Regus launches franchise model, again….
Earlier this year Property Fund World highlighted Regus arguably the worlds best-known provider of office space, meeting rooms and virtual offices were moving into the franchise business in the UK market. And why not when this model has already been proven by companies like Office Evolution in the U.S. Office Evolution at time of writing boasts 14 markets currently “Under Development” on their website.
This latest move from Regus will be closely observed and perhaps even followed by established operators in the UK. For those looking to ease the burden of lengthy lease exposure, or perhaps new market entrants looking to capitalise on what is arguably one of the fastest growing industries today it makes good sense. Regus is one of the best-known operators in the market today alongside the juggernaut of WeWork, and if you can tap into the know-how why not?
This time its personal or is that personnel?
Regus has created a dedicated team focussed on franchise opportunities which shows it really is committed to supporting its partners. Regus brings a wealth of experience and know-how in terms of People, Process & Technology which can give its partners a competitive edge to compete locally or globally.
But perhaps for some, this sounds all too familiar? Back in 2000, Regus made a similar announcement when it debuted on the stock exchange. At the time suggesting that 50% of its global stock could be under a franchise brand or model. Since then there seems to have been little focus on this area of the business opting instead for organic growth of its own centres boasting a presence in over 120 countries with 2,500 property partners.
ACCA Office joins the family
This time around Regus has come out of the blocks strong launching their first deal with ACCA Office which will see the development of 10 new centres in the next four years. Regus seems quite complimentary to ACCA’s other franchise interest when you consider Costa Coffee, Pizza Hut and Anytime Fitness are amongst its other key brands.
Maybe in the future, you’ll be able to grab a Cost Coffee on the way to your Regus Office and then work off last nights Pizza Hut in the local onsite Anytime Fitness gym all one the one account!
Franchising has worked well for many other brands and like any business, this could be a great way for Regus to continue to expand in a sustainable way, whilst derisking some of its key markets with a wider reach into the new emerging secondary cities and work-hubs.
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