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Business & Professional Services
This international flexible workspace provider was established in 1989 by entrepreneur Mark Dixon, who is the company’s current CEO.
Today it has around 3,000 centres in 120 countries (approximately 250 in the UK) that allow individuals, small businesses and large companies to work where, when and how they want in a more agile way. It has an estimated 2.5 million customers worldwide.
As well as a range of high quality, contemporary workspaces, the company’s customers also have access to a support team that’s on site during traditional office hours, high-speed broadband and facilities such as meeting rooms and kitchen and lounge areas.
Regus also has a virtual office offering, which gives clients who may work from home or on the move a business address, telephone answering service, a mail handling function and use of its business lounges.
In 2018, Regus became the first serviced office specialist to enter the UK franchise market when it signed an agreement with its first franchise partner to open 10 centres in four years.
Regus is part of IWG plc, the holding group for a number of workspace providers, including Spaces, HQ, No18, Signature by Regus, the Clubhouse and Basepoint.
IWG was created in 2016, employs 10,000 staff and has headquarters in Switzerland. Group revenue for 2019 was £2.6 billion. Regus’ registered offices are in St Helier, Jersey.
How does the Regus franchise model work?
This is a multi-unit franchise opportunity, where franchisees must commit to opening a minimum of five centres inside three years within standalone or multi-let sites.
Regus describes its franchise as a ‘proven operating model’ that gives franchisees the right to use its brand and trademarks and benefit from its business know-how, an established customer base and sales, marketing, customer relationship management, invoicing, booking and training systems.
Full support is provided throughout the duration of the franchise agreement.
How much does it cost to become a Regus franchisee?
This depends on the number of centres you wish to open and in which locations.
What training and support do Regus franchisees receive?
Full initial and ongoing training is provided, which covers every aspect of launching, establishing and growing a flexible workspace enterprise. Induction training lasts for three weeks. Further training is also available via Regus’ online academy.
Support is tailored to each franchisee’s needs and comprises operational assistance; help with site selection; access to Regus’ space planning team; head office billing, invoicing and cash collection; marketing materials to promote your business locally; PR activity; and assistance with recruiting and training your team.
In addition, regular reviews take place between the Regus support team and franchisees to ensure the business is progressing in line with growth plans.
What skills and experience do I need to become a Regus franchisee?
According to Regus, it is crucial that franchisees are able to follow its tried and tested franchise model in order to uphold the high standards that are expected of the brand by its millions of customers.
Candidates must also have the money to fund a substantial, multi-site business and possess excellent management and organisational skills. Having a background in sales and/or customer service is beneficial.
Can you tell me more about the size and potential of the market in which Regus operates?
The statistics for potential growth in the £20 billion flexible workspace sector are impressive, although investors may need to take into account the affect the coronavirus pandemic has had on the number of people working from home, rather than serviced office space provided by the likes of Regus.
Whether this trend continues once the disease has been brought under control and a vaccination has been found remains to be seen. If it does, this could reduce the demand for office space in central locations and cities around the world.
Nevertheless, Regus says that the demand for flexible workspace is currently outstripping supply (in 2018 it received one million enquiries about its services) and by 2022 the global mobile workforce - many of whom are potential Regus customers - could total 1.87 billion people, according to market research specialist Strategy Analytics.
Other research that highlights the growth potential in this market includes:
• Real estate service provider JLL’s 2018 flexible space report predicted that flexible workspaces will account for 30 per cent of the total real estate footprint of a large company by 2025.
• American multinational investment bank JP Morgan has stated that the growth in the number of open office workspaces will approach an exponential scale in line with wider technological trends.
• Over 50 per cent of employees work remotely at least two days a week, according to a recent IWG global workspace report.
• A Regus commissioned survey of 18,000 business leaders in 96 countries, conducted in 2018, revealed that 89 per cent of respondents believed flexible working helps their business grow, 87 per cent said flexible working helps their business remain competitive, 83 per cent stated flexible working helps their company to maximise profits and 86 per cent said providing flexible working opportunities enables them to recruit and retain the best employees.
A lot of data collected on this sector suggests long term growth is probable. Combine this with the fact that buying a franchise gives you a greater chance of success than going it alone and the Regus franchise could represent a sound business proposition for investors with the necessary skills, experience and financial wherewithal.
How can I get started on setting up my own Regus business?
Complete the enquiry form and a member of the Regus franchise team will contact you. They will ask you some questions about yourself, the city or region you are considering opening a Regus franchise in and how much money you are looking to invest in the opportunity.
Regus organises regular discovery day events around the UK, where prospective franchisees can meet key members of its team, learn more about the business model and find out about the potential financial returns.
It takes approximately four months to open a centre from the time the franchise agreement is signed.
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