Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
Flexible workspaces are entering the franchisee game
The flexible workspace industry is growing at a rapid pace and is expected to continue shaping commercial real estate for years to come.
At this rate, coworking is expected to grow by 24% each year. Remote working is also expected to push flexible space occupancy as 50% of all workers will work remotely by 2020.
JLL estimates that 30% of corporate real estate could be turned into flexible offices by 2030.
IWG recently studied 18,000 business leaders in 96 countries to reveal why flexible workspaces have become a vital component of work life.
The survey showed that 89% believe flexible working can help their business grow, while 87% believe that it can help their business stay competitive.
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Now, franchise investors are taking advantage of this booming industry. Regus, the world’s leading provider of flexible workspaces, recently launched its own global franchise branch.
In order to successfully franchise these offices, developing shared office spaces should provide flexible options while maintaining quality amenities.
For example, Regus works with its franchisees to make sure they have the framework for the proper location and design and offer the 24-hour customer service it is known for.
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JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.