The workplace has undergone a significant transformation. Companies of all sizes increasingly provide employees with the choice of how and where they work. Additionally, there is a demand for nearby workspace due to the continuous rise of solopreneurs. This is where the Success Space franchise throws opportunities for people who are willing to work on their own in an open designated space with all the amenities provided in favor of them.
What is the Success space?
Success Space is a distinctive coworking place for creative workers to work and study on their own or with others in a casual yet professional setting. The demand for a new sort of workplace in a suburban setting that is socially conscious, technically adept, and positioned locally is met by the Success Space. For fascinating information on why you ought to start your own Success Space coworking space, keep reading.
Is Success Space Franchise Opportunity?
It encourages a group of like-minded, goal-oriented people to cooperate in a workplace setting. Success Space is the ideal private space to think deeply, gather with others, and brainstorm, whether for coffee or happy hour. This exceptional franchising opportunity has been thoughtfully planned to produce various income streams.
From its extensive cafe selections to its acclaimed coworking space design to its provision of Sucess coaching services to the neighborhood business community. Knowing that Sucess® is a well-known brand that will instantly draw customers, members, and business owners enables you to invest with confidence.
Facts That Nobody Told You About Success space
- In the business services sector, a Success Space franchise might you the opportunity to launch your own company and become your own boss.
- It meets the demand of the new modern world of work-from-home or remote working trends for people.
- This franchise is very tech-savvy and offers a very good nature for any individual to work with.
| Success space Franchise Information | |
| Industry Type | Business Services |
| Sub Category | Coworking Space |
| Year Established | 2021 |
| Company Name | Success Space |
| Founder/Management Head | Ted Laatz, President |
| Franchising Started | 2021 |
| Employees at Company H.O | 12 |
| Franchise Expansion Plan | They are planning to expand their business in the mentioned US states Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, and many more. |
| Social Media Handles | |
| Company Office location | Dallas, TXUnited States |
Success Space Franchise Requirements
Success Space is growing nationally as an up-and-coming franchising idea with both single- and multi-unit franchises operators. Franchisees who comprehend how their “job” is evolving make for the best franchisees.
With a background in real estate, management, or other retail-related business experience, and with sufficient capital to support the initial Sucess Space investment ranging between $454,650 and $776,150, Sucess Enterprises is seeking smart businesspeople to invest in their local communities.
How much does a Success space franchise cost
The initial cost of investing in this franchise is $445,650 – $758,150.
How much does it cost to franchise a Success space in the United States?
No information regarding this has been disclosed about Sucess Space regarding the US costs and financial data.
| Success space Franchise Initial and On-going Franchise Cost | |
| Success space Franchise Fee | $30,000 – $45,000 |
| Success space Franchise Cost | $445,650 – $758,150 |
| Royalty Fee | 6% |
| Advertising Fee | 1% |
| Term of Agreement | 10 Years |
| Is the franchise term renewable? | Yes |
| Renewable Franchise Fees | Not disclosed |
Is the Success space franchise worth the investment?
The Sucess space net growth is currently 0% as they have just initiated the franchising opportunity. Their growth rate is also been 0%. Currently, it is not worth the investment.
How is Success space Franchise Territory Granted?
There is no exclusive territory available to grant.
What is the Success space Franchise Term of Agreement and Renewal?
The term renewable of the Sucess Space franchise is 10 years. They do have a renewable term which has not been disclosed yet.
Does Success Space Franchise provide Financial Assistance?
Franchisees are given some financial support from Sucess Space. Franchise fees are covered by internal funds provided by Sucess Space. They have connections with third parties who can provide funding for startup expenditures, inventory, equipment, accounts receivable, and payroll.
Pros & Cons of Success Space Franchise
Pros
- You can expect a higher turnover later as the world is trying to fit into this trend
- You can choose to work remotely as they function for employees who work flexibly.
- There will be high profit and revenue generation as the franchise will also have a different set of stalls in build in the co-working space to get the highest turnover of the year.
Cons
- Less overall authority over the company
- Possible internal competition
- Tight restrictions on what you may and could do
How much do Success space franchise owners make?
This information has not been disclosed yet, as they have just begun franchising.
What is Sucess space franchise profit?
This information has also not been disclosed in the FDD analysis of the year.
What are Sucess Space franchise reviews?
There have not been any reviews published online due to the franchise being a fresh one. This can be a very profitable business later in the year as the industries and all the companies may shift to a remote working system. In case, the employees after a point will be tired and will look for fresh places to work with. This is where the Sucess Space franchise comes into play.
Success space Franchise Rankings
No ranks have been given to Sucess space Franchise due to their recent initiative in the industry.
Franchise Deck Analysis and Overview
The 5,000 square foot Sucess Space franchise concept will provide flexible access to workspaces that include a private office, mini, micro, and booth spaces as well as larger open shared areas perfect for business, social, and training events. All of these workspaces were created with post-COVID-19 behaviors in mind. By the minute, hour, day, week, month, or year, all are accessible. A Sucess® Certified CoachTM on-site will provide scheduled and on-demand professional development and coaching services through Space. In order to enhance the in-person growth experience, Sucess will also broadcast a national topic twice a month into the location of the franchise. This will be followed by hands-on engagement from the regional Sucess® Certified CoachTM.
Is the Sucess space Franchise Profit Worth the Franchise Cost?
As of now, the Sucess space franchise is not worth the profit. Their initial investments amount are much more to be able to generate the turnover profit for the whole year. As a new start-up, they have not been able to get the net profit as expected. Hence, it is not worth the franchise cost.
| Competition Analysis of Sucess space Franchise | ||||||
| Franchise Brand | Cost to Franchise | Franchisee Fees | Royalty + Ad fees | Expected Profit | Recoup of Capital | FD Rating |
| Success space Franchise | $446K – $758K | $30,000 – $45,000 | Royalty fee is 6% and the Ad fee is 1% | Not disclosed in FDD | Not disclosed in FDD | 2.5/5 |
| Regus Franchise | $549K – $998K | $50,000 | Royalty fee is 6% and the Ad fee is 2% | Not disclosed in FDD | Not disclosed in FDD | 3.0/5.0 |
| Office Evolution Franchise | $389,650 – $1,269,800 | $39,500 – $49,500 | Royalty fee is 7.5% and Ad Fee is 3% | Not disclosed in FDD | Not disclosed in FDD | 3.3/5 |
| Venture X Franchise | $388,090 – $3,636,710 | $60,000 | Royalty fee is 6% and the Ad fee is 2% | Not disclosed in FDD | Not disclosed in FDD | 3.0/5.0 |
Conclusion
Remember that you should set aside extra money so you have enough to survive while the Sucess Space company grows. Depending on the franchise opportunity, this could take anywhere from six months to more than two years. To learn the exact cost of launching the Sucess Space franchise and how long it takes to
1) launch a Sucess Space business, you need to speak with at least five franchisees. ‘
2) Pass, make a profit
3) achieve a sizable income.
If and when you reach the point where your Sucess Space franchises generate a sizable profit, you might have the cash on hand to employ a manager to run the day-to-day operations and put in fewer hours.
Explore other coworking or real estate franchise opportunities,
- Red Barn Franchise
- Regus Franchise
- WeWork Franchise
- Office Evolution Franchise
- Venture X
- Minuteman Press Franchise
- Best Coworking space franchise
Frequently Asked Questions (FAQs)
- Is the Sucess space franchise profitable?
Not, as of 2022 as no information regarding the profits has been shared in the FDD.
- Can you make money owning a Sucess space?
You can make money owning a Sucess space.
- Is a Sucess space a franchise?
Yes.
- How do Sucess space franchises make money?
They operate in different locations in the USA providing a space for WFH employees or remote working people. They provide different kinds of food, wifi, and consulting facilities to their clients and ask them to pay for them.
