EFC – Entrepreneurial Facilitation Centre

Hi guys,
Try to do some scuttlebutt on the coworking space to get a comparative understanding, there is a lot more to come and will also try to address lot of concern in the thread to my best knowledge

Big shout out to @Darshan_Gala for the help in Mumbai and accompanying me in hyd

I would also recommend to read the latest nuvama report on EFC lot of details there as well

EFC hyd office visit notes

1. 2nd floor is 1 year old, from 4th to 7th floor it is new set up
2. Total we have 2000 seating capacity and we covered almost 1400
3. xyz they have taken 800 seats but only 200 people would come and use it, so they pay rent for 800
4. Another company on this floor mostly they only paid rent and did not come and use here, cuz they had work from home
5. 1 manager cabin is treated a 4 billable seats
6. 1 week we will take for any kind of modification of a room and that would be free of cost
7. 2 wheeler parking is free on first come first basis
8. 24 complimentary hours every month to use the board room
9. 30 billable seat and approx 1000 sq ft
10. There is no carry forward for there 24 complimentary hours and if u use your 24hrs and need another 24ths that would cost about 7000 rs for entire 24hrs
11. A 37 seater room currently in notice period the company has taken their own office and only come once in a month
12. We have local vendors for any kind of customization to the room and it doesn’t take a lot of time since it is all POP, and we work on Saturday and Sunday since there are no client during that time and disturbance is least
13. Wifi 100-150 mbps per person
14. You can take a 24/7 kind of contract where your employee can come any time but the costing there would be 500 rs more than the normal one
15. Night shift would cost around 9000 rs which would be slightly negotiable
16. In this particular zone our pricing is lowest because our building is slightly old
17. Dry pantry is also not chargeable
18. In Begumpet EFC has one more building that serves one single client tech mahindra around 2000 seats.
19. We are in talks with TCS and google to give them space here in this location
20. We start with minimum 5 seats but that gets sold out in less than a week always because startup companies taken them quickly
21. Our building used to earlier come under grade A now it comes under grade B
22. The coffee vending machine can be used and that is free of cost
23. 2nd 4th 5th 6th and 7th floor is with EFC as of now,
24. In this floor (4th) we have around 550 seats and occupied around 257 and this floor is around 1 month old and 7th floor was made in august so around 1.5/2 months , we don’t allow food inside cabin because small insects come there cuz of small pieces of food
25. The entire building has one pantry in 10th floor and that has been developed by EFC
26. One client started with 6 seats then within one month, they moved to 16 seats and now they want more their business is UK based some coding
27. The EFC building is away from metro about 4 km, so for girl bus keeps coming which is free of cost otherwise 20rs one side charge by auto (I gave 70 rs to 2 wheeler rapido)
28. This company has moved from 30 seater to 80 seater
29. Workafella are coating around 12k per seat, Iceberg (we work) charges around 15k per seat, we get to know the rates from consultancy
30. 8500 per seat without GST for 1 seat in this building , negotiable
31. We hand over the AC remote to the client
32. 14 tier AC accommodates 35 people and 1 tier accommodates around 7 people
33. Every floor has 2 conference room one is 6 seater and one is 14 seater
34. The entire building also has around 2000 seats only
35. Our staff comes in 2 shift one in the morning and one in the evening so you will have 24/7 security/electrician/ technician, floor manager etc etc
36. This building is around 11 to 15 yrs old
37. All seats are manufactured by EFC and we are also selling them outside
38. 6th floor just recently closed a 60 seater client
39. One odd time if u delay your rental payment we can accept and will intimate you to pay on time next time but regular delays we don’t accept
40. We keeps sharing with consultants and IPC the availability of seats every month
41. EFC does not have their own marketing whatever comes is bought by consultants only
42. Our entire business almost runs on consultants only

Just for context this center was a multi client center so less than 35% is from consultants

EFC proposal

43. At the end she said we can also do at 7k to 7.5k per seat that should not be a problem at all

EFC 4th floor plan

Insight

1. The biggest insight is EFC makes large format offices meaning you can see the setup is in such a way that I can give 100 seats to one tenant by removing the walls (purple line)in a particular section whereas in AWFIS and regus I did not find this like in AWFIS the max office size was 28 seats and in regus largest room is 6 seater and even if u break walls you can go up to 25 max. So EFC does not go for small centers they generally go for the entire building

2nd + 4th + 6th + 7th floor total seats = 1933 seats occupied 1415 vacant 518 (some floors are very new)

REGUS (hyd)

1. aaa was the sales manager

2. We completed about 35 years of operation

3. 130 seats (one month old) 50 already sold .

4. They are based out of suchitra so sab 2km ke pas vale hi lete hai bcz yeh jaha h traveling is not easy metro, is far yaha pr auto ,cabs .rtc facility.

5. Common entry and exit for all the people totally controlled by dedicated access system

6. One dedicated team member will be there for help from mon to friday .Sat and Sun they dont work but access to your seat would be available 24/7/365 .

7. Common coffee and tea (1900 per person per month if not 15rs per coffe per tea

8. In 15 locations in Hyderabad

9. Complimentary access to biz lounge free of cost in any of their centers all over the world so about 120 country and 3000 location (example i took an office in Hyderabad but some of team mates are in delhi they can go to one of their offices in delhi and work in this area of that office

10. 2 medium board rooms (6 seater and 4 seater)1200 rs per hour (6 seats),any help they will help .1100 per hour 4 seater you need to reach out to the center team in the email

11. Size of the offices are from 2 seater,3,5, and 6 is maximum

12. Any regus space is from 2 seater to 10 seater max

13. Partition breaking is chargeable which is around 10k per wall breaking and the wall is made out of gypsum

14. Ac’s 24/7 365 days without any registration No extra money for it and remote is given to the client (this is doubtful as contract says something else)

15. 50mbps speed wifi.

16. 2 wheeler 100 slots (complimentary)4 wheeler first come first serve basis.(if dedicated chahiye 6600 per slot per month)

17. Yaha par bhi same casset ac same brand

18. The entire center only had one room with a manager cabin

19. One 8 seater community meeting room is there which can be used 2hrs free daily complimentary and for usage need to be intimated a day or half day before

20. How do they come up with per seat cost?-combination of 3 parameters .size, view, total seats combination of all these they come to per seat cost

21. Window seat with outside building view 55k seats for 4 seats

22. Without view 45k seats

23. 10-15k per partition so if somebody need 25 seats they will have to break 5 walls so about 65k partition cost

24. 24/7 access to office

25. Payment delay nahi chalega , if you pay late then we have late payment fees

26. Regus printer is 15 rs per print chargeable

27. We are a bit flexible as well if you will ask us a chair when you need one extra one we don’t charge for that and we will help

Regus D&B vendor notes

1. 14th of October is the opening and for about 2 floor it is 193 seats which is being taken by regus. This facility’s largest room is 9 seater, We started the work about 60 days back and the entire work would be completed in around 65 days and we are their all over India vendor (AK space solutions). AWFIS also we have done some work. Like for regus we have to finish the work in 70 days

Regus Proposal

Regus layout

AWFIS (hyd)

1. In This building if u are looking for about 50 seats which would be approx 2500 sq ft
2. I can switch on the AC beyond the permissible limit but there is a cost to that
3. If u want to take a space in a bare shell where you can customize it based on your need we would take about 45 to 60 days to do the interior
4. Usually my contract would be 42 months , 36 + 6 month notice and 6 month deposit with yearly escalation of 7% and your car and bike parking are additional to cost
5. Wifi is not chargeable and racq space is chargable
6. 8500 to 8000 closing per seat we can work out (there is a catch)
7. Normally we tend to create 4,6,8,10 seats anything bigger than that is build to suit, we create that as per the customer and requirement as and when required
8. This center has about 513 seats and majority is booked except one which has about 18 seats, 1 reception and 3 cabins and billable is 53 seats
9. Security is here 24/7
10. The total super built-up area is 2113. The calculation we take is approx. 42 to 43 sft for each workstation, hence the billable seats are 50 (have a look at the layout_below and count the seats)

Proposal

Layout

Insight

1. When you take up a large floor and u divide areas in rectangular shapes like in EFC layout it is like 4 big rectangle in each corner, then the space increases and u can divide offices very easily with a POP etc etc but the AWFIS center I visited number one they have lot of rooms and lot of walls + most of the room I saw are not rectangular so in this case I think u don’t end up using the space effectively. Like the above layout u can see is a bit slanting form the front and I think reception they were forced to make and some more offices I have tried to draw below + there is higher resistance for any kind of chang

EFC mumbai,

1. 30 sq per seat and manager cabin is considered about 4 seats
2. What we are looking for is a good lockin, For smaller requirement we slightly close on a higher side, like the 5,6, seats requirement we pitch around 13k and we close around 9.7/9.8k based on requirement and if it is 4-5 seats we pitch 15k and close around 11k
3. So for 11 seat we pitch around 12.5k and closing is 9.5k and we can do little bit more aage piche and we don’t charge for customization (this is just initial discussion once u do the LOI and go to final stages I am sure they can to 8.5k as well)
4. If u have scope of expansion I can bill u for 7 seats for first 2 months and then from 3rd month I will bill for 11 and for first 2 months u can use the whole premises
5. Parking is better to go with the developer if u go with us it is 2400 per car park but if u go to the developer he charges 1100, we charge this much because we did not take the slot
6. Tea and coffee is not included form our side but we can tie u up directly with good vendor and get u a good discount
7. Payment delay 2-3 teams in a year is not a big challenge but if done regularly it is not good we will take penealty
8. Meeting 4 seater room can be used 1-2 hrs on daily basis and big one can be used for 12-15 hrs in a month
9. We are very much flexible I can give u a lot of flexibility but I cannot mention all that on papers
10. BKC 1 is 20k sqt and this facility in kurla is 10k sqt
11. Most of the other players charge around 25k in BKC and we are closing at around 17k and BKC right now is at 100% occupancy and we have around 504 seats in BKC and in Kurla (this facility) around 350-380 seats we have, some of our clients are moving out of kurla as they want other location so we have seats here but all of this would be booked in about 1-2 month.
12. We will be the lowest cost provider in kural as well, Pheniq has their own facility as well and they charge around 12k (EFC office is in Pheniq mall in Kurla) AWFIS is slightly expensive of us and they are closing around 11k
13. If u take around 7 seats then we will also take up to 11k but I have to see how we can work out I will discuss with my team

AWFIS (mumbai)

1. They will have a 4 seater cabin available from 1st of nov if not that then on 15th floor they have 4 9 n 10 seaters by dec end till then they can accommodate in common area
2. Manager cabin is 4 seats
3. 15th floor they are constructing cabins they will have different configuration
4. They have started the presales of cabins on 15th floor as there are only 2 cabins that are going to be 5 seater
5. On 15th floor they are revamping only 70 seats
6. They are here since 2017
7. They bill seats wise
8. Per seat charges is 13k + taxes this is inside a cabin charge
9. N open area seats is 11k+ taxes
10. Meeting credits can be used pan india
11. There are 2 meeting rooms in both the floor
12. Per seat they give 1 meeting credit complimentary extra charges for extra usage of meeting room depends on the area of the meeting room like the 4 seater meeting room they have in this center they charge 800rs tax n 1200+tax is for 6 seater
13. Customization charges will be beared by us but 1st they will try to find a cabin according to our requirement if not then they will do the customization (In AWFIS if u want a customized office they would make that in a bare shell for u but once it is made post that it is more difficult as compared to EFC)
14. N we will get 1 car parking for 5+1 n this will be chargeable n 2 wheelers outside building is 500per month this Is with mcgm
15. They will adjust the delay in payment of 2 3 months
16. Dry pantry is complimentary tea coffee n water
17. Printing bnw 30
18. Wifi 100mbps
19. Monday to Friday timing is 8am to 8pm
20. Saturday timing is 8am to 5pm
21. 24*7 charges needs to be checked extra charge per hr is 200 per seat per hr this includes everything
22. Bt generally on sat in their office ppl work till 7 but on agreement they mention it open till 5 only this kind of adjustment they do
23. Ac remote will be with us

Nuvama report
efc-i-ltd.pdf (1.3 MB)

Disc – invested, biased, can be wrong