https://www.archdaily.com/tag/coworking-space

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 ANNEXTURE

1. What is your name?

2. The age category you belong to:

18-24
25-35
36-45
45 and more

3. Please mention your Gender:

Male, Female or Other

4. What is your Current Location?

5. Are you aware of Co-working Spaces?

6. Would you like to share your ideas with others, when you are working?

7. Do you think group activity held in Co-working Space is necessary?

8. Compare to traditional office, which advantage do you like in Co-working Space?

Low cost
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 Efficient Use of Space

Cosy Environment

Communicating with Others

Sharing ideas with others

Flexibility of Working Space and Time

Other:

9. What amenities would you like to have when in coworking spaces?

Prime Location
Wi-fi
Printer
A.C

Parking
House Keeping
Tea/Coffee
Pantry

10. Choose the following seating options you would be interested in a Co-working
Office Space:-

Open space, first come first serve seating

Designated desk with locking drawers
Private office
Lounge or alternative spaces
Meeting or collaborative space

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11. Which mode of working, would you prefer?
Working in Office
Work from Home
Working in a Coworking Office
Other:

12. Would you consider working at a Co-working Office Spaces?

Yes
No
Maybe

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