Virtual offices are wish-granting genies for small businesses and startups looking to put themselves on the global map without fretting about set-up and expansion costs. Flexible office solutions have emerged as the major trendsetter in office real estate space and are expected to grow at a CAGR of 18% globally as per experts.
CBRE has reported a 26% increase in the growth of the virtual office spaces in 2019 alone and we’re talking pre-COVID. These numbers are set to explode in the coming years given that remote working and flexible workspaces will be major forces to reckon with in the COVID era.
VO Emerges as Hero Amidst The Growing Demand for Flexible Workspaces
COVID induced changes were felt like tremors across the real estate industry in all of 2020 and will echo in the future as we know it. While fixed office construction and operation processes were delayed and proved rigid and costly to reinvent, the flexible office spaces in the market have come to the rescue of small and big businesses alike who look for reduced Capex, more agility in the workforce and of course a safer way of working.
Warehouse owners and suppliers across the country now need virtual offices not just for modern and presentable business addresses but also as a way of ensuring their business is represented as a “safe working space” serviced with precautionary measures. Operating businesses and warehouses while adhering to safety norms can only be controlled so much by the owners. Having an official address that communicates their ‘safety first’ value is easier to achieve.
Unsurprisingly, Economic Times reported a 50% increase in the demand for virtual offices in 2020 as more homegrown businesses came to life and the workforce moves to a more global, self-employed model.
myHQ reported 69% increase in VO Demand in 2020
myHQ has onboarded more than 100 virtual office locations across all major cities in India. We’ve helped our flexible space partners increase their revenue with virtual office services and unlock a completely new channel for their revenue as a flexible office space owner.
Here’s what some of them have been saying:
Business Hut, Bangalore:
“myHQ has provided us phenomenal support in challenging pandemic times to augment our revenues through Virtual Office subscriptions when the workstation rates had taken a beating. It has been a great journey with myHQ on VO conversions at our space. Hope to replicate the success with dedicated Workstations as well.
Way to go Team myHQ – it’s a pleasure to work with you guys!”
– Ramanathan, Chief Executive, Business Hut Co-Working Spaces, Residency Road, Bangalore – 560025.
“myHQ helped Krastay Coworking & Virtual Offices located at South Delhi in getting the 10X revenue in the first quarter through Virtual Office. myHQ’s seamless coordination and domain knowledge makes swift incorporation of the companies right from their inception to growth continuity for the start ups and established companies.”
– Laviral Kalra, Director, Krastay
Tribe Spaces, Mumbai:
“My collaboration with myHQ has been an extremely fruitful and a super-easy one, the team is easy to work with and keeps you on your toes for the better of your business and the customers alike. I’m glad to have found these professionals with startup-like enthusiasm to do business.”
– Rahul Sharma, Owner, Tribe Spaces
22 Workspace, Delhi:
“In Post Covid era, there has been a juggle in the manner the business operates. “Work from Home”, “Work near home”, “Performance-based employment” is the foreplay in this era. Whether you are starting a new business or are restarting the business, starting with a virtual office is the way to go. myHQ has been very improvising in capitalizing this virtual office vertical.
They have been able to capitalize on the ever-increasing demands. They understand in-depth client requirements and suggest them the best means for the same. As a space partner, they have been very helpful in feeding us with clients. Their robustness and PAN India presence have helped them achieve immaculate perfection in Virtual Office Arena.”
– Kushagra, Chief Financial Officer, 22 Workspace
After tying up with major flexible space partners, myHQ has successfully reported a potential increase in earnings of over 1 Lakh+ MoM via Virtual Offices.
If you’re wondering about which kind of spaces are preferred by customers for Virtual Office/GST registration, here’s a list:
- Owned Property
- Landlord allowed sub-leases
- Grade A buildings
Do you have a space that matches the above criteria? Would you like to increase your monthly revenues with a Virtual Office service?
Partner now with myHQ to start Virtual Office at your space and begin generating revenue!
Articles you may like:
- How We Converted Delhi’s Most Happening Lounge Into A Perfect Coworking Space
- myHQ Partners With Vatika Business Centre To Expand Its Flexible Coworking Offering
- How to 5X your revenue with myHQ | Partner Success Story