If you own a coworking office space or shared desk space, you already have a good understanding of the benefits of being a part of this exciting and growing industry. In fact, experts predict that the global coworking space industry is expected to increase dramatically from nearly $8 million in 2022 to more than $24 million by 2030. If you’ve been thinking about ways to raise the profile of your coworking business, invest in its growth, or even sell it and find a new professional path, we think you should consider converting it instead into a Venture X.
As a small business owner, you know that going it alone is a venture rife with potential pitfalls, regardless of the powerful products and services you may offer, a prime location, or even a huge following. Investing in a franchise, however, provides you with the chance to own a business with a number of advantages like an established operating model, bulk purchasing power, established vendor relationships, and regional or national brand power.
By converting your coworking business to a Venture X, you are making a great choice to position yourself for success with a company that has become an award-winning industry leader in a short time. We know the coworking industry inside out, and we will provide you with incredible support along the way and for the life of your partnership with us.
Virtual Office Solutions Mean Multiple Revenue Streams That Convert to Success
Venture X offers a range of memberships and virtual office solutions that feature a level of flexibility that hybrid and shared space workers (and entire businesses) are looking for. By converting to our model, you’ll be able to shore up your existing business by leveraging this appetite for flexibility. We do not require long-term contracts or terms, which is almost antithetical to a traditional shared office model, but we’ve found that it not only works – we’re thriving!
The beauty of our membership model is that we are also able to provide multiple, diverse revenue streams to our potential franchisees. These include offering exclusive virtual and community memberships, conference and meeting room rentals, event space, and even mailbox services. Our unique mixed-space approach allows franchisees to work for us to plan the optimal ratio of private offices to shared office desk options, large space dedicated to events and hosting external, third-party events, and even additional business services.
Our broad range of products and services for individuals and businesses includes:
- Private offices
- Dedicated desks
- Shared desk space
- Community membership
- Virtual office service
- Event space
- Meeting and conference rooms
- Podcast rooms
- Enterprise membership
- Class A business designation
Conversion and Transitional Franchise Support From Day One
You may already be a successful small business owner and, even more, a successful coworking office space owner, but we know that converting to a Venture X will set you up for even more success. And we will be with you every step of the way, providing you with training and support, real estate and configuration guidance, and a proven operating model to work within.
Our development group teams up with new franchisees to guide former independent operators through the Venture X transition by emphasizing brand standards, including interior buildout and design, floor plans, amenities, and more. We know, for example, how to determine the best mix of private offices and shared office desks and how to leverage rooftop, balcony, or even ballroom space to your advantage. This is based on our years of experience and also detailed demographic and market data designed to tailor your location to suit the needs of coworkers near you, and includes the addition of the Venture X brand standards in a way that also addresses the local look and feel of your corner of the world.
Our Coworking Office Space Investment and Financing Options
Curious about the investment you’ll need to make to convert your space to a Venture X? With our years of experience and more than 130 locations around the world, we’ve set up an investment structure that is clearly laid out and limits your exposure to unexpected costs and expenses. And as a part of Starpoint Brands, with a reputation for being the global leader for entrepreneurs (and a portfolio of franchise businesses under management), you can rest assured that we have created an investment that has been tested and proven to help you find success.
- Investment: $360K – $1M
- Liquid capital: $250K
- Net worth: $1M
- Franchise fee: $60K
- Royalties: 6% of gross revenue
For a detailed breakdown of the investment or answers to more questions about the process, reach out to us for a copy of our Franchise Disclosure Document (FDD).
When it comes to funding your franchise investment, we have great news: Venture X is a partner of Business Finance Depot, which has processed more than $120M in SBA loans and leases and has worked with Starpoint Brands and Venture X since we began franchising in 2016. Our partnership smooths the path to purchasing your franchise and has dramatically simplified the prequalification process.
This thoughtful approach to conversion can help franchisees increase their potential revenues by taking advantage of our suite of products and opportunities for a diverse revenue stream while at the same time leveraging our brand recognition and our global network of locations. As a member of this network, you’ll also have access to best practices, lessons learned, and innovation from fellow franchise owners.
Interested in converting your coworking office space to a Venture X? Reach out to us today to learn more about our franchise opportunity.