CoWrks: Founder, Revenue, Business Model And Competitors

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About CoWrks

“Coworking space for the inspired.”

CoWrks is a network of coworking spaces curated for the community of like-minded individuals gather to work, collaborate, inspire and get inspired, and connect. By challenging the concept of traditional workspaces.

CoWrks provides spectacular workspace designs, an intelligent network for professionals to tap into and with infectious energy. It is a stretch designed for individuals who like to fiddle with the ideas. In simple words, it is a coworking space built for entrepreneurs, startups, freelancers and even Fortune 500s.

CoWrks Bedrock & Founder

Incepted in Feb 2016, Bengaluru as its headquarters, CoWrks is founded by Sidharth Menda. Offering co Working space, Commercial Real Estate, office rentals and office space for professionals, freelancers, entrepreneurs, and other working people.

CoWrks flagship 1.7 lakh sqft office located in RMZ Ecoworld, a commercial complex in Belandur IT hub, Bengaluru. The coworking platform has two centers over 3,550 members in Bengaluru alone.

CoWrks Business

Sidharth reminisces that he had a tough time convincing RMZ Corp promoters and his father Raj Menda to invest in the new age business. RMZ Corp has built 25 million sqft of the commercial real estate, and this is a no new venture into a new area like the co-working space. After eight months of research and conversations, Sidharth finally succeeded in convincing his father and RMZ corp promoters to invest in the modern age business in January 2016.

Sidharth ideate is to choose to build a community of smaller companies against signing up large corporate leasing the entire workspace and generate significant revenues for his company.

Sidharth main motto is to architect the business model for the millennial entrepreneurs who are looking for the workspace adding value to their lives by not just sitting and paying rentals.

Facilites

The workspace offers car parking, 24/7 access to office, Conference rooms, unlimited coffee and flavored tea, Hi speed Wireless network, Paid events, sinage, and many more facilites to the entrepreneurs, freelancers and many working professionals.

Sidharth outlook on new Business Model

Coworking spaces have different business models. Some coworking spaces use traditional pay-as-per-use business model.

Sidharth opted for getting the business on his own and structuring his coworking brand business model. He rejected the offer for partnership from WeWork, a coworking platform because the business model did not appeal him much.

Cowrks Revenue

Cowrks estimated annual revenue is around $1 million.

Cowrks has increased to 250% growth in less than 2 years. They are on a mission to establish themselves as the authority on all things coworking by building a potential growth in the community and offering with an excellent and unparalleled coworking experience. Emphasizing on groundbreaking technology and passion for nurturing and supporting entrepreneurs by creating a revolution in a workspace.

Competitors

91springboard, WeWOrk, BHIVE Workspace are some of the fierce competitors for CoWrks.

CoWrks became India’s answer to modern millennials who were confined to their unexciting traditional office spaces. The team created and designed unique spaces to cater to a diverse community to connect the firms on a personal and social level.

Future Expansion

CoWrks , coworking platform is looking to establish 23 operational centers across 2.5 million sq.ft with 25,000 members across major cities. Now it currently had centers in Mumbai, Bengaluru, Hyderabad, Delhi NCR, and Chennai. The working platform is affordable at the reasonable rates and compared to other workspaces. By 2022, they aim to expand their coworking spaces across 20million square feet nationwide. CoWrks is one particular place creates beautiful, inspiring and high energy work environment that changes the way of work forever.