Venture X
Coworking spaces- 2023 Franchise 500 Rank
-
#361 Ranked #261 last year
- Initial investment
-
$388K - $3.6M
- Units as of 2022
-
49 122.7% 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
- United Franchise Group
- Leadership
- Michael White, Brand President
- Corporate Address
-
2121 Vista Pkwy.
West Palm Beach, FL 33411
Business Overview
- Franchising Since
- 2016 (2023-2016 years)
- # of employees at HQ
- 192
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees worldwide.
- # of Units
- 49 (as of 2022)
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
Information Circle - $60,000
-
Initial Investment
Information Circle - $388,090 - $3,636,710
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Cash Requirement
Information Circle - $100,000
-
Veteran Incentives
Information Circle - 10% off franchise fee
-
Royalty Fee
Information Circle - 6%
-
Ad Royalty Fee
Information Circle - 2%
-
Term of Agreement
Information Circle - 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-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail Marketing
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- Yes
-
Can this franchise be run from home/mobile unit?
Information Circle - No
-
Can this franchise be run part time?
Information Circle - No
- # of employees required to run
- 2
-
Are exclusive territories available?
Information Circle - Yes
Interested in ownership opportunities like Venture X? Request a free consultation with a Franchise Advisor now.
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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