If you’re wondering how to start a coworking space, you might be scratching your head debating where to start—especially if you’ve never run your own franchise before. There are many factors to consider, including the investment cost, resources provided, and training offered. In addition to understanding the basic steps of how to start a coworking space franchise, you also need to be aware of the potential hurdles that lie ahead, and what systems are in place to help you overcome them. Here are some of the key stages you should keep in mind when opening a Venture X franchise.
Investment
Regardless of the industry or company, all prospective franchisees should be aware of the costs associated with the franchise. Our franchise fee is based on a number of factors, including: company expenses for grant and acquisition, uniqueness of the business, complexity levels, and overall revenue streams, just to name a few. Our fee is currently a one-time set amount of $79,500. In addition to this, franchisees are expected to pay Venture X 6% of their gross revenue in royalties. This is a monthly, recurring expense for the lifespan of your business. Royalty payments are standard across all reputable franchise opportunities, and cover such items as our ongoing support network and other resources that ultimately will aid you in the operation of your franchise.
Training and Support
Once you do sign on with us, we have an extensive training process in place to ensure that you have access to the tools and information you will need to succeed in your chosen franchise location. We’ll fly you out to our world headquarters in West Palm Beach, Florida, for three days of in-depth training, followed by another three days at our flagship Venture X location in Naples, Florida. Once you return to your home location, we’ll send out a corporate representative to help you prepare for launch with comprehensive on-site training.
We also want to make sure you take advantage of our innovative marketing materials, including a multi-channel approach focusing on your local market. Our marketing strategy is specifically designed to pre-fill as many spaces as possible before your doors even open. Assistance with your grand opening, PR campaigns, online marketing solutions, printed materials, and event planning also are provided by our in-house marketing team.
But even after you complete our comprehensive training program, don’t think the education ends there! You will have continued access to our online training portal with useful tools designed to help you stay on track. You will also be invited to attend a variety of regional meetings and national conventions to keep you up to speed on industry happenings.
Do you want to know how to start a coworking space? Venture X is an exciting opportunity and makes it easier than ever to break into the industry as a new franchisee. Reach out to us to take the first step toward franchise ownership.