The pace of development of this model in the world is 53% per year in the past five years, while the supply of co-working space in Vietnam is increasing on average 58% per year.
The shared economy has changed a lot of the habits of modern life. From my own perspective, young people now prefer to ride with Grab, Uber, sharing their “shared accommodation” when traveling through Couchsurfing, Airbnb and then “work together” in space. Open work is often called co-working space.
The rising trend
The co-working space model provides a common, comfortable, dynamic and functional workplace for the needs of a traditional office, such as meeting rooms, printers, office reception services, kitchens Co-working space is misleading with many models such as shared office, nursery, working in a coffee shop … However, a real co-working space consists of two parts: amenities and community. In other words, not every space, subdivided into rent to co-working space.
Co-working space appeared in the 1990s in Germany, then spread to many countries around the world. Southeast Asia is a thriving co-working space with more than 10,000 active space as of the end of last year. JLL’s forecast also suggests that the supply of co-working space will account for 10-15% of total office supply in this area, compared with 5% currently. Some multinational corporations are also setting up co-working space in the office to stimulate employee innovation.
In Vietnam, this trend has been fading since the startup spirit. Especially when the place where former US President Barack Obama or CEO Google Sundar Pichai exposed young people when visiting Vietnam are the famous co-working space. According to CBRE’s report, by the end of the first half of 2017, there are 17 co-working space units operating in 22 locations providing approximately 14,500 sqm of working space. community. There are only 200-300m2, there are places over 1,000m2. The hot names of the co-working space model can be referred to as UP, Toong, Dreamplex, Citihub …
Ninety-one percent of the users of the shared space in Vietnam are under the age of 35. UP City currently has an area of 600m2, occupancy rate of about 70%, including 10 private rooms and 100 seats in open space. Those who work mainly startup technology, companies from 2-4 people and freelancers, “Nguyen Anh Kim, Managing Director UP co-woking space HCMC.
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UP does not lease based on the area of operation that provides each demand-based service pack to help startup focus on the product without being distracted by unnamed operations. Separate rooms (8 seats, 12m2) have a rent from 16 million / month or more. A fixed seat is priced from 1.5-2.5 million / month, package for flexible working member 3 days / month is 200,000 VND.
Most of the revenue from co-working space comes from the cost of renting a working space, some places have additional food service, rental event locations, connection fees, startup consulting … Market This is a playground of co-working space in the chain, has long-term orientation and great resources. The commonality of these models is that ambition does not stop at providing basic functionality.
Recently, Toong, the first co-working space in Hanoi, has expanded into five locations across the country and has signed a memorandum of understanding (MoU) with United Overseas Bank to provide further support to the fintech community. (financial technology). Prior to this, Toong has teamed up with the Singapore Government and CapitaLand to provide work space for a wide range of people, from one to hundreds of people.
Toong’s model, Duong Do found, is to provide a high quality work environment and always monitor the structure of the rental sector to ensure the diversity of the business community, Small and medium-sized businesses, startups have the revenue or call the capital round successfully.
UP also recently announced a partnership with VPBank, which is part of a $ 1 million project to support the startup community. UP has South entered Ho Chi Minh City with a campus in the Polytechnic University of Ho Chi Minh City and is about to open space in front of a downtown district 10, which operates 24/7, including holidays.
Ươm mầm ý tưởng kinh doanh/ Nurturing business ideas
Startups looking for co-working space are not just a place to work, but also to expand relationships, capture the trends of other industries, even hunt for people’s heads and especially to get the eye on. Investment fund network after co-working space. The founders of co-working spaces, such as Nam Do (UP), Dreamplex, are also angel investors. Cyber Agent, a Japanese investment fund, also has offices in UP to reach many potential startup ideas.
The common dream of co-working space models is to spur ideas for business. Does co-working space itself live well? Mr. Nguyen Trung Tin said the investment of Dreamsetx area of 1.500m2 spread over three floors of Miss Aodai building about 10 billion and expected after 3 years will break even. Duong Do, Toong representative, also shared Toong need about 2 years to recover capital investment in Trang Thi, Hanoi. The rate of return is shared by some people in the industry at 10%.
In Ho Chi Minh City, the model is said to be the eldest of the co-working space is G-Office, Saigon Hub. From the preceding models, up to now, the biggest barrier of the co-working space model is still the location.
Facilities are just the part, while the soul of a co-working space is the time and effort to build the community, distinguish the attraction of the model with another model. That is why the common workspace has a rather strange title, Community Manager, whose job is to understand the information, to connect members when they see the possibility of cooperation between them. joint activities. Space at co-working spaces is also often arranged so that members interact with each other naturally, organizing workshops and workshops to provide knowledge and experience for startups.
The Maybelle Pottery Speaker Project is a typical co-working space beneficiary, well known in the Toong community at work, Maybelle has become the first project to successfully fund a Fundstart platform. supporting exhibitions in Ho Chi Minh City.
Helping to reduce operating costs is one of the main reasons for co-working space development, which saves 30-65% of businesses compared to renting, investing and operating a traditional office. For example, a company rents a normal office space of 90 square meters but spends 25 square meters for meeting rooms and uses only one average per week. By setting up an office in a co-working space, just renting a room and using a shared meeting room with other companies will be suitable for small-scale workplace personnel.
The pace of development of this model in the world is 53% per year in the past five years, while the supply of co-working space in Vietnam is increasing on average 58% per year. According to CBRE, the common workspace is still a niche market and has not witnessed the entry of foreign brands, so there is still land growing.
