Flexing Space With Technology
In an interview with BW Businessworld, Sandeep Singh, Founder, Flexispaces talks about tech-savvy co-working spaces and more
How did you get the idea to start FlexiSpaces?
It started after realizing that there are listing portals but no convenience of booking through them, a customer has to work a lot in finding professional spaces. The pain feels like the customer is making the arrangement for a wedding.
The pain of finding an adequate space to conduct off-site meetings and events. There is a huge demand for co-working spaces and limited supply. Even though there are many enterprises and independent co-working spaces, it is difficult for the user to identify the best place for them in the desired location. This inspired us to develop a technically advanced platform where one can seamlessly select and book preferred spaces in just a few clicks, through the app or website. Gradually, the venture started to fulfill the need for classrooms, and today FlexiSpaces offers eight different categories of shared / co-working spaces to its customers.
FlexiSpaces is one of India's leading marketplaces for shared spaces. The tech-savvy platform is available on the website, and the Android mobile app offers immediate and the most convenient space booking experience to the customers without needing a call, follow-up, availability check and nothing else.
To begin with, the co-working segment is still on the helm of developing as an organized sector. Initially, there was no direct online system to book office spaces, anywhere, anytime. The users could get free meeting hours per month as per the packages, but there was no clear picture of how it could be utilised as it was done manually.
There was not much of the awareness about the shared office spaces, especially if there is a space available close by or in the preferred location. Also, there is a lack of information, size, offerings, services that meet consumer’s desire, which leaves people imprecise of the booking space. Additionally, the user had to travel a long distance to get a space where 4-5 people can meet for 2-3 hours without having proper knowledge of the facilities.
At FlexiSpaces, we are trying to resolve all these problems of discoverability of available spaces, right information and hassle-free bookings, so users can make informed decisions.
As we all know there are already lots of co-working places already there, so what makes you different
FlexiSpaces is not a co-working space; we are an aggregator of other independent and established shared working spaces. We provide our technology and platform to all our shared space owners. There is no technologically defined ecosystem in this space as of now. Being a newer segment in India, flexible spaces business is still in a nascent stage and on a learning curve as it grows. India has developed a strong co-working culture; however, some co-working spaces are listed online while close to 90% of the co-working spaces are still not recognized. FlexiSpaces uses technology to organize and tap the untapped co-working spaces.
By helping in technology, FlexiSpaces also helps smaller co-working players by lending their technology to them.
We have over 1000 properties listed on our platform. We work closely with our space partners to guide them and help them provide best in-class services as per the customer demands. Currently the partners lack n understanding on the nature of services that needs to be provided to ensure repeat customers. Through our platform, technology and support, co-working spaces are able to achieve the last mile, that is – they are able to fill the last 15-20% of their inventory.
Who all are your competitions in the same field?
Qdesq and Cofynd are the competitors who are co-working space aggregator and providing spaces in different-different cities.
What are your future plans to expand the business in other region/countries?
Being in shared spaces segment, one thing is for sure that the market is growing rapidly; we believe that we will be able to serve in more number of cities in the near future. The company is planning to add 5 more cities by the end of this year.
Moreover, we are launching a FlexiSpaces mobile app to make bookings easier, smarter and more economical to match customers’ demands with best offers to gain from.
What facilities do you provide to your clients?
We provide spaces, work desks, spaces on rent by the hours, daily or monthly basis. We charge customers from INR 100 / hour onwards; depending on the location, space and services.
You call your place technically advanced platform’ can you please elaborate this?
As I mentioned earlier that we provide technology to the co-working spaces which means we have collaborated with all big co-working spaces and listed them on the website. Through the website a person can find a place nearby and compare the space, see the pictures, check amenities that are available and book according to their preference and budget without going anywhere. Instant bookings, quality of the service and quick response are the services that we primarily focus on. We are also launching the app in sometime, which will make the process of finding the best place easier.
Are there any charges to register on your application or website?
No, we do not charge anything to register on our website. A person can directly book a space that is listed on our platform, anywhere; anytime.
How much investment you have made till date?
14 months back I have started this portal and within a year I am getting good response from people and last year company generated 2 crore revenue.
How much revenue are you expecting next 5 years?
I am expecting to achieve the target of 20-30 crore in next 5 year and targeting to list all co-working spaces of India on our website.
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