5 Frequently Asked Questions About Investing in a Co-Working Space

Investing in a co-working space means you have made a decision to invest in yourself. There is always the small business route to open your own co-working space, but more and more entrepreneurs are choosing to invest in franchises, and for good reasons too. You want your co-working space business to offer competitive services to help retain customers such as a virtual office space, varying levels to accommodate different people with different needs, and other things that put you above the rest.

With a brand behind you to provide things like a business model and support, you will have what you need to open a co-working space that you could be proud of. But there are a lot of opportunities out there, and in order to find the right one, there are questions you should be asking to learn more about the industry and the different brands. Here are the top five frequently asked questions about investing in a co-working space.

virtual office space

#1. Is It Better to Start a Business or Invest in a Franchise?

Small businesses and franchises are the top options for owning a co-working franchise, and both share advantages and disadvantages. One of the biggest appeals of investing in a franchise over starting a business from scratch are the clearly defined costs that go into opening one. A quality co-working space franchise will have an investment that breaks down costs associated with a franchise such as training, support, products, materials, and more to get your franchise open faster. In addition, a well-known brand comes with a business model that has been tested and proven through past franchises that use it as well.

#2. Are There a Lot of Franchising Options?

Fewer people want to work in the traditional office setting, and as technology improves and more work is being shifted to online platforms, more people are working from home now than ever. According to an article in the Sydney Morning Herald, one in every three workers in Australia works from home regularly. This number has risen from 20 to 30 percent over just 15 years. Because more people are working from home and less in a traditional office space, the need for co-working space franchises has grown dramatically.

People are choosing co-working space franchises for the multiple locations they can choose from and the services they offer for the price. Venture X and other franchise opportunities are seeing a lot of success because customers like the flexible service options that fit their specific needs and the general collaboration and social interactions they get by working near a wide variety of people in different professions.

#3. What Is a Turnkey Investment?

A turnkey investment is something that certain franchise brands offer, and it goes beyond just a standard investment. Where the average investment comes with only a storefront and maybe a little bit of training, a turnkey investment comes with a complete package for the cost. This means you get just about everything you need to open a co-working space franchise.

For instance, Venture X’s turnkey investment offers a lot to help you open your dream franchise. It comes with training and support, a business model, multiple different resources, and more to help you get started on the right foot.

#4. Where Is a Target Franchise Location?

Co-working space franchises typically do well in areas that have easy transportation, a high amount of buildings and offices in the area, and a large enough car park for commuters to park. In addition to the exterior, if a co-working space franchise will have any likelihood for success, it must have enough space to provide private offices, shared desks, regular desks, conference rooms, and more so customers can receive a wide array of services for their own virtual office space. Venture X offers target markets that have been researched to determine they have the proper demographics for a co-working space franchise in Australia.

#5. What Is a Virtual Office Space?

A virtual office space is a service offered at Venture X that provides customers with a professional address for their business so their clients can send mail to an address separate from their home. In addition, this mailing address is at a location that is in a much more business-oriented city or town that clients will recognise and respect more. This is just one of the many services that Venture X offers for customers. They have mailbox services like the virtual office space but also have separate or shared desks, private offices, and even conference rooms to accommodate anyone working outside the traditional office.

If investing in a co-working space sounds appealing to you, check out more of our frequently asked questions.

How to Get Started on a Office Space Business Opportunity

Investing in an office space business opportunity is a great way to get into the workspace sharing industry with a newer concept that is surging with popularity. The sharing industry, or sharing economy as Forbes Magazine calls it, is a growing economic model that both younger and older generations are adopting and incorporating in their everyday lives. People are sharing more and owning less, which is why companies like Uber and Airbnb are thriving. Office space businesses are no different.

Shared office spaces are collaborative environments where people who may have never crossed paths professionally or personally can work together and bring new insight to whatever they are doing. They attract all kinds of different customers such as freelancers, contractors, entrepreneurs, and more to work someplace outside a traditional office setting.  Office spaces are a profound way to get into the sharing industry, which is growing immensely as more and more people are sharing goods and information with one another. Here are the steps on how you can get started with an office space business.

office space business opportunity

Find the Right Office Space Business Opportunity

Research is a very important first step to finding the right opportunity for you. Even though shared workspaces are a newer concept, there are a lot of options out there. One of the best things to search for when you are trying to find the right opportunity is a co-working space franchise. A franchise may serve as the best office space business opportunity because a franchise has a reconiseable name that people already know and trust to provide the services they need. Establishing your own small business means you need to find customers who are not already committed to a franchise or are willing to make the switch. Office space franchises offer competitive services and prices that may prove to be beyond what a small business could handle.

Instead of starting a business from scratch, investing in an office space franchise right from the start may potentially prove to have profitability where a business might not.

Invest in the Right Office Space Business Opportunity

Once you decide that an office space business franchise is the right opportunity for you, the next step is finding the right one to invest in. A lot factors into a quality franchise investment, but one that is important to acknowledge is that the best franchises do not always come for the lowest price. A franchise opportunity may offer a low price, but it may not come with anything except the brand name. Without training, support, and resources behind you and your franchise, the cost to run one may end up being more expensive than the original investment.

Finding a franchise that offers a turnkey investment is the best choice for an office space business opportunity. A turnkey investment comes as a package that contains things such as training, support, marketing materials, lease negotiation help, and more to make sure you have everything you need to run an office space business more poised for success.

Open an Office Space Business You Are Proud Of

With the right brand behind you, you should have what you need to have an office space business that you want to work in every day. Brands like Venture X understand that the success of their brand has a direct correlation to the success of franchisees and want to do their part to help them. With in-depth training and ongoing support even after you open, you know you have invested in an office space business that you can be proud of. Venture X is the office space business opportunity that may be perfect for you.

For more information about office space business opportunities and Venture X, visit our website.

3 Reasons Why Clients Love Venture X

When considering the marketing demographics for your shared office space provider, it is important to think about who your clients are. A co-working franchise serves a wide variety of people who are looking for a workspace outside the traditional office setting. These people are coming from backgrounds as freelancers, contractors, people who work from home, and many others. They turn to co-working franchises because they want to work in a collaborative office environment that provides them with the resources they need for their business and allows them to interact with others outside of their profession. However, these clients do not just choose any shared office space provider. They often choose Venture X franchises, and here are three reasons why.

Shared Office Space Provider

#1. A Franchise Means Consistency

Clients like knowing exactly what to expect when they choose a co-working space. Whether a client has to move around from place to place for their jobs or is just looking for a reliable place to work every day, a co-working franchise can offer consistency at every franchise location. A client can find a Venture X location somewhere like Sydney or halfway around the world in Florida. Regardless of where a client is, there is oftentimes a Venture X franchise nearby with consistent plans and memberships available. In addition, every Venture X franchise follows the same business model that is adaptable to most countries, so clients can have a similar experience no matter where they go.

#2. Clients Choose a Shared Office Space Provider that Accommodates

Since we serve such a wide variety of clients, it is important that a shared office space provider like Venture X has a lot of varying plans and services to accommodate them. Clients do not want to pay more than they have to, and when they see that there is a plan that is perfect for them it will entice them to stay. The services and plans that a Venture X offers are a significant reason why clients love our co-working space so much. They come to work every day knowing that they have a plan that fits their specific needs.

Venture X franchises offer plans that cover one-day meetups, to shared desks, all the way up to private offices. In addition, Venture X franchises have conference rooms that can be used for meetings. The variety helps clients find the right plan for them, and they have options to adjust in accordance with what they need. Clients admire the flexibility that goes along with Venture X franchises in terms of plans and services.

#3. They Know the Franchisee Is Trained in the Industry

Clients want a shared office space provider who knows the industry and knows how to run a business. The co-working industry is growing, which means that the office space provider should be keeping up with the latest trends and technologies that are enabling the industry to thrive. Venture X clients love that the franchise owners they work with are experts in the industry (thanks to the top-notch training they receive). In addition, clients choose Venture X because they know that if a problem ever comes up within the franchise, the brand is always there to help.

Investing in a  shared office space provider like Venture X means having countless resources and ongoing support to help you with any issues that may come up along your franchising journey. Franchisees love Venture X because of their dedication to being a quality co-working space provider that’s invested in their growth. Clients can tell when franchisees dedicate themselves to their shared office space experience, which is why they love Venture X too.

For more information about why Venture X stands out from other shared office space providers, contact us today.