The shared office U.S. franchising leader fueling a workplace revolution and is enjoying record growth since launching in 2003
BOULDER, Colo. – Office Evolution, the largest coworking franchisor in the U.S., is turning 16! The brand, which is looking to double down on its 2018 numbers with 22 additional locations estimated to open in 2019, has many milestones to celebrate on its Sweet 16 birthday.
With flexible workspace or “coworking” becoming the new normal, the category has seen an annual increase of 23 percent since 2010, according to a Jones Lang LaSalle Inc. report. Founded in 2003 with its original Boulder, Colorado location, Office Evolution began franchising in 2012. With more than half of the total locations opening in the past 24 months, the company took flight with nine locations opened in 2017 and 25 additional locations opened the next year. In addition to the 22 locations planned for this year, Office Evolution is looking to add 35 in 2020 and at least 50 locations per year following 2020.
“What a great honor to see your business surpass 16 years of life,” Office Evolution Founder & CEO Mark Hemmeter said. “Every member of our Ohana – which is a family in Hawaiian – are valued and appreciated and instrumental to Office Evolution’s success. What separates Office Evolution is our commitment to support a marketplace of entrepreneurs, solo-entrepreneurs and micro-entrepreneurs not typically served by the flexible workspace model. Our locally owned, national network of workspaces is home for cost-conscious business owners living in the suburbs who need a place that enables, and more importantly, enhances their work. We are thrilled that our expansion is providing even more places for our community of dreamers to do their thing!”
In addition to its remarkable growth, Office Evolution has been recognized by the Inc. 5000 list for Fastest-Growing Private Companies in America, as well as Entrepreneur Magazine’s Franchise 500.
“Our explosive growth of franchise locations and members within those locations is a clear indicator that the Office Evolution offering is right at the pulse of what business needs,” said William Edmundson, COO.
The coworking franchise, with 62 locations open and nearly 80 in various stages of development, is the fourth largest operator and largest franchisor in the U.S. and is recognized for its local ownership married with the resources and distribution of a national brand. With more than 24 million non-employer businesses in the U.S. and more than 3.5 million U.S. businesses with four employees or less, demand for shared office space is high.
With workspaces, including private offices, conference rooms and shared workspace and services including phone-answering, address & mail and business support, Office Evolution members have the exact foundation required for success.
Including a franchise fee of $39,500, the initial investment range to open an Office Evolution franchise is $288,000-$853,000. Each location is between 6,000-10,000 square feet, which includes an average of 23-40 private offices, 2-3 conference rooms and shared space for approximately 10-20 people.
“Potential franchisees try out our services because of our reputation and standing in the marketplace,” Hemmeter said. “But franchisees stay with us because of our ‘Ohana’ culture, strong family atmosphere and empathy for small business owners and the challenges they may face. That’s the Office Evolution difference.”
About Office Evolution
Founded in 2003 and franchising since 2012, the Colorado-based company is the largest coworking franchisor in the U.S. With 62 locations open and nearly 80 in various stages of development, Office Evolution is leading the workplace revolution that is projected to see nearly 30 percent of all office space become shared office space by 2030, according to a JLL report. Office Evolution is currently operating in 23 states, including Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia. For more information, please visithttps://www.officeevolution.com/