Profitable growth
- Having successfully achieve a 90% occupancy rate, 500-backed co-working space WORQ is eyeing 1 million in square footage! That’s 5X the current 200,000 sqft of space the team manages, holding 15% of market share.
- “We believe that WORQ is more than just a co-working space provider, it’s a catalyst for transformation. Our goal to reach one million sqft by 2027 is a testament to our commitment to nurturing a thriving business ecosystem in Malaysia. We’re achieving this through strong partnerships, like-minded investors, and a strong focus on building a vibrant community. Our goal is to make Malaysia a global hub for innovation and entrepreneurship,” Co-founders Stephanie Ping and Andrew Yeow shared.
- “In the long run, we’re aiming for 3 million sqft. This kind of growth will put us in the same league as those global cities that have extensive co-working space networks,” Andrew added.
- Stephanie shares that their big goal is to build an office network that’s flexible and scalable. “We’re more than just space providers, we are comprehensive business services providers. We handle everything outside of the core business functions, allowing companies to concentrate on what they do best. The rest can be outsourced to us,” she explained.
- How did WORQ achieve profitability? Stephanie shares:
- Experience in both the traditional industry and the startup scene. “You need a mix of both to have the whole gamut of knowledge before you can kind of have everything. We want everything, we want hypergrowth, but we also want profitability. We’re not willing to sacrifice any of that.”
- Startup founders must share their vision, mission, and plans with investors, and the rest will take care of itself. “Keep your discipline, and if it’s the correct thing to do, you just gotta do it.”
- Expand strategically and intentionally. “Why expand when no one needs your space? It’s a total waste of time. We secure the demand first, then we open the sites. When we need funding, then only we ask for it.”
- Get the full story here.
