3 Things to Consider When Starting Your Own Coworking Space Franchise

Today, not everyone comes to an office to finish their usual 9-5. In 2017, about 57.3 million Americans are doing freelance work instead of coming into an office to get their work done. Most of them are working in either their own homes or in a coworking space and environment.

Coworking spaces are all the rave these days, as freelancers get to collaborate and work together in a usually creative space. This is the reason more entrepreneurs are looking for an office space franchise opportunity — to give freelancers a chance to collaborate and make money for their own businesses.

Continue reading on, as we will discuss some tips on how to start your own coworking space franchise.

Research the Industry

Do your research and see if franchising a coworking space is for you. Interview your fellow franchisees and ask how their experience has been and what prompted them to start a coworking space franchising business.

You can also ask your franchisor about the industry and how strong the statistics are. Make sure that their business is thriving and if it is worth taking the shot. Research on how many freelancers are in your area and if building a coworking space in that specific location would be practical.

Consider Your Target Market

You will be catering to freelancers and entrepreneurs, which means that your clients have different needs when it comes to the nature of their work. Some of your clients might be writers, while some of them might be designers or web developers.

Make a survey and ask about your market’s industries, location, age, and culture. Consider all of those things when building your coworking space franchise, so you can attract different types of people to help your business grow.

The Layout

Freelancers and entrepreneurs are often the hip and young people. They’re most likely looking for a creative space where they can work to boost their own creativity and give them inspiration. Do your research and look for ways to amp up your coworking space’s design and layout. You can also take inspiration from your franchisor and franchisees to see what your target market wants in a coworking space.

Never be afraid to ask around and do your research when it comes to franchising your own coworking space. Good luck!