IWG offers new franchise opportunity in the fast-growing flexible workspace industry, offering franchise operators, investors and building owners an opportunity to strengthen their business portfolio
In February 2021, IWG has announced its first US franchising deal to open Regus locations in the Detroit metro area of Michigan – pioneering franchise opportunities in the flexible workspace industry as demand grows and we move to a post-COVID new normal.
The first center of the seven-center deal is planned to open at the end of the first quarter in 2021. The franchise is offered by Regusand provides flexible/virtual office workspace, co-working facilities, meeting and training facilities and commercial office alternatives.
“We are excited about our first deal in the US and see franchising as a vehicle for growth, as more turn to flexible working options,” said Wayne Berger, Chief Executive Officer, North America and Latin America, IWG. “We’re seeing that the demand for workspace flexibility is becoming increasingly urgent, driven by employees and employers – particularly in suburban markets. Traditional franchises such as fast food restaurants, gyms, and hotels have reached saturation in many markets. Our franchise offering provides an opportunity for professionals to diversify their portfolio and invest in a market that is projected to grow significantly.”
The demand for workplace flexibility is becoming increasingly urgent as the world eyes a return to normal. Now more than ever employers are looking to enable work-life integration, empower people to work independently or collaboratively in a safe environment, wherever they might be. PwC polled office workers and found that over half of employees (55%) would prefer to be remote at least three days a week once pandemic concerns recede.
“We’ve had such a positive experience working with Regus and to build this partnership has been essential as we look to further develop our property investment portfolio. We are excited to chart the path forward as the first franchising deal in the US,” said John Schmidt, Chief Executive Officer of Megatron Inc./Megatron Equity Partners LLC./Megatron Workspaces Inc.
This expansion in the US follows IWG launching its franchise opportunity globally in 2019. Partnering with franchise entrepreneurs is central to its strategy to grow tenfold over the next decade to meet demand for flexible, local office spaces.
In addition to this deal, IWG recently also partnered with Standard Charter who is looking to provide all 95,000 employees worldwide with the option of working in an IWG flexible workspace close to their home or any 3,500 locations globally.
Regus now offers franchisees an opportunity to support and develop their property investment portfolio – offering a choice of office styles and products. The locations opened are typically no smaller than 10,000 square feet either in stand-alone or multi-let buildings with over 130 workstations. With only one or two people needed for oversight, day-to-day business management is easier, while still providing 24/7 client support.
Ideal IWG franchise partners have the ability to operate and grow within a branded framework and open multiple centers across the contracted territory over a two-to-five-year period. The opportunity suits a range of businesses, from seasoned franchise professionals and entrepreneurs to building-owners and investor partners.
Are you ready to meet the demand for flexible office space? Find out more about IWG’s franchising partnerships today