Case study for renting office space

June 08, 2021

Problem Statement:

People have trouble renting office space. The hypothesis is to conceptualize a product for them with appropriate features by understanding the domain space.


This spec discusses more about (WHY, WHAT, WHEN) needs to be considered. It does not discuss the technical implementation (HOW) for it.

Goals:

  • To simplify the trouble of renting office space.
  • Hasslefree booking of spaces.

User Stories :

As a user:

  • I want to rent a space, in order to accommodate my employees.
  • I want to book a space in the app. to avoid broker fees.
  • I want to rent a space in the main city, so my employees can commute easily.

Why build this product?

We are building this product to:

  • Save a huge amount of time. (rather than visiting every office space)
  • Simplify the process of renting the office space.
  • Get ideas about all the available spaces anywhere in the city.

User Interviews: (Based on personal survey):

  • Interacted with 4 users working in startups to get some insights.
  • I sent out a survey to startups and mid-sized CEOs.
  • 75% of potential users responded positively overall.
  • Ability to find and book an office space through be application, seems to be one of the most awaited product ideas.

OKR:

O - To simplify the process of renting office spaces.

KR1 - To build a web application by July 2021.

KR2 - To build a mobile application by August 2021.

KR3 - Generate 500 leads

Product Requirements (The What)

Requirement Priority Phase/Milestone Status
Both owner and tenant should be able to sign up and register in application. Must Have M1 Yet to Start
Users should login using their Business mail (Facebook login should not be given as it is B2C & ours is B2B) Must Have M1 Yet to Start
List down the cities where we are building the application (Chennai,Bangalore, Mumbai, Delhi) for now. Must Have M1 Yet to Start
Search bar for finding the area in a selected city. Must Have M1 Yet to Start
On clicking the search, properties available will be displayed with pictures. Must Have M1 Yet to Start
Have “Add to Wishlist” and the basic details like Sq.ft displayed outside. Must Have M1 Yet to Start
Show all the details and features on selecting the specific property. Must Have M1 Yet to Start
Include promotions and ads Should Have M2 Yet to Start
Cover the below mentioned pain points in the drop down “filter” option. Must have M2 Yet to Start
Insert an exclusive wallet and reward options in the application. Should have M3 Yet to Start
Concept of coworking features can be added. Should have M3 Yet to Start

Non-Product Requirements

Requirement Priority Phase/Milestone Team Status
Marketing: Promotions and ads. Must Have Post M3 Marketing Yet to Start
Marketing: Announce feature to the world through our social media accounts Must Have Post M3 Marketing Yet to Start

Assumptions & Limitations:

  • Office spaces would be available both in the city and outskirts. User has to choose the location based on the convenience. Depending on the employee strength, where most of them actually live.
  • Accessibility is one of the major concerns for the staff. Because the employees shouldn’t find it difficult to commute to and fro.
  • Nearby bus and train stations play a huge role, as many are comfortable with travelling in a public transport rather than their own vehicles.
  • Parking for both 2 wheelers and 4 wheelers is mandatory. Some employees always prefer commuting to the office in their personal vehicles. The accuracy of no.of vehicles parked in each category would become handy
  • The place where the office space is located should meet the safety measures. Employees safety can’t be compromised at any cost.
  • Nearby cafes and restaurants would be cozy for the employees to hang around on friday evenings or the weekends.
  • Office buildings, interiors and exteriors should be decent enough, since there might be occasional incoming client visits or discussions.
  • It’s good to have an extra 15-20% extra space, which might be helpful, when more employees get onboarded in the near future.
  • You can rent training rooms and other spaces according to your dynamic needs, pay on the go only according to the hours you occupy.
  • At last, each and every point mentioned above is based on the budget and the needs of the CEO.
  • Co-working spaces could not only save a good amount of money, but will also bring in amazing culture and building networking..

Good to have:

Foosball, Table tennis, Playstations have become common in many startups.

Having these will help employees to relax a bit.

Applying loan, Service agreement, Painting & Rental furniture.


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Hey, I am Anish Krishnan, an aspiring product enthusiast, with pinch of humour and sarcasm in every sentence I talk.
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