CO-LIVING IS EMERGING AS A RENEWED BUSINESS OPPORTUNITY | CO-LIVING EMERGING
Co-Living is becoming the next big trend in the hospitality industry. This can be a cure for a lonely millennium that seeks a true link. The concept offers a great opportunity in the world, since it satisfies the basic needs of the young urban migrant population.
As young global consumers of the new era become more tech savvy and happily adopt the idea of a shared economy, the increase of life together is inevitable. The focus on high quality services, based on technology and coherent is the key to this sector.
Startupbnb.com is a personalized platform that helps users to rent a room or a room.
Start-ups Can Help the Sector Develop Into a Mass Market
What drives the culture of life in the metro is the appeal of a social life: the apartment is equipped with roommates and similar nature. The possibilities of having a roommate with a similar social and economic status improves social networks The benefit of socializing with like-minded people changes with roommates Change of residence approaches people and is now an economically viable business “said Sharma.
Co-Living combines the energy and spirit of the community.
Apartment rentals in large cities are as high as security. To this the installation costs are added. This is one of the reasons why young people choose to live together in peer groups, in high-quality apartments equipped with equipment.
Nowadays, the rental market offers a decent space to establish the disruptive concept of Co-Living. PGs and youth hostels have always been present, perhaps with the new live avatar lures: standardized and lighter experiments, as well as a plug and play model. And what attracts entrepreneurs is a business opportunity that has never existed before. Another reassuring factor for entrepreneurs is the success of global partners in spreading Co-Living. The idea of Co-Living is to combine the energy and spirit of the community with commercial efficiency.
The Co-Living Spaces resonate culturally with the millenary generation.
New companies in this sector constantly offer solutions to the real estate crisis. The need for more micro-apartments has been underlined many times. As new workers flooded cities that demanded more freedom, pensions were largely replaced by equal housing, while shared housing poles were designed for extended stays.
New companies are constantly working to change their homes by creating a brand that is “emotionally and culturally with the millennial generation”.
Entrepreneurship brings the old perspectives to a new perspective.
To give just one example, the taxi industry has been around for a long time, but players like Uber and Ola have brought a level of service quality and technological performance totally different from that of the industry. In the same way, inspired by the entrepreneurial spirit, CoHo calls the bases to do business with its innovative culture of connecting people with community events (humor, game tournaments, therapy sessions with dogs, etc.); Smart technology such as online concierge, smart locks.
The depth of the market already exists with a market volume of $ 10 million. It is simply to develop the quality of an existing market by consolidating it under the umbrella of the brand.
Execution remains the greatest limit to Co-Living.
We try to do this with a very technical approach that allows all aspects of business management, user acquisition and resident service to be solid through technology. The awareness of Co-Living as a concept will take time, like any other Sunrise industry. But with rapid adoption, the traction seems massive. Constant quality and a customer-centered approach are the key to this space, given the long-term nature of the offer. To do this, with the 3C approach: comfortable homes to connect and use, comfort based on technological and community experience, is the way forward.
Also Visit: CHALLENGES TO ROLLING OUT CO-LIVING