3. 3
SWOT ANALYSIS OF SPACE 4 YOU:
The co-working space offers a wide range of service which can help entrepreneurs. But the
concept also include some inconvenient to deal with. The SWOT analysis will allow not only
to identify the strengths of the concept and the opportunities to grab but also discover the
weaknesses and the threats that could slow down its development.
STRENGTH:
Office desk savings, rent a desk is less expensive that running his own office
Flexible: it is a variable cost. Desks can be rented for 1 day, or several months
Wide range of services: co-working spaces offer all the services that an employee can
expect from his company to work in good conditions, even more. Co-workers don’t
have to worry about supplies
Perfect socializing experience to avoid lonely and unproductive work at home
Interactions and collaboration with the other co-workers: you benefit from the
community
Possibility to attend networking events, conference, demonstrations…
Participation to a community, feelings of being important and receiving support
Friendly innovative environment: designs, lounge, events, all elements are present to
foster innovation
Co-workers: talented people coming from different backgrounds, ready to help each
others, providing advices and support
4. 4
OPPORTUNITIES:
Extension of the proposed services: secretary, designs, promotion
The concept could be implemented into companies who want to offer more friendly
environment to their innovators to gain in efficiency
WEAKNESSES:
Lake of privacy: possibility to hear co-workers communication or get an idea of a site
that hasn’t launched yet
Intellectual property: some discussions can be public to get involved other minds. Some
entrepreneurs protect their innovation by making sign Non Disclosure Agreements. But
this practice is prohibited by Citizen Space for example.
Negotiate the public/private boundaries: the more you exposed your project the more
feedbacks you received but the more vulnerable is your project as well
Lake of collaboration: some of the co-workers could prefer to work individually, not
sharing the value of the co-working space. It is difficult for everyone to feel empowered,
supportive and take initiatives
Adequacy of the space: sometimes the configuration of the space does not fit with the
coworkers expectations. Depending on the nature of the business, entrepreneurs need
specific tools (drawing board for designers for example). Most of the co-working spaces
are dedicated to web entrepreneurs implying the unique use of a laptop
Lack of frequentation: because it is not “their office” the impetus to go to work is
lowered.
Nevertheless, if the critical mass is not reached, the advantages of a collaborative space
is lost
5. 5
THREATS:
Hacking problems: co-workers are quite sensitive about security and confidentiality.
Coworking spaces can be vulnerable to hacking given the audience of the space: most
of the time web experts. Co-workers are afraid of someone sealing their ideas. Some
space have developed password secured wireless cable modem but hackers are stronger
and stronger. We can nuance saying that start-up are far less interesting for hackers than
important companies
The co-working spaces could suffer the competition from cafés that offer free wifi for
the purchase of a coffee. It is cheaper than co-working depending on the consumption.
Cafes could adapt to this new trend by diversifying their services
Development of the 3G technology: 3G wifi access all over the world is possible now
for a fix rate per month. It allows to work in many different place for a good price
Start-up and ventures have been hardly impacted by the financial crisis. The credit
crunch has slowdown the creation of start-up and discouraged some entrepreneurs. This
trend can reduce the number of the potential audience.
CONCLUSION:
To conclude, the co-working spaces have a lot of advantages to learn from others and share his
experience. However, being in contact with others and not have a real “own” office implies to
be able to live in community. The co-working space has a good potential of growth because
there is a real demand. But, first of all, that is a choice made by the entrepreneurs to follow this
way of working.
6. 6
DEVELOP CREATIVITY & INNOVATION IN THOUGHT AND
ACTION:
FREE PASS DAYS
This one is intended to provide nonmembers get a taste of what our coworking space has to
offer. This is the best way to induce them into becoming paid members. We will offer a limited
number of free passes every quarter to the nonmembers and show them what it is like to work
in a cosy environment with some coffee, meeting space and a personalised introduction to the
working community.
FREESTANDING CUBICLES
Freestanding cubicles can be placed where they are needed and reconfigured as necessary.
They can be set up as a way to create larger spaces where workers can collaborate or they can
be smaller and only accommodate one workspace.
Blending a glass freestanding partition with a more standard cubicle set up can give workers
the best of both worlds in their coworking space. These cubicles can also help with social
distancing and giving people their own space to work without fear of germs.
7. 7
LAUNCH PARTIES
We will throw a launch party if one of the coworkers just came up with an album, a website, a
product or any successful launch. This will provide our coworkers to get involved in one
anothers success and increase the sense of community work.
LIVE MUSIC
Music can heal! We will provide our customers a dedicated spot in the space for performers to
play music or just let the coworkers refresh their minds with the help of a soothing tune because
music does everything from uplifting the mood to refreshing after a hectic working shift.
8. 8
STANDALONE BREAKOUT SPACE
Creating a standalone breakout space gives people a private space to share ideas where they
won’t be disturbed (or disturb anyone else). The great thing about creating a standalone
breakout space is that it can be placed anywhere it is needed-even next to a putting green with
a stuffed bear audience.
HAPPY HOURS
We will Combine happy hours with games, food and even video game sessions. Happy hours
will be nothing new, but the innovation has no limits.
TECH TALKS
We will try to get involved with our local developers community. This will help the developers
share their new ideas and promote innovation.
9. 9
HACKATHONS
From NASA’s space app challenge to NGO initiatives in developing countries, Hackathons
seems to be the latest trend. And not all Hackathons are created equally. A combination of
diversity, authenticity, expert collaboration and fun; well-organized Hackathons are like parties
and can help our coworking space gain exposure and popularity.
PANEL DISCUSSIONS
We will invite the community and the members of our coworking space at large and organise
discussions on hot topics like how to maintain productivity while working remotely or how to
get financing, etc. This helps create a sense of collective well-being as these topics remain a
standard feature across businesses.
10. 10
MAKING THINGS MOVEABLE
When people become glued to a particular place, their perspective stays glued, too. Put things
on wheels, or having rotating desks allows people to meet new coworkers and invites
collaboration. And don’t sit next to someone who does the same thing as you—if you’re an
engineer, sit next to a designer. Physical silos are real.
DISPLAYING THE VALUES
Placed all around the Space 4 you office are key phrases projected in neon lights. Next to our
hot desk it will be "Talk Less, Do More"; in our meeting room it will be "Make Others
Successful"; next to the door before you exit it’s "Take Responsibility". These signs serve as a
daily reminder of what we all believe in.
CREATIVE LIGHTING
One of the most important aspects of any work environment is adequate lighting. In a
coworking environment, we will ensure that every workspace has dedicated lighting. A unique
lamp or fixture can mean the difference between a dark cave-like environment and a bright,
vibrant one that excites and inspires.
11. 11
Lighting can even serve as a way to designate workspaces, whether at a long table or on
individual couches or other seating areas.
A VARIETY OF STORAGE OPTIONS
Some workers will want to have locking storage available for things they don’t want to cart
back and forth each day. A setup of lockers works nicely as they can provide their own lock
and use one when they need it.
Other options include individual workspaces that people can rent out on a monthly or weekly
basis that includes private locking storage, or you can choose an unconventional method with
lockable medical file cabinets.
12. 12
FEASIBILITY OF THE BUSINESS PLAN:
The growth of co-working spaces is great in India. India as a developing nation has
taken to the concept of utilizing co-working spaces very well. The old-school thought
process of working from office cubicles is now being shattered with the introduction of
the new and more creative concept of co-working that allows working professionals to
be flexible and give them the room to express their creativity.
The amenities offered by the co-working spaces have helped businesses blossom from
all corners of the country especially during the pandemic. Therefore, it goes without
saying that the trend and culture of co-working spaces is here to stay and will govern
the future of the corporate sector. The future of these co-working spaces primarily in
India is great and it is going to see an upward rise in the graph of growth with years to
follow.
Also, as per a recent study conducted, the share of Co-Working spaces within total
office spaces presently stands at 3% which is estimated to increase to 4.2% by 2023. In
terms of total square feet expansion, the Co-Working space industry is expected to grow
by another 50 million square feet by the end of 2023. These figures clearly indicate that
working professionals are keen on working from Co-Working spaces as they have been
exposed to an ambience and work culture that keeps them motivated and increases their
overall efficiency.
It is expected that with more awareness and better knowledge, the demand for Co-
Working spaces is going to increase. These spaces are very convenient for every
employee regardless of their industrial origins. Therefore, this concept will experience
a rise in demand in the future.
This is one of the biggest future trends that is expected for these spaces. Work from
home has become a productive concept due to these COVID times as employees
worked with more freedom and flexibility without compromising on their professional
responsibilities. It allowed companies to save finances and cut down costs in terms of
fixed office expenses as employees responded well to the work-from-home and
operated from Co-Working space format. Due to this, businesses have started investing
in these spaces and it is expected that it will increase in the coming future. This is where
businesses are also benefited. Therefore, the investment in these spaces will rise.
Therefore, it can be safely stated that the Co-Working culture will drive the future of
the corporate realm and is an idea that is here to stay.
