CHALLENGES

Major challenges include huge capital cost which needs to be made for starting each center and the amount of time it takes to build a coworking space from scratch. It often hampers the growth of the company, which is bootstrapped and growing without raising any funds.

Due to economic downturn, clients may often face revenue problems and hence may not be able to sufficiently pay monthly rentals. It is seen that many startups shut down soon after their inception due to miscellaneous reasons and this also creates a problem with them staying with the coworking space. This has a snowball effect.

The major challenge is to establish client loyalty. With best in class amenities and services being offered by most of the leading players, ensuring user allegiance and stability becomes the utmost priority for co- working spaces.

Top co- working spaces are thus introducing high- end facilities such as cafes, gyms, spas, food courts, gaming zones and productivity enhancing ' breakout zones' in order to attract more users to their spaces.

Many are also organising gigs by artists, seminars and networking sessions by business leaders etc. in a bid to attract more start- ups as well as established corporate houses to the co- working domain.