Local business networking group

Local business owners, sole traders and small business operators who pay membership fees to get introductions and referrals. Sponsors such as banks, accountants or printers may also pay to be involved.

Monthly or annual membership fees, plus optional visitor fees per meeting and sponsorship of the venue, coffee or guest speaker slot. Revenue grows as members join, while venue and catering costs stay fairly steady.

• Organising and running meetings
• Confident talking to strangers
• Building trust and keeping members happy

• Public liability insurance, and check what the venue requires of hosts
• Only one member per trade can be a promise you make, so decide your membership rules early and keep them fair
• Check your obligations around collecting fees and GST once turnover reaches the threshold
• Groups can take months to fill, so plan for slow early meetings and keep venue costs low
• Check whether another networking group nearby already covers your members, and how yours is different

Startup costs are typically around $500 to $3,000, depending on venue costs, marketing and how you set up your meetings. These are estimates, so keep venue costs low while the group is still filling up.

Monthly revenue is typically around $300 to $3,000, depending on member numbers, fee levels and any sponsors. Groups can take months to fill, so expect slow early meetings. Allow at least about 6 hours a week to run it.

Check public liability insurance and what your venue requires of hosts. Check your obligations around collecting fees and GST once turnover reaches the threshold. Decide your membership rules early, and check whether a nearby group already covers your members.