The Coven offers co-working spaces designed for women, providing a supportive environment for professional and personal growth with community events and resources.
KEY FRANCHISE STATS
Franchisees
?
2
+
n.a.
n.a.
Franchise fee
?
$50,000
Investment
?
$213,000 - $465,000
Revenue (AUV)
?
Undisclosed
$372,000
+
n.a.
n.a.
Upgrade
Founded in 2017 in Minneapolis, Minnesota, The Coven is a coworking franchise committed to building inclusive and community-focused workspaces. It was created by four women—Alex West Steinman, Erinn Farrell, Bethany Iverson, and Liz Giel—who sought to create safe, welcoming environments for professionals of all backgrounds.
The company is currently headquartered in St. Paul, Minnesota. It began franchising its unique model in 2022.
The Coven offers a full suite of services, including coworking desks, private offices, meeting and event spaces, virtual mail services, and access to a thriving digital community.
Its mission is to empower women, non-binary, and trans individuals by providing workspaces that center equity and inclusion. Unlike traditional coworking spaces, The Coven puts community and social impact at the core of its operations.
Initial investment
The initial investment required for a The Coven franchise is
$213,000 - $465,000.
That is the total cost you would need to finance if you were to start this franchise.
These costs are provided by the franchisor in the Franchise Disclosure Document.
Type of Expenditure
Amount
Initial Franchise Fee
$50,000
Site Selection Assistance
$0 to $2,000
Rent (3 months)
$45,000 to $84,000
Lease, Utility and Security Deposits
$2,000 to $10,000
Design and Architectural Fees
$5,000 to $35,000
Design Services
$15,000 to $25,000
Leasehold Improvements
$50,000 to $100,000
Equipment
$2,500 to $5,000
Fixtures & Furniture
$15,000 to $100,000
Inventory
$1,000 to $5,000
The Coven Digital Community, Booking Software, and Designated Software (Including 3 months of fees)
$4,400 to $9,200
Signage
$2,500 to $5,000
Training Expenses
$2,000 to $8,000
Community Grand Opening Marketing Campaign
$10,000
Licenses, Permits and Professional Fees
$3,000 to $5,000
Insurance
$1,000 to $2,000
Additional Funds - 3 months
$5,000 to $10,000
TOTAL
$213,400 to $465,200
Create a free account to access this table and more. For more information see our plans here.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Type of Expenditure
Amount
Initial Franchise Fee
$50,000
Site Selection Assistance
$0 to $2,000
Rent (3 months)
$45,000 to $84,000
Lease, Utility and Security Deposits
$2,000 to $10,000
Design and Architectural Fees
$5,000 to $35,000
Design Services
$15,000 to $25,000
Leasehold Improvements
$50,000 to $100,000
Equipment
$2,500 to $5,000
Fixtures & Furniture
$15,000 to $100,000
Inventory
$1,000 to $5,000
The Coven Digital Community, Booking Software, and Designated Software (Including 3 months of fees)
$4,400 to $9,200
Signage
$2,500 to $5,000
Training Expenses
$2,000 to $8,000
Community Grand Opening Marketing Campaign
$10,000
Licenses, Permits and Professional Fees
$3,000 to $5,000
Insurance
$1,000 to $2,000
Additional Funds - 3 months
$5,000 to $10,000
TOTAL
$213,400 to $465,200
Franchise Disclosure Document
Below is The Coven's 2024 Franchise Disclosure Document. Upgrade to Pro or purchase the FDD to view and download the document.
Number of units
The Coven had 4 total units in 2024, of which 2 were franchised-owned and 2 company-owned.
The Coven provides comprehensive training programs to support franchisees in operating their Communities effectively. Here’s a breakdown of the training provided by the Franchisor:
Initial Training Program Franchisees are required to complete an initial training program before opening their Community. This includes approximately 58 hours of classroom instruction and 8 hours of on-the-job training. Topics covered include brand introduction, legal and financial guidance, real estate, personnel, marketing, inclusive design, sales planning and tools, event planning for lead generation, programming, digital community tools, operations, member management, and hospitality.
Training Format and Materials The training is delivered virtually or at a designated location and consists of lectures, discussions, hands-on demonstrations, and a shadow day at an existing Community. Materials include an Operations Manual, visual aids, and handouts.
Personnel Participation Requirements The designated owner and General Manager (which may be the same person) must attend the initial training program. While there is no fee for their attendance, franchisees are responsible for travel and living expenses.
Territory Protection
The Coven provides territory protection to its franchisees under a “Protected Territory” model. Each franchisee operates their Community from a designated location and is granted exclusive rights within a territory that generally includes a population of 100,000 to 300,000 people.
This exclusivity means that The Coven will not authorize another franchise or operate a competing Community within that defined area. While the Protected Territory is exclusive, its exact boundaries and population base are determined by The Coven based on various factors.
The franchise agreement outlines that no other The Coven Community, whether franchised or company-owned, will be permitted within this territory. However, the franchisor retains the right to operate and market outside the protected boundaries, allowing for broader brand activity beyond the local exclusivity.
.png)
