When Richie and Charissa Parsons signed their first Venture X franchise agreement in 2020, they weren’t dabbling in a side hustle. They were betting on a model they believed had the potential to reshape the future of the office industry.
Five years later, they’ve gone from one location to five, with more on the way.
Richie also serves as President of the Global Workspace Association, giving him a front-row seat to the evolution of coworking worldwide.
Their story reflects both the scalability of the Venture X model and the broader strength of flexible office space as a long-term franchise investment.
Richie and Charissa’s professional journeys from politics to fitness to coworking
Richie and Charissa Parsons didn’t start out in coworking. Their careers began in politics, then moved into fitness, buying a failing Anytime Fitness franchise in 2014.
“We basically quit our real jobs to buy a failing business,” Richie says with a laugh. “But it worked out.”
Over the next several years, they expanded to six gyms across three states. But by 2019, cracks in the fitness industry made them rethink their future.
Big-box gyms were consolidating, boutique studios were splintering, and mid-market fitness was being squeezed.
At the same time, Richie was trying to manage multiple gyms from home—a chaotic setup while raising four young children.
“I wanted a workspace away from home,” Richie explains. “But we didn’t want to take a long-term lease on an office, and there weren’t any coworking spaces nearby that fit what we needed. The options were either small mom-and-pop setups or generic corporate offices, and neither felt right.”
That gap showcased an opportunity for them.
“We realized there was a massive demand for upscale coworking in the suburbs,” Richie explains. “The market was looking for flexible office options that saved people from having to commute into the city.”
When they discovered Venture X, the pieces of the puzzle fell into place.
“We loved how upscale and professional it was in terms of user experience,” Charissa says. “And, as business owners, we liked the stability of being part of United Franchise Group with its decades of experience. It was the perfect combination.”
Richie adds, “It all just felt right. The instability in the fitness business sharpened our appetite to broaden our portfolio of businesses within an industry with stronger fundamentals, and coworking had them.”
Early success proved that coworking could scale fast
Their first location, Venture X Ashburn, opened and quickly proved the viability of the coworking model.
Richie recalls, “When Ashburn really started taking off, we realized, okay, this isn’t just viable—it’s scalable.”
Beyond its membership base of enterprise, private office, coworking, and virtual mail customers, the space also hosted everything from chamber events and professional networking groups to off-site team meetings and community gatherings.
The Virginia Attorney General’s office even held a constituent outreach meeting there.
“That’s when it clicked,” Charissa says. “The demand for this kind of flexible, beautiful, community-centered space wasn’t limited to startups or small businesses. It was for everyone, and the industry offered a ton of potential for franchisees like us.”
In five years, the Parsons have grown to five Venture X locations, with two more locations slated to open imminently.
“Once we saw the first one succeed, we knew we could replicate it,” Richie says. “We added three new locations in 2025 alone. The demand is there—it’s undeniable.”
How (and why) Richie grew from local operator to President of the Global Workspace Association
Richie was first introduced to the Global Workspace Association (GWA) by his and Charissa’s commercial broker, who specialized in coworking deals and was active in the group.
For Richie, it was an opportunity to gain a broader understanding of the industry and see how different operators were responding to the growing demand for flexible office space.
He explains, “GWA gave us perspective on just how big the demand for coworking was becoming and how many ways there are to meet that demand.”
That experience reinforced his conviction that coworking wasn’t a short-term trend, but rather an industry in motion, gaining momentum even as the traditional office industry struggled.
The more he engaged, the more invested he became.
And, in January of 2025, Richie was elected President of GWA—a reflection of his deep belief in coworking’s long-term trajectory.
“For too long, decisions in the industry were being influenced by vendors or service providers,” Richie explains. “I wanted to make sure operators—the ones actually running the businesses day-to-day—had a seat at the table.”
In that role, he’s been focused on driving the industry forward: creating space for operator voices, inviting landlords and capital partners into the conversation, and amplifying the data that shows just how fast demand is growing.
The exponential potential of the coworking industry
The Parsons are bullish on flex office space for one reason above all others: traditional commercial real estate isn’t working the way it once did.
“Full-floor tenants with massive budgets aren’t showing up the way they used to,” Richie says. “That’s forcing landlords and banks to take a second look at models like coworking. The demand is real. The industry is solid. The only lagging pieces are access to buildings and financing for new operators.”
That’s changing fast, and through GWA, they’ve made it their mission to accelerate that shift.
“We’ve invited landlords, REITs, and building owners to our conferences,” Richie explains. “We want them to see the statistics, the growth, the broad demand firsthand.”
He’s quick to share a few trends and stats he’s been privy to during his time with GWA:
- Globally, coworking has grown by $3 billion (from a $22B to $25B industry) between 2024 and 2025
- The industry is growing within the US, but because the US is a more mature coworking environment, the growth hasn’t been as stark
- While only 2% of commercial office space is coworking as of this year, that number is expected to explode to 30% in the next 5 years
- Coworking is shifting, especially in the United States, from the urban markets to the suburban markets
- By Q3 of 2025, suburban coworking had grown by over 20,000,000 square feet or 58%
- Coworking is disrupting the commercial office industry now more than ever, with 1 in 5 office space agreements signed in 2025 having been for flexible space (a number that continues to grow)
Landlords are buying in, and banks, Richie believes, will soon be forced to adapt.
“Banks technically own a lot of the office buildings out there,” he says. “They don’t want empty buildings or fire sales. At some point, they’ll have to see coworking as the safer bet. And when that happens, you’ll see coworking in every major office building.”
As landlords and banks continue warming up to the model and businesses of all sizes shift their office space philosophies, the coworking industry is teeming with opportunity.
The value of franchising for aspiring coworking operators
Richie and Charissa chose franchising because they wanted a proven framework and the weight of an established organization behind them.
“Franchises are designed to give you confidence, even if it’s your first time running a business or you’re breaking into a new industry,” Richie says. “When we started in gyms, we needed the ABCs of business, and it paid off. Venture X gives you that same support in coworking—real estate guidance, operational systems, connections to other owners. You don’t have to figure it all out yourself.”
Charissa adds another dimension: credibility.
“When you go to a landlord to secure space or to a bank to get financing, it matters that you’re part of a proven franchise,” she says. “It’s not just Richie and Charissa’s coworking spot. It’s Venture X. That brand recognition makes a difference.”
That credibility, paired with Vast Coworking Group’s network, has helped them accelerate their growth.
Why the Parsons are betting their time, capital, and careers on coworking’s future
Richie and Charissa have gone all-in on coworking: five locations open, more underway, and Richie now leading one of the industry’s most important associations.
They aren’t theorizing about where the industry is headed. They’re betting on it with their time, capital, and careers.
And their bet makes sense.
The traditional office market is contracting, while flexible workspace is expanding—both in urban and suburban areas.
For prospective investors, the takeaway is simple: coworking isn’t speculative. It’s inevitable.
The Parsons know it, and that’s why they’re all in.
Curious if a coworking franchise might be the right business for you? Discover opportunities with Venture X today.