 So well, what business are we starting today? Do you like the real estate business? If you like it, we have just got the perfect startup idea for you and it's called the co-working spaces. Co-working spaces are in a sense the real estate business, but primarily serving tech and allied communities. In the last five years, the co-working spaces have grown as much as 450% across the globe. And of course, it is one of the fastest growing businesses in India. Now, how do you get started? In a co-working space. First of all, is the location, which is the most critical part of a co-working space. If you already have a location, if you're an owner of a property, particularly a commercial property, then you're absolutely set to start a co-working business just as soon as you can do the furnishings. But in case you do not have a property, but then you would have to go out and rent a property. You can actually rent a property either in CBD, which is the central business district, or you can rent it somewhere close by because then you will be able to get at a cheaper rent. Ideally, how the model works for co-working is that if you've got an x-rent, then eventually how you lease out to other tenants is about 3 into x of your rent. The location should be such where there is easy commute. In today's time, how co-working space is best work is if you're able to offer more facilities and more out-of-the-box services. One of the things that good co-working spaces are able to give today is meetings or lessons or inspiration from investors as well as for startups in terms of setting up their business. So this creates great networking opportunities for everyone. It would be wise if your co-working space can have one chartered accountant, one lawyer, social media specialist, an SEO specialist who can actually help the other young startups who are working over there. Bank tie-ups for your tenants would certainly be a plus for you. It would be nice if there are some recreational facilities within the co-working space, which could be yoga, meditation, and other such things. Child care, of course, is a big deal today and helps you to get a lot of women entrepreneurs or women-owned businesses to come inside. So how does the economics of a co-working space really work? So then let us presume that you're going to do a 100-seater co-working space. Typically, you would need a 6,000 square feet area for this minimum. A furnishing cost for a co-working space if you look at a very basic and a very prime, very simple kind of a furnishing setup in your co-working space, then it will put you down to somewhere between 2,000 rupees to 3,000 rupees per square feet. But if you want a more qualitative or a more up and a high-tech kind of a co-working space, then you should look at about 3,000 rupees per square feet kind of a setup. It's needless to say, sitting there, standing there so far as beanbags, couches and a great setup is all a basic and normal day in any kind of a co-working space. You would of course need to spend heavily on equipment which is having computers, printers and lots of other equipment and hardware which your tenants would require. This will at least put you out by another crore of rupees. A monthly operational cost, including your stuff, would somewhere between 15 to 20 lakh rupees. This would cover your entire at least one month cost. So the total cost of actually setting up a co-working space comes down to this. So who are going to be your customers in your co-working space? Today startups, freelancers, small businesses, young founders, prospective business people and even corporates who are quite bored of their you know, large sort of setups would like to be part of a more co-working kind of a culture today. If you're offering a private cabin to a co-working space then you can actually give it out to about 15 to 20,000 rupees. In smaller cities it can be less to about 10,000 rupees a month. A flexible space can be somewhere close to about 8,000 to 8,500 rupees per person per month. A part-time kind of a facility given by the co-working space to the tenant can be about 7,000 rupees per person per month. And you can also of course benefit by giving out your facility on nights and weekends separately which can be about 5,000 rupees or maybe even less than that for a month. So what could be a good growth plan for you if you're running a co-working space? Considering that it requires some great amount of investments going behind it. So today, frequent travelers or businessmen they would prefer to work or be housing themselves in a co-working location which has multiple branches and therefore if you have the investment you should actually look out for putting not just one single branch of a co-working space but multiple branches of a co-working space both within the city as well as in different cities. So if you don't want to go through the entire hassle of actually finding a location to putting up the co-working space today there are great programs. You can actually have an alliance or a franchise with an existing co-working big brand. There are few in India, there are a lot of them internationally also who are coming to India and that could be a great working business model for you and also if you would like to learn more about co-working spaces please visit us at www.entrepreneur.com and we would love to see you starting your co-working space and if possible we'd love to house ourselves over there too. Thank you for joining us today.