High Growth Category
Coworking represents 1.6% of commercial real estate, and is projected to grow to 30% by 2030.
Buying a multi-unit franchise is one of the fastest ways to build a business. Whether you’re looking to be an area developer for Office Evolution or adding to your existing portfolio of companies (a.k.a. being a multi-brand multi-unit franchisee or area developer), Office Evolution is the perfect opportunity to consider. We’ve listed a few reasons below. And, if you’d like more, feel free to download our complimentary Multi-Unit Franchise Brochure.
Get in touch and find out more today.
Each Office Evolution business center has been classified as an “Essential Service.” During times of turmoil, our business centers stay open and maintain our 93% recurring revenue business model. The success is largely in part to our overall strategy, which includes:
Big Picture - this means you can enjoy a very stable income stream – even in challenging times.
It is a high growth category that represents 1.6% of commercial real estate and is projected to grow to 30% by 2030. The growth of the solopreneur plus the right sizing of corporate office space has helped to fuel category growth. According to JLL, “No segment of the market has demonstrated more overall growth than the coworking industry. Given the massive amounts of venture capital that are being poured into the sector, this aggressive growth rate shows no signs of slowing. That’s why we expect flexible space to remain one of the office market’s primary growth catalysts for quite some time.”
Driven by the need to align workspace with business and workstyle needs, the coworking category continues to experience tremendous growth. As the category expands, we have carved out a significant and unique niche that our members value. Proudly, we are the largest network of locally owned and operated coworking locations in the nation. Here are some highlights of our key points of differentiation.
Coworking represents 1.6% of commercial real estate, and is projected to grow to 30% by 2030.
No company occupies this space: Suburban, locally owned national network of coworking spaces.
Own an Office Evolution Franchise and tap into this growing and profitable market.
Business savvy investors can reap the rewards of owning multiple locations.
The rapid growth of solopreneurs is fueling this $1 Billion per year category.
The growth of the solopreneur plus the right sizing of corporate office space has fueled category growth.
Subscription-based revenue model: 93%+ income is recurring.
Healthy work hours, Monday to Friday, 8 a.m. to 5:00 p.m.
Members and Franchisees live and work in the same community, close to home.
You'll have professional clients, just like you.
You hire one salaried, professional employee. That's it.
No need to worry about food, expiring inventory or cash.
Our culture is rooted in the core principles of “Ohana”, and it means family. Ohana defines how we work with our franchisees, and how we interface with our members. Learn more >>
We’ve got the best support team in the category. They eat, breath and sleep coworking and franchise, and they’re committed to supporting, teaching and coaching you to ensure success. Learn more >>
We’re growing! Office Evolution has been named in the Franchise 500 for 4 years running and named #1 in the Entrepreneur Franchise coworking category 3 years in a row, and we’ve doubled our network in size year over year!
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We’ve spent years developing company owned locations to fine-tune our winning formula. The results: Sustained growth for the last 16 years. Learn more >>
Truly. Get to know a few. Some are serial entrepreneurs who have founded and run other businesses. Many are former Fortune 500 executives. There are a few couples that have opted to leave the corporate world and work together in a sane environment. Together, they bring energy, insight and integrity to the Office Evolution team. We never forget that they’re a key factor in our collective success.
Have some questions about owning multiple units of your own Office Evolution Franchise? Check out our frequently asked questions below. If you still have questions after reading these FAQ's contact our team, we would love to chat with you.
Yes, Office Evolution prides itself on making multi-unit opportunities available within a given market. Feel free to check out our Multi-Unit Brochure to learn more about the opportunity for investors with bigger aspirations.
A multi-unit franchisee is someone who has purchased the rights to own and operate a number of franchises of the same brand within a territory. For those who can afford to do so, there are advantages to scaling up.
One location in a stronger market, for example, can offset mediocre returns from another. Multiple locations mean you may be in a stronger position to weather economic downturns. A single marketing program can benefit all your locations, employees can rotate between locations, and there are likely to be cost savings when you purchase equipment or supplies in bulk.
A successful multi-unit franchisee is a professional with a solid income history who is comfortable developing a business and managing both people and finances. Unlike the single unit owner who spends a lot of time in one location, the multi-unit owner hires managers for each location, visiting each while keeping an eye on the big picture. Of course, franchise organizations like owners to scale up, since they’ve proven themselves successful and know the brand, and they’ve already made connections within their local markets.
To find out about owning and operating several Office Evolution locations, check out our multi-unit brochure.
There are a lot of factors that go into answering this question, such as the location and number of members, whether the franchise is new or acquisition, etc. But we know it's a vital question for potential franchisees, and OE has worked hard to make both costs and profits as transparent as possible. Start by looking at Article 19 in your Franchise Disclosure Document (FDD). (Item 19 is a financial performance representation, and it must comply with the federal franchise rule and state rules. However, it is optional, and you might notice that some other franchisors choose to leave this section blank.)
Item 19 is where you'll find actual numbers (like revenue-to-rent ratio, set-up fees, royalties, etc.) provided by all franchise locations. Spend some quality time with Item 19, because it's going to give you a good idea of what you can expect to make, both in the first 12 months of your franchise and then down the road as your franchise ramps up. For those interested in owning an Office Evolution location, we'll walk you through Item 19 and explain how it is put together so you can project your earnings given the size, location, and membership of your operation.
Of course, we urge all new franchisees to sit down with existing franchisees to learn about their experiences, their challenges, and what works for them.
Source: Franchise Law Solutions
We offer franchise opportunities all across the nation including Los Angeles, San Diego, North Carolina, Philadelphia, Northern Virginia, Las Vegas, Phoenix, Dallas, Austin, Houston. I think you get the picture. An Office Evolution franchise is perfect for any suburban market where consultants, attorneys, accountants, architects, graphic designers, technology providers, professional services firms, etc… live and work! Let us know where you would like to open a location. We’ll let you know if the territory is available and whether we think it’s a good fit. If you‘d like to know more, connect with us so that you can learn about our franchise opportunities.
Coworking is a booming category. According to a JLL report, coworking/flexible workspace currently represents 1.7% of all commercial real estate. The category is expected to grow to 30% by 2030! This growth is being driven by an increase in the solopreneur and small business growth as well as an increased appetite from enterprise to put part of their property portfolio in flexible space/coworking. Office Evolution Franchise Specialists are equipped and trained to provide you with insights into the coworking category and why Office Evolution is a great choice for a coworking franchise.
The Office Evolution business model is perfect for any franchise owner who wants recurring revenue, the ability to work and live in the same area, a life outside of the office (you’ll work Monday to Friday 8am-5pm), to be around like-minded, professional business people. The OE Business Model is setup specifically for franchise business owners who don’t want to work with hourly employees, food, cash, or expiring inventory! If the OE business model sounds like it’s right for you then let’s connect and discuss further.
Yes. In fact, the coworking category is expected to grow to 30% of all commercial real estate by 2030, according to a JLL report. That’s largely because of the growing numbers of solopreneurs, small businesses, and the technology that allows people to work closer to home rather than commuting to the city.
Anytime you build something new, it takes time to reap the financial rewards. The same is true for owning and operating a coworking space. You’ll need to make a sizeable investment up front (for the space and FF&E), and then build your membership to a sustainable level. According to DeskMag, 72% of coworking spaces become profitable after two years in operation (in general, Office Evolution locations are moving faster than the national average – see Item 19 in the FDD).
In a typical coworking business, memberships count for 60% or so of revenue. Operators make additional revenue by providing services such as handling mail and billing, answering phones and renting conference rooms. Coworking spaces tend to generate more profit if they have a healthy percentage of private offices, and if they can operate with fewer employees. The Office Evolution model, for example, keeps your costs low by requiring owners to hire just a single Business Center Manager. The one-employee, manage-the-manager coworking space franchise model is attractive to a lot of people.