Hyderabad: On-demand workspace provider GoFloaters has forayed into Hyderabad. Unlike co-working space companies that create few large centres in each city, GoFloaters believes in the model of creating multiple small workspaces along with its partners where a user can choose to work from any day, anytime depending on the need or occasion (regular work, meeting or a video conference).
From March onwards, the company has begun talks with partners in Hyderabad to roll out its centres. The company is looking at areas such as Banjara Hills, Jubilee Hills, Madhapur, Financial District and Dilsukhnagar. It has tied up with about 30 partners already in 8-9 locations in Hyderabad. The partners own/lease and manage the space while GoFloaters extends its strategic expertise, model, technology platform and its brand.
GoFloaters co-founder Shyam Sundar Nagarajan told Telangana Today, “Established in 2017, we have been offering on-demand workspaces across over 110 spaces in Chennai, Bengaluru, and Coimbatore. We are creating a fundamentally new way of working for startups, medical practitioners, freelancers, sales teams and enterprises. We give a great degree of attention for working women, women freelancers and women entrepreneurs.”
The company plans to have a seat capacity of over 300 in Hyderabad to start with and has already got close to 800 seats in existing cities. There are plans to tap the opportunities in non-metro cities across India, going forward as the startup momentum is picking up and there are no flexible, quality and affordable workspace available. It is keen to address the unserved and underserved markets.
When asked how is the seat inventory planned and utilised so that a rationalised occupancy rate is maintained, Nagarajan said, “We are following an asset-light model. We are estimating the demand for workspace in each location. Our local partners are also going to help us in the operational aspects. We also have an app that will help us in the inventory management to gauge the supply-demand situation better.”
“There is an increase in the number of freelancers in India primarily in the technology space, which is driving additional demand,” GoFloaters co-founder Srivatsan Padmanabhan added.
GoFloaters, which is bootstrapped, is looking to accelerating its growth and penetrate into other markets across India. The company will raise funds for its expansion by 2020 and is currently in talks with potential investors.