Coworking Space Business
The face of the workforce is changing as we move further into the 21st century. In the past, the location was key to doing many jobs. Professionals needed to be face-to-face with their coworkers and clients to get the job done. Today, a laptop and an internet connection have replaced the need for face-to-face interaction in many professions. This is just one of the reasons for the emergence of the coworking franchise industry. Venture X is at the forefront of this growing trend.
COWORKING IS THE FUTURE OF BUSINESS
By 2026, The Bureau of Labor Statistics estimates 67.6 million Americans will be freelancers, temps, independent contractors, or entrepreneurs, making up a 9% growth of the workforce. Venture X provides an attractive opportunity for those workers who want to benefit from a rich work community.
The Venture X Difference
Not just for tech companies or start-ups, Venture X appeals to a wider membership base that includes working professionals, freelancers, remote workers, and teams from large corporations.
The space itself is a blend of boutique hotel and modern office styles. Venture X features a more upscale design level than most spaces that lean less professional and more to a juvenile, playful aesthetic.
There’s something for everyone at Venture X. Wide open spaces for those who want ongoing collaboration and private offices for those who need them. Ongoing social and educational events help workers to learn, network, and grow their businesses.
Our services are in demand among Freelancers
Freelancers are a growing demographic of professionals who require flexibility in their workspace. The number of freelancers in the United States is skyrocketing, with a growth rate three times faster than the overall workforce. By 2027, it’s expected that freelancers will make up at least 50% of the workforce, making them one of our key demographics.
Venture X plans are flexible and can be adjusted depending on what services our clients need at the time. Members can lease a shared workspace a few days a week for an affordable rate but can add more time as needed. This flexibility and affordability make Venture X a perfect fit for freelancers who need a workspace that fits their budget.
Coworking spaces are taking over the world
As the number of freelancers grows, there’s been a direct correlation to the growth of the coworking space industry. Even 10 years ago, facilities like ours weren’t common, but it’s predicted that there will be more than 30,000 coworking spaces and over 5 million members by 2022! In fact, the number of people who use coworking spaces is growing at a rate of approximately 24% per year. It’s estimated that by 2030, coworking spaces will make up approximately 30% of the U.S. office space market – a huge jump from its current standing at 5%. For instance, we’ve found that there’s a potential demand for as many as 20 Venture X facilities in the Chicago area alone! With rapid growth like this, you can be sure that there’s a need for a coworking space in your area.
Key Industry Trends
One important industry trend is the central role technology plays in the formation of coworking spaces. Some coworking spaces owners who operate on their own invest only in the bare minimum when it comes to technology. Venture X helps our franchisees start strong by guiding them as they create a technological infrastructure that can handle a large number of clients being “online” at any given time. We also help them secure technology that will attract clients like “smart” conference rooms and high-end video conferencing equipment.
Another trend to watch is new revenue structures. Businesses like hotels and commercial facilities might find that adding a coworking space to their portfolio is the perfect way to diversify their stream of income. Best of all, Venture X owners are able to further create new revenue streams by promoting optional services like mailboxes, event space rental, and conference rooms – an important addition to any coworking space.
Finally, while coworking spaces have always been popular among freelancers, larger corporations are beginning to see their benefits as well. The HSP Real Estate Group observes: “Many large enterprise users like Verizon, Toyota and IBM have realized the benefits of coworking spaces, proving that outsourced, temporary leasing structures are appealing to companies of all sizes, from corporate users to startups and entrepreneurs.” As larger companies begin to utilize coworking spaces more and more, Venture X franchisees can look forward to an even wider pool of potential customers.
FLEX, COWORKING and MEETING SPACE ON DEMAND
As the coworking industry quickly grows, so too does Venture X. Since 2012, we’ve signed more than 100 locations in more than 30 countries with dozens more on the way. The reason for this expansion? Our business model has been shown to work. People all over the world have fallen in love with our brand because of the in-demand services and comfortable, collaborative environments we offer.
Furthermore, we make it easy for franchisees to manage their single facility or open multiple locations. Whether you’re looking to become an owner/operator with a hands-on role, or an absentee investor who just keeps an eye on the big picture, we have the franchise opportunity for you. We’ve developed a number of support resources that make it easier than ever for you and your trusted staff to keep your business running smoothly. Our team of experts have opened Venture X locations around the world and are highly experienced in getting new facilities off to a strong start. These are just a few of the reasons Venture X has become a leading force in the coworking franchise industry.
Check out the About Us page to learn even more about what makes Venture X stand out in the coworking franchise industry!
