Why India’s Startups Are Choosing Office Furniture Renting?
Authored by Sidhant Lamba, Founder, Fabrento
In this growing economy furniture is costly, yet it is a vital element in an office, especially if you are a millennial and setting up your own start up. It has to be functional as well as add the aura of professionalism inside the office. A gloomy office decor can lead to a drop in energy levels of the employees, ultimately affecting the productivity.
Interestingly, a large number of millennials are opting to rent furniture rather than buying them. How furniture renting has expanded from home to office décor is truly astonishing. There are tons of benefits that come with this wise decision and here are some of them.
It’s the Quickest way ever
A number of times people find out the furniture they have ordered for their office hasn’t arrived yet and the opening date are just around the corner. What a shock! This is something both professionals and newcomers can face while setting up their office. A miscommunication, a snag in the production… and your first impression is ruined. This is why renting furniture is way quicker and easier than buying. Furniture rental companies can furnish an entire office in less than two days. This saves precious time and money and office work can start right away.
Builds up the right office aura
Although every office needs the right kind of furniture, however millennials are extra careful when kickstarting their new business. Office décor should be professional yet comfortable, bright but not sore to the eyes and functional but not boring. Furniture renting provides huge options for every room; be it the reception, lobby, main building or conference room. Rental services pay special attention to keep the design modern and sleek since old bulky furniture is a strict no-no for an office environment.
Works wonders even on tight budgets
Millennials work hard to follow their dreams through their start-up. They have already invested lakhs of rupees in this new venture and furniture rentals come as a comforting support, telling them there is no need to spend big bucks on furnishing as well. Office furniture costs more than home furniture because usually they needed to be bought in bulks. Thus, renting furniture for your office is a practical and wise decision, adding to your career growth.
Flexible and easy to return
Many startups can witness major changes in their office space and employees strength in rapid succession. These changes require more and more furniture and can cause unnecessary purchases. Additionally, there can be times when extra furniture is needed for short period of time, maybe for a 6-month project. Now what to do with those newly bought furniture after the project has ended and work pace is back to normal.
To avoid being surrounded by a pile of unused furniture millennials are choosing to rent their office furniture rather than abruptly buying them. Once done, returning furniture is way uncomplicated because selling furniture, no matter how good quality they are, cannot be done without suffering a loss.
Maintenance is not monumental anymore
Office furniture needs a lot of maintenance or regular basis since they are used much more and by many different people for long period of time. Youngsters are smart today and know that many rental services provide complimentary maintenance services. They are done by professionals ensuring the longevity of office furniture.
Make a strong brand statement
Millennials are extremely comfortable with constant change; in fact they demand change to avoid being a stagnant in their career and encourage growth. Many companies want to transform their style according to the on-going trend. They prefer sleek, contemporary outlook and even year old furniture seem ancient. Potential clients become mesmerized by the up-to-date and luxurious style. By renting furniture, you can easily change your office decor whenever you want without splurging too much.
Hyderabad has done everything right to fuel growth
Realty+ talks to Shivam Sinha, Co-Founder and CEO of Indiassetz about the reasons behind Hyderabad’s success of attracting higher commercial investments than Bangalore.
Is Hyderabad a better option than Bangalore in office space leasing?
It wouldn’t be fair to compare ANY two cities given that every city brings with it, its own unique environment to offer in terms of socio-economic construct, cultural landscape and political Will. Alongside, a lot depends on what is the lessee looking for while selecting the city or space for lease- the duration, growth projections, kind of business and Off course the talent market etc… A hundred factors go in while deciding on an opportune market. As for the two cities, I see both having an equal potential with their own unique canvas with reference to the above factors, all encompassing.
Are higher occupancy costs in Bangalore driving businesses away?
Given that the city of Bangalore has continued to expand through its boundary and has shown tremendous growth over the last 2 decades in not just IT sector but across Pharmaceutical, Contact Centers and FMCG industry too, I am not sure how true it is to say that the businesses are being driven away. You will be surprised to know that not only traditional industries but Bangalore has also been a place of choice for hundreds of start-ups who have chosen to set up their base in this city. While it is true that the entry cost is one of the key components while choosing a space to establish base, I also see that a lot of thought goes in assessing the potential of the market and thus factoring in the entry costs and making a wise decision basis the overall ROI. Bangalore continues to offer more every passing year in terms of business opportunities, talent availability, and socio cultures flexibility thus holding a promise like no other city does. With the expansion now having set in around the periphery of the city, I only see more and more companies choosing Bangalore as their preferred city for setting shops.
What are the factors attracting commercial investments in Hyderabad?
For any city to attract commercial investments, it needs to be infrastructure ready and show visible signs of change in terms of feasibility, political will, cultural acceptance as well as growth mind-set. Hyderabad has done everything right to be fuel growth and thus continues to attract commercial investments and others alike.
Do you see Hyderabad surpassing Bangalore in terms of commercial infrastructure development?
It is too premature to comment on whether one will surpass the other. In the now, both cities have their own unique things to offer, and show tremendous growth potential. There are pockets in both these cities that are saturated and yet there are enough and more new areas that hold growth potential. Both the cities have sure done something right to offer sustained growth in their own unique ways and thus, remain very different from each other in many ways.