Symbiosis is quickly becoming the next major reception trend. This is a remedy for the lonely millennial who seeks true connections. The concept has enormous opportunities in India as it meets the basic accommodation needs of young urban immigrants.
As young and new-age Indian consumers are proficient in high technology and willing to adopt the concept of a shared economy, the rise of symbiosis is inevitable. Focusing on quality, technology-driven service and consistency is key to the industry.
Today, India has players such as WeLive (USA), Common (USA), You + (China). They are changing the way of life for Indian youth. Indian entrepreneurs got in touch with Nitin Sharma (RentRoomi founder) and Uday Lakkar (founder of CoHo) to understand the dynamics, effectiveness and future of the business.
Founded in November 2015, RentRoomi is a custom platform that allows users to offer or use a room when renting. Entrepreneur Sharma operates in Jaipur and is in Bangalore, Mumbai, Delhi, Pune, Noida, Hyderabad and Gurgaon. )jobs.
Startups can help the industry develop into a mass market
“It’s a bait for social life and promotes the culture of people living together in the subway. Roommates in the apartment have similar nature to roommates.
Roommates who may have similar social and economic status strengthen social networks and benefit from like-minded people. It’s the attraction of shifting with roommates, and housing changes make people more united, and the economy is a viable business,” Sharma said.
Sharma recognizes that India’s concept has a long way to go compared with the United States and China. He believes that the future of the country’s symbiosis is broad and full of hope.
Symbiosis means combining the vitality and spirit of the commune
“The rents of apartments in big cities are high and the deposits are the same. This adds to the cost of furniture. This is one of the reasons why young Indians choose to live together and look similar.” He said: “To live in a high-quality apartment with amenities in. ”
“The recent leasing market provides plenty of room for the creation of symbiotic destructive concepts. PGs and hotels are always there, but new symbiotic roles may appeal to young people.
Standardization, clumsy experiences and plug-and-play models, And attracting entrepreneurs is an unprecedented business opportunity. Jaipur entrepreneurs listed: “The success of the global peers in the spread of life – the idea of living together is to combine the vitality and spirit of the commune with commercial effectiveness. ”
The symbiotic space and the millennial generation resonate culturally
Start-ups in this area are constantly proposing solutions to the housing crisis. More and more emphasis is placed on the need for more miniature apartments. As new staff flocked to the city to seek more freedom, the apartment building was designed to accommodate longer stays, while the dorms were largely replaced by shared accommodation (Pier 2 Pier).
He said that startups are constantly striving to change their homes by creating brands that “resonate with the emotional and cultural aspects of millennials.”
Founded in 2015 by Uday Lakkar, a graduate of IIM Business Management at IIM Ahmedabad II, CoHo is a start-up company that aims to provide a great life experience for young Indian professionals. Currently, in Delhi, Gurgaon and Noida operate shelf trucks that serve more than 800 young people.
Entrepreneurship brings a new perspective to the old way of doing things
“For example, the taxi industry has been around for a long time, but companies like Uber and Ola bring a completely different level of service quality and technology in the industry.
CoHo is based on a challenging business culture with an innovative Culture to attract people to participate in community activities (comedy, game competitions, dog treatments, etc.). Intelligent technology (such as online concierge and smart lock) “Raka is sure. ”
“The market is already deep and the market size is 10 million US dollars. Lakkar said that the living conditions of young Indians have not been clearly resolved. Lakkar will integrate it under the brand umbrella. This is just a question of quality growth for the existing market.
Execution is still the biggest frontier of living together
“We are working on the same thing in a very advanced technology-centric approach that will enable technology to greatly support business operations, user acquisition and various aspects of residential services. He predicts: “Like other sunrise industries Similarly, it takes time to recover, but the appeal of rapid adoption seems to be great. ”