- Coworking space operator, Venture X, experienced significant growth in 2020.
- The company sold 27 new franchise locations last year.
- Venture X also opened 15 new spaces in 2020.
WEST PALM BEACH, Fla. (January 13, 2021) – In a year where many companies opted for remote work solutions in response to the pandemic, Venture X – a leading flexible office space provider renowned for its high-level, professional, hotel-style spaces across the globe – experienced a notable and impressive year for franchise sales growth in 2020.
Despite the difficult economic realities COVID-19 presented, Venture X opened 15 new spaces and accepted 27 development agreements last year, 22 of which came following the arrival of the pandemic.
“Now more than ever, today’s workers are looking for alternative solutions to remote-work schedules,” said Venture X President Jason Anderson. “Combined with the design, features and overall uniqueness of our flexible office spaces, Venture X is an incredibly attractive workspace option and investment opportunity. We take great pride in understanding what the workforce prioritizes in a workplace, and we continue to offer a welcoming and hospitable first-class environment that allows companies and individuals to thrive.”
To compliment the 27 franchise agreements, Venture X opened 15 locations across seven states last year: Detroit, MI; Charlotte, N.C. (two locations); Durham, N.C.; Parsippany, N.J.; Rochester, NY; Bethlehem, PA.; Charleston, SC; Greenville, SC; Grapevine, TX and Castle Hills, TX; as well as three locations in Canada and one in Costa Rica. Additionally, Venture X was deemed an essential business in multiple markets and saw a significant increase (82%) in virtual office sales in 2020.
Much of the growth increase can be attributed to the company’s flexible-lease terms, which allow enterprises and individuals alike to operate without the overhead stresses or costs associated with traditional commercial spaces. Venture X’s sprawling spaces also allow for social distancing, complimented by the franchise’s heightened COVID precautions. Altogether, Venture X becomes a viable and attractive remote workspace option during a pandemic and beyond.
Looking at 2021, Venture X plans to parlay its current momentum into further success; the franchise’s goal is to open 30 locations and sign 100 more franchise agreements, six of which are slated to be international, by year’s end.
“As promising as 2020 was for our franchise in terms of growth, we are even more excited for what 2021 has in store,” Anderson continued. “This industry is always evolving, and the preferences and needs of professionals are always changing. We will continue to adapt with these everchanging demands; and, along with the support of United Franchise Group, we are confident these focuses will produce a growth year unlike any other for Venture X.”
Many Venture X franchisees have backgrounds in real estate, finance or hotels or have experience as landlords. Currently, the franchisor is seeking single-unit or multi-unit operators. Backed by the powerhouse United Franchise Group – a group of affiliated, multiple 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.
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. We are 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.
ABOUT UNITED FRANCHISE GROUP
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, Transworld Business Advisors, Accurate Franchising, Venture X, The Great Greek Mediterranean Grill, Network Lead Exchange and Resource Operations International (ROI). 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.