A good answer is that you could set one up for 15 people. But if space is an issue, you could probably add a number of tables, benches, and so on. The main factor to consider is that your shop is smaller than the area the room you’re creating. (And yes, your space will have to be small in order to use a work bench.)
What’s the cost of a wooden shop? This is going to depend on a lot of things. One of the main reasons woodworkers spend a lot of money is that they don’t have a lot of choice when it comes to size and price. However, it would take a lot of time and money to find a woodworker who will work for you, would give you quality work, and might even offer a discount. So you’ll have to figure out what’s fair value (the amount you’d save with your woodworker), what makes sense (the amount you would pay in rental costs to get the same work done), and what you can reasonably expect to get in return from your woodworker. Some people have found the best results by buying small quantities of pieces and reselling them in bulk. This isn’t always possible. For example, some woodworkers can only use the back of a large machine; there can be no other room available.
Is buying a wood shop a wise investment? The answer depends on how you view an investment (if it isn’t the time or money one needs to be doing something else). Are you investing in your own time, or someone else’s? If you’re just working in the shop, it sounds like a good value. If working part-time (rather than full-time since you’re setting up a shop), consider the following things: You could easily increase the cost of the wood by buying more lumber. Lumber is more expensive than woodwork.
You might find that you might save money by doing a “full” workshop, which includes some plywood.
You can save more money by buying some furniture that will be used at the shop.
Are there other things you’d like done in the wood shop? When you’re shopping and looking for your woodworker, you may come across someone who will help with your shop by doing other things. For example, you can ask about woodworking or other tools at work or hobbies.
Can you afford to buy expensive lumber as much as you’d like? Some people might think that you can afford expensive lumber by spending tens
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