Talk with Mike
Talk with Mike
Bench Time badge: a tree-ring clock with a saw and a hammer for hands, showing the time in HartlandBENCH TIMECOMMUNITY WOODSHOP
Lake Country, Wisconsin
Planned: open to members 24/7

At any hour, a member’s key fob would open the door.

Drag the saw to try another hour

A woodshop with a key that works at any hour

Bench Time is a 24/7 membership woodshop with classes and lumber for Lake Country. It would open in July 2027 between Pewaukee and Menomonee Falls, 12 to 25 minutes from Hartland.

Investor overview, October 2026. Confidential. Photos show other woodshops.

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The short version

Bench Time is one building with three parts: a woodshop members can use 24/7, a lumber room that sells wood, and a flex classroom for adult and kids’ classes. The same manager, tools, and brand serve all three.

Shops like this in other cities run 100 to 150 members in 5,000 to 8,000 square feet. About 262,000 people live within 25 minutes of Hartland, and the nearest membership woodshops are an hour west, near Madison.

Four answers come before any lease is signed: insurance quotes, zoning, the building, and presale demand.

The first three years on one line

Base case, months after a July 2027 opening

Month 9
$30K
Lowest cash. Monthly profit turns positive the next month, at about 108 members.
Month 24
$131K
Year-two operating profit, with 175 members.
Opening, July 2027
$390K
Invested before opening, with 50 founding members signed up.
Month 16
$35K
Paid from earnings to open the retail lumber store, at 140 members.
Month 36
$231K
Year-three operating profit on $718,800 of revenue. 190 members.
Adults and teens in shop aprons working together at a bench in a community woodshop

262,000 people and no membership woodshop

About 262,000 people live within 25 minutes of Hartland, in some of the highest-income towns in Wisconsin. The nearest membership woodshops are an hour west, near Madison. The one shop that tried on this side of the state charged $200 a month, opened only when staff were there, and closed.

Open today Closed About 25 minutes from Hartland Pin 7: Madison area, about an hour west

What woodworkers near Hartland can use today

Select one to find it on the map.

Why now

More work is moving onto screens. At the same time, more people want hands-on work and time with other people. A woodshop offers both.

6020
Minutes a day Americans spent with friends in person, 2003 and 2020
U.S. Surgeon General, 2023
21%40%
U.S. workers who use AI at work at least a few times a year, 2023 to 2025
Gallup, 2025
6.6%9.0%
Adults who did woodwork, metalwork, or leatherwork in the past year, 2017 to 2022
NEA Survey of Public Participation in the Arts

Enrollment at trade-focused public two-year colleges is up almost 20% since spring 2020. Sawdust Studios, The Joinery, Saratoga Joinery, Workbench Collective, and Members Workshop have all opened as membership woodshops since 2020.

48.9%of Waukesha County adults have a bachelor’s degree or higher
$106,076median household income in the county
23.2%of residents are 65 or older. In the research file, retirees are the core of every comparable shop’s membership
76%of households own their homes, many with a garage or basement shop

What those households don’t have is $200,000 of equipment, instruction, and other people who make things. That is what the shop offers.

A woodshop, a lumber room, and a classroom under one roof

Members get a key fob that works at any hour. The lumber room sells them wood. The classroom brings in new members and fills the weekday hours while members are at work.

A woodshop floor with workbenches, machines, and dust collection overhead

The woodshop

A new member takes the two-hour Safety Shop Course and gets a key fob that opens the door at any hour. Each major machine turns on only for members trained on it, so a member who hasn’t been trained on the jointer can’t start it at 2 a.m. That lets one manager run the shop.

$359,900in year three of the base case, from memberships, storage, add-ons, and hourly shop time
Rough-sawn slabs and boards standing on end in a lumber rack

The lumber room

From opening day it stocks walnut, cherry, hard maple, white oak, and poplar for members at a 35% margin. Once membership is established, month 16 in the base case, it becomes a retail lumber and slab store paid for from earnings. Lake Country has had no local source for slabs since July 2026.

$144,000in lumber sales in year three of the base case
A class gathered on a shop floor around a bandsaw and workbenches

The classroom

Five-week intro courses, Saturday project classes, an apprenticeship, after-school and summer courses for kids, and group builds for companies. A 10-foot overhead door opens the room to the shop floor.

$201,700in year three of the base case, from classes and programs

A week in the shop

Drag across the week, or press play, to see who would be in the building at each hour. Members can use the shop floor at any time. Programs run in the classroom and the assembly area.

Saturday, 10:30 a.m.
Staffed
Program counted in the forecast Extra upside, not in the forecast Staffed hours Members with key fobs

Staffed hours, with the front desk and lumber room open, are Tuesday through Saturday, 10 a.m. to 6 p.m. Every class and kids’ program runs with an instructor present. Second Saturday of each month: Shop Talk open house. Summer weekdays, 9 a.m. to 3 p.m.: kids’ camps.

Three shifts and an apprenticeship

The main plan is $149 a month for 24/7 access, with no contract. Each step up adds hours, storage, and perks, and Overtime is priced to be the easy choice. People who aren’t ready to join can book shop time by the hour.

Two members in shop aprons talking beside a workbench

First Shift

$99a month
  • Weekdays, 6 a.m. to 4 p.m.
  • Every machine you’re trained on, except the CNC and laser
  • Shared shelf storage
  • Member lumber prices and Shop Talk nights

All Shifts

$149a month
  • Everything in First Shift
  • 24/7 access, every day of the year
  • Your own project cubby
  • One guest pass a month and 10% off classes
Best value

Overtime

$199a month
  • Everything in All Shifts
  • The CNC, laser, and finishing room, with machine time at $25 an hour instead of $40
  • Your own lumber rack slot and two guest passes
  • 15% off classes, kids’ camps, and lumber, and first pick of Saturday benches
  • A monthly 30-minute project session with the manager, and the Safety Shop Course free

The Apprenticeship

$349a month
  • Everything in Overtime
  • Six hours of teaching a month with the manager, in a group of four
  • All project materials, and a finished piece to take home every month
  • Three-month minimum

The model assumes 25% of members choose First Shift, 45% All Shifts, and 30% Overtime. After annual plans and $49 household add-ons, the average member pays $138 a month, and the forecast uses that figure instead of the $149 list price. Founding members get $20 off any plan for two years.

By the hour or on a plan?

At 6 hours a month, All Shifts costs less than paying by the hour.

6

Non-members pay $25 an hour with a two-hour minimum, or $99 for a full day, during staffed hours only. An All Shifts member who uses the shop 12 hours a month pays about $12 an hour, so hourly time costs about twice as much and doesn’t pull people away from joining.

Classes are how most members find the shop

Every comparable shop in the research file that has grown runs classes. Community Woodshop in Los Angeles expects students to take several before joining, and The Joinery gives intro-course graduates a free month.

  1. Step 1

    Safety Shop Course

    $99, two hours

    The first class every member takes. No one can test out of it.

  2. Step 2

    Shop Class 101

    $350, five evenings

    Eight seats. Graduates get their first month of membership free.

  3. Step 3

    Membership

    $149 a month

    A key fob that works at any hour, and 10% off classes.

  4. Step 4

    The Apprenticeship

    $349 a month

    Six hours of teaching a month with the manager, in a group of four.

A child wearing ear protection drills into a board clamped in a vise

Shop Class Jr. and group builds

Kids’ courses run by age group. After-school courses meet for eight weeks, 90 minutes a week, with eight students, for $350. Summer camps cost $300 a week for half days and $400 for full days, the same prices Sawdust Studios charges.

WhittlersAges 7 to 10
JoinersAges 11 to 13
SawyersAges 14 to 18

Kids are never in the shop without staff. Instructors pass background checks, and there are no more than five kids per adult. Team Builds would bring in companies from the business parks of Pewaukee, Menomonee Falls, Waukesha, and Brookfield, at $120 a person for a two-hour build.

$83,300Adult classes
$51,300Shop Class Jr.
$41,900The Apprenticeship
$25,200Team Builds and events

Year three, base case. Birthday parties, date nights, private parties, and homeschool groups are not in the forecast. They are extra upside.

Shops like this in other cities

Owner-run membership woodshops have operated for a decade or more in cities smaller and less wealthy than Lake Country. They follow the same formula: a required safety class, 24/7 key access, $120 to $170 a month, classes that bring in new members, and one or two owners who teach.

Where $149 sits

For-profit woodshops charge $120 to $200 a month for 24/7 access, and volunteer makerspaces charge $40 to $95. Incomes in Lake Country are well above those in Columbia, Missouri, where Sawdust Studios charges $120.

Monthly price for unlimited or 24/7 plans unless noted. Prices from each shop’s website on September 22, 2026, except The Woodworker’s Gym, which closed (Woodworking Network, 2016).

Comparable membership woodshops
ShopOpened and sizeMembershipWhat else they sell
Sawdust StudiosColumbia, MO, population 130,8512020, moved to 7,000 sq ft in 2023, two owners$120 a month for 24/7 access, $150 with suppliesA $350-a-month apprenticeship, Saturday workshops, team outings, kids’ camps, and finished goods
Philadelphia WoodworksPhiladelphia, PA2012, 8,000 sq ft$169 unlimited, $129 day passLumber and private lessons. 125 active members by 2016
The JoineryMiddleton, WI2023, 5,200 sq ft, 100+ members$95 a month per household, 24/7A $350 intro course with the first month free, hardwood sales, and spray finishing
The ManufactoryCincinnati, OH2014, 17,000 sq ft$120 for all shops, $90 for the woodshop onlyMetal, machine, and laser shops, plus a retail store. Price unchanged since 2014
AsmblyAustin, TX2019, 13,000 sq ft, about 575 members$95 a month, volunteer nonprofit$672,000 of revenue and a $45,000 surplus in 2024 with almost no payroll (IRS Form 990)
Workbench RVARichmond, VANot listed$169 a month, or $139 on a 12-month plan, 24/7Lumber and a safety class
Workbench CollectiveSpringdale, AR2025$125 for 5 days, $199 for 10, $299 unlimited with a lockerKids’ semester courses for ages 7 to 18, date nights, team building, and homeschool groups
Community Woodshop SLCSalt Lake City, UTNot listed$150 for 8 days or $200 unlimited, 24/7Classes, with video onboarding before tool training

Prices hold

For-profit woodshops charge $120 to $200 and have kept those prices for years. The Manufactory hasn’t raised its price since 2014, and Sawdust Studios hasn’t since 2020.

Payroll decides profit

Every space with a large paid staff lost money from 2023 to 2025. Every space that lasted ran on one or two owners who teach, or on volunteers.

Classes bring in members

Community Woodshop in Los Angeles expects students to take several classes before joining. Sawdust Studios’ second owner started as an apprentice.

Three lessons from the 29 shops in the research file.

TechShop’s CEO, on closing all ten locations in 2017, said a network of staffed makerspaces is “impossible to sustain without outside subsidy.”
Forbes, 2017. TechShop carried $1.4 million of tools and a professional staff at each location. A single shop run by its owners is the version that works, and it is the version in this plan.
A wide view of a community woodshop floor with benches and machines

Part 2 of 6 The shop

What exactly would we build?

  1. 067,500 square feet between Pewaukee and Menomonee Falls

7,500 square feet between Pewaukee and Menomonee Falls

Rents along this stretch run $6 to $9 a square foot a year, plus taxes, insurance, and upkeep. Only 2.1% to 2.5% of industrial space in Waukesha County is vacant, so the plan expects a five-year lease and a build-out the shop pays for.

Option 1, the base caseLease for about $75,000 a year

The fastest option. Every number in this plan assumes a lease at $8.00 a square foot plus about $2.00 for taxes, insurance, and shared costs.

Option 2Buy for $710,000 to $900,000

A building an investor owns through a separate company and leases to the shop. For a $750,000 building with 10% down, owning costs about $77,800 a year against $75,000 of rent.

Option 3Build for $1.1 to $1.7 million

Before land, with 12 to 18 months of construction. Only if a custom building matters more than cost and time.

How the space is used

Select a room. Drawn to scale at about 100 by 75 feet. Not an architect’s drawing.

  • 1Member door, opened by key fob at any hour
  • 2Store door, open to the public during business hours

The classroom wall is a framed partition that can come out in a weekend if members need more room for good.

Open for $145,000 of equipment

Large machines are bought used at auction, where they sell for 40% to 60% of the new price. Late-model SawStop and Festool equipment is bought new, because it keeps 85% to 95% of its value. Phasing gets the shop open for $145,000 and lets membership decide what comes next.

Every machine new, on day one$395,000
Every large machine used$290,000
The phased plan, to open$145,000
See the opening equipment list
CategoryWhat’s includedCost
CuttingSawStop ICS 5 HP and PCS 3 HP table saws, two Bosch 12-inch glide miter saws$11,185
MillingUsed 16-inch jointer, Grizzly 20-inch planer, used 18-inch bandsaw, Laguna 14BX bandsaw, JessEm router table$13,998
SandingJet 22-44 drum sander, used edge and spindle sanders, 12-inch disc sander$5,009
TurningLaguna Revo 18/36 lathe$3,649
Drilling and joineryPowermatic drill press and mortiser$3,153
Dust collectionUsed Grizzly 10 HP cyclone, ducting to 25 machines installed in-house$16,950
Compressed airQuincy 5 HP 60-gallon compressor and line kit$2,931
Benches and fixturesTwelve shop-built benches, four assembly tables, 60 clamps, lumber and sheet racks, tool cabinets$17,947
SuppliesBlades, bits, sandpaper, and glue to open$2,000
Finishing cornerA ventilated area for water-based finishes$3,000
FacilityElectrical to 25 machines, LED lighting, Kisi door access, cameras, Fabman machine locks, safety gear, signs$51,180
ClassroomTables, stools, a whiteboard, and a kids’ tool set$6,000
Subtotal$137,000
TotalWith 6% for freight, rigging, and sales tax$145,000

Prices from vendor websites on September 22, 2026. Hand and portable tools, including a Festool Domino and a track saw, are already owned and contributed, worth about $10,000.

A shop floor with benches, machines, and overhead dust collection ducting

At opening: two SawStop table saws, a jointer and a planer, two bandsaws, a drum sander and three smaller sanders, a lathe, a drill press, a mortiser, a router table, two miter saws, twelve workbenches, assembly tables, and central dust collection.

A CNC router, a laser, and a second lathe follow once membership passes 85, month 7 in the base case, paid from the shop’s cash. A wide belt sander, a shaper, and a spray booth come later, as members ask for them.

How many members the space can hold

The 5,500-square-foot shop floor can hold about 210 members comfortably and about 350 at the absolute limit. The plan stops counting at 190, because that is about how fast a new shop can sell memberships. The real limit is the busy hours: weekday evenings and weekends.

Average hours each member spends in the shop a month

210members fit comfortably
190members in the plan

The model’s assumption: three or four visits of three to four hours each.

People on the floor on Saturdays, 9 a.m. to 3 p.m.Base case

At 190 members, the floor averages six or seven people on a weeknight and ten or eleven late on a Saturday morning. That is a busy shop with a bench for everyone.

A shop wall of clamps, hand tools, and labeled supplies, with a clock above the bench

Part 3 of 6 Team and operations

Who runs it and how does it run day to day?

  1. 07A small team would run the shop

A small team would run the shop

The payroll is one full-time salary and one part-time wage. The comparable shops in the research file that have lasted run on small teams like this. The plan depends most on hiring the right manager.

An experienced woodworker teaching two students at a bandsaw

Mike

Partner

Brand, marketing, website, technology, member systems, the operations manual, finances with the CPA, and vendor and insurance relationships. Runs marketing and websites for an existing local business, and owns the Ax & Blade wood brand. Contributes the hand tools.

Unpaid in the plan. Evenings and weekends, plus the presale and launch.

Lead investor

Partner and advisor

Brings some or all of the capital, and owns the building if they buy one. Spends as much or as little time in the shop as they like.

A share of the business and a key to the shop.

Shop manager

To hire, full time from April 2027

A carpenter, cabinetmaker, or experienced woodworker who can teach beginners patiently and keep a jointer tuned. Runs the floor, the machines, safety courses, machine training, and the apprenticeship.

$75,000 rising to $85,000 by year three, $50 for each membership sold, and a 5% share earned over four years.

Store lead

To hire, part time at opening

Runs the front desk and member lumber sales during business hours, then the retail counter in year two. Handles class sign-ups, kids’ program planning, supplies, and bookkeeping support.

About 24 hours a week at $20 an hour.

Outside instructors teach Saturday Builds, specialty classes, and some kids’ courses. They get 50% of tuition on adult classes and 30% on kids’ courses. A CPA, an attorney, an insurance broker, and an electrician are hired before the lease. If membership grows faster than planned, the first new hire is a second shop tech for evenings, paid for by the extra dues.

An older woodworker in an apron checking a part at his bench

Part 4 of 6 The numbers

What does it cost and what does it earn?

  1. 08What it costs and what it could earn
  2. 09$390,000, once, before opening

What it costs and what it could earn

In the base case, the shop opens on $390,000 and loses $41,400 in year one while membership grows from 50 founding members to 127. It earns $131,100 in year two with 175 members and $231,400 in year three with 190, a 32.2% margin.

Profit figures are operating profit: after paying the manager and the store lead, before equipment bought after opening, payouts to owners, and income taxes. Every figure comes from a 36-month model built on the assumptions at the end of this section.

Month 10April 2028
Paying members113
Cash on hand$30K

Drag the slider or either chart to move through the months.
Paying membersBreak-even at about 108
Cash on handStarts with a $94,500 reserve

Three forecasts

The number that moves every forecast is how many members join each month.

The presale tests that before any lease is signed.

Operating profit by year
Base case

Where year three’s $718,800 comes from

What the margin leaves out

Equipment bought after opening, about $13,000 a year once the shop is built out, brings the 32.2% margin to about 30%. Separately, the plan pays Mike nothing. If the shop paid him $60,000 plus payroll taxes, the margin would be about 23%. Each owner pays income taxes on their own share.

How it compares

Private equity firms that buy franchise brands typically look for margins of 15% to 20% at each location (VettedBiz, August 2026). In the base case, Bench Time runs above that range because membership dues keep about 95 cents of each dollar and Mike’s work is unpaid. With Mike paid, it would still sit a little above that range. The downside case keeps about 17 cents in year three, inside it.

Show the three-year forecast table
Base caseYear 1Year 2Year 3
Members at year end127175190
Membership dues$135,000$242,100$308,800
Storage, CNC and laser add-on, machine time, and safety course$27,400$38,700$43,000
Shop time by the hour$10,800$9,900$8,100
Adult classes after member discounts$45,800$66,600$83,300
Shop Class Jr.$15,400$41,100$51,300
The Apprenticeship$14,000$33,500$41,900
Team Builds and events$6,300$16,800$25,200
Lumber sales (members only in year one, retail from month 16)$40,000$105,000$144,000
Trailer events$13,200$13,200$13,200
Total revenue$307,900$566,900$718,800
Instructor pay($20,600)($35,600)($44,500)
Materials, event costs, and member perks($22,300)($35,100)($41,400)
Cost of lumber sold, with waste($28,000)($73,500)($100,800)
Card processing($9,200)($17,000)($21,600)
Revenue after direct costs$227,800$405,700$510,500
Rent for 7,500 sq ft at $10 a sq ft with costs($75,000)($75,000)($75,000)
Shop manager with payroll taxes and bonuses($89,900)($95,300)($99,800)
Part-time store lead($27,500)($27,500)($27,500)
Utilities, insurance, maintenance, software, marketing, cleaning, professional fees, and contingency($76,800)($76,800)($76,800)
Operating profit($41,400)$131,100$231,400
Operating margin(13.4%)23.1%32.2%
Equipment bought after opening from the shop’s cash($19,900)($53,000)($13,000)
Cash at year end, before payouts to owners$33,200$111,300$329,700

Revenue is shown before costs. Operating profit is after every cost of running the shop, before equipment bought after opening, payouts to owners, and income taxes.

Show the assumptions behind the model
InputAssumptionBasis
Space7,500 sq ft at $8.00 a sq ft, plus $2.00 for taxes, insurance, and shared costsListings and Q2 2026 market reports
Before openingA four-month build-out with two months rent-free plus a deposit, $17,500. Build-out work, $66,000. The manager’s first three months, $21,000. Utilities, $3,0002026 cost guides. A contractor’s bid replaces the build-out estimate before the lease is signed
Dues$99, $149, and $199 list prices, chosen by 25%, 45%, and 30% of members. $138 average after annual plans and $49 household add-ons. Founding members get $20 off for two yearsOther shops’ pricing. The presale will test the mix
Members50 at opening. The shop grows by 7 a month in year one, 4 in year two, and 2 in year three, after 3% of members cancel each month. Limit of 190The Joinery reached 100 members in two to three years
Storage and add-ons35% of First Shift and 30% of All Shifts members rent storage. 12% add CNC and laser access from month 7. Machine time of $100 per member a yearConservative guesses; other shops don’t publish these rates
Shop time by the hour40 hours a month in year one, 50 in months 13 to 16, then 30 once Saturdays close to hourly. $22.50 an hour on average after day ratesOur estimate
Adult classes4 a month at opening, rising to 10 by year three. Six seats, $120 average. Outside instructors teach two-thirds for 50% of tuitionClass sizes and prices at other shops
Shop Class Jr.60, 120, and 150 enrollments a year at $350. Instructors get 30% of tuition, and materials cost 10%Workbench Collective and Sawdust camp prices
The Apprenticeship4, 8, and 10 apprentices at $349 a month, taught by the managerSawdust Studios’ program, listed at $350
Team Builds1, 2, and 3 a month at $700. Materials and a second helper cost 20%Sawdust’s per-person prices for small groups
WoodMembers only in year one, at $40,000 of sales. The retail store opens in month 16 at $10,000 a month, growing to $12,000. The wood costs 65% of its price, plus 5% for waste and suppliesAn assumption to test with suppliers
Trailer22 events a year, May through December, at about $600 eachOur estimate
PayrollManager at $75,000, $80,000, and $85,000, starting three months before opening, plus 12% payroll taxes and a $50 bonus per membership sold. Store lead at 24 hours a week and $20 an hour, plus 10%BLS wage data for similar jobs in Wisconsin
Other fixed costsUtilities $18,000. Insurance $11,000. Maintenance $9,000 rising to $12,000. Software $6,000. Marketing $18,000, then $15,000. Cleaning $4,800. Professional fees $4,000. Contingency $6,000Vendor prices and other shops’ reported costs
FinancingNo bank loans. No payouts to owners in the forecast. Income taxes not included; the LLC passes its profit to its ownersSection 14 of the plan

$390,000, once, before opening

The plan asks for one raise. It doesn’t have to come from one person: a lead investor can fund all of it, or part of it, with other investors putting in the rest on the same terms. In the base case, the shop pays for Phase 2, the store, and later equipment from its own cash. In the downside case, it would need about $53,000 more.

The cut list

Where the $390,000 goes. Select a piece for details.

    The presale decides whether the money is spent

    Stop Extend a month Go 0 deposits 30 50

    The first 50 members get $20 off any plan for two years and hold their spot with a refundable deposit. Fifty deposits prove Lake Country will pay. Fewer than 30 after 60 days stops the plan before any equipment is bought.

    How the money is protected

    • Before the leaseFour answers come first: insurance quotes, zoning, the building, and presale demand.
    • 50 depositsThe lease, equipment, and build-out wait until 50 founding members have paid deposits.
    • 85 membersPhase 2, the CNC, laser, and lathe, waits for this and comes from the shop’s cash.
    • 140 membersThe retail store waits for this and four profitable months in a row, and comes from earnings.
    • Used machinesLarge machines are bought used, so they resell for close to what was paid. If the shop closed, the equipment would sell for 40% to 60% of what it cost.
    • About $30,000Even at its lowest point, in month 9, the base case keeps about $30,000 in the bank.

    Try an amount

    Pick how much and how it goes in. The figures scale the plan’s own example, so the rate of return is the same at any size.

    $390,000

    Option: own the building too

    An investor can buy a building of about 7,500 square feet through a separate real estate company and lease it to Bench Time at market rent. This is in addition to the $390,000 for the business, and it can be combined with a share.

    Building price
    About $750,000
    Down payment
    About $190,000
    Rent from Bench Time
    $60,000 a year
    Loan payments
    About $48,800
    Repair reserve
    $7,500
    Cash left in year one
    About $3,700
    Loan paid down in year one
    About $8,300
    Return on the down payment
    About 6%

    Before any rise in the building’s value. Rent at $8.00 a square foot, with Bench Time paying the taxes, insurance, and upkeep.

    What stays the same in every option

    • A key to 5,500 square feet of professional equipment, and first pick of the lumber and slabs in the store.
    • Income from a building or a business.
    • Monthly financial reports, a say in every major decision, and a buy-sell agreement that spells out what happens if any owner wants out.

    The building is the safer half. A 7,500-square-foot industrial building in a county with about 2% vacancy can find a new tenant within months. The business is the half with more upside: at 190 members, the shop would earn about $231,000 a year with no debt in the base case.

    Two questions for the first meeting with the attorney

    Who owns the brand, the manuals, and the classes. If the business owns them, everyone who invests in the first shop shares in any franchise company built on them. If a separate company owns them, the business licenses them, and the owners of that company get the franchise upside. Either can work, but the answer should be written down before any money goes in.

    Whether investors in the first shop get the first chance to invest in a second shop or a franchise company. Neither question changes the first shop’s plan or numbers.

    This section is an example for discussion. It is not tax, legal, or investment advice. A CPA and an attorney should set up the companies, the lease between them, the operating agreement, and the buy-sell terms, and confirm current mortgage and SBA loan terms before anything is signed.

    Two woodworkers in aprons marking and cutting boards at a long bench

    Part 5 of 6 Risks and timeline

    What could go wrong and what happens first?

    1. 10What could go wrong, and how the plan handles it
    2. 11From forming the company to opening day

    What could go wrong, and how the plan handles it

    The shops that closed ran out of cash while waiting for members. The Mill in Minneapolis closed after 14 months with 90 members, and TechShop’s bankruptcy filing said none of its locations had made money consistently. This plan is built around that lesson.

    Sell memberships before spending. Buy used. Keep a reserve. Let membership targets decide each purchase.

    Members come slower than plannedThe presale decides whether the shop opens at all.

    What happened elsewhere

    The Mill never reached enough members. The downside case here loses $109,900 in year one.

    How the plan handles it

    The shop goes at 50 deposits, stops below 30 after 60 days, and extends a month in between. Phase 2 waits for 85 members and the store for 140. In the downside case, the shop would need about $53,000 more, so a presale near the stop line is the signal to raise it before opening.

    Lake Country won’t pay $149 when $40 makerspaces existA $99 daytime plan, and features the $40 spaces don’t offer.

    What happened elsewhere

    The Woodworker’s Gym charged $200 and closed. The Joinery fills up at $95.

    How the plan handles it

    24/7 access, storage, finishing, a CNC, and classes that the $40 spaces don’t offer. If every plan had to drop $20, the shop would still break even at about 121 members.

    Members finish a project and quitClasses, storage, and a cancellation count watched from month one.

    What happened elsewhere

    TechShop’s post-mortem said, “once people had accomplished their goals, that’s it.”

    How the plan handles it

    The class calendar, the apprenticeship, storage that keeps members’ lumber in the building, prepay discounts, and a monthly cancellation count. If more than 4% of members cancel each month, the shop would replace about half its members every year, so that number is watched from the start.

    A serious injurySawStops on every table saw and a lock on every major machine.

    What happened elsewhere

    The CPSC counts about 2,800 table saw amputations a year in the U.S. The Wisconsin Supreme Court has thrown out every liability waiver it has reviewed in 25 years.

    How the plan handles it

    No testing out of the safety course, written training records, a $2 million to $3 million umbrella policy, parent waivers, and kids only during staffed hours. Waivers teach members the risks and help settle claims. The plan doesn’t rely on them for protection.

    Insurance is refused or too expensiveQuotes in hand before any lease is signed.

    What happened elsewhere

    Six insurers declined to quote Dallas Makerspace.

    How the plan handles it

    Quotes from brokers who insure manufacturers and trade schools. An alarm and cameras. Water-based finishes only until a code-compliant spray booth makes sense. The model budgets $11,000 a year, more than the $7,000 Makerspace Blueprint reported for basic coverage.

    The village denies or delays approvalZoning is confirmed before the lease.

    What happened elsewhere

    Hartland’s code has no makerspace category, so the village planner will decide.

    How the plan handles it

    Call the planner first. Prefer business-park zoning, where training centers are allowed. Budget 90 days for a conditional use permit. Each month of delay after a lease is signed would cost about $6,300 in rent.

    Costs rise faster than duesDues rise with inflation each January.

    What happened elsewhere

    Waukesha County rents rose 6.4% in a year. Dallas Makerspace raised dues because of rent, utilities, and insurance.

    How the plan handles it

    A five-year lease with capped increases, or an investor owns the building and leases it to the business at an agreed rent.

    The manager leaves or is the wrong hirePay, a bonus, and a share that reward staying, and a written manual.

    What happened elsewhere

    Owner-run shops depend on one person.

    How the plan handles it

    Pay that rises to about the Wisconsin median for construction supervisors by year three, a bonus for every membership sold, and a 5% share earned over four years. A 90-day review. The safety course and machine settings written down from day one, with Mike as the backup instructor on evenings and weekends.

    The wood business underperformsMembers only until membership is established.

    What happened elsewhere

    A new store roughly covers its space and staff at $200,000 of sales.

    How the plan handles it

    The retail store opens in year two with $35,000 from the shop’s earnings. The sawmill is optional, and it is built only if the store proves the demand and the space pays for itself.

    Equipment spending gets ahead of membershipNo bank loans, and $145,000 of equipment to open.

    What happened elsewhere

    TechShop carried $1.4 million of tools per location.

    How the plan handles it

    Everything after opening is paid from the shop’s cash, and only after it reaches a membership target.

    Franchising pulls attention from the first shopNo franchise work until five steps are met.

    What happened elsewhere

    TechShop carried $1.4 million of tools and a professional staff at each of its ten locations and closed all of them in 2017.

    How the plan handles it

    The first shop has to stand on its own numbers before any franchise is offered.

    Dull blades and a Wisconsin winterMaintenance in the budget, and a summer opening.

    What happened elsewhere

    Woodworker’s Journal readers named poor maintenance as the reason they left makerspaces. Nobody signs up for an unfinished shop in February.

    How the plan handles it

    Maintenance is in the budget and in the manager’s job from day one. The shop opens in summer, complete and running before the first winter, when cold garages push people indoors.

    Two woodworkers in aprons cutting a live-edge board on a SawStop table saw

    Training and SawStop saws are how the shop manages liability. A Wisconsin attorney still drafts the membership agreement and separate adult and parent waivers, written for this activity.

    From forming the company to opening day

    It takes about nine months. The dates below are one example. They assume a start in October 2026 and an opening in the first week of July 2027, so the shop is running before its first full winter, when garages are cold and members are easiest to find.

    1. October 2026
      CPA and attorney hired. LLCs formed. Insurance quotes in hand.
    2. October to November 2026
      Calls to the village planners in Hartland, Pewaukee, Menomonee Falls, and Sussex. Tours of the best buildings, including ones with room for a yard. A letter of intent on the top choice.
      Zoning confirmed
    3. November 2026 to January 2027
      Founding-member presale, with $20 off any plan for two years. Commitments for the opening money. Website, booking, and safety course calendar live. Video filming begins.
      Go at 50 deposits Stop below 30
    4. February 2027
      Lease negotiated. Electrical, dust collection, and door access designed.
    5. March 2027
      Lease signed or building bought.
    6. March to May 2027
      Build-out: machine wiring, ducting, benches built in-house, the classroom, the restrooms, and the lumber room. Used machines bought at auction. New SawStop and Laguna machines ordered.
    7. April 2027
      Shop manager hired, three months before opening. Trailer bought, wrapped, and fitted out.
    8. May and June 2027
      The branded trailer at farmers markets and festivals, signing up members for opening day.
    9. June 2027
      Safety Shop Courses for founding members. Shop Talk open house. First Saturday Builds. Lumber room stocked for members.
    10. July 2027
      Opening. Shop Class Jr. summer camps. First apprenticeship group. Hourly shop time opens.
    11. Fall 2027 to spring 2028
      School programs: field trips and after-school courses with the first two districts. Homeschool groups. School programs and homeschool groups are extra upside, not in the forecast.
    12. January 2028, month 7
      Phase 2 in the base case: CNC router, laser, and a second lathe, paid from the shop’s cash. CNC and laser access goes on sale.
      85 members
    13. October 2028, month 16
      The retail lumber and slab store opens to the public, paid for from the shop’s earnings.
      140 members and positive cash flow
    14. October 2029 or later
      Decision on the optional sawmill and kiln, which is not in the forecast.
      The mill’s three tests
    15. July 2030 and later
      A second company-owned shop, opened using the operations manual. A franchise decision once the five steps below are met.
      Steps met
    A young woodworker using a drill press while adults work at benches nearby

    Part 6 of 6 Future opportunity

    What could this become?

    1. 12Built to be copied
    2. 13Talk with Mike

    Built to be copied

    Bench Time opens as one shop, and the first job is to make that shop work. Every system is written down from day one, so a second shop or a franchise can follow once the numbers are proven. None of this is in the financial forecast.

    Anytime Fitness5,196 gyms

    In 50 countries by 2023, built on a gym members can use at any hour. Founded in 2002 in Cambridge, Minnesota.

    Board & BrushAbout 250 studios

    Hands-on wood projects. The first studio opened in downtown Hartland in 2015.

    Woodcraft66 franchised stores

    Woodworking stores with classes, franchising since 1997.

    We found no franchised membership woodshop in the U.S. that combines 24/7 member access, classes, kids’ programs, and lumber.

    Franchising comes only after proof

    The plan sets five steps before any franchise is offered. In the base case, the earliest franchise decision comes in year four, starting in July 2030. The idea may also work better as a small group of shops in Wisconsin than as a franchise, and that would be a good outcome too.

    1. The first shop reaches the base case, about 190 members and about $200,000 of operating profit, and holds it for a full year.
    2. A second shop opens in another market using the manual, run by a manager trained from it, and breaks even on a similar timeline.
    3. Two years of audited financial statements.
    4. A clean safety and insurance record.
    5. A registered trademark.

    What the business could sell for

    Buyers price a business as a multiple of its yearly profit before interest, taxes, and depreciation, which they call EBITDA. For Bench Time, that is close to what this plan calls operating profit. The figures below use what buyers paid in 2025 and 2026. They are examples, not forecasts.

    The first shop on its ownAbout $590,000 to $625,000

    At $231,000 of operating profit. Gyms and fitness centers sold for 2.55 times owner earnings from 2021 to 2025, and small businesses for an average of 2.7 times cash flow in the second quarter of 2026.

    Buyer: a local owner-operator, often with an SBA loan. BizBuySell.
    A group of four shopsAbout $3.3 million to $5 million

    Four shops earning about $825,000 together, after $100,000 of shared costs, at 4 to 6 times EBITDA.

    Buyer: a private equity firm or a larger operator. Parkland Capital Partners, 2026.
    A franchise companyAbout $27 million to $30 million

    About 100 franchised shops at mature sales after about five years, earning about $3 million after about $2 million a year of support costs, at 9 to 10 times. The value depends on how many shops have reached mature sales. If many open in year five, year-five EBITDA would be closer to $1.2 million.

    Buyer: a private equity firm. Parkland Capital Partners and Lopes Law, 2026.
    About $719,000 of sales at the first shop in year three, base caseAbout $50,000 a year in royalties from a franchised shop at that level, at 7%About $167,000 of operating profit kept by its owner, before loan payments and taxes

    Examples of how the model works, not forecasts.

    The pitch in one paragraph

    262,000 people live within 25 minutes of Hartland, and there is no membership woodshop. The one shop that tried charged $200 for limited hours. Bench Time is $149 a month for a key that works at 6 a.m. or 11 p.m., with wood on the rack and a class for your kid on Saturday.

    The short version of the pitch, from the plan.

    Sources

    Every price, listing, and statistic in this overview comes from the source cited, checked in September 2026. Figures that couldn’t be confirmed are labeled as assumptions in the model. They are the first things to test.

    Market and demand. NEA Survey of Public Participation in the Arts, 2022. Gallup, AI use at work, 2025. Pew Research Center, workers and AI, February 2025. World Economic Forum, Future of Jobs Report 2025. BLS American Time Use Survey, 2025. U.S. Surgeon General, advisory on social connection, 2023. National Student Clearinghouse, spring 2025 enrollment. Make: makerspace directory, 2024. Census QuickFacts for Waukesha County and each town.

    Comparable shops. Sawdust Studios and its coverage in the Columbia Missourian (2020) and Columbia Business Times (2025). Philadelphia Woodworks. Workbench RVA. Workbench Collective. Community Woodshop SLC. The Manufactory. The Joinery. Members Workshop. Grand Inspired. Asmbly. Maker Works. Dallas Makerspace. Artisan’s Asylum. ProPublica Nonprofit Explorer. TechShop’s closing in Forbes and Hackaday. The Artisan’s Asylum planning series in Make:.

    Local competition. Waukesha Makerspace. Milwaukee Makerspace. Wisconsin Woodworkers Guild. Rockler Brookfield classes. Woodcraft of Milwaukee. The Woodworker’s Gym (Woodworking Network, 2016). The Bodgery and Isthmus. The Wood Station Co-Op closing (Oconomowoc Enterprise).

    Real estate. Cushman & Wakefield Milwaukee Industrial MarketBeat, Q2 2026. Judson Market Trends, Q2 2026. Paradigm Waukesha County update, Q1 2026. Listings on Showcase, CommercialCafe, and CityFeet. Waukesha County 2025 tax rates. We Energies 2026 electric rates. Hartland zoning code, chapter 46. Cauble Group on tenant improvement allowances, July 2026. Morton Buildings pricing. BuildingsGuide steel building prices, February 2026.

    Build-out. HomeGuide, partition wall costs, 2026. Terrapin, commercial drywall costs, 2026. OfficeFinder, commercial overhead door prices, 2026. DGR Construction, commercial restroom costs, 2026. City of Waukesha, commercial building permits.

    Equipment. SawStop, Powermatic, Laguna, Grizzly (via US Tool Depot), Oneida, Avid CNC, ShopSabre, Thunder Laser, Kisi, Fabman, Wood-Mizer, Nyle, paint-booths.com, and IRS Auctions. Carbide 3D. Woodcraft. Rockler.

    Trailer. UtilityTrailersToday listings from Wisconsin dealers, September 2026. Hunt’s Custom Cargo. Road Rage Designs, “Trailer wrap cost 2026.”

    Team, operations, and law. O*NET Wisconsin wages, 2025. CPSC table saw rulemaking, 2023. State Bar of Wisconsin on liability waivers. Wisconsin DWD on workers’ compensation. Wis. Adm. Code Tax 11.65 and DOR Publication 201. Wisconsin DFI fees. 2023 Wisconsin Act 12. Makerspace Blueprint on insurance. Dallas Makerspace insurance notes.

    Franchising and selling a business. FTC Franchise Rule, 16 CFR Part 436. Wisconsin DFI franchise registration. Drumm Law, December 27, 2023. Woodcraft franchise program. TMJ4, May 9, 2017. Sharpsheets, Board & Brush franchise costs. Wikipedia, Anytime Fitness. BizBuySell Insight Report, Q2 2026. BizBuySell valuation benchmarks for gyms and fitness centers, 2021 to 2025. Parkland Capital Partners. Lopes Law, March 13, 2026. Kaufmann Gildin & Robbins, July 24, 2026. VettedBiz, August 7, 2026.

    The model. A 36-month, month-by-month calculation. It will be rerun once the presale count, the rent and lease terms, and the insurance quotes are known.