Regus, the world’s leading flexible workspace provider, has launched a new franchise scheme in Malaysia. The new programme allows Malaysia franchise operators to enter the booming workspace industry with the Regus brand for the first time ever, and in turn help the brand to expand its global network.
Flexible workspace, sometimes known as coworking, has become a high-growth industry in recent years. The term refers to office space, meeting rooms and coworking areas that can be rented by individual workers or companies for a temporary period of time, from one hour to several years. The industry is estimated to be growing by 24% each year. By 2020, 50% of all workers will be remote most of the time. In 2022, the global mobile workforce will be 1.87 billion people. This is why global real estate giant JLL estimates that up to 30% of corporate real estate could be flexible workspace by 2030.
Matthew James Kenley, Head of Partnership Growth at IWG said: “Three in ten buildings on every main street around the world could offer a new franchise opportunity in the coming years. The serviced office market is one of the most exciting growth markets in the world, and the next frontier for franchise operators. We are excited to partner with new franchise operators to bring the many benefits of flexible working to more people and businesses across Malaysia.”
A new franchise opportunity with great returns
Regus has been running successful workspaces for thirty years, ever since it founded the industry in 1989. It has developed its business model through many economic cycles. Its operating model is proven, demonstrably successful and can provide partners with a highly attractive return on their investment. Part of IWG, the global operator of leading workspace providers with a network of over 3,300 centres in more than 1,100 cities and 110 countries. Regus now wants to accelerate its global growth with franchise partners worldwide.
Kenley added: “Imagine being given the chance to work with previously successful franchise industries such as restaurants or gyms at the beginning of their growth explosions. A similar or even larger opportunity awaits in the serviced office market. It’s an opportunity to diversify away from traditional franchise industries, and benefit from strong cash returns and significant returns on investment.”
As part of its new programme, Regus offers comprehensive infrastructure to support franchisees throughout the lifecycle of their investment. The global Regus franchise team works closely with its franchisees to ensure they have a framework to find the right location and design; are able to grow their market footprint backed by world-class operational and marketing support; and have the quality, 24-hour customer service Regus is known for.
“In the last six years, Malaysia has grown consistently with just six centres in two cities when we entered the market, to the 34 centres in five cities today. As demand for coworking space continues to grow exponentially, IWG Malaysia is planning to open at least 40 centres by year-end. Through this new franchise programme, we will be aggressively expanding our network and service offering in all the major and suburban cities, to offer the Regus experience that is available over 3,000 locations worldwide”, ended Kenley.