- Flexible workspace franchise Venture X has signed its 100th location.
- The milestone comes after the company expanded internationally.
- Looking ahead, the brand is aiming to sign additional franchise agreements in various locations by year’s end.
Venture X, a franchise globally-recognized for its high-level, boutique hotel-style coworking spaces, has officially sold more than 100 locations. This follows a prosperous first seven months of the year in which 46 agreements across five countries and nine states were signed. All 46 come as a result of new franchisees joining the system.
Two factors fueling Venture X’s milestone growth announcement are its expansion internationally and multi-unit development deals, both of which continue to be major focal points for the brand. In fact, as recently as last month, the franchise closed on a master license partnership that will introduce its workspaces to professionals throughout the United Kingdom and Ireland. Additionally, Venture X has signed agreements in Dubai, Toronto, and Western Australia and is pending deposits in Brazil, New Zealand and France.
“It’s incredible the strides our franchise has made over the last couple years,” said Venture X President Jason Anderson. “It wasn’t long ago when we were actually describing to prospects what ‘coworking’ was. The landscape of the preferred workplace setting is changing rapidly, and entrepreneurs around the globe understand Venture X provides an unparalleled experience with versatile, welcoming spaces that are just as innovative and dynamic as the modern professional.”
Sustaining growth stateside has also played a pivotal role in propelling the brand forward. In 2019, the franchise has inked deals in business hubs throughout the United States to join an already strong network of existing franchise locations. States where agreements have been signed include a 14-location deal in Pennsylvania and deals in Florida, California, Massachusetts, New York, North Carolina, South Carolina, Texas and Virginia.
Looking ahead, the brand is aiming to sign additional franchise agreements in various locations by year’s end. Target markets for future development include international locations, such as Sydney and Melbourne, and domestically in Atlanta, Austin, Houston, Los Angeles and San Diego.
Many Venture X franchisees have backgrounds in real estate, finance, hotels or have experience as landlords. Currently, the franchisor is seeking single-unit operators, with multi-unit development offered in the future. The brand’s initial franchise fee is $79,500 with a total investment cost ranging from $1.1M-$3.4M.
“What franchisees love most is the information and quantifiable value we provide to help them make an educated decision. Because of the sizeable amount of industry-related data we’re able to source, we can convey how secure an investment opportunity with a shared workspace franchise is while, in the same breath, showing them the competitive value of Venture X,” said Anderson.
Backed by the powerhouse United Franchise Group — a group of affiliated, award winning franchise companies and brands — Venture X has the support needed to grow exponentially, both stateside and abroad, in the coming months and years.
