High Growth Category
Coworking represents 1.6% of commercial real estate, and is projected to grow to 30% by 2030.
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.
Work close to home and achieve Work-Life balance.
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!
Learn more >>
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 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.
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.
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.
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.
We offer all the business services needed to enable our franchisees to have a one-employee model. With trusted partners like TriNet, we offer HR, payroll, insurance, health care, high-speed internet, legal guidance, a recurring payment platform, etc. Our entire team, including our executive staff, marketing, sales, operations, real estate, and business consultants, are on board to support our franchisees to run their businesses with incredible efficiency. To discuss specific business services and the team that provides them, get in touch with us and we’ll walk through the service offering in depth.
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.
When you're starting, you search for franchise opportunities, check out the franchise and small business brokers you find online. Each has a slightly different focus. For example, frannet.com and franchoice.com are both franchise consulting businesses. They'll help you target the type of business that best meets your goals through a questionnaire and interview. They'll broker the deal, help you come up with a business plan, and can provide some ongoing education.
Sites such as Franciseopportunities.com and Bizbuysell.com are online portals/brokers that list hundreds of franchises and small businesses to buy and sell. These are typically segmented by industry, investment level, state, etc. so you can begin to narrow your search.
As a helpful tip, look for a company that is growing but has not yet saturated the market in your area, in an industry that is projected to grow over the next few years. Also, consider the culture and core values of the franchise you're considering to make sure it's a good fit for you. You might even consider working in one of the locations for several months to gain some insider knowledge. Source: Forbes
Owning a franchise can be a very worthwhile business enterprise! If you've got an entrepreneurial streak, it's a chance to be your own boss, yet within the guidelines of the larger corporation. With your initial investment, you'll get training plus the support and marketing knowledge of a team behind you that has every incentive to make sure you succeed. According to a 2016 report in the International Franchise Association, franchise businesses are growing at a faster rate than non-franchise businesses. In 2018, there were approximately 758,000 franchise establishments in the U.S., employing a whopping 7.8 million people.
It's impossible to pinpoint the amount of money you can expect to clear on an annual basis; that would depend on the type of franchise you own, your territory, how many years you've been in business, and a host of other factors. To get a better sense of your earning potential, study the financials in the company's Franchise Disclosure Document (FDD). Consider it a red flag if the corporation shows a substantial percentage of franchise closures or terminations in the last few years.
Some companies are more transparent than others about providing financial details on each location, but all must provide audited financial statements for the past three years. Office Evolution prides itself on transparency so potential franchisees can get a good sense of profit in Year One and subsequent years. You can see that for yourself in Item 19 on its FDD.
Finally – and we can't stress this enough – talk to other franchisees to find out what their experience has been. Many will be forthcoming about their earnings as well as the challenges they've encountered on their way to success.
Sources: US News
Look online for lists of the franchises that require the least amount of upfront capital, and you'll find plenty in just about any category you can imagine. Some play on your prior professional expertise (stock trading, accounting, or construction, for example), while others require no expertise in a particular area.
One place to start looking: Entrepreneur.com's list of 24 solid performing franchises that require less than $25,000 initial investment.
Many lower-cost models are structured so you can use a home or virtual office, allowing you to save money on rent while claiming a home tax deduction. Some enterprises offer in-house financing, which might be a better deal than going to a bank for funding.
Make sure you check out the way the company structures its franchise fees so you'll know the amount of money you'll need to come up with on a regular basis. The good news is that these fees may be tax-deductible.
Finally, consider the other ongoing expenses you're going to have: the number of employees you'll need to hire, the equipment you'll need to buy or lease, inventory (such as food) that expires and must be thrown out, etc. When you consider those factors, the least expensive franchise may not be such a bargain after all.
The better question is: What's the best franchise for me to buy? If you're mechanically inclined and like to work with your hands, a brake shop, automotive repair, or contractor business might be right up your alley. Not one to shy away from the inside of a computer? There are several computer and phone repair operations to check out. And if food is your passion, it seems that there are more food-related franchises than you can count. The bottom line is to find a business you can feel passionate about.
Next, look for growth potential. Analyze the company's Franchise Disclosure Statement (FDD) to determine the average sales per unit. Then, do some market research. Is there a high demand for this product or service, or is there likely to be? Or do you think the market in your territory may be saturated already? Will this business bring value to the community?
Ask yourself if you're comfortable solving the types of challenges that will come up with this opportunity. Some franchises involve constant sales to generate revenue. Others require you to deal with expiring inventory, long hours, lots of full and part-time employees, or cash. None of these are problems, but all require time and juggling each day. You'll be successful in your endeavors if you're playing to your strengths.
Do you feel that you'll receive adequate leadership and support from corporate? Do they share your values? Some franchisors have a reputation for leaving you without guidance after you've plunked down your money. Others have a reputation for sending out inspectors to sanction you for violations without offering help or advice. Steer clear of any enterprise that has a lot of pending litigation with its franchisees. Ideally, you'll want an alignment that feels like a collaboration so that you're both working toward success.
Finally, talk to as many franchisees as you can. Are they happy with their investment in this company? Ask them how long it took them to become profitable if they encountered any hidden costs, and whether or not corporate was supportive when they ran into a problem or if they had a new idea. Take a look at the list of new franchisees and see how many of them are still operating after a couple of years.
Sources: Strategic Franchising
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