I ran a maker space for a while. It consistently lost money, as do most of the ones whose owners I've talked to. The only ones that don't "lose" money are generally supported by donations and a core group of owners who are each putting several hundred a month in to keep the lights on (i.e. from an accounting perspective they're still losing money).
In addition, there's an interesting phenomenon in the maker community that a lot of people think IP (models, designs, plans, etc.) should pretty much be given away for free, which limits revenue opportunities.
[Edit to add info in case anyone comes across this in the future]: The #1 issue is actually rent in a lot of cases. There's a conundrum where the people who most want to use a maker space are the same people who want a maker space in a place with high rent (i.e. in a desirable urban area). On the flip side, people who have their own garage / shed / yard are generally much less in need of a maker space (which would be in a cheaper area to serve them) since entry-level prices for most tools have gotten pretty cheap in recent years.
Next is labor cost. If you're not paying yourself a decent salary for your time, you're basically cheating yourself into thinking your maker space isn't losing money. Realistic labor cost should run you at least double prevailing minimum wage in the area for the hours you're open, probably more if you're counting on people to help students with things like CNC machining.
Next up is tools & repairs cost. You can actually get decent tools going for less than you would think if you don't splurge for name brand everything (especially printers, CNC mills, laser cutters, etc.), but if you're open to the public, the public is going to break your stuff. A lot. And you're going to have to fix it or pay someone to fix it. A lot.
Then there's all the ancillary stuff like electricity (likely to cost more than you think), insurance, accounting, payment processing, marketing, etc. etc. Basically, if you want your maker space to make money like a business you have to treat it like a business and that means a lot of overhead.
In short, I don't recommend anyone start a maker space with delusions that it will make money. It probably won't. Only start a maker space if you and a bunch of your friends are all willing to pitch in every month to have a cool place to hang out and work on stuff.
> people who have their own garage / shed / yard are generally much less in need of a maker space
These are the people who also have enough money to actually spend on "doing stuff", but for whom going to a "dedicated space" (away from the home/family) to do it can be a huge inconvenience.
The co-op model is basically my last sentence and the fees/restrictions are a lot higher than most people want from a maker space. It can definitely work, though. Also it's important to distinguish between maker space and hacker space. The latter can be profitable since you're often making your money renting out communal working space ala the WeWork model. The former is a lot harder to pull off.
In addition, there's an interesting phenomenon in the maker community that a lot of people think IP (models, designs, plans, etc.) should pretty much be given away for free, which limits revenue opportunities.
[Edit to add info in case anyone comes across this in the future]: The #1 issue is actually rent in a lot of cases. There's a conundrum where the people who most want to use a maker space are the same people who want a maker space in a place with high rent (i.e. in a desirable urban area). On the flip side, people who have their own garage / shed / yard are generally much less in need of a maker space (which would be in a cheaper area to serve them) since entry-level prices for most tools have gotten pretty cheap in recent years.
Next is labor cost. If you're not paying yourself a decent salary for your time, you're basically cheating yourself into thinking your maker space isn't losing money. Realistic labor cost should run you at least double prevailing minimum wage in the area for the hours you're open, probably more if you're counting on people to help students with things like CNC machining.
Next up is tools & repairs cost. You can actually get decent tools going for less than you would think if you don't splurge for name brand everything (especially printers, CNC mills, laser cutters, etc.), but if you're open to the public, the public is going to break your stuff. A lot. And you're going to have to fix it or pay someone to fix it. A lot.
Then there's all the ancillary stuff like electricity (likely to cost more than you think), insurance, accounting, payment processing, marketing, etc. etc. Basically, if you want your maker space to make money like a business you have to treat it like a business and that means a lot of overhead.
In short, I don't recommend anyone start a maker space with delusions that it will make money. It probably won't. Only start a maker space if you and a bunch of your friends are all willing to pitch in every month to have a cool place to hang out and work on stuff.