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Does WeWork Offer Franchises?

The much-talked-about coworking concept did not grow through franchising, but the brand does have some strong competitors in the franchise industry.

By Justin Wick1851 Franchise Contributor
Updated 1:13PM 07/26/21

WeWork, an organization that “reimagine[s] your workspace” by providing rental workspaces to members at hundreds of locations, is one of the fastest-growing new concepts of the past decade, but it is not a franchise.

Each WeWork location is owned by a single corporate entity. In some ways, the brand’s concept, which features access to consistently equipped working spaces in locations around the world, is perfect for a franchise model, but WeWork’s eccentric founder and former CEO Adam Neumann chose instead to grow the brand through investment capital, a strategy that all but collapsed after a failed initial public offering shot down a once-hefty valuation. In “one of corporate America’s most spectacular meltdowns”, WeWork lost nearly $40 billion in company value.

Fortunately, the franchise world is not suffering from a lack of coworking concepts. Brands like Regus and Office Evolution have helped pioneer the segment, and their models, which allow franchisees to take direct ownership over their locations, could prove more viable than WeWork’s.

Better yet for these coworking concepts, the industry outlook looks bright, with remote work at an all-time high. A newly invigorated market for coworking could open prime opportunities for franchising development.

See 1851's favorite office/coworking franchise opportunities.