Founded in 2012, Cozy Stay is a Bengaluru-based hospitality company that provides students and young professionals with co-living spaces that are hassle-free, cost-effective and fully secure.
For young working professionals, moving to a new city is always a daunting task. First, there is stepping out of their comfort zone, and then there is the struggle of finding a suitable accommodation – something that they can call their ‘home’ for the next few years. But many issues plague this process and make it full of hiccups. Unclean living conditions, the absence of basic utilities, and hefty prices are all contributing factors to this issue.
In 2008, Fahad KM experienced poor living conditions in hostels and rented rooms while studying in Bangalore. After graduating in 2012, he returned home with the idea of providing a convenient home-like experience for students.
In 2013, Fahad KM sold his bike and borrowed money from his family to purchase land and start building a student residence in Bangalore.
The construction, which had an 80-bed capacity, was completed in 2016, and 90% of the beds were filled within two days due to the clean drinking water, proper maintenance, and individual tables provided by Cozy Stay.
In 2018, Cozy Stay purchased land in Hebbal, which is currently under construction and will have a capacity of 70 beds. However, the high costs and complications of buying land and constructing buildings led to the idea of acquiring properties and renovating them to save costs and time while providing more amenities for students.
In 2020, Cozy Stay purchased a 90-bed property for lease in MS Palaya and renovated the entire property in four months, leading to 85% occupancy.
In 2021, they acquired a new property in Marthahalli, which they are currently renovating to their standards and will have a capacity of 70 beds.
Why Cozy Stay stands out
Cozy Stay’s goal is to provide a comfortable and homelike living environment for millennials living away from home. They analyzed what people miss from their homes and included those features in their properties.
In addition to Covid protocols for safety, in-house security staff, dedicated caretakers, spacious rooms with reliable storage and workspaces, and a vibrant community to share joyous moments, Cozy Stay also provides hassle-free move-in processes and online service requests. Residents do not have a lock-in period or need to pay large sums in the name of security deposits, and dedicated staff fulfil any room services requested immediately.
The use of technology, such as the development of a core technical team and web application, has connected Cozy Stay’s properties and residents.
With the addition of technology, occupancy has consistently reached 90%, even during Covid-19.
Cozy Stay plans to capitalize on the high demand for beds from students and working professionals and have 1800 beds available by the end of 2022.
In conclusion, Cozy Stay’s success is due to the startup’s dedication to providing a convenient home-like experience for students and using technology to connect their properties and residents.
They have analyzed what people miss from their homes and included those features in their properties.
In the near future, Cozy Stay plans to expand to more cities and have over 1,800 beds ready.