There are a lot of underutilized spaces in the town, which can be used more efficiently, and monetized further.
How we Solving this
Workplax is working to build a network of affordable co-working space in Mumbai. The main idea lies in the fact that the urban planning has to be more efficient. In this way, it makes a win-win situation for the location owner, and the customer.
1st Phase is Crucial
In our first phase, we are focusing on using the “dine only” restaurants, pubs, lounges, etc to be used as co-working space in the off hours. Since the co-working space does not require a running kitchen, it seems like the best option for using the space. It gives the restaurant owner free cash to relieve the ground-level retail pressure, so that they can take more risks with food/beverages or any other concept for their location.
Revenue & Business Model
The revenue will be shared between the location owner and Workplax. It also gives the customer a cheaper option in a good location, as it is said in the startup ecosystem – a penny saved is a penny earned.
Talking about the market size, India is second only to the USA when it comes to the number of freelance professionals in the world. India has about 15 million freelance professionals. About 1.5 million professionals graduate every year in India.
This apparently makes India a key market for co-working spaces. We are currently doing our pilot in a Bandra restaurant, which has a capacity of about 50 people. It has indoor and outdoor spacious premises, so that entrepreneurs can feel comfortable.
Our Progress & Future Scope
We will also be providing high speed Wifi, and options for Tea, Coffee & Refreshments. We are currently in talk with many other restaurants in various locations across Mumbai to scale this up.
We envision to use underutilized real estate to provide better opportunities to freelancers, startups.