WEWISH. Shared office provider IWG reckons a franchise model may be an answer to its growing problems. On Tuesday, the 3.6 billion pound WeWork rival revealed a 174 million pound adjusted operating loss for 2020. The news and its forecast of more “challenging market conditions” for the months ahead sparked a near 9% slide in its shares. An office revolution could help. IWG founder Mark Dixon is betting that as lockdowns ease, staff will want to work from local shared offices rather than return to central corporate locations. IWG will offer big companies access to thousands of franchised locations. The shift requires Dixon to sell off IWG’s leases to franchisees, which will pay a fee to use the company’s brand. It’s a punt on the pandemic permanently changing working habits, but in a specific way. IWG’s share price, which is still down nearly 20% since the outbreak of Covid-19, suggests investors remain to be convinced. (By Aimee Donnellan)