International Workplace Group (IWG), a provider of flexible workspaces, is launching a new franchise business model in Thailand as a way to speed its expansion nationwide.
The franchise strategy will enable Thai entrepreneurs to open flexible workspaces under the IWG brand and have access to IWG's expertise and support systems.
IWG opened its first workspace in Thailand in 1999. Since then it has grown to 26 locations in the country across four cities. The company operates in 120 cities with 3,400 locations worldwide.
Franchisees will have the right to solely develop their exclusive territory with a preferable option of three different brands (Regus, Spaces, HQ). The centre runs at sizes of up to 800 square metres, with estimated initial capital for one centre starting at 20 million baht and a 15-year term offer.
"It is truly an exhilarating time for the flexible workspace sector here in Thailand and across the world, as we open up our business to franchise enthusiasts," said Matthew James Kenley, head of partnership growth at IWG. "The co-working and leasable office space scene is expanding at a very fast pace. Thus, this franchise business model offers a slice of the pie for franchisees to join us at this key moment, to capitalise on the explosive growth of the sector."
IWG launched its franchise programme in July and August 2019 at Thailand Franchise & Business Opportunity 2019 and Thailand Franchise Discovery Day.
"We received positive feedback from potential investors, real estate developers, brokers and financial institutions at both franchise events, illustrating a strong interest and demand from the Thai market and giving us the confidence to expand, as well as providing an opportunity for franchise operators to diversify away from traditional franchise industries," Mr Kenley said.