On Wednesday this week, WeWork officially filed to raise $1 billion in an initial public offering. As part of the process, the company filed the S-1 form, which revealed huge losses, indebtedness, and no time frame to become profitable. Not only is profitability not a priority for The We Company, but it also relies heavily on CEO Adam Neumann, who controls the company’s voting power and could take actions that other stakeholders do not see as beneficial.
Flexible workspace provider, International Workplace Group (IWG), announced earlier this week that it plans on launching its franchise program in Canada, in the hopes of accelerating its growth in the region. The company is reportedly seeking franchise partners with a minimum net worth of $3 million and a minimum of $1 million in liquid assets and IWG will offer franchise opportunities for all four of IWG brands: Regus, Spaces, HQ, and Signature by Regus.
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In the race to attract new members, coworking spaces are turning to unique amenities to capture the attention and business of professionals. Coworking space operators are using amenities like childcare, gourmet dining, on-site chefs, wellness programs, art galleries, access to healthcare, and much more in order to differentiate themselves from the competition in a rapidly growing market.