~ Plans to host 100,000 beds in the next five years
Student housing startup Your-Space, has opened 7 new co-living facilities across Delhi NCR, Mumbai, Chandigarh, Jalandhar, and Pune owing to the growing demand for standardized & quality student accommodation around universities and colleges. With its premium offering, Your-Space prides in providing a complete ecosystem and the comfort of home away from home, for students across key educational hubs.
Your-Space now hosts 1200 beds across six operational cities, with an average occupancy of 80-85 per cent. Your-Space charges anywhere between ₹12,000 – ₹25,000 per bed depending on the city and location. It also matches flat mates by pairing same colleges or same courses. It partners with property owners and developers on a fixed lease, revenue-sharing, or management contract basis, for a period of 5-12 years. It remodels and redesigns the properties according to students’ needs, factoring in services such as food, WiFi, laundry, security, etc. With facilities like gyms, leisure activities, independent kitchenettes, food delivery, and even shuttle services to colleges, Your-Space is altering the face of student accommodation.
The co-founders Shubha Lal, Karan Kaushish and Nidhi Kumra identified a significant gap between demand and supply in the fast growing student housing market and pioneered a unique solution that while addressing the needs of the students and parents also offers a sustainable and scalable growth model for the brand. Not afraid to disrupt the student housing industry, Your-Space has witnessed double digit growth along with an exponential increase in revenues/top line and a healthy growth in bottom line within 2 years of operation.
Expansion in other cities to create a broader portfolio was the logical next step for the brand. Shubha Lal shared the expansion plans and added, “The education market is expanding rapidly across the country with prestigious institutions launching in tier 2 cities as well. Having the first mover advantage in North India, we aim to secure this opportunity and establish ourselves as pan India student housing solution providers. The core idea is to create a brand that is consistent in safety comfort and quality irrespective of the city or the specific facility.”
Karan Kaushish further elaborated on the new launches as he stated, “Your-Space underlying philosophy is to always put students first. Post raising almost a million dollars in funding from angel investors and HNIs, we decided to expand our market and now operate across 11 locations. We follow an agile and lean business model that allows the flexibility to quickly adapt to new market trends and demands. Our aim is to provide a home away from home where the focus is on students’ academic development while trivial housing issues are taken care of.”
Your-Space is constantly adapting itself to changing consumer needs and feedback. Nidhi Kumra highlighted the brand’s deep knowledge of the consumer and market insights and added, “Aspirations of parents and children have gone up and the upper middle-class is willing to spend on better stay options. The significant demand for safer and more comfortable premium student accommodation has led to models like Your-Space to grow and scale. Thus as a brand we are looking to provide housing facilities across all major educational hubs. There is no cookie cutter approach as the student and his or her needs remains at the center of all business decisions.”
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