Venture X (US) Signs Franchise Agreements for the United Kingdom and Ireland
04 Jun 2019 - Venture X®, a global shared workspace franchise, announced today the company has signed a Master License Partnership to bring the brand to the United Kingdom and Ireland. This announcement comes on the heels of Venture X's successful expansion in the United States, as well as Canada, Australia and 22 additional countries. This expansion will be led by partners Andrew Ross and Tom Foster.
"We are extremely excited to be working with Andrew and Tom to bring Venture X to the UK and Ireland," said Venture X President, Jason Anderson. "As we seek new international markets for expansion, these markets were a perfect choice, as they are already familiar with the benefits of flexible workspaces, and eager for more options. We know Andrew and Tom's experience will ensure the success of their development, and we're excited to announce the specific details of these locations soon."
Foster and Ross have over 25 years real estate and hospitality experience between them. Together they have built successful hotel, commercial development, student housing and healthcare real estate platforms and are now focused on bringing Venture X to the major business hubs of the UK and Ireland, continuing the impressive trajectory of the brand's growth globally.
"As Andrew and I began to explore various business opportunities, we were continually being drawn in by flexible workspaces and the value they bring to the modern professional," said Foster. "We chose Venture X because of the inspiring environment and premium amenities it provides for clients and feel confident the UK and Ireland will respond well to Venture X's style," added Ross.
Venture X's membership-based model has seen rapid growth since its start in 2012, moving even faster in recent years through the power of franchising. With more than 80 signed locations in 25 countries, and a goal to open 21 locations by the end of Q2 2019 alone, Venture X is primed to continue rapid expansion in both the United States and abroad. Backed by the powerhouse United Franchise Group, a group of affiliated, award winning franchise companies and brands, Venture X has the support needed to grow exponentially in the coming years.
Many Venture X franchisees have backgrounds in real estate, finance, hotels or have experience as landlords. Currently the franchisor is seeking single-unit operators, with multi-unit development offered in the future. The brand's initial franchise fee is $79,500 with a total investment cost ranging from $1.1M-$3.4M.
About Venture X
Venture X is a membership-based, shared workspace and community that is a blend of boutique hotel and modern office styles with a high level of design that feels professional and welcoming. We are designing beautiful spaces and developing an environment and community that people love coming to work to every day. Venture X is a member of United Franchise Group, a group of affiliated companies and brands, and has been recognized by Inc. as one of the best co-working spaces in the United States. The brand anticipates having 100 locations sold by the end of 2019.
Led by Founder and CEO Ray Titus, United Franchise Group is home to a variety of brands including Signarama, Fully Promoted, Experimax, Jon Smith Subs, SuperGreen Solutions, Transworld Business Advisors, Accurate Franchising, Venture X, and the Great Greek Mediterranean Grill. With over three decades in the franchising industry and more than 1,600 franchisees throughout the world, United Franchise Group offers unprecedented leadership and solid business opportunities for entrepreneurs.
This advertisement is not an offer to sell a franchise. Any offer to sell this franchise will be made by a Franchise Disclosure Document and only the following registration by Venture X Franchising, LLC in any state requiring registration prior to sale.
In New York: This advertisement is not an offering. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Such filing does not constitute approval by the Department of Law.