If you’re interested in starting a coworking space business, you might be wondering where to start. Coworking spaces are a relatively new phenomenon, and with many different types to choose from, it can be difficult to decide what kind of business you’d like to open and what to take care of first. Venture X franchisees find that choices like these are easier than ever. With our guidance and experience, the process of starting a coworking business is greatly simplified. Here’s a quick look at a few of the ways we support our franchisees.
Finding the Right Location
Finding the right location is especially important in any new business, but it’s especially crucial when starting a coworking space business. You’ll need to find a space that’s accessible to the professionals you’ll attract, and that’s convenient for them to do business in. Having enough space to offer private meeting rooms and office suites is a must, and a great area with lots of nearby amenities like restaurants and hotels is also helpful. Venture X helps our franchisees to find a location that meets criteria like these that’s also leasing for a fair price. Our real estate experts can help you to do the legwork, making it much easier to find the right spot for your new business.
Valuable Third-Party Connections
They say that “no man is an island” and this is especially true for entrepreneurs. You’ll need the help of others to get your business up and running. At Venture X, we have valuable connections with vendors that help our franchisees get the high-end furnishings and equipment they need for a fair price. We’re also well connected with real estate and architecture firms that can help you to develop a unique look and feel for your coworking space. Independent operators often need to spend years developing relationships like these, but they’re just one of the benefits our franchisees enjoy as soon as they partner with us.
An Efficient Business Model
No new business can thrive without a great business model. Having the right policies and procedures, as well as setting your prices strategically, prevent businesses from wasting time and money by operating inefficiently. New business owners can spend months, even years, trying to determine the most effective business model, but Venture X has already figured it out. Our franchisees don’t need to start from scratch, we train them in the ins and outs of how to run one of our coworking spaces. In their initial training, we cover things like:
- Marketing and finding new clients
- Signing and billing clients with our proprietary software
- Record keeping
- Staffing requirements
- Maintaining and enhancing IT infrastructure
If you’re thinking of starting a coworking space business, don’t be daunted by all of the details you’ll need to manage. Franchising with Venture X is a great way to ensure that you have a good understanding of how to manage your new business.
Ready to learn more about what goes into starting a coworking space business? Contact Venture X today!