Open a specialty shared workshop (wood, sewing or metal)

Hobbyists and apartment dwellers without garage space, craft sellers, and people wanting to learn a skill.

Monthly memberships or hourly bench rates, equipment orientations, beginner classes and occasional private group sessions.

• Skill in your chosen craft
• Teaching beginners
• Customer service
• Keeping equipment maintained

• Zoning and fire code for the type of work, such as dust collection for woodworking, check with your city or county
• General liability insurance that covers members using equipment, and workers' compensation if you hire
• Injury risk and waivers, have a lawyer review your member agreement
• Equipment wear and repair costs, set aside a maintenance budget
• Whether you need a local business license or sales tax registration for any supplies or materials you sell, check with your state

Estimates put startup costs at typically around $15,000 to $60,000, depending on your premises, the machines you buy and your insurance. Set aside a maintenance budget, since equipment wear and repair costs add up.

Estimated monthly revenue is typically around $3,000 to $12,000, depending on how many members rent bench time and machines and how many classes you teach. Your craft and local demand will affect the figure.

Check zoning and fire code for your type of work, such as dust collection for woodworking, with your city or county. Also check general liability insurance covering members, a member agreement reviewed by a lawyer, and any local business license or sales tax registration.