Risk Score
Pending analysis
Investment Range
$346,500 - $3,377,000
Franchise Fee
$26,550
Min Cash Required
$100,000
Total US Locations
43
Business Summary
Venture X Franchising, LLC offers a franchise opportunity to independently own and operate a business providing co-working office space and meeting rooms. These facilities, known as 'Spaces,' blend boutique hotel and modern office styles, featuring collaborative open workspaces, private offices, conference rooms, and common areas like a reception, lounge, and full kitchen. Venture X operates using its proprietary marks and system, which includes designated technology platforms for managing various private membership plans, member events, and ancillary receptionist and administrative services. Franchisees are responsible for soliciting clients to purchase memberships and other access rights.
Corporate History
Venture X Franchising, LLC was formed in September 2015 as a Florida limited liability company. It began offering franchises for its co-working office space and meeting room concept in March 2016. The company was initially co-owned by RWT Holdings, Inc. and Olivia Company, LLC (OC) from its formation until December 2018, when RWT Holdings acquired OC's ownership interest. OC may still be involved in managing an initial facility that predates Venture X Franchising, LLC's franchising efforts and holds options to develop additional franchised locations. Venture X Franchising, LLC is part of United Franchise Group, a collection of affiliated franchise companies, with Venture X, OE Franchising, LLC, and IO Franchising, LLC collectively known as Vast Coworking Group, all offering co-working franchises.
Financial Overview
Investment Range
$346,500 - $3,377,000
Franchise Fee (Low)
$26,550
Franchise Fee (High)
$79,500
Minimum Cash Required
$100,000
Royalty %
6%
Marketing %
2%
Equipment Costs (Low)
$50,000
Equipment Costs (High)
$1,966,000
Working Capital
$225,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Venture X Franchising, LLC demonstrates a strong financial position with positive and growing net income over the past three fiscal years, reaching $1,499,426 in 2024. The company's members' equity has consistently increased, reaching over $4.1 million in 2024. Its auditors have issued an unqualified opinion, indicating that the financial statements are presented fairly and that there are no going concern qualifications or material misstatements. Venture X Franchising, LLC's cash and cash equivalents have steadily grown, though it maintains significant loan receivables with related parties. The company's overall financial health appears robust.
Financing Details
Venture X Franchising, LLC does not offer any direct or indirect financing to its franchisees. The company also does not guarantee any notes, leases, or other financial obligations for franchisees.
Performance Metrics
Total US Locations
43
Franchised Units
43
Corporate Units
0
Avg Square Footage
27,500
Franchising Since
2016
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
No
Litigation Count
4
Litigation Summary
Venture X Franchising, LLC itself has no pending or completed litigation, or restrictive orders to disclose. However, several of Venture X Franchising, LLC's affiliates have a history of litigation. In 1993, the Federal Trade Commission filed a complaint against Signarama, an affiliate, along with its directors, officers, and employees, alleging false representations of sales and profitability, failure to disclose transfer fees, and improper earnings claims. An injunction was filed in 1998 prohibiting these actions and requiring compliance. In 1996, Signarama also entered into a consent order with the Maryland Securities Commissioner for selling franchises while its registration had lapsed. In settlement, Signarama offered rescission to affected franchisees (all four chose to stay) and adopted a compliance program. More recently, in August 2021, The Great Greek Franchising, LLC (TGG), another affiliate, entered into a consent order with California's Department of Financial Protection and Innovation. TGG was found to have collected initial franchise fees prematurely and failed to disclose a change in a registration condition. TGG paid an administrative penalty, offered rescission to franchisees, and completed continuing education. Additionally, in March 2022, TGG, Graze Craze Franchising, LLC (GCZ), and United Franchise Group (UFG) (all affiliates) entered into consent orders with California related to alleged violations at a trade show. They were accused of offering franchise information without valid registration or exemption and making financial performance representations. They each paid an administrative penalty and agreed to contract an independent monitor for up to three years to assist with franchise sales policies and procedures.
Bankruptcy History
Venture X Franchising, LLC has no bankruptcy information to disclose in Item 4 of its FDD.
Agreement Terms
Initial Term
35 years
Renewal Term
35 years
Renewal Conditions
To renew their franchise agreement, Venture X Franchising, LLC franchisees must be in compliance with the agreement, provide written notice of their intent to renew 9 months before the term ends, and have no outstanding breaches. They must renovate, modernize, and refurbish their facility (including equipment) to meet Venture X Franchising, LLC's then-current design and decor standards. Additionally, franchisees will pay a $2,500 renewal fee to cover administrative costs and must sign a general release. They will then enter into a new franchise agreement, which may contain materially different terms and conditions.
Training & Support Program
Franchisor Assistance
Venture X Franchising, LLC provides extensive assistance to its franchisees both before and after opening. Pre-opening support includes guidance on selecting a development area (for multi-unit deals) and a protected search area (for single units), site selection counseling (including through an affiliate, Franchise Real Estate), access to confidential operating manuals and lists of required items/approved suppliers, and proprietary design and build-out templates. Initial training is provided through remote instruction, corporate training in West Palm Beach, FL, and on-site training at the franchisee's location. Post-opening, Venture X Franchising, LLC offers additional training and refresher courses, continuing consultation and advice via phone, email, or intranet, and assistance with marketing and advertising material approval. The franchisor may also schedule mandatory annual conferences, list the franchisee's business on its website, administer a brand development Marketing Fund, conduct inspections and audits, provide manual updates, and research new technology, designs, and services for the system.
Initial Training Hours
71
Training Location
West Palm Beach, FL, virtual, and on-site at a local Venture X location
Ongoing Support
After opening, Venture X Franchising, LLC franchisees receive continuing consultation and advice via telephone, email, or intranet, with optional on-site assistance for a fee. The franchisor may require franchisees and their employees to attend up to five days of additional training annually at headquarters or another designated location, and may also require remedial training to correct defaults. Franchisees must obtain approval for any advertising or marketing materials not provided by the franchisor and for offering non-approved products or services. The franchisor may schedule mandatory annual conferences, list the franchisee's business on its website, administer a brand development Marketing Fund, and conduct inspections and audits of the premises and operations. Venture X Franchising, LLC also continuously researches and develops new technology, designs, and services, providing updates through various mediums, including mail, email, and a system-wide intranet.
Franchise Requirements
Ideal Candidate Profile
Venture X seeks qualified individuals or entities. While single-unit franchisees are recommended to personally manage day-to-day operations, they may appoint a VTX-approved Designated Manager who has completed the initial training program. For multi-unit developers, a Designated Principal or Representative is required, who must maintain direct or indirect ownership, dedicate significant time and effort to supervising the business, and meet VTX's standards. All managers, including the Community Manager, must successfully complete Venture X's initial training program. Candidates who are existing franchise owners in good standing with certain affiliated brands (Signarama, Fully Promoted, TBA, TGG, GCZ, OE, EXF, and IO) may qualify for a reduced initial franchise fee. Eligible United States military veterans or military spouses also receive a discount.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Commercial
Owner Participation
Supervisory
Territory Type
Protected
Staff Count
2
Territory Size Requirements
Venture X Franchising, LLC's Designated Territories are determined based on a radius around the facility, with no minimum radius or population explicitly required. The size and boundaries of a Designated Territory will vary based on the location and demographics surrounding the facility. Territories may be described using zip codes, streets, natural or man-made landmarks, or county lines. If based on population, Venture X Franchising, LLC uses territory mapping software or publicly available population information from sources like the U.S. Census Bureau. While a Designated Territory provides protection against other Venture X facilities, the franchisor and its affiliates retain the right to operate or license other businesses offering similar services under different trademarks within the Designated Territory.
Staffing Notes
Venture X Franchising, LLC requires franchisees to hire at least two employees to manage the business: a Community Manager and a Community Coordinator. The Community Manager must be hired at least 90 days before construction is complete, with a typical base salary ranging from $45,000 to $60,000. The Community Coordinator must be hired within 60 days of construction completion, with a typical base salary of $30,000 to $40,000. Both are required to complete Venture X Franchising, LLC's initial training program. If an owner chooses to fulfill one of these roles, only one additional hire is necessary. For multi-unit franchisees, each facility not personally managed by the owner must have a properly trained Designated Manager. The franchisee is solely responsible for all hiring, employment terms, supervision, management, compensation, and training of their staff, with all employees considered the franchisee's own, not Venture X Franchising, LLC's.