Market Office for lease in Q3/2020 – Ho Chi Minh

In Q3 / 2020, there was no new supply in Ho Chi Minh market office for lease, the supply continued to increase, putting pressure on the whole market. The negative impact of Covid-19 and economic instability weighed heavily on the need to rent offices in HCMC. Due to the constant supply, most landlords seem to be confident with the current tight market and limited future supply, rents remain stable but there are short-term promotions to Attract and support tenants this time.

Supply: Q3/2020 The market Office for lease is still scarce in Ho Chi Minh

In Q3 / 2020, there was no new supply, supply growth continued to put pressure on the whole market. By the end of 2022, the supply was estimated to increase by an average of 4% per year. However, the Grade A & B vacancy rate is still below the 10-year average of 9.8%. As the supply remained unchanged, the occupancy rate in this quarter remained high.

By the end of 2020, the market will welcome more than 70,000 square meters of Grade B office for lease, mainly contributed by non-CBD offices, bringing the total supply for Grade A & B to 1.5 million square meters. Demand is expected to slow across the segment until the virus is stopped globally. Consequently, buildings that have a lot of vacancies may reconsider asking rents and leasing strategies to maintain the required capacity.

Demand: Demand is slow across segments

The negative impact of Covid-19 and economic instability weighed heavily on the need to the office for rent in HCMC. Grade B, with negative net absorption across existing buildings, has seen an increase in vacancy rates. Grade A office for lease, although backed by companies with a lot of money, are also under pressure.

The net rental real area was negative for the past three quarters, paid by tenants, and narrowed the premises. Several new buildings in both segments have had difficulty filling spaces due to the shutdown of new setup requirements and tight budgets for expansion and relocation.

Rental price: Rents have remained stable

In response to Covid-19, most landlords have kept rents steady q-o-q since the first boom in Q120, as they still seem confident in the current tight market. and limited future supply hopefully. However, short-term promotional rates are offered by buildings to attract and support tenants during this time.

After the pandemic was under control, businesses working in industries that were severely affected by Covid-19 became more cautious about renewing their contracts. Renewal contracts can be prepared for the short term. During the lease review period, the tenant is required to maintain the rental rate or the fixed rate for the next period. However, it should be noted that some newly completed buildings that are pressured to fill spaces tend to support tenants as much as possible. Rental offers such as free rental periods and flexible negotiation terms continued to be more popular this quarter due to a weak reception rate under the influence of Covid-19. However, in the long term, this will not last long as the market will soon recover thanks to the positive economic outlook.

The tendency of Office for rent in Ho Chi Minh

Due to the aftermath of the Covid-19 epidemic and the tendency to move away from the center, Grade B buildings quickly became a highly sought-after product for most small and medium enterprises and large enterprises.

Due to the impact of the COVID-19 epidemic, some tenants from finance, banking, technology, and newly established foreign SMEs have moved from Grade A to Grade B, or even lice look for buildings that have lower rental costs. There are tenants with abundant financial potential to move into Grade A office buildings, but the transaction volume is much less than the same period.

Prospects

Despite the impact of Covid-19, the continuing inflow of FDI into Vietnam is evidence that foreign firms, namely Korea, Japan, Hong Kong, and even Europe are continuously increasing. enter the Vietnamese market and they are potential tenants for Grade A & B segments.

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/market-office-for-lease-in-q3-2020-ho-chi-minh

Read Vietnam Economy Weekly News

Market Office for lease in Q3/2020 – Ho Chi Minh

In Q3 / 2020, there was no new supply in Ho Chi Minh market office for lease, the supply continued to increase, putting pressure on the whole market. The negative impact of Covid-19 and economic instability weighed heavily on the need to rent offices in HCMC. Due to the constant supply, most landlords seem to be confident with the current tight market and limited future supply, rents remain stable but there are short-term promotions to Attract and support tenants this time.

Supply: Q3/2020 The market Office for lease is still scarce in Ho Chi Minh

In Q3 / 2020, there was no new supply, supply growth continued to put pressure on the whole market. By the end of 2022, the supply was estimated to increase by an average of 4% per year. However, the Grade A & B vacancy rate is still below the 10-year average of 9.8%. As the supply remained unchanged, the occupancy rate in this quarter remained high.

By the end of 2020, the market will welcome more than 70,000 square meters of Grade B office for lease, mainly contributed by non-CBD offices, bringing the total supply for Grade A & B to 1.5 million square meters. Demand is expected to slow across the segment until the virus is stopped globally. Consequently, buildings that have a lot of vacancies may reconsider asking rents and leasing strategies to maintain the required capacity.

Demand: Demand is slow across segments

The negative impact of Covid-19 and economic instability weighed heavily on the need to the office for rent in HCMC. Grade B, with negative net absorption across existing buildings, has seen an increase in vacancy rates. Grade A office for lease, although backed by companies with a lot of money, are also under pressure.

The net rental real area was negative for the past three quarters, paid by tenants, and narrowed the premises. Several new buildings in both segments have had difficulty filling spaces due to the shutdown of new setup requirements and tight budgets for expansion and relocation.

Rental price: Rents have remained stable

In response to Covid-19, most landlords have kept rents steady q-o-q since the first boom in Q120, as they still seem confident in the current tight market. and limited future supply hopefully. However, short-term promotional rates are offered by buildings to attract and support tenants during this time.

After the pandemic was under control, businesses working in industries that were severely affected by Covid-19 became more cautious about renewing their contracts. Renewal contracts can be prepared for the short term. During the lease review period, the tenant is required to maintain the rental rate or the fixed rate for the next period. However, it should be noted that some newly completed buildings that are pressured to fill spaces tend to support tenants as much as possible. Rental offers such as free rental periods and flexible negotiation terms continued to be more popular this quarter due to a weak reception rate under the influence of Covid-19. However, in the long term, this will not last long as the market will soon recover thanks to the positive economic outlook.

The tendency of Office for rent in Ho Chi Minh

Due to the aftermath of the Covid-19 epidemic and the tendency to move away from the center, Grade B buildings quickly became a highly sought-after product for most small and medium enterprises and large enterprises.

Due to the impact of the COVID-19 epidemic, some tenants from finance, banking, technology, and newly established foreign SMEs have moved from Grade A to Grade B, or even lice look for buildings that have lower rental costs. There are tenants with abundant financial potential to move into Grade A office buildings, but the transaction volume is much less than the same period.

Prospects

Despite the impact of Covid-19, the continuing inflow of FDI into Vietnam is evidence that foreign firms, namely Korea, Japan, Hong Kong, and even Europe are continuously increasing. enter the Vietnamese market and they are potential tenants for Grade A & B segments.

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/market-office-for-lease-in-q3-2020-ho-chi-minh

Read Vietnam Economy Weekly News

Samples of Office Rental Contract

office rental contract is one of the important documents for office tenants. Therefore, during this process of legal procedures, quite a lot of consumers ask the question of whether it’s necessary to notarize the office lease contract or not?

Is the office lease contract notarized or not?

In fact to answer whether to notarize an office rental contract or not Office space still advises you to form a contract and notarize it because it can ensure your legitimate rights and interests. to raised understand, below Office space would really like to offer the precise advice as follows:

Office lease contracts are personally owned

According to the newest regulations, from January 1, 2017, supported the provisions of the Law on Housing 2014, the Civil Code 2015 for housing lease contracts, house lease contracts for the aim of Other (Renting a house for office) isn’t required to be notarized or authenticated, this is often also agreed altogether relevant legal documents.

Thus, with personally owned office lease contracts like renting a house for an office, your business isn’t required to notarize and authenticate the contract.

For office lease contracts with organizations with status

In case of renting an office of a legal entity that has the function of leasing office or in other words, the enterprise leases office in professional office buildings, the office lease contract doesn’t got to be notarized. , authentication. Because as prescribed, both the lessee and therefore the lessor have full status and have met the conditions to issue invoices as needed and are governed by relevant laws within the operation. commercial activity.

Summary: supported the present system Regulations on office rental contracts show that each one case of office lease as a private working as an office or renting an office from a leasing organization are all Not required to try to notarization or authentication contracts.

However, it’s from the attitude of law, terms, and legality that are still practical, you ought to still notarize to enhance the legality also because the binding on the lessor. Because there also are many cases of disputes or changes to the contract or either party doesn’t suit the terms of the contract … Thus, ensuring the legal rigor will bring more peace of mind. for office tenants.

Contract templates and procedures to think about when renting an office

To rent an office like that’s not only about finding an appropriate office and meeting all the standards, but it’s also important that you simply need a contract with clear terms and agreement. benefits of both the lessor and therefore the lessee. And moreover, the contract also ensures the right implementation of legal procedures that the state requires. So when renting an office to concentrate on legal procedures? Let Office space undergo the procedures that you simply got to concentrate to!

Renting room contract

Office lease contract may be an agreement on the terms, interests, and responsibilities between the 2 parties and therefore the lessor, this is often also a binding document between the 2 units. And like all contracts, the simplest office lease should have a lawyer double-check to make sure accuracy also to make sure the most peace of mind for both parties.

Most lawyers can review a lease in but an hour, the value of services to lawyers isn’t large, so this is often the simplest thanks to avoid unnecessary risks and disputes. Future.

• Some sorts of contracts:
• Sample house rental contract as representative office
• Application for Renewal of Office Lease Contract
  When the contract is over, the building management usually sends you beforehand a notice to renew the contract about 1 month beforehand for you to understand.
• Dispatch on office lease termination
  At the top of the office lease term, if the enterprise doesn’t want to continue extending the contract, it’s necessary to form a letter to terminate the office accept order to liquidate and terminate the office contract.
• Dispatch early termination of office lease contract
  However, there also are many office tenants who want to unilaterally terminate the office contract for several reasons such as: the dimensions of the staff changing the premises can’t meet enough working space, the changing business field needs not. new space, or it might be thanks to act of God such as: dissolving business, office block changing business purpose … In these cases, you would like to organize a letter to terminate the lease contract. room before time.

You can make this letter form and clearly state the explanations for termination and therefore the settlement plan at the top of the contract.

Virtual office lease form in Rental Contract

Currently, the necessity to rent virtual offices is large to optimize costs, especially for little businesses and newly established businesses. A virtual office may be a new sort of office and has clear differences compared to traditional offices. Therefore, there are separate forms, terms, and agreements during a virtual office lease.

In the virtual office contract, it’s also necessary to specify the terms of rental costs, rights, and responsibilities of both the lessee and therefore the lessor. At an equivalent time, clearly define utilities and services at the office.

Sample office lease contract

Most buildings allow tenants the proper to sublease offices if they are doing not spend the space. And this is often also laid out in the contract consistent with the agreement between the tenant and therefore the building owner.

An office leaseback must satisfy the dimensions of the sublease operation and fully declare tax. And to make sure the rights, responsibilities, and obligations between the parties when renting an office, it’s imperative to possess a contract to attend for the lease of the office.

The form of office lease is drafted on the idea of the newest regulations of the 2015 Civil Code, and therefore the latest business laws as of July 2017. Like most Model contracts and office subleases offer all options counting on the circumstances and nature of the acquisition.

Factors to think about in-office contracts

When making an office contract, you ought to also concentrate on every detailed term to avoid misunderstandings and affect the operations of the business also because the total costs to be paid later or cause disputes. unnecessary. a number of the foremost important factors that require to be considered when signing a contract are:

Types of expenses laid out in the contract

Rent and office rental are among the highest criteria that require to be clearly prescribed within the contract. Because the office operating expense includes not only the rental price but also many other fees, you ought to clearly consider each item within the rental cost to avoid confusion and need to incur another amount outside the rental budget.

Rent area and rental calculation method

Usually on the contracts often specify the office space and rental rate, usually calculated per square meter. But there also are many contracts that provide footing rent and this rate is often confusing, because it may include non-useful gaps so check out the entire amount to pay to calculate the value. standard fees and reasonable benefits between the 2 parties.

Office lease term

Look at each contract features a specified lease term. For tenants who often want to rent for an extended time at a time or lease for a brief-term counting on needs, however the building specifies the minimum length of a contract. To avoid confusion and to pay compensation thanks to voluntary cancellation, you ought to agree and clearly state the terms of office lease terms also as compensation conditions if you voluntarily terminate the contract early.

Site repair problem

Depending on the building which will allow tenants to repair the premises or not and to what extent. So within the contract, there should be a transparent agreement to avoid unnecessary disputes and compensate later. And your repair plan should be approved by the building management before signing the contract.

 

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/samples-of-office-rental-contract

Read Vietnam Economy Weekly News

Things You Need To Know About Franchising To Business

The strong development of the economy opens up more and more opportunities and ways to make money. Instead of spending a lot of time researching and developing a brand, a completely new product like the usual business process, franchising allows investors to make money quickly from existing brands. Build first from others build first. Of course, to be able to run a franchise business, especially the franchise of the F&B industry, developers still need a long way to explore and develop by themselves.

1. What is Franchising To Business?

Franchising can be understood simply as allowing an individual or organization to trade a product, a model, a way of doing business based on the form and mode of business already in the market.

In this transaction, the franchisor provides the franchisor’s products, formulas, models, and business methods. In return, the franchisor is required to pay a certain franchise amount or a certain percentage of the sales revenue from the product. Depending on the case, the brand, the circumstances in which these terms of exchange will be flexible depending on the agreement of the two parties in the contract.

2. POINTS TO REMEMBER WHEN DECIDING TO BUY BUSINESS RIGHTS

Market research

Whether starting a new business or buying a sale, the first thing any shop owner needs to do is do market research. Is the type of product you are planning to buy for a franchise appropriate for the market? Is this brand actually as good as you think it is? Is this place, space, and scale suitable for diners in this area? How much is the payback time and can you accept this?

Legal contracts, franchises

If you do not want to lose a large amount of money to buy a franchise, then a series of stores of the same name will open up to compete without spending any money, make sure that the trademark is copyrighted, protected by law.

Costs increase

In addition to the cost of buying the franchise as well as the percentage of revenue to be paid for the brand, businesses also have to bear any additional costs. In addition to the costs that every store has such as premises, equipment, staff … stores also have to spend more to ensure consistency with the brand such as decoration, equipment, installation as well as materials. whether to buy genuine

Consistency and lack of creative freedom

Buying a franchise means that the business follows a predetermined direction and framework. The owners do not seem to have the opportunity to develop or innovate anything in the business. If you change something on purpose, you sometimes run the risk of disqualification or trouble with terms.

Risk and competition come from another store

For brands, a brand is a commodity they can sell to many people. They sell to you, and they will probably sell to dozens or hundreds of others. Competition between stores in the franchise chain can be a headache for developers.

Source: vnfranchise

To find more about guide for business and investment in Vietnam, you can click here: https://lookoffice.vn/economy-business-investment/guide/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/things-you-need-to-know-about-franchising-to-business

Read Vietnam Economy Weekly News

Why, How, And The Cost of Opening a Coworking Space

Now Coworking Space is very trendy. So if you want to start your business, a place to work is really important, and here tips that can help you to Know-how to opening a Coworking Space.

What is Your Vision, Goal, or Motive to start out a Coworking Space?

Behind every business initiative, there’s a motive, a vision, or a goal. Which drives the entrepreneurs and business owners to figure for it wholeheartedly. You need to determine what’s your vision and goal before opening your coworking space. WeWork is one of the most important coworking operators within the world and that they have just one mission. “Create a world where people work to make a living and not a living”. You need to make a decision about which sort of community does one want to create in your workspace.

There are some coworking spaces that cater to a different type of goal. They want to eradicate the monotonous office culture and help the people interact with like-minded people. There are a few coworking spaces that have opened up childcare along with their workspace. Opening a coworking space like these will force you to unravel tons many other problems alongside a serious one.

You need to seek out out what inspires you. For instance, If I’m to open a coworking space within the future, my motivation would be community engagement. With my coworking space, I will be able to compile people from various distinct backgrounds and allow them to sit with one another. Imagine the number of ideas that will be running cumulatively through their minds. Sometimes people have bright and efficacious ideas a few startup or a replacement business. But what they need is some advice or support going forward. What is better than finding that support right beside you?

Out of all the motives, opening a coworking space with a profit motive is that the easiest thing to try to do. All you would like to try to do is invest right and at the proper time, the returns are going to be efficient and promising if you strike the proper chord.

No matter what proportion of money you earn or what percentage more spaces you determine. Ensure that you are doing not dwindle from your vision, whatever it’s. Your vision also depends on your target market. If you would like to cater to artists solely, then the business plan and your vision must be aligned with them.

What you would like to think about before opening a Coworking Space?

What does one search for before opening a business? The answer may vary consistent with differing types of companies, but the core principle is the same. It is which sort of business has the very best scope to develop within the future. And starting a coworking space business is that the best venture that anyone can consider immediately. The whole wide world has been stunned by the potential of this propitious business model. So you’re on the proper track with opening a coworking space. What else is required during this is what we are getting to mention going forward.

Location: checking out a location for opening a coworking space isn’t easy. Since it’s a replacement business you’d not want to spend an excessive amount on rent. So, renting an area within the premium region of the town isn’t always advisable. What you can do is target such a location that is easily approachable and will come at a lower cost. The trick is to seem for not a replacement building and rent some space area here. You can find a 2000 square feet area for fewer than $750 within the city’s area which is first of all faraway from CBD. Almost all the commercial properties have a norm for security and two advance rents. So, your initial rent cost will be Rent*3. You can choose your own workspace area as per the amount of members you would like to start out with.

Also, your choice of location may change if you’re catering to some niche coworking business model. A startup-centric coworking space should reside almost a university or a well-liked college. A coworking space looking to possess members from the legal profession should be operating from the world almost the courts than on. I guess you got the point.

Community: Sure your coworking space will have world-class amenities and top-notch seating arrangement. But it all comes right down to the sort of community you’re working with. If people needed an environment that is akin to the everyday office then, there is no meaning to opening a coworking space. Breeding an active, efficient, and collaborative community in your coworking space is what must be done. When it involves a coworking space, you would like to curate and attract like-minded people on your own. The challenge is starting a coworking space is not a posh area and then inviting people.

You can hold coworking events, workshops in order that people may come to understand your space. Building a community will not cost you much. You have the entire social media at your disposal and you’ll save on advertising costs. You need to know that you simply are establishing a coworking space from scratch. Hence you’ll receive members who were earlier performing from home or are a restaurant. These people are trying to find avenues where they will specialize in their work and concentrate. What you offer them in terms of a community and therefore the environment will make tons of difference?

Neighborhood: Neighborhood matters because your members search for the encompassing areas. Apart from public transportation sources, they’re going to got to know whether there’s enough parking lot or not. Also, opening a coworking space on a busy street that’s replete with the bustle of the town noises isn’t an honest pitch.

You need your own team:

Starting a coworking space is like running a business. You will need some people by your side who will assist you in setting up everything. Here you have three options. One option is being a one-man army and do everything yourself until your space is up and running. It will save you some money. On average, a Community Manager will cost you around $1500-2000 per month.

The second option when opening a coworking space is to rent people that will work their specific roles and have prowess in their field. This option will cost you a touch on a monthly basis, but the results are going to be promising. You will have one person dedicated to handling the marketing aspect, the opposite person is taking care of the sundry services within the space.

Lastly, you’ll outsource a number of these roles and thereby economize and workspace which may be further rented out.

Out of the three options, having dedicated people to figure their roles will go an extended way in helping you run your space. For those of you thinking that you simply can handle it on their lonesome, starting a coworking space business isn’t like developing a mobile application. On the contrary, if you’re working with people dedicated to their tasks, things are sure to run smoothly.

You need people by your side, there are tons of things to manage. Here are a few of them:

• Holding events
• Accounts
• Community build-up
• Looking after the memberships
• Ensuring that the members get all the facilities
• Looking after the member’s complaints
• Ensuring that there are enough snacks and occasional for the members
• Looking towards the cleanliness of the workspace
• Promotional activities
• Keeping a record of everything

These are a number of activities that are necessary for opening a coworking space. Once you’ve found out and other people start coming in, you’ll have tons on your plate if you’re working alone. So, it’s always beneficial to rent some people that will assist you in running the space successfully.

Talking about the initial support you’ll require a community manager, an operations manager, and an administrative manager. Collectively, these three people will cost you around $4000-5000 per month.

You may be wondering that Alex Hillman started his first coworking space with only $6000. But that was before 2012 when the trend of coworking still anew and other people were excited to experience coworking. This saved him a lot of costs and other expenses which are necessary today. The events and workshops were very rare.

Facilities and Services that are important:

What you provide to the members in your coworking space also resonates together with your mission and goal. For a coworking space focused on assisting startups, it is necessary that you provide the services and amenities that will help them develop. An example of this is often conducting workshops spanning from topics that allow the startups to deal with their issues.

There is no possible end to the services and amenities which will add a coworking space. Since it’s not just a workspace, you’ll add n number of elements to form your coworking space attractive. But, it all depends on your budget. On a decent budget, you ought to specialize in just the essentials and necessary amenities and services.

These are:

• Furniture: Before opening a coworking space, you would like to determine the kinds of membership that you’ll provide. But there are two sorts of memberships that each coworking space will have. These are dedicated desks and the hot desk options. In a 2000 square feet area, you’ll accommodate around 50 members. This means that you simply will need a minimum of 50 ergonomic chairs and a few desks counting on their usability. For the dedicated desks, you’ll need space for storing, and for others, you’ll need separate storage racks. If the budget allows you’ll spend some money on interior decoration which can make the workspace more soothing to the eyes. It is evident that when an individual is functioning during a beautifully built workspace, the work seems more fun. Another option is to incorporate standing desks in your coworking space. The standing desks won’t cost much and provides a flexible characteristic to your workspace.
• Utilities: most important is the internet and printing facilities. When opening a coworking space you are doing not want to try to go away with these two amenities. Without the internet, you cannot expect to run your coworking space let alone allowing the members to work. Another important service is coffee. Believe it or not, most of the members will invite coffee very first thing once they come. Coffee is that the human fuel and each coworking space should serve coffee. Then there’s the supply of electrical outlets to each coworking station. Lastly, you’ll got to arrange for washrooms and water outlets within the coworking space design. The cumulative expense on making washrooms and providing electrical outlets comes bent to be around $10,000. This cost is summed after including only what’s necessary for opening a coworking space.
• Temperature Control: The heating and cooling systems also are necessary as per the climate during which you’re opening a coworking space. For a 2000 square feet area, the twin HVAC system will cost you around $4000-5000. And these central solutions are essential if you would like the members to figure during a comfortable and cordial environment.

Services that you simply can initially leave when starting a coworking space:

Although the last word aim should be to supply the maximum amount of convenience and luxury to the member as you’ll. In the initial stages of starting a coworking space business, you’ll leave aside some services which can only add up to your cost and won’t attract more customers. These services include a motorcycle rack, shower facility, phone booths, lounge areas, exclusive kitchen, and personal offices. All these and lots of more similar services will surely make a difference, but it’ll also increase your initial cost. And once you are opening a coworking space, it’s almost like a business venture. You need to tread carefully and take small baby steps going forward.

How to scale your coworking space?

Now that your coworking space is up and running, it is time to scale it up and reach a wider market. There is an incredible scope of scaling up only after a couple of months of opening a coworking space. The trick is to first assess your progress of the previous period then advance to expansion. You need to add value to your business plan, add some more features and services that will attract more members, and finally accelerate on the marketing aspect. These three steps will surely support you in expanding and widening your work area.

Capital Investment for opening a coworking space:

Talking about the entire cost you would like to know that this is often the initial cost. The initial cost is what you’ll spend even before opening your coworking space. Here is that the total expenditure that you simply may need to incur when starting a coworking space business.

Rent: $750-$1000 (Rent x 3; this is the initial rent cost)

Furniture: Chair ($50); Desk ($450). So for 50 chairs and 10 desks, the entire cost is going to be around $8000

Staff: Three posts of an operations manager, a Community Manager, and an Administrative manager ($4000-5000)

Utilities and Services: This includes the painting, remodeling of the workspace, electricity found out, and therefore the HVAC system. The total cost will be around ($15000).
So we are watching the entire initial cost of opening a coworking space of $30000.

 

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/why-how-and-the-cost-of-opening-a-coworking-space

Read Vietnam Economy Weekly News

Weekly Trade Opportunities (20 – 26/10/2020)

Here are some of the Trade Opportunities collected over last week (20 – 26/10/2020)

Trade Opportunities about American companies find business partners

Business connection is American companies need to find partners who are Vietnamese enterprises that have production facilities for optical glasses used in camera equipment, projection equipment.

Long-term cooperation, production of optical glasses equipment, assembly, and finishing in the United States. Vietnamese enterprises wishing to contact the Vietnam Trade Promotion Center in New York (Viettrade New York)

580 FIFH AVE, NY 10036

TEL; 212 868 2686/212 868 2688

EMAIL; vietradeny@vietrade-newyork.org

Source: The Vietnam Trade Office in the United States

Osaka wants to find a Vietnamese children’s toy manufacturer and supplier.

Osaka enterprises need to find Vietnamese partners who are plastic manufacturers to order in trade cooperation.

– Product information: Children’s toys (balls, plastic jumpers)

– Product description: As attached image

– Quantity to order: depending on price and quality

– Specifications and models: as attached file.

– Other requirements: Manufacturing companies have experience cooperating with Japan with similar products as a strength.

Japanese company information: http://www.yamaine-ikeda.co.jp

Source: Vietnam Trade Office in Osaka

To find out more Trade Opportunities, you can click here: https://lookoffice.vn/economy-business-investment/trade-opportunities/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

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source https://lookoffice.vn/weekly-trade-opportunities-20-26102020

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Weekly Vietnam Property News (18 – 25/10/2020)

Property News: HCMC real estate market, many positive signals

Expected in quarter 4/2020, the Ho Chi Minh City market will have more than 16,000 apartments for sale; of which, 90% comes from the next phases of existing projects.
In the last 3 months of 2020, HCMC real estate market is expected to add more than 50,000m2 from 7 new projects; in which, the non-CBD area accounts for more than 80% market share.
The eastern area of the city (District 2, Thu Duc, District 9, Binh Thanh) will continue to lead the new supply.

Property News: Foreign investors like real estate in central Ho Chi Minh City

HCMC real estate has great growth potential, especially in the luxury real estate segment. The target of this investor is high-end apartment projects in the city center, in order to anticipate the value increase momentum when the land fund is exhausted but the need for the high-quality living of business people and experts. at home and abroad are always growing.
The trend of investors looking for luxury real estate in the big city center is also recorded at brokerage agencies specializing in serving the group of foreign investors.

Coming to the district, Nha Be district’s real estate is ‘hot again’

With strong changes in infrastructure, along with enough information to go to the district, real estate in Nha Be district (Ho Chi Minh City) is “hotter” than ever.
The transition from a district to a district in the immediate future will be very beneficial for local people, followed by increasing advantages to attract investment in the area. Nha Be district is being evaluated as a very potential area because a transport system connecting with important roads has been formed.

Specifically, at the end of April 2020, the intersection of Nguyen Van Linh – Nguyen Huu Tho, with an investment of more than VND 830 billion, has started phase 1, the project will promote city-wide connectivity through a combination. between the North-South and East-West axes.
With strong changes in infrastructure, along with information that has enough criteria to go to the district, Nha Be district is becoming the name “choosing to send gold” for the current residential and real estate investment needs. . Indeed, from the end of 2019 until now, the Nha Be land market has recorded a special excitement.

From the first quarter of 2021, city real estate. Ho Chi Minh City will “restart”

A project opened for sale early in October 2020 in Thu Thiem area, District 2, despite the average selling price of up to 7,000 USD / m2, still attracts many buyers.
Besides pointing to the decline of the real estate market in the city. Due to the translation factor of COVID-19, many experts and consulting companies also emphasize the optimism factor in the coming time.
Expected in quarter IV / 2020 city market. Ho Chi Minh City will have more than 16,000 units launched; of which, 90% comes from the next phases of existing projects. The area east of the city (District 2, Thu Duc, District 9, Binh Thanh) will continue to lead the new supply.

Compiled from many sources by LOOKOFFICE

To find more about Property News in Vietnam, you can click here: https://lookoffice.vn/category/property/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/weekly-vietnam-property-news-18-25-10-2020

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Weekly Vietnam Economy News (16 – 23/10, 2020)

In this article, we will provide new information about Vietnam Economy.

Vietnam is the only country in Southeast Asia that is forecast to see positive growth this year, at 1.6%, and reaching 6.7% by 2021.

Vietnam’s GDP reached about 340.6 billion USD this year, becoming the fourth-largest economy in Southeast Asia.

This was revealed in the International Monetary Fund’s (IMF) World Economic Outlook Report released Tuesday.

Accordingly, Vietnam is the only country in Southeast Asia that is forecast to have positive growth this year, at 1.6%, and will reach 6.7% by 2021.

IMF forecasts that Vietnam economy will rank 4th in Southeast Asia this year.

Vietnam economy will grow by 3% in 2020, to 7.8% in 2021

The Vietnamese economy is expected to grow by 3% in 2020 and increase to 7.8% by 2021.

Construction is expected to improve in Q4, supported by increased investment in public infrastructure.

Private consumption, which accounts for nearly 68% of GDP, will see strong growth in Q4 thanks to improved domestic sentiment. Private investment, however, is likely to remain subdued given the lingering medium-term demand uncertainty.

Vietnam promotes smart urban development

As a country after building a smart city, Vietnam has the opportunity to learn and refine the world’s experiences, but also a pressure to not be left behind in this trend.
Urban areas currently contribute up to 70% of the country’s GDP, but still need to be operated optimally, smarter, and use resources more efficiently.

Currently, Vietnam has about 30 localities that are building smart cities. These cities mainly focus on basic areas such as smart education; medical intelligence; Smart traffic; intelligent public services, public administration, and e-government; smart travel; To do that, it is necessary to build an open database foundation.

The period of 2021 – 2030 is an extremely important period, determined to be a “breakthrough” with an estimated GDP growth rate of 7 – 7.5%. In which, the urban economy is identified as an important growth engine of the economy.

Vietnam – One of the most attractive retail markets in the region

Vietnam is a strategic business country that our corporation focuses on investing in. Therefore, the memorandum of understanding with Ho Chi Minh City will create more favorable conditions for the development of shopping centers.
September’s total retail sales of consumer goods and services recorded an increase of 2.7% over the previous month and 4.9% over the same period last year. This shows the certain attractiveness of the Vietnamese retail market compared to the region in the difficult context of COVID-19.

Vietnam’s economic recovery prospects are assessed positively

Thanks to its achievements in economic and resource development, Vietnam has recently risen to 12th in the Asia Power Index 2020 ranking. Australia’s leading foreign policy research institute. Previously, major economic organizations in the world are also continuously adjusting to more positive forecasts about Vietnam’s economic growth.

Effective COVID-19 epidemic prevention is putting Vietnam in a better position for economic recovery. According to the World Bank, the impressive growth of the index of industrial production and retail sales, the impressive trade surplus results of $ 17 billion after 9 months, from rice to key products of electronics are the Positive indicator for GDP outlook could reach 2.5 – 3% this year.

Compiled from many sources by LOOKOFFICE

To find more about guide for business and investment in Vietnam, you can click here: https://lookoffice.vn/economy-business-investment/news/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

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Office For Lease at LOOKOFFICE

source https://lookoffice.vn/weekly-vietnam-economy-news-16-23-10-2020

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Negotiation on office lease you need to know

Office isn’t only an area for workers to figure but also the “face” of a corporation, business, or company. additionally to finding a rental property with good premises, convenient for traffic, infrastructure, and nice design … you furthermore may need some Negotiation skills to barter the worth when renting to be ready to save budget.

1. Make a primary impression in Negotiation

For business people, making a primary impression is extremely important. First of all, show it through your appearance like clothes, hair, shoes… Suppose you come to ascertain your partner while wearing shorts, slippers, and messy hair. Certainly, together with your messy appearance, they’re going to not trust, or think you’re not serious about renting, may even refuse before the negotiation takes place. So, begin with an outfit that creates you look professional. which will make your partner more sympathetic and appreciated about you.

2. Be polite

This is a crucial principle once you meet and interact together with your partner. Always having a polite attitude with simple actions like shaking hands when meeting, remembering the name of the owner, not saying quite necessary, not counting, bragging … will assist you create sympathy. This also makes the negotiation less stressful and easier.

3. Show credibility

Not only through outfits or polite manners, but you furthermore may need to show trustworthiness by showing them your financial ability. that you simply are willing to pay consistent with the agreement and suits the principles set by both parties. If you’re a landlord, you almost certainly don’t want handy over your land to someone who doesn’t have employment and a transparent background. Because the extent of the risk you face is going to be very high. So, show your partner how reliable you’re to form the negotiation easy. Moreover, if you’re a reputable and reputable business within the market, the worth negotiation is going to be more beneficial, for both parties. The lessor will understand that it’s possible to figure with you for an extended time, and it’s tough to urge an honest partner such as you.

4. Understand the office rental market

Understanding the market and capturing many information about the important estate business are going to be very beneficial for you. Not only are you able to find offices with good location and good conditions, but you’ll also determine which price is that the most reasonable. for instance, you propose to rent an office on Nguyen Thi Minh Khai, and you recognize that there are many vacant places around that area. This information is going to be extremely helpful as you’ll check out nearby properties and negotiate with a lessor for a lower cost. Negotiation will happen quite easily when partners don’t want to lose customers. additionally, knowing tons also helps you avoid things of getting to rent an office at a better than market value.

For more information about places that are renting offices or market prices, you’ll ask classifieds websites like Cho Tot Ho Chi Minh City or Hanoi, land brokers, or relatives, friend…

5. Capture the mentality of the tenant in Negotiation

In any negotiation, too, understanding the partner’s psychology is extremely important. Through the attitude, gestures, or words of the owner, you’ll tell if they’re satisfied, hesitant, or afflict the worth you ask. From there, you’ll adjust the rent of an office to suit the interests of both parties. Or as your lease is close to expiring, you understand that a landlord may be a one that likes stability and can have a tough time finding new tenants. Then, you’ll offer to renew the contract for a lower cost initially.

6. Listen

Have you heard the phrase “silence is golden”? during a negotiation, being quiet at the proper time and taking note of the tenant’s opinion will assist you stay informed and understand what they need. tons of words and trying to influence aren’t always good. Speakers need listeners. This way, you’ll show respect for your partner, make them sympathetic, and simply open your heart to concentrate on your later requests.

Absolutely not argue or say unculture words when negotiating. Because they’re going to be the explanation for a negative result for both parties.

7. Mutual benefits

A good negotiation is when each side is satisfied with the terms. Especially not causing feelings of defeat, inadequacy, loss of face … for the lessor. Suppose, after negotiating, you’ll reduce the office rental price as desired, but the partner isn’t satisfied with such A level. They only accept it for a few reasons. At that point, it’ll be very difficult for each side to cooperate within the future. And within the process of cooperation, if unfortunately you’ve got problems with infrastructure, maintenance … surely the lessor will allow you to manage and exerting for his or her benefits, such as you did before.

8. Consider the wants made by the lessor

In some negotiations, many businesses only concentrate on the way to rent an office with the most cost-effective counterfeit, no matter the wants of the lessor. this is often a significant mistake because sometimes these requirements offer you the foremost benefit. for instance, your partner asks to stay the rates an equivalent but can pay for electricity, taxes, insurance, and maintenance for offices or shared areas. At that point, you ought to reconsider this offer, because the value of such matters maybe even above the quantity of the discount you negotiate.

9. Hold your stance

Holding a stance doesn’t mean insisting on reducing the rent you would like to rent. don’t let a couple of convincing partners like this place may be a good location, many of us invite rent, nice design … but you hurry to simply accept the first price. you would like to know where you’re, grasp your advantages and drawbacks of the lessor to form an inexpensive request. you ought to be flexible in setting the terms but still keep the worth from deviating an excessive amount of from intended. To do so, you want to know tons of data about your partner and prepare well before the negotiation.

10. Assumptions beforehand of the situations

Before the negotiation, confirm you’ve got all the knowledge you would like. Then, attempt to create situations and affect them. you ought to make assumptions about the rates or demands that the office lessor is making and the way to convince them. this may assist you to be prepared and not be surprised while negotiating.

Thus, negotiating prices when renting an office isn’t only a cliché but also requires the art of communication and behavior. Once you’ve got a transparent understanding of what’s needed for a negotiation, it’ll be easier for you to realize your goals. Hopefully, the above article can assist you gain more experience in this field.

 

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

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Office For Lease at LOOKOFFICE

source https://lookoffice.vn/negotiations-on-office-lease-you-need-to-know

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Intellectual property in Vietnam

How intellectual property and resolve intellectual property disputes in Vietnam?

1. IP PRACTICE INCLUDE NEED:

1.1 Patents

Prepare patent applications;
Enforcement of patent certificates;
Prosecute violations at the administrative and judicial levels.

1.2 Trademarks

GV attorneys provide a full range of services related to trademarks and service marks. Use and enforcement of trademarks and service marks, as well as inspection of trademarks.

1.3 Copyright

Drafting a registration application for copyrights and related rights;
Advertisement;
Print and online publications;
Software;
Broadcast rights.

2. Resolve intellectual property disputes in Vietnam

2.1 About civil remedies

As a rule, in the course of filing a civil case, the owner of the IP right has the right to request the Court to stop the infringement, apologize, publicly damage the infringed goods and compensate for the damage. physically and mentally by the infringer. Damage can be calculated and demonstrated. In addition, during the lawsuit or in the process of settling a dispute, the owner of the IP right also has the right to request the Court to apply Interim Emergency Measures in some specific cases.

In fact, IP rights holders are not proactive in protecting their civil rights by civil means, and in the opposite direction, the civil regime in Vietnam is often not helpful in resolving disputes in process of using IP rights.

2.2 Regarding administrative measures

According to their assigned responsibilities, the state agencies competent to handle IPR infringement are diverse from the Economic Police (Ministry of Public Security); Market Management Department (Ministry of Industry and Trade); Customs (Ministry of Finance), and Inspector of such ministries.

When there is an alleged infringement, the owner of the IP right must find a legal representative of Vietnam to file and handle it before the competent authorities of Vietnam. The request to resolve an infringing act should clearly state the IP object, the person accused of infringement, and detailed information about the individual, the organization, and the resolution.

According to Decree 99/2013 / ND-CP regulations on sanctioning in IP, if the violation is identified, the violated individual/organization may be fined; to be suspended for a definite period of time the production or trading of infringing goods or services; remove the infringing element on the infringing goods or destroy the infringing goods or means of business.

Source: gvlawyers, Banca IP Law Firm

To find more about guide for business and investment in Vietnam, you can click here: https://lookoffice.vn/economy-business-investment/guide/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

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Office For Lease at LOOKOFFICE

source https://lookoffice.vn/intellectual-property-in-vietnam

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Things To Know About Grade of Office Space

There are some tips for you to know about Office Space is Grade.

Office space grading explained

When looking for a new office space to move to you’ll be faced with a number of different office grades. This can be daunting if you are not aware of how these grades apply to the building and how they differentiate the various levels of workspace. Essentially, there are three categories that most offices fall into Grade A, Grade B, and Grade C office space.

Grade A

Grade A is the most sought-after and usually comprises of the new or recent development in a key business location. The systems and furnishings included are states of the art and the fit-outs are stylish and to a very high standard. The asking price for rent is usually high and reflects the quality and location of the offices.

Grade B

Grade B space is cheaper to rent than Grade A and the fixtures and fittings will be to a lower standard. However, many Grade B offices can be well-maintained and facilities can still be excellent. Construction and design are not to the same high standards and they can often be former Grade A buildings that are past their sell-by date.

Grade C

Grade C office space, as can be expected, is usually located in an older building where standards aren’t as rigorously maintained. This sort of space can present a bargain to companies who aren’t reliant on a strong office image, although it is often located out of town.

 

The Differences Between Grade A and Grade B Offices

Whether you’re looking to purchase or lease an office or simply rent a shared space, you will no doubt have come across the terms ‘Grade A’ or ‘Grade B’ at some point, but what exactly is a Grade A office, and what makes it stand out from a Grade B variant. So here are the differences between this.

Grade A

– The elite level of offices

About office facilities, we all want the best of the best, and that is precisely what Grade A offices offer you, in terms of the working environment, the look, and overall feel, they’re second to none.

Grade A offices are always located in central and or key locations throughout a city, and more often than not they are either a brand new development or undergone a significant refurbishment recently.

Grade A office spaces are frequently occupied or acquired by consumer-facing corporations such as law firms, and banking institutions and their impressive architecture and interiors leave an excellent impression on their clientele

Grade B

– Style at an affordable price

Grade B offices are a cost-effective office type for many developers and occupants. Grade B offices are often 30% cheaper than their Grade A equivalent, and fall into two categories:

The first is a Grade B office building that was downgraded from the Grade A category; the buildings downgrade in classification could be down to several factors including; wear & tear as well as market fluctuations.

The second type of Grade B listings is purpose-built Grade B office spaces that are purposefully created to offer functional office space for a more affordable price than the Grade A alternative.
While these buildings are usually as functional and well maintained as a Grade A office space, they lack certain aesthetic touches such as marble flooring, concierge services, etc.

Conclusion:

in Office Space, while Grade A offices offer you a stylish working environment with state-of-the-art facilities, and the guarantee of a central location, Grade B offices can still provide something to company’s who operate in a less public-facing industry, providing style at a more affordable price.

 

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/things-to-know-about-grade-of-office-space

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