Austin Startup Reset Launches New Type Of Workspace Housed Inside Austin’s Independent Restaurants
August 20th, 2018
August 20th, 2018 – Austin startup Reset, a minority and women-owned business founded by University of Texas - Austin MBA alums Siri Chakka and Silva Gentchev, announces today its launch. Reset aims to bring down the costs of traditional co-working and create a unique community of workspaces across the city by partnering with local, independent restaurants. Reset’s inaugural launch restaurant is Nightcap, located in Clarksville, with locations opening in September in East Austin (Tillery Kitchen & Bar) and Mueller (L’Oca D’Oro).
“The idea to use our space during the day as a creative workspace made perfect sense to me from the beginning,” says Nightcap Proprietor Christin Rowan. “Nightcap is all about building community and a comfortable place to just be, and I see Reset as an extension of that.”
With Reset, Austin residents have an affordable option when it comes to choosing a workspace with a consistent experience and flexible membership options. Reset memberships include bottomless coffee, high-speed Wi-Fi, ample plug outlets and a guaranteed seat – all for the price of two cups of coffee a day. Austin has the highest percentage of remote workers than any other US metro area, with 5.4 percent of the working population working from home at least 50 percent of the time, largely driven by local technology employers like Dell and the growing interest among workers for more flexible work options.
Co-founders Chakka and Gentchev were both working from home in previous roles when they realized that traditional co-working options didn’t address their needs or schedules properly. “The idea for Reset started percolating when we realized there was really no alternative to our apartments or a coffeeshop,” says Gentchev, “ we ended up going a bit stir-crazy working from home, but couldn’t justify the hundreds of dollars a month a co-working space cost without a corporate stipend.” Traditional co-working memberships range from $350 - $500 per month in Austin, with varying levels of desk mobility, perks and locations.
Reset conducted market research interviews with dozens of work-from-home individuals in Austin and found that the sentiment is shared. Remote workers typically want a place to work outside of their homes at least 2-3 times a week that is affordable, and the costs of traditional co-working were too high without the help of an employer stipend. Remote workers typically seek public areas where they can work for a few hours, trying to achieve better work and home balance, as well as be around other workers. Local coffee shops are a common place to work, but are often lackluster with weak WiFi, crowded seating and an inconsistent work environment.
For Austin’s local, independent restaurants, Reset provides them with a way to make additional revenue to offset the ever-increasing rent (from rising property taxes) and labor costs (from labor shortages) that plague Austin neighborhoods, especially those surrounding the Central Business District.
Over 50 restaurants closed down in Austin in 2016, 70 in 2017, and 50 through June 2018, with many citing labor shortages, increasing property values and an over-saturation of the market as reasons for closure.
“Restaurants have all the furniture and infrastructure needed to make a workspace, and dinner-only restaurants have open spaces during the day that are typically unutilized,” says Chakka, “traditional co-working memberships are costly because of expensive leases and build-outs. With restaurants, we avoid those costs and provide an affordable solution, while supporting local restaurants so they can keep doing what they do best - making amazing food.”
Reset is a new type of workspace founded in Austin, Texas. We partner with local, independent, dinner-only restaurants to turn their spaces into co-working during the day at an affordable rate with one mission - to enable people to do their best work. The company was founded in 2018 by co-founders Siri Chakka and Silva Gentchev.
Name: Siri Chakka, Co-Founder