So either you own a coworking space and are looking for ways you can expand your concept into a multi-location brand or you want to start a coworking space with a proven coworking model. In this article, we will cover popular coworking franchises, break down the pros and cons of working with a coworking franchise and explore an alternative partnership model, allowing you to make an informed decision on how to proceed.
Coworking Franchise Options
Below I have listed some of the better-known coworking franchises. I would recommend doing extensive research on each company, its management, and coworking vision prior to considering which option works best for you.
The Pros and Cons Working With A Coworking Franchise
Pros:
- Proven business model.
- Experienced management.
- Brand recognition, media assets, and digital marketing.
- Franchise support, training, and operations.
- Hassle-free way to get started without learning everything by yourself.
Cons:
- You cannot have your own coworking brand.
- Franchise license upfront costs of $70,000+.
- Monthly fees for technology, support, and inspections.
- National Ad Marketing Fees
- 6-10% gross revenue share
- You MUST follow brand guidelines, even ones you may disagree with.
- There is a limit on how creative you can be with your space, aesthetic and concept.
- Coworking franchise fee and management service fees could impact your bottom line.
DropDesk: The Coworking Franchise Alternative
If you are looking for a way you can get all of the benefits of a coworking franchise, but with the flexibility of being able to choose between running your own brand or leveraging a brand name, you should consider working with DropDesk. DropDesk offers a partnership model allowing independent coworking brands access to our technology, support, marketing, and know-how.
The Pros and Cons Of Working With DropDesk
Pros:
- Choose between starting your own coworking brand powered by DropDesk or leveraging the DropDesk name.
- Scale your business with an experienced team that will be with you at each step.
- Coworking model creation, floorplan, and architectural designs.
- Support, training, and operation templates.
- Coworking Property Management.
- Access to our proprietary coworking management software.
- Use of our coworking automation, digital marketing tools and marketing team.
- Hassle-free way to get started without learning everything by yourself.
Cons:
- Coworking management service fees could impact your bottom line.
