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IWG, Conjoinix sign 18-centre franchise deal for co-working centres

There has been a steady increase in office and co-working visits since the second wave of the pandemic ended. Photo: Mint

1 min read . Updated: 25 Oct 2021, 11:52 AM IST Madhurima Nandy

The announcement follows an eight-centre development with Jaipur Bulls in Rajasthan and development of four centres with HAND Group in Punjab, in July this year.

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Bengaluru: Flexible workspace operator IWG has signed a franchise deal with Chandigarh-based Conjoinix Technologies, with an 18-centre partnership.

This will expand IWG’s presence in Delhi-NCR, Haryana, Uttar Pradesh, Jammu and Kashmir and Gujarat.

The deal will bring the number of IWG centres to 130 locations across 25 cities.

The announcement follows an eight-centre development with Jaipur Bulls in Rajasthan and development of four centres with HAND Group in Punjab, in July this year.

Tie-ups with franchise partners is in line with IWG's approach to scale up and fulfil the need for flexible, local office spaces as firms of all sizes embrace hybrid work patterns.

"...Our franchise model provides partners with one-of-a-kind opportunity to make a lucrative investment that blends market-leading experience with strong local knowledge. We see Conjoinx as the perfect partners to increase our presence across north India. Going forward, IWG plans to encourage significant developers from India, Sri Lanka, Bangladesh, and Nepal to join as Franchise partners," said Harsh Lambah, country manager India, vice-president-sales, South Asia.

Lambah added, “Our data shows a steady 12% month-on-month increase in office and co-working visits since the second wave of the pandemic ended and has been very prominent across our locations in tier II and III cities. We expect this trend to continue increasing as we move into Q4. IWG is seeing increased demand from customers seeking professional workspaces that can be scaled up and down as needed, while also offering the flexibility of booking meeting rooms, or co-working spaces by the hour or day, dependent on their needs."

“We anticipate a significant increase in demand for flexible co-working spaces across the Indian market as companies lean towards a more employee-centric approach. For us, a partnership with IWG was the logical step towards meeting this demand," said Neeraj Bansal, director, Conjoinix.

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