1. How is Vizag First Office (VFO) co-working space/shared office different from taking office space on rent?
The core mission of VFO is to promote entrepreneurship and flex working in Vizag. In that context, sharing office space can provide professional facilities at a lower cost than traditional office rents. Membership in VFO is different from taking furnished office space on lease. While there are some similarities in that you get a plug-n-play environment to start working, there are key differences in the concept, flexibility, conceptually and in the terms & conditions.
2. Can I make a long term booking of my VFO space?
Office leases are usually for medium to long term ie, one year to many years. Even a short term office lease is usually of 3 to 6 months duration. VFO membership is renewable each month for monthly membership. And daily for day pass holders.
3. Do I get a fixed area assigned to me / my team?
VFO provides a common area and amenities to be shared by all the current members. Unlike a lease, there is no specific area or square footage that is reserved for any single client.
4. If I sign up for a 4 member team, can a substitute member come in when the signed up member is unavailable or has left my company?
Membership is not seat count based. It is strictly member based and tied to that specific individual. If an individual leaves in middle of the month, that membership lapses. We issue an ID to every member and record the entry and exit of each individual.
5. Do you give refunds or charge prorated fees?
Given the low cost of the shared office charges, there are no refunds or prorated membership fee.
6. Is there a security deposit (e.g. 3 months rent) in case of leases?
No security deposit from members. In some cases a nominal caution deposit may be requested from the master contract signee.
7. Can I use the VFO address as my registered office address or official business communication address?
By default, VFO address cannot be designated as your registered office address nor designated as a business communication address. Exceptions, if any, will be at sole discretion of VFO management. If a client wants to use this address in business communication and desires secretarial service support, i.e., receiving mail, phone calls, etc., then separate fees will apply.
8. What are the benefits of using VFO space?
Our members need not worry about lease agreements or their capital used up in 6-10 month security deposits, applications for power or internet connections, hunting for furniture, etc. In short, our members can avoid all the hassles that anyone starting a new office faces, so that they can concentrate on running their business.
In addition to being lower cost, the main benefit of sharing an office is that it provides a flexible and dynamic environment for members involved and potential for sharing ideas and leveraging peer networks.
9. Is there ample parking space provided?
This varies by location. At the Ramnagar (near Hotel Green Park) location there is no designated parking space provided. There is some free space on the road outside for two wheelers and limited space for four wheelers. At the Daspalla Hills location, there is some designated parking space and ample street parking available.
10. Is it open 24×7?
This varies by location. The Ramnagar space was intended primarily for daytime operations(between 8 AM and 8 PM), Monday through Friday. However in special circumstances we can accommodate weekend or night working hours at additional cost.
11. How many hours of access is included in the default pricing?
The rates cover 9 working hours each day in a 5 day work week. Additional hours are charged at Rs 50/hour.
12. Do you conduct any events for entrepreneurs or facilitate mentor connects? Do you encourage the entrepreneurs present in your co-working space to organize such events?
This is an important element of fostering entrepreneurship and we have active plans to do so. We will also support any initiatives of the members in this aspect.
13. The rates seem very reasonable. Do you plan to increase the charges in near future?
As an introductory offer our prices have been kept quite low. If our costs increase, we may have to increase our charges. We will always aspire to offer the most value for money in the city. Profits are secondary. Our main objective is to promote entrepreneurship and flex working.