IWG, plc (LSE:IWG), the world’s largest provider of flexible workspace including Regus and Spaces, has announced the opening of a new franchise location in Toledo, Ohio. The location — Regus Toledo, Franklin Park — sits in Toledo’s Franklin Park neighborhood and is noted as one of IWG’s first franchise locations.
The center plans to open its doors as demand for IWG’s flexible workspaces in the US has surged ahead of the previous peak in summer 2019 and the group has seen sequential growth in occupancy since April 2021. The pandemic has had a dramatic impact in accelerating changes in the way in which we work, with companies indicating that hybrid work is here for the long term. This demand has been driven by a desire from employees to live and work locally following an extended period of working from home during the pandemic, where commuting long distances was no longer necessary.
The last two years have highlighted demand for the 15-minute city — a city in which most daily tasks can be completed by walking or biking — and workplaces that are integrated within cities. Regus Toledo, Franklin Park’s proximity to ProMedica, Franklin Park Mall, University of Toledo, and Downtown Toledo will help meet the growing demand for workspaces located in convenient, accessible, and urban areas.
The surge in demand for flexible workspaces has also translated to a surge in new locations committed by franchise. In fact, IWG has doubled the number of committed franchise locations around the world in 2021 compared to 2020 and there has been a total of 150 new center commitments compared to 67 in 2020.
“With hybrid work on the rise and flexible workspaces estimated to make up 30% of commercial office spaces by 2030, it is the perfect time for employees and companies to tap into the flexible workspace market,” IWG CEO of the Americas Wayne Berger said. “The flexible workspace sector has reached a tipping point. Following many years of continuous growth, global demand for temporary offices, meeting rooms and coworking areas is set to explode. IWG views franchisees as collaborative partners and provides guidance every step of the way, whether it’s choosing a location or establishing business and marketing channels. Franchising with IWG is an opportunity to break into an unsaturated market with considerable projected growth.”
Today, the flexible workspace sector is one of the most exciting growth markets in the world, which is why it is now viewed as the next franchise frontier. Recent user numbers and deals reflect the momentum of IWG and its flexible workspaces. In 2021, IWG has added 2 million new customers globally and signed record enterprise deals with multiple blue-chip companies and now works with 83% of the Fortune 500.
Located in Toledo’s Franklin Park neighborhood, the new center has 64 offices, 10 co-working spaces, 2 meeting rooms and can accommodate up to 158 workers. Rates start as low as $60 per hour for a meeting room.
“I am honored to be an IWG franchise partner and support businesses who want to operate a flexible workspace in the Toledo area,” said Doug Boehm, IWG Franchise Partner. “I am seeing significant shifts in the way people are working, and there is no doubt companies and employees are recognizing the benefits of working in a shared office environment. For me, the shift to hybrid working presents exciting opportunities as companies are seeking flexible workspaces closer to their homes.”
To learn more about franchise opportunities with IWG, visit https://franchise.iwgplc.com/