How Coworking Space Franchise Owners Can Maximize Profitability with Multiple Revenue Streams

Savvy entrepreneurs know that any business worth investing in has to have multiple revenue streams. Those sources of revenue should be simple to run, too. For coworking space franchise owners, multiple profitable revenue streams are key.

Venture X’s multiple revenue streams are passive income models, meaning they require minimal work from our franchisees to profit from them. Let’s take a look:

Multiple Membership Options Make up Multiple Revenue Streams

Venture X offers a wide variety of membership plans to meet the various demands of today’s coworking space users. Those plans include:

  • Community – This plan is ideal for small- and medium-sized companies that don’t require employees to show up at the office every day. Community membership includes access to:
    • Common area one day per month
    • Member community
    • Conference rooms at member rates
    • Additional day passes available upon request

Venture X coworking space franchise

  • Virtual Office – Businesses that do not need to convene regularly enjoy the versatility of the Virtual Office plan. It provides members with a business address and a place to meet with clients in contemporary office spaces. Virtual Office membership includes everything in the Community plan, plus:
    • Professional business address
    • Mail services and package handling
  • Shared Desk – Emphasizing the collaborative spirit of coworking spaces, Shared Desk members get to choose their place at a community-shared desk and work alongside like-minded professionals. Membership includes everything in the Community plan, plus:
    • Flexible full-time workspace
    • Ergonomic chair
    • Conference room hours

member working at a shared desk

  • Dedicated Desk – This plan is perfect for professionals who enjoy working in a common area, but also want a little more privacy and a fixed location to work every day. Membership includes everything in the Shared Desk plan, and:
    • Dedicated full-time desk
    • Filing cabinet
    • Unlimited 24/7 access
  • Private Office – A flexible membership plan for professionals who require an enclosed, private space that provides a sense of autonomy. Private Offices can accommodate one to 10 individuals and can be secured at the end of the day. Private Office membership includes everything in the Dedicated Desk plan, plus:
    • Fully furnished and lockable office space
    • Insulated walls for privacy

Venture X Salt Lake City private office

Coworking Space Rental Doesn’t Have to be Just for Members

Venture X franchisees enhance their profitability by offering more rental options and add-ons to both members and non-members. Additional revenue streams include:

  • Meeting Rooms – Venture X locations have a variety of meeting rooms for presenting a project plan, conducting training sessions, launching a new product line, or accommodating any important business occasion.
  • Event Space Rental – Spacious Venture X coworking venues are ideal locales for hosting private and community events. Venture X spaces are the perfect environment for all-day conferences, networking happy hours, cooking demonstrations, panel discussions, classes and much more.
  • Business Service Add-ons – Venture X franchisees enjoy business service add-ons as another revenue stream. Add-ons, typically requested by clients on an as-needed basis, include:
    • 24/7 access
    • Filing cabinets/lockers
    • Mailbox services
    • Podcast equipment rental

Venture X business mailboxes

Peace of Mind Allows for Pursuit of Opportunities

Venture X franchisees appreciate the multiple revenue streams that come along with coworking space franchise ownership because they’re profitable, but do not require significant active involvement. The additional revenue sources are built into the business model and can be managed by their staff. The peace of mind that comes with multiple revenue streams allows entrepreneurs to focus on growing their business as their coworking space generates profits.

Want to learn more about how our business model sets franchisees up for success? Download our free ebook, “Venture X: Coworking 3.0” to get started.

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