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Description

How To Open an Office Evolution Franchise?

To start your journey as an Office Evolution franchisee, you'll need to complete an ownership application. Following this, the franchisor will provide you with their Franchise Disclosure Document (FDD) for review. This document includes essential information about the franchise, including financial commitments and operational guidelines. If your application is successful, you may be invited to an interview and a discovery day where you can meet existing franchisees and learn more about the business model. After these steps, upon signing the Franchise Agreement, you’ll begin setting up your Office Evolution location.

What Makes Office Evolution a Compelling Franchise Choice?

Before committing to an Office Evolution franchise, it's crucial to conduct thorough research. This includes assessing your financial readiness for the initial investment, which can range from approximately $187,750 to $2,464,000. Additionally, you'll need to consider ongoing costs such as royalty fees and marketing contributions. The brand's focus on coworking and shared office spaces is growing in popularity, positioning it well in the current market. Understanding your local market's demand for flexible office solutions is also vital for ensuring a successful business launch.

Why You Should Consider Owning an Office Evolution Franchise?

Office Evolution offers a modern approach to office space, providing services such as executive suites, temporary office rentals, and co-working spaces. This flexibility appeals to a broad range of professionals, from freelancers to established businesses. If you have a passion for entrepreneurship and enjoy fostering community among professionals, this franchise could be a good fit for you. The support from the franchisor, including training and operational assistance, helps new franchisees navigate the initial challenges of starting their own business.

Is an Office Evolution Franchise the Right Investment for You?

The Office Evolution business model is designed for those looking to tap into the booming coworking industry, which has seen significant growth. With an investment range that can reach up to $2.5 million, it’s important to evaluate your financial capabilities and long-term business goals. Franchisees typically operate in suburban markets, where demand for flexible office solutions is rising. Consider whether this aligns with your business aspirations and if you possess the management skills required to run a franchise successfully.

Office Evolution Franchise Financial Requirements

Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.

A broad sector defining similar types of franchise businesses.

Industry

Business Services Franchises
A more specific division within the broader industry.

Category

Shared Office Spaces
Available financing options to help start the franchise.

Funding Year

2012
The main organization that owns the franchise brand.

Parent Company

OE Franchise, LLC
The key individuals guiding the franchise’s strategy and growth.

Leadership

Mark Hemmeter
The official business address of the franchisor’s headquarters.

Corporate Address

357 McCaslin Blvd, Ste 200, Louisville, Colorado 80027
The total amount required to launch the franchise.

Initial Investment

$187,750 - $2,464,000
The initial fee paid to join the franchise system.

Franchise Fee

$49,500
Ongoing percentage of revenue paid to the franchisor.

Royalty Fee

7.50%
Regular contribution toward the franchise’s advertising fund.

Marketing Fee

3%
The minimum liquid capital you must have on hand.

Cash Required

$187,750 - $2,464,000
The minimum total assets (minus liabilities) you must possess.

Net Worth Required

$300,000 - $500,000
The typical yearly revenue generated per franchise location.

Average Revenue

$547,994
The middle value of yearly revenue among franchise locations.

Median Revenue

$520,432
The smallest reported annual revenue among franchisees.

Lowest Revenue

$145,597
The largest reported annual revenue among franchisees.

Highest Revenue

$1,012,504
The estimated timeframe to recover your initial costs.

Breakeven Time

30 Months
The estimated period to recoup your total investment.

Investment Payback

20 Months

Office Evolution Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.

The overall number of operating franchise locations.

Total Units

79
The number of locations owned by independent franchisees.

Franchised Units

78
The number of locations owned and run by the franchisor.

Corporate Units

1
Units 2021 2022 2023
Total Units 73 79 79
Net Change YoY 6 0
Franchised Units 64 78 78
Net Change YoY 14 0
Corporate Units 9 1 1
Net Change YoY -8 0

Company Background

Office Evolution is a national provider of flexible workspaces, offering a range of professional office solutions tailored to meet the diverse needs of entrepreneurs, freelancers, and businesses. With locations across the United States, Office Evolution provides private offices, coworking spaces, meeting rooms, and virtual office services, all designed to enhance productivity and foster collaboration. Founded in 2003, the brand has established itself as a leader in the coworking industry, focusing on creating inviting environments that support the modern workforce.

Franchise Opportunity

Starting an Office Evolution franchise presents an exciting opportunity for aspiring business owners to join a rapidly growing segment of the real estate market. As more professionals seek flexible work environments, Office Evolution offers a proven business model with comprehensive training and ongoing support. Franchisees benefit from the brand's established reputation, a strong marketing presence, and access to a network of successful franchise partners, positioning them for success in their local markets.

Corporate Structure

Office Evolution, LLC was established in 2003 and is headquartered in Louisville, Colorado. The company operates under the name "Office Evolution" and has expanded its presence through franchising, allowing entrepreneurs to open their own locations while leveraging the brand's resources and expertise. The corporate structure is designed to facilitate franchisee success, with a focus on providing operational support and strategic guidance to franchise owners.

Royalties

Franchisees of Office Evolution are required to pay a royalty fee of 6% of gross sales, which contributes to the brand's marketing initiatives and ongoing support services. Additionally, franchisees are expected to contribute 2% of gross sales to a national marketing fund that helps promote the brand on a larger scale. These fees are essential for maintaining brand strength and ensuring franchisee success while fostering a collaborative community among franchise partners.

Company Mission

The mission of Office Evolution is to empower professionals and businesses by providing accessible, flexible workspaces that enhance productivity and foster collaboration. Committed to creating an inclusive and supportive environment, Office Evolution aims to meet the diverse needs of its clients while promoting a culture of innovation and growth. By focusing on customer satisfaction and community engagement, the brand strives to be the preferred choice for professionals seeking modern office solutions.

Brand Story

Office Evolution began its journey in 2003 when founder Mark G. Hemmeter recognized the need for flexible workspace solutions in a changing business landscape. With a vision to create a network of coworking spaces that empower professionals, the brand quickly gained traction and expanded across the country. Office Evolution stands out by offering not only physical workspaces but also a strong sense of community among its members, fostering collaboration and networking opportunities. Today, Office Evolution is synonymous with flexible office solutions, continually evolving to meet the needs of the modern workforce.

Frequently Asked Questions

The estimated initial investment for an Office Evolution franchise ranges from approximately $187,750 to $2,464,000. This total includes various expenses such as franchise fees, leasehold improvements, equipment, and initial marketing costs.