Coworking spaces have taken the commercial real estate industry by storm. In fact, experts report flexible workspace could take over as much as 30 percent of U.S. office space by 2030.
Landlords and real estate investors have already started catching on to the growing trend. A coworking franchise provides landlords the perfect opportunity to combine their business expertise with the industry knowledge, training and support of a proven franchise system.
Here’s why landlords should consider investing in a coworking franchise:
Completely Turnkey Opportunity
While landlords are experts at marketing properties, filling vacancies, and much more, starting and running a coworking space is not quite as easy as it seems. By investing in a franchise, landlords receive training and support from industry experts to set their business up for success from the start.
Our training program includes an initial one-week training program at our headquarters in West Palm Beach, Fla. In addition, we conduct three weeks of on-site training, to ensure our franchise owners are as prepared as possible to successfully run their business ahead of their grand opening. Lastly, we support our franchisees on an ongoing basis with monthly webinars, re-occurring field visits and marketing support. All of this makes for a completely turnkey experience for Venture X franchise owners.
Use your Coworking Franchise as an Incubator for Your Other Buildings
Landlords who own big office spaces typically prefer leasing to large tenants. A coworking space allows you to earn the business of small companies and startups, providing the space and tools they need to grow their business. Then, as companies grow within your coworking space, they can move into your larger office building down the road.
Occupy Unleased Space with a Shared Workspace
Do you have office space you haven’t been able to lease? Rather than let that unleased space continue burning a hole in your pocket, you can invest in a coworking franchise to occupy that space, build your business and start making money.
As an increasing number of businesses turn away from long-term leases, the monthly membership model of Venture X offers the cost effectiveness and flexibility companies of all sizes are seeking. This will make it easier for you to find occupants for your space and see a return on your real estate investment.
Coworking Space is an Amenity for Your Complex
For those who own large office complexes or business parks, adding a coworking space provides an additional amenity for your complex. Flexible workspaces offer a more collaborative, creative environment for professionals as well as many other services and amenities that businesses and their employees can benefit from.
From private meeting and conference rooms to space available to rent for large events, coworking spaces offer advantages for members and non-members alike. The local business community in your existing complex will enjoy the professional services and networking opportunities available at a coworking space.
Similar Business Model
While Venture X operates on a membership-based model rather than leases, coworking franchise owners and landlords both still operate under a similar business model. Landlords will be familiar with managing the numbers it takes to run a coworking space – expenses include rent, utilities, maintenance and staff, while income includes membership fees and add-ons. In addition, landlords are well-equipped to market their space and attract members.
Coworking space is where the future of corporate real estate is headed. As the coworking industry continues growing to meet the demand of the ever-changing workforce, now is the time for landlords and real estate investors to invest in flexible workspace.