Many small, medium and large businesses are adopting coworking, also known as flexible shared office space, in lieu of traditional office space, as the place they prefer to work. Most professionals find the idea of renting work space, alongside other business owners and freelancers a plus, as the synergistic aspect of coworking spaces tends to foster connection, community and collaboration. Additionally, coworking spaces feature excellent event venues, something that is often lacking in urban areas except at hotels and conference centers.
In August 2019, Venture X Richardson’s new owner, Dan Lee became the first franchisee to buy a transferable office space property in the Venture X system. Built in an affluent neighborhood of Dallas, the Venture X coworking space is a prime location due to the infrastructure relative to Richardson, East Plano and other parts of Dallas. Lee said, “We are accessible by many highways and businesses that are demanding more flexible office space.” We caught up with Dan Lee at the Richardson location and asked him a few questions about his new venture. Here’s what he shared with us about his Richardson experience, so far:
What has been the most interesting or exciting part of owning a Venture X location? The most challenging?
The business model of coworking has a great entrepreneurial feel to it: the collaboration with so many businesses, support structure, and professional and personal fulfillment . It is such a hot business concept, especially in Dallas. The challenging part is educating the consumer. People choose to office in many different ways and hold events or meetings with little to no choices. Venture X fills that market gap.
What would you say are the top 3 skills needed to be a successful entrepreneur and business owner?
Customer Service is number one. People want to be treated with respect and know that you are meeting their needs. Second, attention to detail is so important to ensure you have a well-oiled machine. It is always busy and you have to ensure that you do not miss anything. Lastly, don’t be afraid to get your hands dirty. You are the General Manager, Marketing, Sales, Operations, Accounting, Customer Service, Cleaning, Plumbing and Maintenance crew all rolled into one. You have to jump in the deep end and learn to swim.
What kind of feedback have you gotten from members?
Members know there are similarities between Venture X locations but that each one is unique. We’ve gotten feedback that our members feel very comfortable here due to our cozy and warm environment.
Have you found that people are familiar with the concept of coworking or have you had to explain it?
Dallas is really a mixed bag of information. Some people are very astute in regards to coworking and everyone else is fascinated with the concept once explained. Everyone sees the industry morphing towards flexibility.
How would you describe the business community in your area?
Our area has a lot of entrepreneurs who enjoy privacy and company at the same time.
What does your Venture X community look like? Similar industries? Varying ages?
We have all sorts of industries in our office: Financial, Technology, Oil and Gas, Marketing, IT, Signage, Venture Capital, and Restaurant Management.
Have you noticed any interesting work habits amongst your members?
People like to move around. They have private offices, but they like to get up, take their laptops and head to shared desks or even the community area. That’s a huge advantage to working in a coworking space – the flexibility you have.
What is unique about your location?
Our building actually housed a former coworking space and was rebranded into a Venture X location. We have a lot of the old charm and Venture X blended together. We are the only location with that combination.
How much square footage do you have? How many conference rooms? How many private offices?
We are at 9000 square feet. with 3 conference rooms. We have 23 private offices with plans to add more offices.
What types of events are held at your location? Any upcoming events?
We’ve held networking events, birthday parties, baby showers, bridal showers, memorial services, guitar lessons, and financial wellness seminars. Our space lends itself well to a variety of events and we love being part of the community and hosting these important personal and professional events.
A Personal Look at Dan Lee
Living in the Dallas area for thirteen years, Dan Lee says he chose the Richardson spot because it was a short commute for him and it was close to businesses in Dallas and Plano. Coworking space wasn’t exactly, as he puts it, “on my radar” when he attended a Franchise Expo. While looking at yoga studios, mobile storage units and CBD products, Lee said he must have walked past the Venture X booth ten times that day. On his way to the Expo exit, Lee recalls someone asking him if he was interested in office space. When he replied, “no,” thinking of the many Dallas office spaces he’d seen vacant, the Venture X sales rep explained the flexible shared desk model to him. That got his attention. Then, the sales rep invited Lee to tour the West Plano location. “Once I did the tour, I was hooked. It was a great concept and simple business model,” the Richardson location owner said…and the rest is history in the making!