Financial
Performance

MULTIPLE REVENUE OPPORTUNITIES THROUGH MEMBERSHIPS, EVENTS AND SERVICES

FINANCIAL PERFORMANCE REPRESENTATIONS

VENTURE X FRANCHISE IS A COLLABORATION THAT BRINGS TOGETHER SOME OF THE BEST BUSINESS MINDS IN THE INDUSTRY.

The FTC’s Franchise Rule permits a franchisor to provide information about the actual financial performance of its franchises and/or franchisor-owned units, if there is a reasonable basis for the information, and if the information is included in the disclosure document. Financial performance information that differs from that included in Item 19 may be given only if: (1) a franchisor provides the actual records of an existing outlet you are considering buying; or (2) a franchisor supplements the information provided in this Item 19, for example, by providing information about possible performance at a particular location under particular circumstances.

front desk

COWORKING 3.0

The disclosures in the below table contains historical information related to peak occupancy rates for our Venture X locations in operation during calendar year 2019. There were 19 Venture X locations in operation during 2019.

PEAK OCCUPANCY PERCENTAGE FOR ALL OPEN VENTURE X LOCATIONS

LENGTH OF TIME SINCE GRAND OPENING NUMBER OF LOCATIONS AVERAGE PEAK OCCUPANCY MEDIAN PEAK OCCUPANCY MET OR EXCEEDED AVG PEAK OCCUPANCY
Over 1 Year 11 72% 66% 55%
Over 6 Months* 17 64% 64% 53%
Less Than 6 Months 2 32% 32% 50%
Total Locations 19 56% 64% 49%
*The row of information titled “Over 6 Months” includes the data for Venture X locations open for over one year

On average, the Venture X locations in the Peak Occupancy Percentage table above have been open for 13 months. Fifty-eight (58%) of the locations have been in operation for more than 13 months, and forty two percent (42%) have been in operation for less than 13 months.

SIZE AND CAPACITY OF VENTURE X LOCATIONS

The disclosures in the tables contain information related to the square footage and number of available seats for the 19 Venture X locations, that were actively open in 2019.

AVAILABLE SEATS FOR VENTURE X LOCATIONS SEATS
Total Number of Available Seats 3,706
Average Number of Available Seats 195
Median Number of Available Seats 164
SQUARE FOOTAGE FOR VENTURE X LOCATIONS SQ FT
Total Usable Square Footage 332,000
Average Usable Square Footage 17,474
Median Square Footage 14,500

IMPROVEMENTS AND RENTAL COSTS FOR LEASED VENTURE X LOCATIONS

The disclosures in the below tables contain historical information related to the tenant improvement allowances (which includes amounts contributed by the landlord) and months of free rent for Venture X locations which are leased properties (and not owned by the current franchisee) who used the services of our affiliate, Franchise Real Estate. This data is for all Venture X locations which are leased properties and includes 14 of the 19 open locations in the United States as of December 31, 2019.

TENANT IMPROVEMENT ALLOWANCE (OR LANDLORD CONTRIBUTION AMOUNT) TO LEASED VENTURE X LOCATIONS AMOUNT
Average Tenant Improvement Allowance $969,400.10
Median Tenant Improvement Allowance $782,000.00
On average, these leased Venture X locations in the TIA table above were allowed $969,400.10 in tenant improvements costs (or alternatively, received some or all that cost in the form of a landlord contribution).
NUMBER OF MONTHS FREE RENT FOR LEASED VENTURE X LOCATIONS MONTHS
Average Number of Months of Free Rent 6.73
Median Number of Months of Free Rent 6

On average, these leased Venture X locations received 6.73 months of free rent.

Some outlets achieved these results. Your individual results may differ. There is no assurance you will achieve these results.

We do not make any representations about a franchisee’s future financial performance. Except for the information provided above, we do not make any representations about the past financial performance of franchised outlets. We also do not authorize our employees or representatives to make any such representations either orally or in writing. If you are purchasing an existing outlet, however, we may provide you with the actual records of that outlet. If you receive any other financial performance information or projections of your future income, you should report it to the franchisor’s management by contacting Jill Klein, General Counsel, 2121 Vista Parkway, West Palm Beach, FL 33411, 561-640-5570, the Federal Trade Commission and the appropriate state agencies.