- 15 % increase of lively regular users from 2022 to mid 2024 time
- Investor gave US$ 318k in 2021 to establish 2nd place in Bandar Sunway
Although the Klang Valley’s traffic conditions demonstrate clearly that the work-from-office pre-pandemic rule has reaffirmed itself, that does not imply that the idea of the company has not changed.
For example, the demand for working has improved after the crisis, said Casper Foo, inc- chairman of coworking area Sandbox launched with his co- founder, Lye Yu Min in 2017 in Sri Petaling, a township in Kuala Lumpur. There was a second i- leader then and the group self- funded the opportunity to the rhythm of US$ 63, 705 ( RM300, 000 ). The next co- founder immediately left to pursue additional interests.  ,
The traditional method of working with a fixed space and legal obligations to pay rent had been clearly demonstrated by the crisis. Numerous companies experienced major cash flow issues.  ,
Renting an office in the post-pandemic era also involves signing a traditional two-year lease and then investing in repairs.
More people today prefer coworking spaces because of the flexibility they are offered, according to Casper, adding that because of the lessons they learned that” income is king,” people are afraid to make this determination. With all the competition out there, you do n’t even know whether you’re going to succeed when you start a business. Which is why choosing a working place to begin as your first business is a wise decision, he said.
Casper points out that one can start at a coworking space right away, and that one can leave after one month if they do n’t feel their idea is solid enough.
Found its market
As a provider of coworking space, Sandbox is small compared to market leaders WORQ ( eight locations ) and Common Ground ( 10 locations ), or other established players such as Colony ( four locations ), Co- Labs ( five locations ), Spaces ( three locations ) and Komune ( three locations ).
While industry leader WORQ has been making headlines with partnerships with mall operators and real estate investment firms to expand the scope of its offerings and proven business players are becoming more and more popular for coworking options, Casper believes he has found a niche with his 24/7 coworking space that attracts students, freelancers, distant workers, startups, and modern nomads.
We are more like a business hub, a stepping stone for those who come in with little ideas, maybe only one person, or even occasionally without an plan. So they must experiment with a lot of tests in our environment. That’s why we call ourselves Sandbox”, Casper explained.
In 2022, having proven its target market was viable, Casper, with a US$ 318, 400 ( RM1.5 million ) investment from a close friend opened a second branch in Bandar Sunway instead of the more popular coworking locations such as Bangsar South, Damansara, Bangsar proper or Subang. For us, he said,” Those places are very elegant and business.”  ,
Before Sandbox
Before the concept of Sandbox, Casper had spent his previous 10 years working as a financial planner in economic advisory services, while Lye, his co-founder, spent 11 years as an basic insurance planner. Since their time together at Sunway University, they have been companions.
Casper always liked the idea of working in an office, so he decided to work from a shop, which piqued his interest in the working concept because he thought it was “very cool” but also useful, especially if one was an entrepreneur or modern nomad.  ,
” You could get guidance from others in the same area because the relationship is really strong when you meet like-minded people, rather than working at the cafe only or starting some projects,” said one woman.
Casper’s normal shop, which served as his office, shut down without warning in 2017 and that was the catalyst for the launch of Sandbox.
Sri Petaling and Bandar Sunway, and the village think
It was simple to pick Sri Petaling as the starting spot. The founders wanted Sandbox to get located in small towns that had a town experience. Additionally, Sri Petaling is located near to their home.
” I also favor areas that are more geared toward the younger demographic, because businesses typically fall into the 20s to early 30s,” Casper continued.
2017 was a different occasion for coworking areas, as they were too costly, said Casper. ” When Sandbox first started out, our rates were low compared to our competition”.
Now, after seven years in activity, rates have remained the same at the Sri Petaling area.
Because I personally looked for a coworking space before but found it inexpensive, I want to support these startups and those who are starting their entrepreneurial journey. That’s why when we started I wanted to make sure that the costs was pleasant for everyone”, Casper explained.
While Bandar Sunway took a month, its Sri Petaling branch’s cash-flow broke yet six months into operation. Casper items to the gradual recovery that followed the longer period that Bandar Sunway had to make breakeven.
He is now looking to expand Bandar Sunway’s events organization by employing some people.  ,
Tenants
While residents have come and gone, particularly during the epidemic,” Most folks that leave our place are for good reasons as they grew too great for us to accommodate”, he said, declining to give examples.
A team of four to eight is the common power, but at one place, Sandbox was able to accommodate a group of 30 people because they had expanded at Sri Petaling before the crisis struck.
Sandbox now hosts 70 to 100 active regular people in each area. Between 20 and 30 of the inhabitants are contractors, while the remaining 20 to 30 are between two and four. Since 2022, occupancy has increased by 15 %, and the two locations have a monthly occupancy rate of between 65 % and 80 %.
The prospect
Sandbox is requesting Malaysia Digital Hub ( MDH) status, a government-certification for coworking spaces that meet certain requirements that help their user community grow their businesses.
” We are truly in the midst of this process for getting licensed”, Casper added.
In terms of potential growth,” While we welcome investors, we likewise hope to develop this business spontaneously because we want to maintain our model and style as a center scale, community- driven coworking space”, Casper explained.  ,
Any investor looking to form a partnership with Sandbox in order to expand to new locations must accept their brand.  ,
Beyond investors, Casper is looking for corporate partners. We hope to work together with more businesses to synergize with us, he said. Recently, it recently collaborated with Asus to provide Sandbox with the most recent WiFi router technology.