The Coven Franchise FDD, Profits & Costs (2025)
The Coven, a coworking franchise, was launched in 2017 in Minneapolis, Minnesota, with a clear vision of creating inclusive, community-driven workspaces. Founded by Alex West Steinman, Erinn Farrell, Bethany Iverson, and Liz Giel, the brand set out to design professional environments where people from all walks of life could feel safe, supported, and empowered.
Today, the company is based in St. Paul, Minnesota, and began offering franchise opportunities in 2022 to expand its distinctive approach to coworking.
Members of The Coven gain access to a wide range of services, including shared desks, private office suites, meeting rooms, event venues, virtual mail handling, and an engaging online community.
The brand’s mission is to uplift women, non-binary, and trans professionals by centering equity and inclusion in every aspect of its operations. What makes The Coven stand apart from conventional coworking models is its dedication to community building and measurable social impact.
Initial Investment
How much does it cost to start a The Coven franchise? It costs on average between $213,000 – $465,000 to start a The Coven franchised center.
This includes expenses for leasehold improvements, office furniture, technology, and initial operating costs. The total investment varies depending on several factors, such as the size of the coworking space, the market location, and whether the franchisee decides to lease or buy the property.
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $50,000 |
| Site Selection Assistance | $0 to $2,000 |
| Rent (3 months) | $45,000 to $84,000 |
| Lease, Utility and Security Deposits | $2,000 to $10,000 |
| Design and Architectural Fees | $5,000 to $35,000 |
| Design Services | $15,000 to $25,000 |
| Leasehold Improvements | $50,000 to $100,000 |
| Equipment | $2,500 to $5,000 |
| Fixtures & Furniture | $15,000 to $100,000 |
| Inventory | $1,000 to $5,000 |
| The Coven Digital Community, Booking Software, and Designated Software (Including 3 months of fees) | $4,400 to $9,200 |
| Signage | $2,500 to $5,000 |
| Training Expenses | $2,000 to $8,000 |
| Community Grand Opening Marketing Campaign | $10,000 |
| Licenses, Permits and Professional Fees | $3,000 to $5,000 |
| Insurance | $1,000 to $2,000 |
| Additional Funds – 3 months | $5,000 to $10,000 |
| TOTAL | $213,400 to $465,200 |
Average Revenue (AUV)
How much revenue can you make with a The Coven franchise? A The Coven franchised location makes on average $372,000 in revenue (AUV) per year.
Here is the extract from the Franchise Disclosure Document:
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Frequently Asked Questions
How many Coven locations are there?
As of the latest data, The Coven operates a total of seven coworking locations. Two of these are company-owned, while the remaining five are franchise-owned sites.
What is the total investment required to open a franchise?
The total investment required to open a The Coven franchise ranges from $213,000 to $465,000.
What are the ongoing fees for a The Coven franchise?
The Coven franchise charges an ongoing royalty fee of 8% of monthly revenue, a marketing fee of 2% of monthly sales, and a fixed platform fee of $850 per month.
How much can a The Coven franchise owner expect to earn?
The average gross sales for a The Coven franchise are approximately $0.37 million per location. Assuming a 15% operating profit margin, $0.37 million yearly revenue can result in $56,000 EBITDA annually.
Who owns The Coven?
The Coven franchise is owned by its four co-founders: Alex West Steinman, Erinn Farrell, Bethany Iverson, and Liz Giel.
Disclaimer
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