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- In 2021, IWG Plc doubled its franchise partners and increased its new franchise location commitments from 67 in 2020 to 150 last year.
- The flexible space company signed franchise deals in 15 new countries including the USA, India, Scotland, Italy, Malaysia and Spain.
- IWG’s global network continues to grow with more than four times the number of locations than its nearest competitor.
IWG, the world’s leading provider of flexible workspaces with around 3,500 buildings in more than 120 countries, continues to accelerate the growth of its global network, more than doubling the number of new franchise location commitments around the world in 2021 compared to 2020.
The results show a significant increase on the previous year’s figures, with a total of 150 new centre commitments compared to 67 in 2020. The rapidly growing franchise business comes on the heels of IWG adding over two million new customers to its global network in the past year as well as achieving sequential demand growth since March 2021.
The world’s largest provider of hybrid work solutions penned a number of country-first deals, including the USA, India, Scotland, Malaysia and Spain. In December, IWG signed its largest ever regional franchise deal with new partner Ratanakorn, committing to opening at least 40 locations over the next decade. Five new centres are expected to open in 2022 alone.
In the second half of 2021, the formation of a Joint Venture with Hysan Development was announced to acquire and operate IWG’s 32 existing locations across Hong Kong and the Greater Bay Area as well as a commitment to further expand IWG’s presence in the region.
IWG has been championing hybrid working as a way for global workforces to work effectively in different ways and in different places for years. The rapidly increasing adoption of hybrid work is being fueled by businesses realizing that they can attract and retain the best talent, while reducing their operating costs by shifting to the model.
Hybrid working – where employees divide their working hours between their company headquarters, their home, and a local flexible workspace – helps maximize productivity, while creating a more sustainable way of working for both people and the planet.
Mark Dixon, founder and CEO of IWG commented: “We have seen significant momentum in our franchise business, as a growing number of companies of all sizes commit to the hybrid model. The shift towards work happening in the heart of local communities everywhere – cities and suburbs, towns and villages will accelerate further over the coming years. IWG will continue to focus on partnering with a growing number of franchise partners to provide local workplaces that people can access close to home, no matter where they live.”
