Start a small-town coworking and office space

Freelancers, remote employees, start-ups and small firms that want an office outside the home without a long lease.

Monthly fees per desk or office, plus extras such as meeting room hire, printing and day passes. Costs are mostly rent, utilities and insurance, so income depends on keeping the space well filled.

• Sales and local networking
• Organising and basic property management
• Friendly customer service
• Budgeting and cash flow planning

• Lease length and break clauses, since you carry the rent whether desks are full or empty
• Planning use class and whether you need permission for the change of use; check with your council
• Business rates, building and public liability insurance, and fire safety risk assessment duties
• If you are subletting, make sure your landlord agrees in writing
• Data protection if you use CCTV or door entry systems; check whether you need to register with the ICO

Estimates suggest startup costs are typically around £30,000 to £100,000, depending on the building, the fit-out and how many desks and private offices you create. Remember that you carry the rent whether desks are full or empty.

Monthly revenue is typically estimated at around £3,000 to £12,000, depending on how many desks and offices you let and what you charge. Plan for the rent being payable even in quieter months.

Check your lease length and break clauses, whether the planning use class needs permission for change of use (ask your council), business rates, insurance and fire safety duties, landlord consent if subletting, and whether you need to register with the ICO if you use CCTV.