Start a Venture X Franchise in 2024

2024 Franchise 500 Rank: #463 Ranked #361 last year

Initial investment: $341K - $3.3M

Units as of 2024: 61 35.6% over 3 years

Venture X was founded in 2012 in Naples, Florida as a business to provide flexible co-working and meeting spaces.

Venture X has been franchising since 2016 and now covers more than 30 locations in the United States, as well as several in both Canada and overseas. There are available markets in North America, Central and South America, Europe, Asia Pacific, and the Middle East. An ideal candidate for a Venture X franchisee may be a commercial property investor or a hotel owner.

Why You May Want to Start a Venture X Franchise

As a Venture X franchisee, you will be responsible for building a community for your workspace. Venture X may stand out from the competition because it offers a high-end work environment to clients who want to get a job done, but may not own offices with state-of-the-art facilities and technology. This may include freelancers or independent business people. The business technology used in the facilities is advanced and may create an excellent experience for clients, making it a popular choice.

Venture X provides franchisees with all the expertise that they need to succeed. By opening a Venture X location in your community, you can provide a co-working space to improve collaboration and communication for businesses and individuals. You will also provide opportunities for networking and mentorship. Franchisees may also receive in-house training at Venture X headquarters in West Palm Beach, Florida and on-site training at a currently operational franchise location.

What Might Make a Venture X Franchise a Good Choice?

To be part of the Venture X team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees.

Venture X may be a rewarding opportunity because the demand for co-working spaces is on the rise. The franchisor will assist in creating a state-of-the-art facility and in narrowing down your target market. You may see different income streams, such as community membership fees, mailbox rental fees, event space rentals, conference room rentals, and charges for additional services and technology solutions.

How Do You Open a Venture X Franchise?

As you decide if opening a Venture X franchise is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Venture X franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Venture X franchising team questions. Additionally, consulting with a financial planner and an attorney may help you prepare your business plan. Be prepared to meet with company executives to ensure that your goals align with the company culture.

Company Overview

About Venture X

Industry	Business Services
Related Categories	Coworking Spaces, Miscellaneous Business Services, Miscellaneous Services
Founded	2012
Parent Company	Venture X Franchising LLC
Leadership	Jason Anderson, Brand President
Corporate Address	2121 Vista Pkwy. West Palm Beach, FL 33411
Social	Facebook, Twitter, LinkedIn, Instagram, YouTube, Pinterest

Business Overview

Franchising Since	2016 (8 years)
# of employees at HQ	240
Where seeking	This company is offering new franchises throughout the US. This company is offering new franchises worldwide.
# of Units	61 (as of 2024)

Information for Franchisees

Here's what you need to know if you're interested in opening a Venture X franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$79,500
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$340,750 - $3,273,400
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$100,000 - $350,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	6%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	35 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	Venture X has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	8 hours
Classroom Training	30.5 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	Yes
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	2
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes