Co-Working Giant Looks to McDonald’s Model to Fend Off WeWork

The world’s largest flexible-office company, trying to fend off a challenge from upstart WeWork Cos., is harking back to a business model popularized decades ago by fast-food chain McDonald’s Corp.

IWG PLC, which manages office brands such as Regus, Spaces and No. 18, is looking to accelerate growth through franchising. The Zug, Switzerland-based company leases office space, builds it out, furnishes it and effectively sublets it to users under flexible terms for a markup.