Venture X and Office Evolution report impressive increases in revenue, memberships, franchise agreements, and location openings; Intelligent Office reveals noteworthy results in its first year under the umbrella of the coworking franchisor.
WEST PALM BEACH, FL, March 05, 2025 /24-7PressRelease/ — Double-digit sales growth and significant expansion marked 2024 for Vast Coworking Group™ (Vast), the world’s largest privately owned franchisor of coworking spaces. Systemwide revenue grew 14% over the previous year, fueled by the performance of its two longest held coworking brands, Venture X® and Office Evolution®. Its third brand, Intelligent Office®, sustained steady performance amid its acquisition by Vast in January 2024.
The purchase of Intelligent Office, the first concept to commercialize the virtual office space, was one of Vast’s two key initiatives for 2024. Vast fulfilled the second in October 2024 with the announcement of a partnership with WeWork, the leading global flexible space provider, which paired Vast’s presence in fast-growing suburban markets with WeWork’s footprint in major metropolitan areas, strengthening both companies’ ability to meet hybrid and distributed teams’ growing demand for flexible workspaces.
“The coworking industry is evolving at an unprecedented pace, driven by enterprise demand for flexible work solutions and a growing recognition from commercial landlords that flexible workspaces are essential to the future of office real estate,” said Jason Anderson, President of Vast Coworking Group. “The formation of networks and partnerships in our industry is having the same effect that it had on the hospitality and fitness industries in previous decades; strategic alliances and, more importantly, access has changed the game. Vast is proud to be at the forefront of this evolution, setting the standard for coworking and defining the future of work.”
Beyond Vast’s impressive revenue growth, the company saw systemwide memberships surpass 60,000 worldwide. Vast now has more than 210 locations covering 2.5 million square feet globally – exceeding the number of domestic locations operated by WeWork.
Year-over-year performance was also healthy for Vast’s three individual brands:
• Venture X: The brand raised 23% more revenue, opened 13 new workspaces, signed 17 franchise agreements, and has seven new units in development to open in the near future. The company expanded its global footprint by more than 124,000 square-feet, and its membership ranks rose by 22%.
• Office Evolution: It saw a revenue increase of 8%, opened 10 new locations, and added nearly 75,000 square feet across the U.S., including the expansions of eight existing locations to meet increased demand. The brand finalized 22 new franchise agreements, has eight units in active development, and will open an office this year in Toronto, Ontario – its first international location in Canada. The brand also saw a 9% growth in its membership numbers.
• Intelligent Office: Revenue held steady for the newest brand under the Vast Coworking Group umbrella through a transitional year. More notably, the company has seen a surge in franchise development since joining Vast, signing seven franchise agreements and three new locations currently in development.
Adding to this success, Entrepreneur magazine included Office Evolution and Venture X on its 2025 Franchise 500®, the world’s first and most comprehensive ranking of franchise businesses. Office Evolution also ranked #1 in the Coworking Spaces category.
“When we formed Vast, we set out to revolutionize the coworking experience by connecting brands, services, and amenities across the industry and create an interconnected ecosystem that prioritized access and convenience. It’s astounding to see our intention come to fruition in just a few years’ time,” said Ray Titus, founder and CEO of United Franchise Group™ (UFG), of which Vast is an affiliated company. “2024 was a remarkable year, setting the stage for even greater achievements ahead.”
About Vast Coworking Group
Vast Coworking Group™ is comprised of Venture X, Office Evolution, and Intelligent Office and specializes in franchising within the coworking industry, offering solutions, expertise, and shared service options within the flexible workspace franchise community. It is the world’s largest privately-owned franchisor of coworking spaces and the third-largest network globally. An affiliated company of United Franchise Group™ (UFG), Vast Coworking Group was founded in 2023 by Ray Titus, founder and CEO of UFG, with the express intention of building a framework to connect a variety of coworking brands, services, and amenities within the coworking industry, providing the largest privately owned affiliated franchise network of flexible, professional, and shared office space options on the planet. For more information, visit www.vastcoworking.com.
About United Franchise Group
Led by CEO Ray Titus, United Franchise Group™ (UFG) is home to an affiliated family of brands and consultants including Signarama®, Fully Promoted®, Transworld Business Advisors®, Exit Factor™, Accurate Franchising Inc.™, Franchise Real Estate™, the Vast Coworking Group™ division comprised of Venture X®, Office Evolution® and Intelligent Office®, and Big Flavor Brands™ with The Great Greek Mediterranean Grill®, Graze Craze® and Cannoli Kitchen Pizza®. UFG affiliated brands include over 1,800 franchises in more than 80 countries, with consultants that have helped develop over 350 brands into franchises with more than 2,500 franchisees. With over three decades in the franchising industry United Franchise Group offers unprecedented leadership and solid business opportunities for entrepreneurs.
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