Venture X Franchise FDD, Costs & Fees (2024)

KEY FRANCHISE STATS

All you need to know about this franchise in a snapshot

Initial franchise fee
$79,500
Investment required
$341,000 - $3,273,000
Royalty fee
6.00%

Venture X: Revolutionizing the Coworking Landscape

Established in 2012 in Naples, Florida, Venture X has rapidly emerged as a premier provider of flexible, high-end coworking spaces. In 2016, the company began franchising, and by December 2018, it became a proud member of the United Franchise Group (UFG) family, a global leader for entrepreneurs.

Venture X offers a diverse range of workspace solutions, including shared desks, dedicated desks, private offices, conference rooms, and event spaces. This versatility caters to freelancers, startups, and remote corporate teams seeking a professional environment equipped with state-of-the-art technology.

What sets Venture X apart is its commitment to creating upscale, collaborative environments that blend the aesthetics of a modern office with the comfort of a five-star hotel. This unique approach appeals to professionals across various industries and generations, fostering organic networking and collaboration.

Initial investment

Here's what you would need to invest 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 $79,500
DSS Fee $9,750 – $19,500
Professional Fees and Other Legal Fees $15,000 – $60,000
Leasehold Improvements $0 – $850,000
Architectural Services $0 – $150,000
Designated Furniture, Fixture & Equipment (FF&E) $50,000 – $750,000
Initial Marketing Launch $45,000 – $90,000
Low Voltage Data Cabling/Access Control and Sound Masking $0 – $156,000
Multi-Function Secure Printing $4,000 – $10,000
Real Estate (rental payments will vary by location) $19,500 – $113,000
Office Supplies and Kitchen Supplies $500 – $5,000
Appliances $10,000 – $15,400
Pre-Opening Staff, Salaries, Travel, Accommodations, Transportation and Meals During Training $5,000 – $30,000
Insurance Deposits and Premiums $2,000 – $20,000
Site Lease Deposit $0 – $600,000
Transportation and Meals while at training school $500 – $5,000
Additional Funds (0-6 mos.) $100,000 – $350,000
Total Estimated Investment $341,000 – $3,273,000

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Number of units

2024
Franchised units

44

49

56

Company-owned units

0

0

0

Total units

44

49

56

Franchise Disclosure Document

Training

The training provided by the Franchisor for Venture X is comprehensive and designed to ensure franchisees are well-equipped to operate the business successfully. The following types of training programs are included:

  1. Initial Training Program
    The franchise offers an in-depth initial training program that covers essential aspects of operating a Venture X location. This includes training on the business model, daily operations, customer service, and managing co-working spaces effectively.
  2. On-Site Training
    Once the franchise is ready to open, on-site training is provided at the franchisee’s location. This focuses on real-world application, such as setting up the facility, managing staff, and ensuring the operational systems are functioning as intended.
  3. Ongoing Training and Support
    The Franchisor provides continuous training to help franchisees adapt to evolving market trends and improve their service delivery. This includes periodic refresher courses, webinars, and updates on best practices.
  4. Technology and Software Training
    Specific training on the software and technology systems used to manage bookings, memberships, and other aspects of the business is provided. This ensures franchisees can utilize the tools effectively to streamline operations.
  5. Sales and Marketing Training
    The franchisor offers programs to train franchisees on effective sales techniques and marketing strategies tailored to promote Venture X in their local markets.

Territory Protection

Venture X offers territory protection to its franchisees, ensuring they operate within an exclusive area without competition from other Venture X locations. This exclusivity allows franchisees to focus on building their client base and maximizing market potential within their designated territory.

The protected territory's size is determined based on factors like population density and market demand, promoting fairness and profitability. By providing territorial security alongside marketing and operational support, Venture X fosters a stable and growth-focused environment for franchisees.

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