West Palm Beach-Based Coworking Franchise Recognized by South Florida Business Journal
MIAMI (August 19, 2019) – Venture X — a global, shared workspace franchise based in West Palm Beach, Fla.— was officially ranked as one of South Florida’s 2019 fastest-growing private companies at the South Florida Business Journal Fast 50 awards presentation last Thursday. President Jason Anderson and several members of the team attended Thursday’s event to accept the ranking as Venture X earned the No. 3 spot on SFBJ’s top companies with less than $25 million in revenue.
Held inside Miami’s Jungle Island, the 2019 Fast 50 awards presentation celebrated a diverse group of private, South Florida-based companies for their achievements in percentage growth over a two-year timeframe. Companies who met SFBJ’s criteria – privately-held, headquartered in South Florida, in business for at least three full years and documentation to support revenue growth – were invited to complete a survey for Fast 50 consideration. Qualifying companies were then divided into two award categories: fastest-growing private companies with less than $25 million in revenue and more than $25 million in revenue.
From 2016 to 2018, Venture X reported an impressive percentage growth of 291.65% during that period.
“It’s exciting to see the continued growth of our franchise earn recognition – right in our own backyard, no less – from such a respected publication like the South Florida Business Journal,” said Anderson. “We’re honored to accept this award, and it just speaks to how much Venture X is standing out in an industry with so much potential. As more and more professionals continue to transition to coworking spaces, entrepreneurs recognize the excellent and unique franchise opportunity we offer.”
The Fast 50 accolade also highlights Venture X’s development so far in 2019. Through the first two quarters, the franchise has received 46 signed agreements and announced last month it has surpassed 100 locations sold. By year’s end, Venture X is eyeing continued development in markets around the globe, such as: Sydney (Australia), Melbourne (Australia), Atlanta, Austin, Houston, Los Angeles and San Diego.
Venture X’s membership-based model has seen rapid growth since its start in 2012, moving even faster in recent years through the power of franchising. With more than 100 signed locations in 26 countries, Venture X is primed to continue rapid expansion in both the United States and abroad. 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 in the coming years.
Many Venture X franchisees have backgrounds in real estate, finance, hotels or have experience as landlords. Currently the franchisor is seeking single-unit operators and multi-unit development operators in a variety of attractive markets. The brand’s initial franchise fee is $79,500 with a total investment cost ranging from $1.1M-$3.4M.
About Venture X
Venture X is a membership-based, shared workspace and community that is a blend of boutique hotel and modern office styles with a high level of design that feels professional and welcoming. It is designing beautiful spaces and developing an environment and community that people love coming to work to every day. Venture X is a member of United Franchise Group, a group of affiliated companies and brands, and has been recognized by Inc. as one of the best coworking spaces in the United States. The brand anticipates being the third largest coworking space in the word by the end of 2022. For more information about locations, visit venturex.com, and for information about franchise opportunities, visit venturexfranchise.com.
About UFG
Led by Founder and CEO Ray Titus, United Franchise Group is home to a variety of brands, including Signarama, Fully Promoted, Experimax, Jon Smith Subs, SuperGreen Solutions, Transworld Business Advisors, Accurate Franchising, Venture X and the Great Greek Mediterranean Grill. With over three decades in the franchising industry and more than 1,600 franchisees throughout the world, United Franchise Group offers unprecedented leadership and solid business opportunities for entrepreneurs.
