As another year comes to a close, ‘tis the season to start considering which exciting business ventures to embark on next. When evaluating potential franchise opportunities, factors like industry demand, profitability, the franchisor’s proven systems, and training and support are all top of mind.
Based on these factors and more, investing in a coworking franchise should be your first business venture in 2020. Here’s why:
The Coworking Industry is Booming
The coworking industry has grown rapidly since its inception in 2005 – in fact, the industry has been growing at an average annual rate of 23 percent since 2010. The U.S. surpassed the UK this year as the world’s leader for shared workspaces, with more than 5,300 locations nationwide. With explosive growth that shows no signs of slowing down, coworking is the future of work.
Watch the video below to see more about where the coworking industry is headed.
As you can see, flexible workspaces are thriving. Over the last 18 months, coworking has accounted for one-third of U.S. office leases. In addition, investors predict shared workspaces will make up 10-20 percent of total office space by 2030, compared to roughly 2 percent today. The coworking industry isn’t done growing yet, and now is the time to join this rapidly-expanding sector.
A Coworking Franchise is the Easiest Way to Enter This Exciting Industry
For those interested in joining the coworking industry, you could try to go it alone with an independent shared workspace, but opening and successfully running a coworking space isn’t quite as easy as it looks. A coworking franchise allows you to enter the flexible workspace segment while backed by the proven systems and support of a franchisor.
With a franchise, the franchisor is there from day one to help you succeed in your business. Venture X coworking spaces are a completely turnkey opportunity, with support and training every step of the way. Venture X franchisees receive one week of initial training at our headquarters in West Palm Beach, FL, three weeks of on-site training and ongoing support to ensure their success.
In addition, Venture X is backed by franchising powerhouse, United Franchise Group, with more than 30 years of industry experience.
If you’re looking for an investment in an industry with high demand, look no further than the coworking industry. The coworking segment is poised for continued expansion, and there is ample opportunity for franchisees to stake their claim and succeed.