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 studio 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 recommend doing extensive research on each company, its management, and its coworking vision before considering which option works best for you.
The Pros and Cons of 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 to how creative you can be with your space, aesthetic, and concept
- Coworking franchise fees and management service fees could impact your bottom line
DropDesk: The Coworking Franchise Alternative
You may be wondering, “Are there alternatives to coworking franchises?” Fortunately, yes! If you are looking for a way to 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. If you have a new coworking office concept or are currently operating a shared workspace and looking to expand, we can help you scale.
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.
Market Your Coworking Studio with DropDesk
Harnessing the power of effective marketing is crucial in growing your coworking studio. With DropDesk, you gain access to tailored marketing strategies that fit your specific needs, ensuring that your brand reaches the right audience. This can greatly enhance visibility and attract a diverse clientele that values flexible work spaces.
Deciding between a coworking franchise and a flexible model like DropDesk hinges on your long-term goals and the level of creative freedom you desire. Each path offers unique benefits and challenges, so carefully weighing these against your vision for a coworking studio will guide you to the best choice for your business.
