Neighbourhood coworking space

Freelancers, remote employees, small businesses and community groups who want somewhere to work close to home.

Monthly memberships for hot and fixed desks, day passes, and hourly meeting room bookings. Some spaces also add private offices or event hire.

• Welcoming and good with people
• Basic bookkeeping and budgeting
• Local networking and promotion

• Lease length, rent reviews and make-good clauses, ideally get the lease checked by a solicitor
• Check with your local council whether the premises can be used as a coworking space and whether you need approval for fit-out or signage
• Building fire safety, occupancy limits and accessibility requirements
• Public liability and contents insurance, plus workers compensation once you hire staff
• Slow early months while membership builds, so keep some cash in reserve
• GST registration once turnover reaches the threshold

Estimates suggest startup costs are typically around $20,000 to $100,000, depending on the premises, the size of the fit-out and how many desks you set up. Keep some cash in reserve for slow early months.

Estimates suggest monthly revenue is typically around $5,000 to $22,000, depending on membership numbers and pricing. Early months can be slow while membership builds, and the time needed is estimated at around 25 hours a week at minimum.

Check lease length, rent reviews and make-good clauses, ideally with a solicitor. Also check with your local council about permitted use and approvals, building fire safety, occupancy and accessibility, insurance, and GST registration once turnover reaches the threshold.