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Jonathan Price – CRE & Flex Expert
The shared office U.S. franchising leader enjoying 178 percent growth in 2018
BOULDER, Colo. – Office Evolution, the largest coworking franchisor in the U.S., looks to double down on its staggering 2018 numbers with 22 additional locations estimated to open in 2019 and 35 the next year. After 2020, Office Evolution is looking to open at least 50 locations a year.
With flexible workspace or coworking becoming the new normal, the category has seen an annual increase of 23 percent since 2010, according to a Jones Lang LaSalle Inc. report. Founded in 2003 with its original Louisville, Colorado location, Office Evolution began franchising in 2012. With more than half of the total locations opening in the past 24 months, the company took flight with nine locations opened in 2017 and 25 additional locations opened the next year.
“What separates Office Evolution is our commitment to serve a marketplace of entrepreneurs, solo-entrepreneurs and micro-entrepreneurs not typically included in the flexible workspace model,” Office Evolution Founder & CEO Mark Hemmeter said. “Our national network of workspaces is home for cost-conscious business owners living in the suburbs who need a place that enables, and more importantly, enhances their work. We are thrilled that our expansion is providing even more places for our community of dreamers and doers to do their thing!.”
Office Evolution, with 60 locations open and nearly 80 in various stages of development, is the fourth largest operator and largest franchisor in the U.S. and is recognized for its local ownership married with the resources and distribution of a national brand. With more than 24 million non-employer businesses in the U.S. and more than 3.5 million U.S. businesses with four employees or less, demand for shared office space is high.
“I am a serial entrepreneur and business owner who has walked the path of the clients we serve in our flexible workspaces today. I launched Office Evolution after I was finding difficulty focusing on business matters in my home,” Hemmeter added. “When you have children and need to work, it’s so important to be able to hit that switch from parent to professional. I gave shared workspace a try and immediately fell in love with the concept and the level of professionalism it provided small business owners and solo entrepreneurs.”
With dedicated work spaces, including private offices, conference rooms and shared workspace, Office Evolution has solutions for every business. There are also phone-answering services, address & mail services and other professional capabilities to make each small business owner exceed their goals.
Including a franchise fee of $39,500, the initial investment range to open an Office Evolution franchise is $288,000-$853,000. Each location is between 6,000-10,000 square feet, which includes an average of 23-40 private offices, 2-3 conference rooms and shared space for approximately 10-20 people.
“Potential franchisees try out our services because of our reputation and standing in the marketplace,” Hemmeter said. “But franchisees stay with us because of our ‘Ohana’ culture, strong family atmosphere and empathy for small business owners and the challenges they may face.”
About Office Evolution
Founded in 2003 and franchising since 2012, the Colorado-based company is the largest coworking franchisor in the U.S. With 60 locations open and nearly 80 in various stages of development, Office Evolution is leading the workplace revolution that is projected to see nearly 30 percent of all office space become shared office space by 2030, according to a JLL report. Office Evolution is currently operating in 23 states, including Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia. For more information, please visit https://www.officeevolution.com/
