In The Loop: WeWork Israel Turns To Franchise, IWG Fails To Get Out Of Lease, And More Industry News

Calcalist reported this week that “WeWork Israel is about to replace its current business model with a new franchise system.” According to the report, Ampa Real Estate Ltd will become WeWork’s first franchisee, taking over WeWork’s 13 coworking spaces across six cities. “Secret negotiations have been taking place for several months between WeWork’s corporate office and its local branch,” sources told the news outlet. Under the franchise business model, WeWork will receive a percentage of Ampa’s income in exchange for its use of the WeWork brand.