The Coven

The Coven

Franzy VerifiedInformation based on 2026 FDD

Business Services · Other Business Services

Investment min
$228.4K
Total: $228.4K–$410.2K
Avg gross revenue
$567K
Unit-level, 2026
Franchise fee
$50K
Per current disclosure
Royalty
8%
of gross revenue
Locations
6
Franchising since 2022

Description

What is The Coven?

Co-working spaces with a community focus on equity, inclusion, and belonging

The Coven is a woman-owned co-working franchise that offers inclusive, community-driven workspaces designed for professionals seeking belonging and growth. Founded in 2017 in Minneapolis,

The Coven provides a range of services, including shared coworking spaces, private offices, meeting and event venues, virtual mail services, and access to a vibrant digital community. Their franchise model empowers local entrepreneurs to create spaces that reflect both The Coven’s bold brand and the unique character of their communities. With a focus on equity and inclusion, The Coven is particularly committed to fostering environments where marginalized communities can thrive.

  • Women-led coworking space
  • BIPOC-inclusive membership
  • Mission-driven professionals
  • Freelancer & startup focused
  • Community organizing venue
  • Enterprise team memberships

Location Analysis

Where The Coven wins

The Coven's geographic footprint is concentrated in the Upper Midwest, specifically the Minneapolis–Saint Paul metro area in Minnesota. Both identified spaces operate within this single metropolitan core, situated in walkable downtown business districts inside multi-tenant office buildings rather than standalone facilities. This clustering reflects company-operated growth rather than dispersed franchised expansion, and no broader regional or national presence is documented. The brand targets urban downtown or dense mixed-use districts with transit access, flexible layouts accommodating open coworking alongside private meeting and event spaces, and inclusive design features such as all-gender restrooms. However, no franchise-published specifications for square footage, territory size, or build-out requirements were provided, meaning prospective franchisees will need to verify these details directly with the franchisor. The ideal member base includes women, nonbinary, and trans professionals, remote workers, entrepreneurs, freelancers, mission-driven organizations, and employers purchasing memberships as benefits. This audience suggests compatibility with larger metro markets featuring substantial professional and nonprofit sectors, though no minimum population or income thresholds are defined. Prospective franchisees should conduct thorough local market validation, assess competitive coworking density, confirm the presence of the target demographic, and clarify territory definitions and build-out expectations during due diligence before committing capital.
Total Locations
8
Franchise units
6
Corporate locations
2
Avg. sq. footage
5,000 to 10,000 sq ft
Territory check

Is your territory available?

We'll take you through a few quick questions, then The Coven confirms availability directly.

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Availability

Financial Analysis

The numbers behind The Coven

Avg gross revenue$567,023
Investment range$228,400 – $410,200
Investment midpoint$319,300
Brand fund2%
Royalty8%
Franchise fee$50,000
Min. net worth$750,000
Min. liquid capital$500,000
The Coven requires an initial investment between $228,400 and $410,200, with a flat $50,000 franchise fee, positioning it in the mid-tier range for business services concepts. Founded in 2017 with six units currently operating, the brand remains in early franchise development with limited demonstrated scalability outside its origin market. The reported gross revenue of $567,023 provides a baseline performance metric but offers no insight into operating margins, profitability, or unit-level economics without accompanying expense data. The coworking and membership-driven model implies recurring revenue potential but also carries exposure to occupancy risk, lease obligations, and the need for sustained member acquisition in competitive shared-workspace markets. The niche positioning—centered on women, nonbinary, and trans professionals alongside mission-aligned employers—may constrain addressable market size while strengthening brand loyalty and differentiation. Growth to date has been company-operated and geographically concentrated, meaning franchisees will be testing replication in new territories without an established multi-unit franchise playbook. Investors should treat this as a relatively unproven franchise system requiring hands-on operational engagement, careful site selection, and realistic assumptions about membership ramp-up timelines and competitive dynamics in their local market.
Did you know? The Coven, a business services franchise in the coworking and inclusive workspace sector, requires an initial investment ranging from $228,400 to $410,200. The franchise fee is set at $50,000. Founded in 2017, the brand currently operates six units, primarily concentrated in the Minneapolis–Saint Paul metro area.

Financing partners

Vetted partners, tailored to franchisees

Your Franzy advisor can connect you with these partners later in the process — competitive rates, specialized in franchise financing.

FranFund

Lender

CRF USA

Nonprofit SBA lender; provides financing for franchise acquisitions, startups, and expansion.

Lender

First Bank of the Lake

Lender

Pension Pros

Lender

The model

How The Coven works

01
Ownership

This franchise is flexible — it can be run either way.

Part-Time (Executive)

Owner stays in an executive role — sets strategy, hires a manager, and oversees crews. Typically 5–20 hr/wk after ramp; many keep their day job.

Full-Time

Owner runs the business as their primary job — leads the team day-to-day on the ground, 40+ hr/wk.

02
Revenue
Recurring revenueTransaction-basedBig-ticket salesService-basedProduct sales (retail)Hybrid model
03
Customer
B2B

Sells to businesses, contractors, or property owners.

B2C

Sells directly to consumers and homeowners.

Mixed

Serves both businesses and consumers.

FDD Item 7

Initial investment range

$228.4K–$410.2K
Most common
$228,400
Minimum
$319,300
Midpoint
$410,200
Maximum

The investment range midpoint (from range reported on Item 7) is $319,300 and financing can reduce cash-at-close by 80–90%.

FDD Item 19

Average gross sales

Avg
$312.9K
YOY change (2025 -> 2026)
—

According to Item 19 of the Franchise Disclosure Document, The Coven has an average gross revenue of $567K. (Note: This information is based on the latest FDD in our records. Please review the Franchise Disclosure Document (FDD) and confirm this information directly with the brand. We make no claims of accuracy for the information presented.)

Over time

0% YoY
6 units open as of 2026 FDD

2026 Franchise Disclosure

FDD documents

Below are items 2, 3, 4, 7, 11 and 19 for The Coven's 2026 FDD. The complete FDD is delivered to you directly by the franchisor, per the FTC Franchise Rule.

Estimated initial investment
FDD Item 7 · PDF
Financial performance representations
FDD Item 19 · PDF
Members-only items
Executive team
FDD Item 2 · PDF
Litigation
FDD Item 3 · PDF
Bankruptcy
FDD Item 4 · PDF
Franchisor assistance
FDD Item 11 · PDF
Members only
Unlock the 2026 FDD

Connect to download Items 2, 3, 4, and 11 — direct from the franchisor.

Buyer FAQs

Frequently asked questions

The initial investment for a The Coven franchise typically ranges between $228,400.00 and $410,200.00. This includes the franchise fee, equipment, real estate, and other startup costs. To get a detailed breakdown and better understand the financial requirements, we recommend scheduling a call with the Franzy team. We'll walk you through the specifics and answer any questions you might have. For more detailed information, refer to the financial sections of the FDD.

Disclaimer. The information provided on this page is based on the latest Franchise Disclosure Document (FDD) we have on record, which was issued in 2026. This information is for informational purposes only and is not intended to constitute legal, financial, or business advice. We make no guarantees or claims regarding the completeness or accuracy. Only the franchisor can confirm that the information is complete and accurate and we recommend consulting the franchisor directly for the most recent FDD and regarding any questions that you may have about the information provided.

The Coven
The Coven
$567K avg revenue · 6+ US franchises