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About Venture X
What is Venture X and what services does it provide?
Venture X provides flexible, modern and inspiring shared and private office space and meeting rooms to its members. Its co-working buildings are decorated by local artists and feature the latest technology.
The business was founded in 2012 in the US by entrepreneur David Diamond and his son Brett. In 2018, Venture X was acquired by United Franchise Group, which also owns Transworld Business Advisors and Signarama.
Where can you find a franchise territory to start a business with Venture X?
The brand is looking to expand across select markets in the UK. For information about potential franchise territories with Venture X, contact the company via email.
Where are the headquarters for the Venture X franchise located?
Venture X does not have a UK head office at present, but its UK representative branch can be contacted via email. The company’s global head office is in Florida.
How much does it cost to start a Venture X franchise?
The Venture X franchise fee is approximately £65,000, with an additional investment required for property, premises, equipment and other related costs. The total investment for this franchise can vary depending on the location and size of the business, but is estimated to be in the region of between £1-£1.25 million.
In addition to initial set up costs, franchisees will also be required to pay a royalty fee of six per cent of gross revenue.
What kind of financial support can you get to start a Venture X franchise?
It may be possible to borrow money to invest in a Venture X franchise from the franchise departments of most major banks or through specialist lenders dedicated to franchise businesses.
As well as the investment necessary to get the franchise up and running, Venture X advises that franchisees require working capital of around £300,000. The company also states that potential candidates must be able to demonstrate a current net worth of at least £800,000.
What sort of experience or background do you need to become a Venture X franchisee?
While you do not need to have prior experience in running a co-working business to start a franchise with Venture X, it is recommended you have a background in business and a demonstrable track record of success. The brand recommends that interested candidates should be able to demonstrate a significant net worth, and be able to invest in developing the business.
You should have good business acumen and excellent management and leadership skills.
What kind of training and support will you receive as a Venture X franchisee?
Venture X provides a complete turnkey package to all franchise owners, with a well developed system of operation.
As Venture X is part of United Franchise Group, its backing allows the brand to provide excellent initial and ongoing training and support to all franchisees. This includes two weeks of in house training at company headquarters in Florida, where you’ll be schooled in key areas such as management, recruitment and signing up new clients, as well as marketing and advertising.
Folllowing initial training, a representative is allocated to each franchisee to help develop the business, with on-site training provided for up to five weeks.
After the launch of a new franchise, Venture X continues to support you with innovative marketing assistance, which includes localised marketing strategies, PR campaigns, event planning and other help from its in-house marketing team. The company also utilises a cooperative advertising fund, which is used to drive further traffic to new franchise locations.
Training and support continues after the business has been launched. Franchisees are given access to an online learning portal, where they can find extensive tools and support materials to continue learning, as well as resources and research into developments and trends in the industry to help them stay ahead of the competition.
What do existing Venture X franchisees say about the business?
Many of the company’s franchise owners have found the chance to own a Venture X business to be a positive one and have enjoyed the opportunity to thrive in an emerging industry. Franchisees have especially appreciated the investment provided into creating a robust training and support package, making the business easy to run.
What are the market opportunities for a Venture X franchise?
The co-working industry has grown extensively in the UK over recent years, particularly in larger cities such as London.
The UK has seen a proliferation of member numbers for co-working spaces, with a particular emphasis on boutique and niche spaces aimed at certain audiences or markets. One of the biggest markets for co-working spaces in the UK are small businesses with 1-10 staff and with a growth in new start ups, freelance businesses and entrepreneurs, there is great potential for anyone considering starting a franchise in this sector in the country.
How to get started
To find out more about starting a Venture X franchise in the UK, contact the company online or by email to request information about its international opportunities.
Request Free Information
Send a free enquiry to Venture X for further information!