Flex Labs Share Discussion Threads

[rew8080] 27/12/2023 13:39

Interesting AI company; one to follow

[energyi] 08/4/2002 15:13

Any comparable concepts out there?

TESTING THE WATERS... HERE'S MINE:

BUSINESS CAFES, A place between Home and Office

This paper is to describe a business opportunity which I call Business Cafes (or "BC's"). I believe it to be recession proof.

At the moment, both the high and low ends of the SME business start-up market are being well served. Customer needs in between are not being adequately addressed. Of particular interest, are small businesses which can be largely run via the web and/or branches of businesses based elsewhere. Additionally, the trend towards "hot desking" and remote working is creating a growing need for flexible temporary working environments, without the commitment of renting a full office or even a desk in the same location on a day-to-day basis. All of these needs would be served by BC's.

I have not done any substantial research of the size of this market, but I believe it to be sizable and growing. And a recession, if it comes, should increase the growth rate. Many of those thrown into a weak job market with a redundancy payment in hand are likely to be driven to establish their own businesses. Some will turn to businesses that can be built and or enhanced via the web. An element of the strategy is offering work opportunities to those who are within short commuting distance of each BC.

A new business can be started from home or from an internet cafe, and at some stage it may grow to a stage where it can rent office accommodation, perhaps from a company such as Regus or a competitor. But what about the intermediate steps, those between the Home and the (permanent dedicated) Office?

As a Proprietary Trader - sometimes wrongly called a "day trader" - I have almost everthing I need at home: a computer, various software programs, a telephone, and an internet connection. This activity is a microcosm of other SME start-ups, and especially those with a heavy reliance on the internet.

My business requires me to follow the markets, identify trading opportunities, and then execute. Previously, I could do this by reading the newspaper and other hard copy publications, and then phone a broker. But the old fashioned way is slow and expensive, and forces me to give away a potential competitive advantage, the ability to respond quickly to intraday news flow or pricing opportunities. In the past, one had to be inside a large bank or trading firm to have access to the minute-to-minute opportunities. But this is no longer true. The internet provides an almost-level playing field. I follow news and price movements in real time, and respond by executing transactions via the internet. Sometimes, I attend meetings outside my home to hear about new opportunities and to meet management. The ability to drop into an internet cafe, before and after a meeting, increases my flexibility and enables me to travel more widely, even to foreign countries, without worrying about missing trading opportunities.

Developing my proprietary trading over the past few months in this fashion has left me thinking that there may be a business opportunity in developing an enhanced internet café, with premium services at a premium price. These new locations, which I call Business Cafes, should be able to grow and service what I believe will be an increasing number of people who conduct their business not only at homes or offices, but would like to conduct their business at some place in between.

Some of the problems I have faced may point the way towards what premium services are required.

At the moment, many alternative locations provide an internet capability which is delivered in a haphazard fashion, and is often unreliable. I also have difficulty in hosting meetings when I need to do so. I must rely upon restaurants, pubs, coffee bars, hotel lobbies, etc. This is acceptable for the time being, but limits my ability to grow my investing business into something more credible. When conducted my trading solely from home, I found that the confinement within the same four walls as my living space cut down on my productivity and ability to concentrate, and limited my social opportunities. So I sought to take my business outside my flat.

I was not ready to spend £1000 or even £500 per month for a desk within an office environment. So I opted for the occasional use of a nearby internet cafe, for which I pay (only) £10 monthly for unlimited usage of a computer and a web connection. But I am finding that it does not ideally suit my needs. Like others in a similar situation growing a new business, I am looking for an intermediate step between Home and Office, which would provide me with some of the benefits of a full time office, without committing me to the full time expense. The solution would be a BC.

How would this differ from an Internet Cafe?
First of all, to make it viable for the service provider, it would be priced differently. The premium services that it offers would permit a higher tariff. And for the user this new service would have to be substantially cheaper than a Regus serviced office. But can it make money? I think it can, but it will have to find a way to offer these premium services at a cost far below what it would cost Regus-like company. The key thing in doing so, is to limit the number of employees at each location, to maximize the length of the revenue-generating day, and to get away from the very high rents that are paid for top city locations. I will have more to say about these points later.

Services that many may need which are not offer by most Internet Cafes and could be offered by a BC include:
1. FAX, copying, and printing
2. Stationary, card printing
3. File storage (virtual drives on the wed, accessible from any location)
4. Meeting rooms
5. Telephones services
6. Secretarial services
7. Training, legal advice,
8.

The above services would not necessarily be offered in every location at inception. It will take time to find customers and grow the market. Indeed, a viable start-up model might be to begin with a typical local internet café and grow it into a BWC as the new customer base is cultivated and the need for these services is stimulated and revenues from add-ons grows.

(Note: Anecdotal Evidence: I have observed a flow in the reverse direction, away from more services, at the High Street Kensington branch of Easy Everything. They started off providing services like printing, CD burning, discounted long distance calls, etc. Originally, the location had a staff of 2-3 people working behind a counter, occupied with selling tickets and assisting with the ancillary services. In addition, within the same location there is a 1-2 person coffee counter which is run as a franchise by Nescafe. The coffee desk, when asked for change, claims to be a separate business. However, certain staff are seen to be rotated between the internet counter and the coffee counter. Earlier this year, the internet counter was virtually shut down. The time-selling function was taken over by three ticketing machines machines. Ancillary services, like printing, have been dropped. Computer maintenance is performed by an engineer who is often hard to find, and must be contacted through the Coffee Counter. // Why the dropping of the ancillary services? My belief is that …

Not all at once, start with only some of these, build the others as the customers are built up. Where possible, the services can and should be contracted over the web. For example, part-time secretaries might register with each BWC location, and offer to do typing and provide other services on an occasional basis. The customer would do the contracting over the web, and the secretary would pay the BWC a share of the income she receives.

[energyi] 08/4/2002 15:12

Here's one, called Flexy Office


THEIR INTRODUCTION:
Formed in Italy in 1995 Flexy Office, originally provided serviced offices in a prestigious business district of Milan. The available space of the companies considerably sized building was quickly utilized, however Flexy continued to receive high number of inquiries about renting office space. Rather than turn these customers away, an alternative was to supply the customer with a 'virtual office', whereby the client had their calls being answered by a designated secretary, their mail diverted to them and the ability to host meetings in one of the business centers boardrooms on an hourly or daily basis. When a permanent office became available the client would be informed however in a large percentage of cases the client expressed a preference to keep the existing arrangement. The combination of flexibility, versatility and cost far outweighed being tied to a conventional office structure.
LINK:
UNQUOTE

Anything for Online Traders?

[energyi] 08/4/2002 15:06

A Work Space between Home and Office:
it could be very useful. Anyone seen anything like this.
Most Internet Cafes just don't make it... full of teenagers
or 20-somethings sending emails to Australia or South Africa