Venture X, part of the industry titan the United Franchise Group (UFG), has started off 2019 with an aggressive plan to continue expansion to meet the growing demand for its membership-based community workspace. As part of this plan, the company has just announced the appointment of Jason Anderson as brand president, with Tom Weber moving to Executive VP of Operations, a role that is sure to tap into his real estate and finance background.
Anderson has had many leadership positions within UFG and has also served as its CTO and Director of Franchise Development.
UFG CEO Ray Titus said the growth of the shared workspace brand has been impressive and that the group is committed to supporting its expansion.
This brand currently has a strong presence in Texas, developing co-working office spaces in Plano, Brownsville, Dallas, Harlingen, Richardson and Las Colinas Village. Its busy San Antonio franchise business is undergoing expansion to meet the demand in the area. Two new locations were opening in Palm Beach Gardens and West Palm Beach in Florida, and a new facility opened its doors in Denver, Colorado. Its first franchised facility in Canada has already reached capacity, and there are now plans to build another one near it.
Anderson says the brand is different from other shared workspace concepts on the market. Its premium upscale environment provides an image of success professionals can then project to clients, and active members can use any open locations.
Over the opening quarter of 2019, eight new locations are slated to open in six states: one in Texas, two in Florida, one in Utah, one in Virginia, one in Massachusetts and one in Indiana. There are also plans for three new facilities in Texas and some in Michigan and California. International development is also on the menu, with deals in process for Singapore, London, Brazil, Mexico, South Africa, Dubai, Panama and other countries in the Middle East. The brand's goal is to have 100 locations open by 2019's end, and there are franchise opportunities available in many markets to help support this goal.
A shared community and workspace concept that blends modern offices with boutique hotels, Venture X continues to shake up the shared workspace sector. The initial investment for one of its franchise opportunities ranges from $900,000 to $2.3 million.