Advantages of Investing in Venture X Coworking Franchise
Venture X makes it easier than ever to open a coworking space franchise! Our comprehensive coworking franchise investment package includes just about everything you need to get your location up and running.
As a five-star flexible workspace solution provider and industry innovator, our franchisees can look forward to expert guidance and support throughout the process to make sure your facility looks and functions at peak performance.
When you invest in a Venture X franchise, you’ll gain valuable advantages that you won’t find elsewhere in the coworking industry, including:
- Upscale workspace design. We feature attractive, functional workspaces as part of our upscale facility design. With the addition of beautiful furnishings, our coworking spaces provide members with exceptional comfort and lend an air of sophistication to the business.
- Concierge-level services. Members love that we provide a variety of amenities to sweeten the deal, and they also can serve as additional revenue streams for franchisees.
- Fully equipped meeting rooms. We keep franchisees current on the latest technology, incorporating the most up-to-date video conferencing hardware in our fully integrated smart meeting rooms.
Convenient 24/7 access. Our members work at all hours, so we’ve made it easy for them to work on their own schedule with round-the-clock access to our facilities.
We’re proud to be a flexible franchise solution that adapts to change. Our franchisees appreciate that we’re able to open locations wherever there’s a need for flexible workspaces, from outdoor retail plazas to freestanding office buildings.
As part of our flexibility, we offer financing options to help franchisees start and open their businesses. Financing is a big consideration, which is why we’ve partnered with Business Finance Depot to make the prequalification process quick and easy to complete.
Our Investment Financing Options
One of the most important factors you should consider when choosing our franchise opportunity is our financing options. Venture X has partnered with Business Finance Depot to help our franchisees find the best solution to fund their businesses.
Small Business Association (SBA) loans are the most common type of financing used for franchising. With the federal government backing a portion of SBA loans, these types of loans tend to have more favorable interest rates and repayment terms than commercial bank loans. If you’re a new franchisee, consider Type 7(a) loans over type 504 loans, which have more limitations.
There are several factors we’ll take into consideration when helping you find the right financing option for your business. These include your timeline, risk tolerance, and credit history, to name a few. Business Finance Depot has worked with our partner, Starpoint Brands, for years and has processed more than $118M in SBA loans and equipment leases. We’ve worked together to create a secure loan application process that makes the process faster and more simple.
Franchising offers entrepreneurs the ability to start their business with a proven business model, unparalleled training and support, and the financial risk is considerably lower, as franchised businesses tend to have higher success rates.
Other Franchisee Financing Avenues
If you’re wondering if other financing options are available, we’ve got you covered! Franchisees can explore the many options offered to finance the purchase of a franchise.
Additional options for funding your business include:
- Commercial bank loans. With a good credit rating and detailed business plan, franchisees can apply for a commercial bank loan with the provider of their choice.
- Alternative lenders. These lenders might be an option if you’re unable to secure an SBA loan or commercial bank loan. With a faster approval process and less stringent restrictions, alternative lenders can be a great option; however, exercise caution as the interest rates are generally higher and repayment periods are shorter.
- Personal assets. Franchisees can also look into utilizing savings accounts, severance packages, home equity, and retirement savings plans to finance their business. However, these can sometimes jeopardize financial security down the road.
- Rollovers for a business startup (ROBS). ROBS allow you to withdraw money from a 401(k) or other retirement savings account without incurring penalties. While legal, the IRS may consider this method questionable.
- Crowdfunding and borrowing from friends and family. If you’ve exhausted all your options for financing, you can attempt to raise money via online forums or borrow from friends and family.
Whether you’re interested in opening a Venture X franchise as a new career or are simply looking for a coworking space to add to your portfolio, we offer a franchise opportunity that’s worth your while with financing options to suit every budget.
Curious to learn more about why you should invest in a franchise with Venture X? Contact us today!