Neighbourhood coworking space

Freelancers, remote employees, small start-ups and local firms that want a workspace outside the home or a spot for client meetings.

Monthly memberships for desks and private offices, plus day passes and hourly meeting room bookings.

• Welcoming and good with people
• Organised, with bookings and billing
• Local networking and marketing

• Lease commitment: check term, rent increases and exit options before signing
• Check with your municipality about zoning, change of use, occupancy limits, fire code and accessibility requirements
• Commercial general liability and contents insurance
• Slow early months while members build up, so plan enough cash for the first stretch
• Reliable internet, and privacy for calls and meeting rooms
• Check whether you must collect and remit GST/HST on memberships

Startup costs are typically around $25,000 to $90,000, depending on the unit, furnishings and internet set-up. Monthly revenue is typically estimated at around $4,000 to $20,000, depending on how many desks, offices and meeting rooms you fill.

Check lease term, rent increases and exit options before signing. Check with your municipality about zoning, change of use, occupancy limits, fire code and accessibility. Also check commercial general liability and contents insurance, and whether you must collect and remit GST/HST on memberships.

It is estimated to need at least about 25 hours a week, depending on opening hours. Useful skills include being welcoming, organised with bookings and billing, and local networking. Early months may be slow while members build up, so plan enough cash.