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With the coworking space industry expected to double in size within five years, Regus is looking for proactive, process-oriented and driven professionals to help expand the brand through franchise growth.
Regus, the professional coworking space franchise under parent company International Workplace Group (IWG), is set for major franchise growth as much of the working world shifts to remote- and hybrid-work following the COVID-19 pandemic.
But as the coworking field gets more crowded everyday, prospective franchisees need to act quickly before the best real estate gets taken. Although more and more entrepreneurs are recognizing the lucrative potential of the Regus coworking business model, the IWG team says they aren’t looking for just anybody to join the brand.
“The ideal candidate should have an understanding of all aspects of business, but most importantly an understanding of providing a great customer experience and marketing,” said Kurt Ullman, Director of Franchise Business Development for the brand. “IWG is looking for prospects who know how to grow within a branded framework, can move quickly and decisively to secure deals with building owners and customers, has the financial and organizational capability to open at least five locations over a two to three year period and has experience in a fast-paced sales and customer service-oriented business.”
To dive deeper into the professional and personal profile IWG is looking for in ideal candidates, here are the eight characteristics of a successful Regus franchise owner.
First and foremost, the IWG team says the ideal Regus candidate needs to be the one who takes the initiative and executes, while still being able to take direction from the brand. This person doesn’t wait for things to happen; this person makes things happen.
Candidates interested in joining Regus must also demonstrate the ability to follow the process and understand the need to do so, Ullman says. Ideal candidates will be conformists, who don’t want to invent anything new, just execute. They understand the process is proven and they want to focus on process execution, not development. With over three decades of experience, IWG has fine-tuned its franchise concepts to optimize revenue and provide franchisees with the support they need to scale their business.
The IWG team is also interested in prospective Regus franchisees who believe that their success depends upon them. They take responsibility for the business and the outcome. Results are about how they execute. The difference between the best franchisees in the system and the bottom performers is how they execute the model.
Candidates need to show a proven background of leading as well, according to Ullman. The ideal franchisee is someone who wants to lead and is able to build teams and take them to the next level while getting the most out of their people. Ensuring their teams are focused and up to the challenge is critical to success.
The right Regus candidates thrive in a team environment, says Ullman — they like to work with people and gain energy by working with others. They understand the importance of working collectively and supporting the group and are willing to make personal sacrifices for the betterment of the team. To ensure franchisees have the resources they need to build the best team, IWG also provides franchisees with professional support that covers recruitment and training for staff.
The IWG team says a Regus franchisee should always strive for excellence. The candidates should see the brand as more than just about creating coworking spaces; it should be about exceeding expectations rather than meeting them. These people want to be the best and be viewed as the best, Ullman says. They understand that people will pay a premium for quality and they know how to sell quality and intangible benefits, rather than sell on price or commodities. They want to build something that they can be proud of (above the financial reward) and be viewed positively in the community.
“As we look at COVID-19 and beyond, small private offices give clients a place where they can come in, close their door and feel safe,” said Ullman. “Additionally, companies like hybrid or remote work because it increases productivity and saves them money, while employees like a better work/life balance and less time commuting. We’ve been able to be a big part of that switch and we want franchisees who are excited to offer this in-demand service to their communities.”
Regus is also looking for candidates who feel comfortable with local advertising and marketing to build brand awareness. Prospects shouldn’t need to rely on national advertising and other marketing initiatives to drive traffic, Ullman says. They are proactive in their community and willing to be local brand ambassadors. They view marketing as an investment and not a cost.
Building upon their localized marketing mindset, Regus franchisees will also have the ability to leverage IWG’s highly effective marketing strategy and global sales platform, which generates over 100,000 enquiries every month. “We have about 2,500 people globally whose life and work is to market and drive occupancy for Regus and the IWG portfolio companies,” said Ullman. “Those are the kinds of benefits that our scale allows us to offer that competitors can’t touch.”
Overall, Ullman points out that Regus franchisees are competitive by nature and want to win — they want to be No. 1 and be recognized for it. They will take setbacks as challenges and won’t let problems get in their way, Ullman says. They will make it work no matter what. They are relentless in their pursuit of success and continuously show a can-do attitude.
Looking ahead, IWG hopes to find these types of qualified franchisees in markets across the country to encourage continued franchise expansion. The team hopes to add 60 new locations throughout the next year.
For more information, visit: https://www.iwgplc.com/en-gb/develop-a-location.
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