Coworking Spaces are a Franchising Trend to Watch in 2019

In 2017, there were approximately 1.27 million people utilizing coworking spaces worldwide, according to Statista. Per the same data, the shared office space industry is expected to steadily grow until at least 2022, creating ample opportunity for industry players to expand their reach. One such player is Office Evolution, a Colorado-based coworking franchise in the midst of accelerated expansion throughout the U.S.

Providing co-working spaces, virtual office services and fully-furnished offices and suites, Office Evolution is strengthening its position in the shared office space segment as industry demand continues to increase. To date, the brand has awarded 129 franchise locations across the nation.

The unique features coworking spaces provide are appealing for a number of reasons. First, the membership model is frequently low-cost which is ideal for entrepreneurs working to get their business off the ground. They get access to a number of great amenities without having to pay the high price for real estate, cleaning and maintenance fees and other location-related costs associated with running a business.

Also alluring to a growing number of entrepreneurs is the flexibility that comes with shared office space. As businesses grow and needs continue to change, coworking spaces are best equipped to respond and accommodate. Additionally, not being required to sign a long-term traditional office lease can be a large weight off the shoulders of growing small businesses as it allows them to pivot more readily.

By catering to its clientele’s changing needs with an innovative and evolving service offering, Office Evolution is poised to take off in 2019 and beyond. The brand’s professional, on-demand office spaces that are available on a 24/7 basis let members choose from several packages including hourly, daily, month-to-month and long-term rentals. These packages also include mailing and telephone answering services.

The company perfected its model by building and successfully operating seven business centers across the Colorado Front Range before turning to franchising in 2012. Office Evolution carved out its niche by focusing on developing in suburban areas and catering to a clientele of entrepreneurs and small businesses, unlike the competition.

While other coworking spaces like WeWork and Regus target downtown areas in large cities, Office Evolution’s focus is on building communities in smaller cities like Cary, North Carolina and Boise, Idaho.

“We’ve watched the small business population in Cary grow tremendously over the past few years, and providing a space for local entrepreneurs to collaborate and inspire one another to achieve their dreams has been of great value to us,” said Tara Abernathy, who recently opened her second Office Evolution location in the Raleigh, North Carolina suburb.

In Boise, Office Evolution franchisees Anabel and David Lopez have witnessed similar growth in their area that has made their business center an even more viable option as the city transforms.

“Boise’s tech scene is growing very quickly, and we wanted to find a business that could fill a gap in the marketplace. Office Evolution fit the bill perfectly,” said Anabel. “Since opening our location, we’ve been able to create a collaborative workspace to help local entrepreneurs grow their businesses.”

“We are excited to provide a place where people want to work that also creates a sense of community for small business owners,” David added.

As the coworking industry continues to evolve, Office Evolution seeks to remain a community-centric small business, serving other local small businesses. Focusing on the immediate communities in which it operates allows its franchisees to respond and grow with their area’s needs, providing precision service that can’t be found elsewhere in the shared office space segment.

“In 2018, we watched our competitors spend profusely to market themselves as the ultimate community, but Office Evolution is light years ahead in connecting business owners with other business owners through intimate, local networks,” CEO and founder Mark Hemmeter said. “Through our franchise opportunity, we not only give small business owners the chance to utilize our continuously evolving services as members, but we also give them the chance to get into the business of the rapidly growing coworking industry through our unique model. We’re prepared and excited to continue innovating in response to the industry’s growth well into the future.”