Venture X Finds Sweet Spot in Booming Shared Workspace Category

Globally Recognized Coworking Space Franchise Fills Void between Hipster & Formal

WEST PALM BEACH, Fla. — As 21,306 coworking spaces are projected to open by the end of 2019, Venture X^® is emerging as a top-tier player by filling an obvious gap in the exploding shared workspace category – the middle ground between millennial playgrounds and stiff suit-and-tie work environments.

“We designed our shared workspaces to feel modern and professional, a collaborative community where you can get your work done without the distraction of office parties or ping pong tables, but not so stuffy you feel the need to wear a suit and tie,” said Venture X President Jason Anderson. “We continue to grow because we fill a unique demand for warm and welcoming office environments that meet the needs of seasoned professionals.”

Starting off as simple shared office spaces in the 2000s, coworking has since evolved to spacious facilities equipped with ping pong tables and beers on tap, or, on the contrary, exclusive and elitist communities focused on networking. Positioned perfectly between the two, Venture X is focused on ‘coworking 3.0’ – providing smart, professional office spaces with a modern design aesthetic and boutique concierge-style services, allowing entrepreneurs and businesses the flexibility to grow in a diverse, engaged community.

The approach is working. 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 60 signed locations in 18 countries, and a goal to open 21 locations by the end of Q1 2019 alone, Venture X is primed for industry dominance both internationally and domestically. 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.

Anderson, an Air Force veteran whose impressive resume includes key positions at Premier Property Management Group and Chief Technology Officer at United Franchise Group, and being named on Forbes 30 under 30 list, said Venture X has set a goal to have 100 locations open by the end of 2022. The brand already has a strong presence domestically in Texas and is growing its footprint with new locations in Florida and Colorado, as well as internationally in Canada, Europe and across the Middle East.

“From finding the real estate to laying out the design plan for their facilities and providing state-of-the-art software to run their business, Venture X franchisees are supported every step of the way,” said Anderson. “The growing popularity of coworking, combined with the opportunity for recurring memberships, multiple revenue streams and minimal overhead, we’re seeing elevated interested among those who want to invest in our shared workplace franchise. ”

Venture X facilities consist of modern boutique office spaces designed by world-renowned architecture firm, Gensler and features high-end Herman Miller furnishings. Venture X franchisees enjoy the leisure of having all design plans and furniture taken care of, minimizing additional stress and responsibility. In a strategic alliance with essensys, a market-leader in mission-critical software for coworking spaces, Venture X franchisees can leverage comprehensive capabilities that help to onboard and manage customers, maximize occupancy, automate revenue, streamline operations and more. With essensys technology, franchisees experience further ease and support in minimalizing their workload, lowering staff costs, and delivering an excellent customer experience.

Many Venture X franchisees come from backgrounds in real estate, landlords, hotels or the financial sector. 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 $900–$2.5M.