- 2024 Franchise 500 Rank
-
N/R Ranked #380 last year
- Initial investment
-
$391K - $1.4M
- Units as of 2023
-
76 5.6% over 3 years
Office Evolution is a coworking franchise that caters to professionals who want a safe and productive place to work outside of the home, as well as employers who realize the importance of a distributed workforce. With over 60 franchised units across the United States, Office Evolution also offers an intelligent alternative to small business owners and even multinational companies who prefer the overall efficiency of renting ready-to-use workspaces instead of buying and maintaining their own.
With almost two decades of experience, Office Evolution has grown to become one of America's biggest locally owned and operated coworking franchise companies.
Why You May Want to Start an Office Evolution Franchise
Ohana culture is a major positive force behind the success of Office Evolution franchises. Ohana is Hawaiian for family, and the word reflects the relationship between the company and its franchisees. When you become a franchisee, expect the support team to be a dedicated bunch—they operate out of the same Ohana spirit as everyone else involved with Office Evolution.
Office Evolution is a recurring revenue business that has enjoyed sustained growth and expanded its network greatly since beginning to franchise in 2012. These franchises are also easy to operate, with the corporate office handling all back-office responsibilities so you can focus on expanding your business. Office hours are the typical 8AM to 5PM, Monday–Friday, and you can hire a handful of people to manage your property.
What Might Make Office Evolution a Good Choice?
Office Evolution has been ranked in Entrepreneur's Franchise 500 multiple times in recent years. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
There are people–including global financial and professional services firm JLL–who believe that shared office space will have an even more major impact on the workforce by 2030. With such industry potential, the brand is classified as an essential service.
To become an Office Evolution franchisee, you should make sure you're financially ready for an initial investment that will include a franchise fee and other startup fees. You should also be prepared for ongoing fees that will include royalty fees, advertising fees, and potential renewal fees.
How to Open an Office Evolution Franchise
If you're interested in the Open Evolution franchise and have filled out the proper forms, the company may review your information and see if you are financially ready to open a franchise. If they like what they see, they may give you a call. They will start by detailing the business, your territory options, and other information you need to know about the company and its franchises.
You may also speak with a few franchisees to validate what you have learned about the franchisor. A franchise representative may then endorse you to the company's real estate experts while the franchise team drafts the term sheet and performs a background check on your assets.
When everything checks out, you may be invited to a discovery day. Here, you'll meet everyone at the corporate headquarters in West Palm Beach, Florida. You will also sign your franchise agreement and pay your initial fees. Then, you will officially be part of the Office Evolution family.
Company Overview
About Office Evolution
Industry | Business Services |
---|---|
Related Categories | Coworking Spaces, Miscellaneous Business Services, Miscellaneous Services |
Founded | 2003 |
Parent Company | OE Franchising LLC |
Leadership | Jason Anderson, Brand President |
Corporate Address |
2121 Vista Pkwy. West Palm Beach, FL 33411 |
Social | Facebook, Twitter, LinkedIn, Instagram, YouTube |
Business Overview
Franchising Since | 2012 (12 years) |
---|---|
# of employees at HQ | 224 |
Where seeking |
This company is offering new franchises throughout the US. This company is offering new franchises worldwide. |
# of Units | 76 (as of 2023) |
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Office Evolution 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
|
$49,500 |
---|---|
Initial Investment
|
$390,590 - $1,414,120 |
Cash Requirement
|
$175,000 |
Royalty Fee
|
7.5% |
Ad Royalty Fee
|
3% |
Term of Agreement
|
20 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 | Office Evolution has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
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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 | 32 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
|
Marketing Support |
Co-op Advertising
Ad Templates
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?
|
No |
Can this franchise be run part time?
|
No |
# of employees required to run | 1 |
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where Office Evolution landed on this year's Franchise 500 Ranking versus previous years.
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