Venture X Reports Impressive Year-End Growth Totals
Release Date: 1/17/2020
- Coworking Space Franchise Continues Global Expansion in 2019 -
In a year where coworking dominated the office space conversation, Venture X – an emerging, flexible office space provider renowned for its high-level, boutique hotel-style spaces – experienced a record-setting year for franchise development. In 2019, Venture X opened its doors to 10 new locations across the globe while also receiving 29 signed agreements for 61 future locations, the franchise announced Thursday.
"As we enter into 2020, the popularity of coworking spaces continues to skyrocket since the beginning of the last decade," said Venture X President Jason Anderson. "Understandably, it makes for an attractive, but crowded, industry. Prospects want to know how your concept is different than the competition, and that's where we've really excelled as a brand. By developing a deep understanding of today's professionals and what they prioritize in a workspace, we're able to design a uniquely-tailored, dynamic environment that resonates with members and owners."
While many new franchisees took advantage of the Venture X opportunity last year, existing owners also played a part in opening new and/or expanding existing locations both domestically and internationally. Venture X expanded its footprint stateside – opening first-of-their-kind locations in the San Francisco Bay area, Richmond, Va., Marlborough, Mass., and Farmington, Utah – and also received signed agreements for international development in Costa Rica and Mexico City. Additionally, Venture X opened its first locations in the United Kingdom and Dubai in 2019.
Looking to 2020, Venture X has no plans to slow down – projecting to open approximately 30 locations by year's end. Target markets for future brand development include Houston, Atlanta, Los Angeles and Sydney, Australia, to name a few.
"At the end of the day, this is another very solid step on a long, successful journey for our franchise," said Anderson. "Much like it did 10 years ago, the industry will look very different in 2029. It's imperative we continue to analyze the data and evolve our concept to meet the needs of everchanging workers. We have the infrastructure and team in place to make sure we do just that."
Many Venture X franchisees have backgrounds in real estate, finance, hotels or have experience as landlords. Currently, the franchisor is seeking single-unit operators, with multi-unit development offered in the future. The brand's initial franchise fee is $79,500 with a total investment cost ranging from $1.1M-$3.4M.
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, 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.
For more information about the spaces, please visit www.VentureX.com. For information about franchise opportunities, please visit www.venturexfranchise.com.
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, SuperGreen Solutions, Transworld Business Advisors, Accurate Franchising, Venture X, The Great Greek Mediterranean Grill and Network Lead Exchange. 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.
This advertisement is not an offer to sell a franchise. Any offer to sell this franchise will be made by a Franchise Disclosure Document and only the following registration by Venture X Franchising, LLC in any state requiring registration prior to sale.
In New York: This advertisement is not an offering. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Such filing does not constitute approval by the Department of Law.
In California: These franchises have been registered under franchise investment law of the State of California. Such registration does not constitute approval, recommendation or endorsement by the Commissioner of Business Oversight nor a finding by the Commissioner that the information provided herein is true, complete and not misleading.
SOURCE Venture X
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