Franchise Coworking Space: Immense Growth and No Sign of Slowing
The business world is rapidly evolving, and the demand for flexible franchise coworking spaces will likely remain constant. We provide today’s dreamers, risk-takers, and doers the affordable, safe, and inspired spaces they need to take their business to the next level.
- Coworking spaces represent 1.6% of commercial real estate in the US
- The segment has seen the greatest increase in recent years
- The category is expected to increase by 30% this decade
We’ve developed our business model to set franchisees up for success. With professional clients, you’ll enjoy recurring revenue and semi-absentee ownership while being responsible for one salaried employee and no food exigencies.
Our Three Coworking Franchise Development Models:
Determine Your Best Fit
An Affordable Coworking Franchise Investment
Designed to Build Wealth
Key Considerations at a Glance
Hear From our Franchisees
Why You Should Consider
Our Office Franchise Opportunity
Featured Franchise Territories
At Office Evolution we are constantly growing our franchise base. Reach out to us and inquire about a franchise in your area.
Frequently Asked Questions
Starting a coworking space franchise with Office Evolution is a great opportunity. We know there is a lot to consider when looking at investments, so we’ve compiled a list of frequently asked questions below.
Do you offer multi-unit ownership?
Yes, Office Evolution prides itself on making multi-unit opportunities available within a given market. Feel free to check out our Brochure to learn more about the opportunity for investors with bigger aspirations.
What is a multi-unit franchise?
A multi-unit franchisee is someone who has purchased the rights to own and operate a number of franchises of the same brand within a territory. For those who can afford to do so, there are advantages to scaling up. One location in a stronger market, for example, can offset mediocre returns from another. Multiple locations mean you may be in a stronger position to weather economic downturns. A single marketing program can benefit all your locations, employees can rotate between locations, and there are likely to be cost savings when you purchase equipment or supplies in bulk. A successful multi-unit franchisee is a professional with a solid income history who is comfortable developing a business and managing both people and finances. Unlike the single unit owner who spends a lot of time in one location, the multi-unit building owner hires managers for each location, visiting each while keeping an eye on the big picture. Of course, franchise organizations like owners to scale up since they’ve proven themselves successful and know the brand, and they’ve already made connections within their local markets.
How much does a franchise owner make?
There are a lot of factors that go into answering this question, such as the location and number of members, whether the franchise is new or an acquisition, etc. But we know it’s a vital question for potential franchisees, and OE has worked hard to make both costs and profits as transparent as possible. Start by looking at Article 19 in your Franchise Disclosure Document (FDD). (Item 19 is a financial performance representation, and it must comply with the federal franchise rule and state rules. However, it is optional, and you might notice that some other franchisors choose to leave this section blank.)
Item 19 is where you’ll find actual numbers (like revenue-to-rent ratio, set-up fees, royalties, etc.) provided by all franchise locations. Spend some quality time with Item 19 because it’s going to give you a good idea of what you can expect to make, both in the first 12 months of your franchise and then down the road as your franchise ramps up. For those interested in owning an Office Evolution location, we’ll walk you through Item 19 and explain how it is put together so you can project your earnings given the size, location, and membership of your operation.
Of course, we urge all new franchisees to sit down with existing franchisees to learn about their experiences, their challenges, and what works for them.
In what markets do you offer franchise opportunities?
We offer franchise opportunities all across the nation. An Office Evolution franchise is perfect for any suburban market where consultants, attorneys, accountants, architects, graphic designers, technology providers, professional services firms, and more live and work! Let us know where you would like to open a location. We’ll let you know if the territory is available and whether we think it’s a good fit.
Why should I consider a coworking franchise?
Coworking is a booming category. According to a JLL report, coworking/flexible workspace currently represents 1.7% of all commercial real estate. The category is expected to grow to 30% by 2030! This growth is being driven by an increase in the solopreneur and small business growth, as well as an increased appetite from enterprises to put part of their property portfolio in flexible coworking space. Office Evolution Franchise Specialists are equipped and trained to provide you with insights into the coworking category and why Office Evolution is a great choice for a coworking franchise.
What differentiates Office Evolution? How is the business model different from competitors?
The Office Evolution business model is perfect for any franchise owner who wants recurring revenue, the ability to work and live in the same area, a life outside of the office (you’ll work Monday to Friday 8 a.m. – 5 p.m.), and to be around like-minded, professional business people. The OE business model is set up specifically for franchise business owners who don’t want to work with hourly employees, food, cash, or expiring inventory! If the OE business model sounds like it’s right for you, let’s connect and discuss further.