Office Evolution Ends 2019 by Closing Three Deals in December
Coworking franchisor continued its rapid growth across the country, looks to carry momentum into the New Year
January 22, 2020 // Franchising.com // LOUISVILLE, Colo. - Office Evolution, the largest coworking franchisor in the United States rounded out another successful year by signing three separate development agreements for five total locations. The flurry of deal signings in December sums up an exciting year for the coworking brand, filled with growth, development, and company milestones. While the future of other coworking businesses looked uncertain, Office Evolution showed once again why it is one of the strongest concepts in the industry.
Here are some of Office Evolution’s 2019 milestones:
- Office Evolution opened 11 new locations this year in eight states.
- The brand signed 13 development deals totaling 22 locations in 2019, all of which are expected to open over the next several years.
- Office Evolution was ranked #160 overall and #1 in the coworking spaces category of Entrepreneur magazine’s 2019 Franchise 500®, the world’s first, best and most comprehensive franchise ranking.
- Today, Office Evolution has 65 locations currently open and operating in 24 states across the country.
“In 2019 we saw exceptional growth in current areas of operation while also expanding our brand to new markets and places where we could provide the local small business community a place where they can be successful and grow their businesses,” said Office Evolution founder and CEO Mark Hemmeter. “We started 2019 with the goal of opening more locations to service more independent employers and small business owners and we surpassed that goal. We also added plenty of dedicated franchise partners who believe in our mission and are passionate about helping small business owners succeed. We can’t wait for 2020 as we continue to grow the Office Evolution brand.”
Office Evolution is carrying its momentum from 2019 into the New Year by opening its Tampa location within a few weeks of the start of 2020. This will be the first of 25 locations that the brand hopes to open in 2020. Office Evolution plans to add an additional 20-25 franchise agreements in cities across the country. Because of the brand’s unique business model, Office Evolution COO William Edmundson believes that it is suitable to enter just about any market in the United States.
“Because Office Evolution’s model excels in suburban and mid-sized markets, we are a great fit in all 50 states,” Edmundson said. “Currently we are working with prospective franchisees in every region of the country. Demand for our brand continues to grow with current members enjoying the combination of the local ownership of the Office Evolution they belong to as well as the growing national network of locations that they can use.”
Office Evolution was founded on the principle of serving independent employers and small business owners. The concept’s unique business model thrives in secondary markets, providing suburban workers with a more cost-effective option for workspace rather than getting tied up in an expensive lease. The brand also offers meeting rooms, virtual workspaces, phone answering and mail delivery services.
To augment the company’s growth, Office Evolution is seeking qualified franchise partners who are passionate about helping grow their local small business community. Including a franchise fee of $39,500, the total investment to open an Office Evolution location starts at $288,000. The average location occupies between 6,000 and 11,000 square feet which fits 23-40 private offices, 2-3 conference rooms and shared space for approximately 10-20 people.
About Office Evolution
Founded in 2003 and franchising since 2012, the Colorado-based company is the largest coworking franchisor in the U.S. With 65 locations open and nearly 80 in various stages of development, Office Evolution is leading the workplace revolution that is projected to see nearly 30 percent of all office space become shared office space by 2030, according to a JLL report. Office Evolution is currently operating in 24 states, including Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia. For more information, please visit https://www.officeevolution.com/
Franchise Elevator PR
SOURCE Office Evolution
Add to Request List
Comments:comments powered by Disqus
- Expansions & Growth
- Financial & Earnings Claims
- Mergers & Acquisitions
- Personnel Changes
- General Announcements
- Conferences & Events
- Product Announcements
- Media Coverage
- Strategic Alliances