- 2024 Franchise 500 Rank
-
#463 Ranked #361 last year
- Initial investment
-
$431K - $3.3M
- Units as of 2023
-
52 48.6% over 3 years
Venture X was founded in 2012 in Naples, Florida as a business to provide flexible co-working and meeting spaces.
Venture X has been franchising since 2016 and now covers more than 30 locations in the United States, as well as several in both Canada and overseas. There are available markets in North America, Central and South America, Europe, Asia Pacific, and the Middle East. An ideal candidate for a Venture X franchisee may be a commercial property investor or a hotel owner.
Why You May Want to Start a Venture X Franchise
As a Venture X franchisee, you will be responsible for building a community for your workspace. Venture X may stand out from the competition because it offers a high-end work environment to clients who want to get a job done, but may not own offices with state-of-the-art facilities and technology. This may include freelancers or independent business people. The business technology used in the facilities is advanced and may create an excellent experience for clients, making it a popular choice.
Venture X provides franchisees with all the expertise that they need to succeed. By opening a Venture X location in your community, you can provide a co-working space to improve collaboration and communication for businesses and individuals. You will also provide opportunities for networking and mentorship. Franchisees may also receive in-house training at Venture X headquarters in West Palm Beach, Florida and on-site training at a currently operational franchise location.
What Might Make a Venture X Franchise a Good Choice?
To be part of the Venture X team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees.
Venture X may be a rewarding opportunity because the demand for co-working spaces is on the rise. The franchisor will assist in creating a state-of-the-art facility and in narrowing down your target market. You may see different income streams, such as community membership fees, mailbox rental fees, event space rentals, conference room rentals, and charges for additional services and technology solutions.
How Do You Open a Venture X Franchise?
As you decide if opening a Venture X franchise is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Venture X franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Venture X franchising team questions. Additionally, consulting with a financial planner and an attorney may help you prepare your business plan. Be prepared to meet with company executives to ensure that your goals align with the company culture.
Company Overview
About Venture X
| Industry | Business Services |
|---|---|
| Related Categories | Coworking Spaces, Miscellaneous Business Services, Miscellaneous Services |
| Founded | 2012 |
| Parent Company | Venture X Franchising LLC |
| Leadership | Jason Anderson, Brand President |
| Corporate Address |
2121 Vista Pkwy. West Palm Beach, FL 33411 |
| Social | Facebook, Twitter, LinkedIn, Instagram, YouTube, Pinterest |
More from Venture X
THE FUTURE OF WORKSPACE
Venture X is a premium membership-based workspace and community that is a blend of boutique hotel and modern office styles with a high level of design that feels welcoming. It’s much more than just shared office space. It’s a place where businesses launch, develop, and achieve success. It’s where entrepreneurial dreams are born and realized. The thriving business model it represents makes it an excellent franchise opportunity.
The way people work is changing. Technology and innovation through mobile devices, cloud computing and social networking allow people the freedom to work from anywhere at any time. Now companies large and small have discovered coworking as a great solution, providing the flexibility they need in an innovative, fully furnished space. Coworking is also the best way to attract and retain top talent in a new generation of workforce that wants flexibility, rich amenities, connections, community, collaboration, inspiration, meaningful relationships, and purpose in their place of work. Venture X provides just that.
Our smart, professional office spaces feature a modern design and open spaces, allowing entrepreneurs and businesses the flexibility to grow in an engaged community. This helps attract a more professional and diverse membership. While many other coworking spaces target only tech companies and startups, Venture X attracts a broad membership of entrepreneurs, creative professionals, freelancers, remote workers, startups, non-profits, as well as small businesses to large teams from Fortune 500 companies.
Take Coworking to a Whole New Level!
The days of working in traditional corporate structures or in isolation are over for many people in today’s mobile work world. That has led to a rise of coworking spaces that allow for environments that are flexible, collaborative, inspiring and connected.
- By 2027 – Freelancers will make up at least 50% of the workforce.
- The Coworking Industry is growing at a rate of 24% per year.
Like other “sharing” industries, Venture X franchisees simply provide the modern workspace, community and services to which members buy private memberships giving them access to open areas or private offices, whichever they prefer, and a network of a global membership. Many business models today are built on this shared model including Uber and Airbnb in the transportation and hospitality industries. Venture X is at the forefront of this growing trend. Venture X’s unique combination of the right mix of open space with higher revenue private offices allows for higher income opportunities. Additional revenue can be generated from event hosting and additional business services to further increase the bottom line of each location.
The Venture X Difference
It’s a global as well as locally connected community. It’s highly diverse and welcoming. It offers boutique concierge-style service. Venture X is a modern workspace community that is inspiring, diverse, and collaborative. It’s more than just shared office space. It’s a place where individuals and businesses launch, expand, and achieve success. It’s where members have a sense of belonging to a fulfilling rich community.
Not just for tech companies or startups, Venture X appeals to a wider membership base that includes creative professionals, freelancers, remote workers, and teams from large corporations. Venture X features a higher-level design than most spaces that lean to a less professional and a more juvenile, playful design.
There’s something for everyone at Venture X. Open spaces for those who want ongoing collaboration and private offices for those who want a mix. Private offices have solid sound insulated walls with glass walls toward the open areas to maintain the collaborative culture.
The private memberships expand to all locations, giving members access to all locations and all other members.
Revenue Streams & Offerings
- Private Team Offices: Fully furnished & lockable with 24/7 access. Available for two people or a whole team.
- Individual Private Offices: Fully furnished & lockable with 24/7 access. Benefit from being part of a larger community.
- Conference Rooms: Fully equipped with the latest presentation & conference technology.
- Dedicated Desks: Allow members to select a desk in the common area for their use only.
- Shared Desks: Offer a flexible full-time workspace solution, allowing members to choose any open seat in the common area.
- The Café & Lounge/Reception: Serve as a hub of activity and naturally foster the collaborative community. Free coffee, tea, & water.
World Class Support
We’re dedicated to the success of each Venture X franchisee and we have the systems in place to provide world-class training, operations and marketing support. Our professionals will provide comprehensive training, marketing launch expertise, and ongoing collaboration and assistance to ensure that your location gets the attention it needs to get off the ground and grow successfully.
Real Estate & Financing
- Location & set-up assistance to ensure your locations capitalize on exposure opportunities.
- Dedicated real estate team assists with demographics and lease negotiations on your behalf.
- Third party financial assistance.
Training
- Comprehensive training program at our West Palm Beach, Florida World Headquarters followed by on-site training at your location.
- Access to online training tools and collaborative systems.
- In-depth franchise operations manual.
Marketing
- Innovative marketing plans that include a multi-channel approach that focuses on your local market.
- Grand opening plans, PR campaigns, online marketing solutions, printed materials, and event planning programs, created by in-house marketing team.
- Cooperative advertising fund, designed to provide ongoing solutions for driving traffic to your location.
Ongoing Support
- Team of dedicated professionals committed to ensuring the success of your location with ongoing visits from support staff.
- Private access to downloads & information.
- Regional meetings and national conventions.
Business Overview
| Franchising Since | 2016 (8 years) |
|---|---|
| # of employees at HQ | 224 |
| Where seeking |
This company is offering new franchises throughout the US. This company is offering new franchises worldwide. |
| # of Units | 52 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Venture X franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$60,000 |
|---|---|
|
Initial Investment
|
$431,090 - $3,304,260 |
|
Cash Requirement
|
$100,000 - $350,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
6% |
|
Ad Royalty Fee
|
2% |
|
Term of Agreement
|
35 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Venture X has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 8 hours |
|---|---|
| Classroom Training | 33 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 2 |
|
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where Venture X landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Venture X ranked on other franchise lists? Find out below.
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