International Workplace Group expands franchise opportunity in Namibia
International Workplace Group (IWG plc) this month announced the expansion of the first flexible office space franchise opportunity in Namibia.
The company in a statement this week said it is currently seeking driven multi-brand franchise operators, landlords, private equity firms and high net-worth individuals to seize the opportunity 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 later this year, the company is determinedly targeting the African continent for development and investment opportunities for early adopters of the franchising model,” they added.
A report on the Future of Work in Africa, released by the World Bank this month, 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. To do so, the report maintains that they need to focus on the three E’s: enabling entrepreneurship, enhancing productivity through creating better business environments; and extending social protecting coverage.
Regus, an IWG plc company, started the flexible working movement over 30 years ago and has remained the global leader since, growing to over 3400 locations worldwide. Its proven business model has shown its resilience through many economic cycles in Africa and globally.
The group of IWG companies supports over 2.5 million community members which include successful entrepreneurs, individuals and small businesses as well as large corporates. Regus in Africa has worked at creating a professional business environment where African businesses can flourish and grow.
By 2020 it is estimated that 50% of workers will work remotely most of the time, which will create a dramatic shift in the way the African populations work. By 2030, it is predicted that 30% of all commercial real estate will be flexible workspace.
The only way to cater for the huge demand will be through rapid growth, hence IWG plc’s aggressive move to franchising in cities and urban centres, but also in smaller feeder towns and areas. With their focus on a “great day at work every day” the Regus brand alone has become the go-to for entrepreneurs and large corporates trying to attract and retain talent, they added.
Research across 80 countries showed that 83% of workers around the world would turn down a job that didn’t offer flexible working. Over 40% of workers said that their daily commute was the worst part of their day, opting for jobs that would allow them to work closer to home.
“Eligible franchisees will commit to opening a prescribed number of centres within a period of 2 to 3 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,” the statement further said.
According to the Group, 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; 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.