Flexible working is growing rapidly, with IWG’s continued expansion across its operating brands, seeing another 156 new locations opening in 34 countries around the globe
The company has established 156 locations across 34 countries across its operating brands, since the turn of the year, continuing its mission to service a flex working revolution. Add to this the expansion of their franchising model into the African continent and they are on track to reach their target of increasing their presence in the 1,000 cities and towns where they already operate.
Flexible working, sometimes known as co-working, refers to office space, meeting rooms and co-working areas that can be rented by individual workers or corporates from one hour to several years.
A report by consultancy firm The Instant Group found demand for flexible workspace globally increased by 19% last year, stating that the growth in the supply of flexible space was ‘the number one story’ in commercial property markets around the world.
John Williams, head of marketing at The Instant Group, put the growth down to two factors, a change in how large companies were operating – specifically in relation to flexible working practices – and changes to the nature of the workforce itself.
A reluctance by major companies to sign long-term lease agreements in order to stay financially flexible was also a driver according to Williams.
“Market demand is growing by as much as 30% each year in some global markets and it is our understanding that the majority of companies are still not aware of their options in flex space, they are still learning about the types of space they can access and the costs involved,” Williams says.
Two major brands that have used Regus to grow in Africa are Google and P&G. Google has 50 employees with Regus in Kenya, and P&G has 100 employees in the country.
Though they have the finances and resources to build their own offices, startup costs can be expensive, and getting an office up to spec with high-speed broadband, useable meeting rooms and desk space can take up valuable time.
Plus, using flexible office space reduces the commitment for these big organisations, many of whom are still testing the water in new African cities.
A report on the Future of Work in Africa released by the World Bank, shows that access to digital technologies could set Africa on a different path to the rest of the world.
While there is globally a focus on new and old sectors, in Africa digital transformation will predominantly enable advances in productivity and efficiency in current sectors.
IWG is currently seeking driven landlords, private equity firms, multi-brand franchise operators and high net-worth individuals to partner with to buy into the lucrative flexible working market at attractive returns.
With the first franchise centre already open in Angola and new centres opening in Guinea and Djibouti in September, the company is determinedly targeting the African continent for development and investment opportunities for early adopters of the franchising model.
Eligible franchisees will commit to opening a prescribed number of centres within a period of 5 years, have a proven track-record in business, property or investment and will work closely with Regus to find and design ideal locations and uphold IWG’s strict operating standards.
In return, franchisees buy into an established global brand that provides multiple revenue streams including monthly memberships and referral fees; leverage their highly effective marketing strategy and global sales platform, which generates 100,000+ enquiries every month; have access to IWG’s entire network of world-class operational support; and diversify their investment portfolio to include an industry that will have created 30 million jobs across 16 of the world’s countries by 2030.
To find out more: https://franchise.iwgplc.com/
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