Office Evolution Sole Coworking Franchisor Ranked in Entrepreneur Franchise 500 2020 List
February 10, 2020 // Franchising.com // Louisville, Colo. - Office Evolution, the nation’s largest coworking franchisor, has been recognized in Entrepreneur magazine’s annual Franchise 500® ranking. The brand was also listed in the prestigious rankings in 2017, 2018, and 2019.
The Louisville, Colorado-based company was listed at No. 267, joining a host of other Colorado based franchisors in the standings. The ranking was published in the January 2020 issue and can be found online at www.entrepreneur.com/franchise500/2020.
"We're ecstatic to have been recognized by Entrepreneur's Franchise 500 list. This ranking helps show the scalability and success of our industry leading franchise system," said Mark Hemmeter, founder and CEO of Office Evolution. "Not only does it further establish us as an industry leader, it speaks to the dedication and hard work our franchisees put in to make their locations successful and help bolster small business communities across the country.”
Recognized by entrepreneurs and franchisors as a top competitive tool of measurement, the Franchise 500 acknowledged Office Evolution for its outstanding performance in categories including growth rate, system size, and brand stability.
Since its founding in 2003, Office Evolution has established itself as the largest coworking franchisor in the nation, with 65 locations open and operating in 24 states, and nearly 80 in various stages of development. In 2019, the brand opened 11 new locations in eight states and signed 13 development deals for 22 locations. Office Evolution prides itself on its business model of catering to suburban workers in secondary markets and credits this approach with helping the brand scale quickly and successfully.
“We are very proud of our achievements over the past year,” said William Edmundson, COO and Global Workspace Association board member. “Our development last year and our ranking in the Franchise 500 goes to show that we are continuing to build on our past success, and we cannot wait to see what the future holds for Office Evolution.”
Company projections call for the opening of 25 locations in 2020 with an additional 20-25 franchise agreements being signed.
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 7,000 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, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia. For more information, please visit https://www.officeevolution.com/
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