Shared offices, executive suites, virtual offices

Shared Office Space, Executive Suites

EXECUTIVE SUMMARY S-987
Serviced Offices Business

This is a rare opportunity to acquire a very well-established serviced office business with a solid track record. Other names for the serviced office industry include “office business centers”, “shared offices,” “virtual offices,” “co-working” and “executive suites” being the historic name.
The serviced office business consists of revenues earned by providing services such as dedicated receptionists, administrative support, private offices, virtual offices, conference rooms, and meeting rooms to companies of all sizes.

Fueled by recent economic trends, the shared office and co-working movement, which has been building momentum for years, is skyrocketing. It’s also revolutionizing how, when, and where people work. Its’ spike in popularity mirrors the rise of the nation’s independent workforce and the hybrid working model.

Government data supports this trend. “Our overall economy is shifting toward small businesses, where there is net growth, resulting in increased demand for flexible office space,” says Andrea Foertsch, founder, and principal of Disruptive Space as well as author of a NAIOP Research Foundation study. “Freelancers and startups now have places to work other than their kitchens or neighborhood coffee shops. The energized, motivated sense of community that coworking offers has proven its value and caught on. Shared office providers are supporting small business growth as well as flexible shifts in the use of building space.”


The global serviced office market size will grow from 23.66 billion in 2023 to 27.74 billion in 2024 at a compound annual growth rate of 17.2% according to The Business Research Company. The market consists of both independent operators and major players such as Regus, Servcorp and WeWork. Regus, for example, now known as IWG has over 4000 workspaces in over 120 countries serving over 8 million clients with revenues of 3.4 billion USD in 2022 and 4.2 billion UDS in 2023, the highest in its 35 year history.