Cost Of CoWorking Space in Hyderabad, TS

Price Range of CoWorking Space

The cost of coworking space in Hyderabad can vary depending on various factors such as the location, amenities, and services offered by the space. However, on average, the cost of coworking space in Hyderabad can range from Rs. 5,000 to Rs. 20,000 per month for a hot desk or a dedicated desk, and can go up to Rs. 30,000 per month for a private office or a team room.

Coworking spaces are becoming increasingly popular in Hyderabad due to the growing number of startups and entrepreneurs in the city. Therefore, it can be a lucrative business for those who want to invest in this sector. Overall, a coworking space business can be a lucrative opportunity in Hyderabad, but it requires careful planning, execution, and ongoing efforts to keep the business competitive and profitable.

Popular Spaces

Some popular coworking spaces in Hyderabad and their approximate prices for a hot desk / seat are:

1. P & S Kickstart - Rs. 7,500 per month ( Including complimentary access to meeting rooms )
2. 91springboard - Rs. 8,000 to Rs. 10,000 per month
3. WeWork - Rs. 10,000 to Rs. 15,000 per month
4. CoworkZone - Rs. 9,000 per month
5. Smartworks - Rs. 10,000 to Rs. 20,000 per month
6. AWFIS - Rs. 12,000 per month

Please note that the prices mentioned above are approximate and may vary depending on the specific location and package you choose. It's always a good idea to visit the coworking space and check out the facilities and services they offer before making a final decision.

Cost Estimates

Things you need to consider for a coworking space

By taking these factors into account, you can find a coworking space that meets your needs, fits your budget, and provides the amenities and services you need to run your business effectively.

• Location: Choose a coworking space that is conveniently located for you and your team, with good access to transportation and other amenities.
• Cost: Consider the cost of the coworking space, including any additional fees, such as membership fees, setup fees, or security deposits.
• Size and layout: Consider the size and layout of the coworking space, and whether it will meet your needs in terms of space for your team, meeting rooms, and other facilities.
• Amenities and services: Look for coworking spaces that offer a range of amenities and services, such as high-speed internet, printing and scanning facilities, coffee and snacks, and meeting rooms.
• Community and networking: Consider the community and networking opportunities that the coworking space offers, such as events, workshops, and networking sessions.
• Security and privacy: Look for coworking spaces that provide adequate security and privacy measures to ensure the safety of your business and data.
• Flexibility: Consider the flexibility of the coworking space, such as whether you can upgrade or downgrade your membership, and whether you can easily cancel or modify your membership if needed.

Running Costs

Not by simple owning the place does justice. You need to loosen you pockets further more for a smooth running of the facility. One unhappy client can cast doom for your coworking business.

1. Power : This is a no-brainer. A decent 5000 sq ft with a 400 seating will cost you anywhere between 25,000/- to 40,000/- rupees. Since most of the power will go towards the air-conditioning. A centralized AC system is mandatory in places like these. Not all business will occupy the allotted spaces. So, you need to install a modular AC system to control each unit separately. This will cut down some of your costs. Maintain the temperature at 24 degrees celcius.
2. Front Desk : You need to hire a presentable person to engage with clients. They usually go anywhere between 2.4 - 4.0 LPA. They are the ones that attending the calls and possibly converting the future clients. So you must have the best people for this. I don't want to sound prejudiced here but women are good with people.
3. Cleaning & Maintenance : Again, the whole place maintenance falls on your shoulder since the client will only pay for the seat and nothing else. You need to hire atleast two people (depending on the size of the place). Cleaning supplies, replacing equipment because of regular wear / tear etc.
4. Insurance : Most of the time people will just discount this. But it's mandatory for your clients so do you. Since this kind of business is not a hazard prone like a restaurant business. The cost will be easy on your pockets.
5. Advertising : The beginning phases are tough. Its a new place and not too many people will now about it. Hire a good digital marketing specialize and start with paid ad campaigns like facebook, instagram and google adwords etc. If you have enough budget, youtube marketing will pay off too.
6. Security : It's everywhere. Install CC camera in every corner and couple it with internet so that you can access it from anywhere. Most CC camera installtion systems come with their own setup and mostly its a DIY. Don't forget the security guard, you need two / three to cover all shifts.
7. Legal : This can be a one time cost since you need to make ready for legal documents to sign with your clients. Usage policy, surrender policy, refund policy and any other documents you need. Some of these documents are handy to put them on the website.

Conclusion

Hyderabad has a vibrant startup ecosystem and a growing number of professionals who prefer flexible workspaces. Therefore, coworking spaces that are located in prime locations, offer high-speed internet, printing and scanning facilities, meeting rooms, and other amenities at a reasonable price can be a profitable business in Hyderabad.