Welcome to Entrepreneurial Facilitation Center India’s (EFC), where we explore the dynamic world of coworking spaces and business innovation. EFC, known for its exceptional coworking spaces, is redefining the way companies operate with its meticulously crafted office interiors and unparalleled amenities. As it is said, the biggest business is by idea only. No, that’s wrong; it’s only by ideas and execution execution that it becomes big business.
Idea for Starting a Business
One basic idea can change your life. This is the story of two Desi guys with brilliant execution, not to forget the hard work they did to make the company. Umesh Sahay is the co-founder of this company. In 2005–06, he developed software and services that was not very popular in India. He did it earlier only to sell software in the Indian market. He failed in business there; in the 2008 crisis, he was able to capture the Indian market, and in 2010, he sold his software business to an international company.
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While searching the market, he found that in a software company, there are two costs: one is office space, and the other is employees. And the employee work company handles the other office space, which is solved by Umesh. While searching for an office, the company has to look after space, its design, maintenance, security, and much more. That is really tough for the company. By looking at this Umesh sahay, Abhishek Narbaria founded a company in Pune in 2012 by the name of Entrepreneurial Facilitation Center (EFC). Do everything a company does to find an office. By doing so, they make RAAS (Real State as a Service) a single-point billing system for the company, which includes everything like furniture, wifi, printers, ac, canteens, etc. One common bill for everything in business.
By selling corporate offices to companies per seat. Yes, you heard right, per seat. Up until 2014, they were working with 300 seats, and now they are working with 30,000 seats in 2024. In just 10 years, 100x business growth. The monthly rent they are earning is 18 CR. And in a sq ft area of 1250000, they are managing. They are working in 7 states and 7 districts and working with 500 clients. In 2019 business turnover was 12–13 cr. Now the turnover in just 9 months, i.e., 2023–24, is 173 CR.
EFC has an in-house team that looks after everything like architecture, engineering, and much more. no vendor they have to hire, and all the equipment they have ties up with big companies. By doing this, quality, cost, and active management drive their system. Forword integration decreases costs, and a revenue model is made. By doing so, they also entered into B2B business and built houses and other offices to increase revenue. And that was not enough; Coampany has also entered into B2C luxuary furniture also at affordable rates. They help start-ups and big corporations also to serve offices. EFC has made them asset lite model.
The company has a loyal clientage by which means they sign a contract with them for a longer duration with seating capacity as well. They have a majority of clients in banking, financial services, insurance,insurance and start-ups. They have a tie-up with big real-state agents as well. Doing well in their business.
