How and why Channen Smith built a “power group” of coworking franchises in Colorado

When Channen Smith sold his janitorial franchise business and attempted retirement, it didn’t stick. As a serial entrepreneur with two decades in corporate America behind him, he wasn’t wired to sit still.

Instead, he looked back at an idea that had once crossed his desk: coworking.

“After selling my first business, I completely failed at retirement,” Channen says. “I’d looked at Venture X once before, and it just seemed like a really cool business. I loved the entrepreneurial spirit of it—getting to meet people starting and building their companies.”

That spark became his second act. 

He launched into coworking in the middle of the pandemic, taking over a space that had been branded differently and converting it into a Venture X. 

It wouldn’t be the last.

Today, Channen is one of the largest multi-unit operators in Vast Coworking Group’s system, with eight Office Evolution locations and two Venture X locations in Colorado. 

Through partnerships, he has also created what we at Vast affectionately call a “power group,” which now manages 13 total locations across the state.

Growing from one location to a dozen in record time

Channen’s growth wasn’t meticulously scripted. It accelerated because opportunity kept knocking.

“I’d love to say it was all well thought out and planned,” he admits. “But during the pandemic, there were people struggling, and locations just kept falling into my lap. I had cash from selling my other business, and if the deal made sense, we picked it up.”

Only one of his spaces started from scratch. The rest were acquisitions: existing coworking centers that his group revitalized and scaled. That opportunistic approach allowed him to go from one site to a dozen in just a few years.

Why coworking felt like the right long-term bet

Even before coworking, Channen had owned commercial real estate tied to his janitorial operations and was deeply involved in real estate in his corporate roles. That experience gave him an eye for how office space could be used more creatively.

“I was on the real estate team at GE, and we managed a million square feet,” he explains. “I knew those days of massive corporate campuses weren’t going to last. People weren’t going back to that model long term. Coworking made a lot more sense.”

When the pandemic hit and remote work surged, his conviction only deepened. 

“I knew people would eventually get sick of working from home,” Channen explains. “But I also knew they weren’t going back to their old offices either. Shared workspace was going to be the way forward.”

That bet has paid off. 

Demand hasn’t just come from freelancers and startups. It’s increasingly coming from enterprise clients. 

Channen explains, “When you’ve got companies like Boeing and Google asking if you can house 40 or 50 employees, that tells you where the market is headed.”

Inside the “power group”: how collaboration unlocked 13 coworking locations

The turning point in Channen’s growth came when he stopped thinking like a solo operator and started thinking like a collaborator.

Some partnerships formed through United Franchise Group, when prospective owners were introduced to him because they didn’t have the financial capacity to secure deals alone. 

More recently, two of the most successful Office Evolution operators in Colorado approached him about joining forces.

“They just came to me one day and asked what I thought about joining forces,” Channen recalls. “I thought it was a great idea. I want to be retired again at some point, and we had spectacular operators on both sides, including Bryce Hill on my team and Katie Baroway on theirs. They’re the ones running the business day-to-day.”

Together, their “power group” now controls 13 locations, with plans to keep growing.

The hidden leverage of scale in coworking (and why small operators struggle)

Pooling resources has created leverage that individual operators can’t always achieve on their own.

“As a small business, you’re not walking in with a billion-dollar balance sheet,” Channen says. “Some landlords only want to deal with giant corporations. But when you come to the table as a larger group, it changes the dynamic. You can be persistent, keep looking at 100 deals to find the right one, and make those deals happen.”

The collaboration also creates a built-in testing ground. 

“Being part of a bigger group means you can afford to make a few mistakes or try new ideas,” he says. “You don’t have to get everything perfect on day one.”

How franchising turns ambition into expansion without reinventing the wheel

Channen has been clear about why he chose franchising, both for his first business and now in coworking: systems.

“I’m an operator,” he says. “You give me a system, and I’ll make it run. I’ve never been the guy who dreams up the big idea. That’s why franchising works for me.”

On the surface, coworking doesn’t have a ton of barriers to entry beyond needing a strong balance sheet. 

In theory, anybody with an office building can try it. 

But as Channen points out, that doesn’t mean it’s simple.

“I talk to building owners all the time who thought they could run coworking themselves,” he says. “They quickly realize how hard it is. They end up calling us and asking us to come in and fix it.”

That’s why he believes in the franchise model: the playbook is already built. 

“Franchisees are two to three times more successful than entrepreneurs who go it alone,” he says. “That’s a massive advantage.”

He credits Vast Coworking Group and United Franchise Group with creating a support funnel that’s especially strong for new owners. 

He explains, “They’ve got resources for everything, from real estate site selection to marketing, and operations. Even if you’ve never run a business before, you’re not doing this by yourself.”

Community matters, both inside and outside the brand

Channen sees his success as proof of the value of community on multiple levels.

First, there’s the franchise community. 

“Whether you own one location or ten, having other owners to call is invaluable,” he says. “I’ll pick up the phone and call Richie Parsons or anyone else in the network. You’re never in a vacuum.”

Second, there’s the industry community. 

“It’s a collaborative industry now,” he says. “Everyone wants to see coworking succeed.”

And finally, there’s the member community. 

“Our network is our strength,” he explains. “When Boeing takes space in Denver, they want access in Boulder too. We can offer that across our group of locations. It’s not just solopreneurs anymore. It’s enterprise clients who see the value of a wide network.”

Location, lease, and amenities: the three mistakes you can’t undo in coworking 

For prospective coworking operators, Channen has one piece of advice: get the fundamentals right the first time.

“Make sure you have the right location, the right lease, and the right amenities,” he says. “Those are hard to cure later.”

Even if you sign a management agreement instead of a traditional lease, if you choose the wrong location or misjudge amenities, those mistakes are almost impossible to unwind.

The good news? 

With a franchise partner like Vast Coworking Group, you’re not making those decisions alone. 

The franchise team connects owners with experienced brokers and provides guidance on what will and won’t work in a given market. 

That level of support helps new operators avoid costly mistakes and make informed, confident choices.

Channen also emphasizes the importance of partners. 

He shares, “We call our group our ohana—the Hawaiian word for family. That’s how it has to feel. If you don’t trust your partners, you won’t last.”

The long-term proof points fueling coworking’s growth

Looking out 10 to 20 years, Channen is clear-eyed about why he’s invested so heavily in coworking.

“I wouldn’t buy into a franchise if I thought it was a fad,” he says. “This isn’t frozen yogurt. This has staying power. The industry will at least double, if not increase fivefold, over the next decade.”

And with major corporations now embracing flexible workspace, he sees the proof every day. 

“The backpackers might have started the coworking industry, but they’re not who’s driving it anymore,” he says. “It’s the big players, and they’re not going away.”

The Vast-backed franchise model is built to multiply your investment

From failed retirement to building a 13-location “power group,” Channen’s story reflects the scalability of coworking and the strength of the Vast Coworking Group franchise model.

For prospective owners, the lesson is clear: you don’t have to go it alone. 

Whether it’s through franchising, partnerships, or both, the systems and support are in place to help you scale faster and smarter.

Curious if a coworking franchise might be the right business for you? Discover opportunities with Venture X today.