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Request for Proposals
Financial Sustainability Consultant

Financial Sustainability Consultant
Near North Makerspace Project
Location: North Bay, Ontario

Issue Date: December 29, 2025
Submission Deadline: February 17, 2025

 

Contract Terms and Budget

Duration: 8 weeks
Timeline: The project should be completed between March and April 2025.
Contract: $10,000 – $12,000

Introduction

Near North Mobile Media Lab is seeking a qualified Consultant to assist in developing a comprehensive range of business cases and strategies for our Makerspace to secure a sustainable business model.

Located in a 2,000 sq ft storefront on Main St in North Bay, the project aims to become a hub for artistic collaboration, innovation, and community engagement. The consultant will work closely with our team over a 15-week period to explore diversified revenue streams, innovative business models—including cooperative and membership models—and revenue generating opportunities to ensure long-term financial stability and growth.

 

Project Background

The Makerspace Project is a collaborative initiative designed to:

  • Expand Programming: Enable partner organizations to broaden their own programming.
  • Provide Access: Offer other groups and individual artists access to much-needed studio space.
  • Foster Development: Create opportunities for arts training programming and professional development.
  • Promote Inclusivity: Ensure that anyone can benefit, regardless of their arts education, background, or abilities.

We are committed to making the Makerspace a vibrant community asset that supports artists and creative individuals, and promotes connections within the creative sector. To achieve this, we recognize the need for a robust financial strategy that leverages our prime location and aligns with our mission.

Scope of Work

The selected consultant will be responsible for:

Financial Analysis:

  • Assess the potential of the 2,000 sq ft storefront as a revenue-generating asset.
  • Evaluate operational costs and pricing strategies for space utilization.
  • Develop financial projections for various business models over the next 3-5 years.

Business Model Development:

  • Cooperative Models: Explore the feasibility of establishing a cooperative structure involving artists, organizations, and community members.
  • Membership Models: Design tiered membership options that offer different levels of access and benefits.
  • Rental Opportunities: Identify strategies to maximize rental income from studio spaces, workshops, and event hosting.

Diversified Revenue Streams:

  • Identify and recommend additional revenue sources such as retail sales, sponsorships, partnerships, and educational programs.
  • Analyze market trends to position the Makerspace competitively within the community.

Fundraising Strategies:

  • Develop a comprehensive fundraising plan, including grants, donations, crowdfunding, and corporate sponsorships.
  • Advise on strategies to attract potential funders.

Reaching New Markets:

  • Propose strategies to engage: local artists, organizations, community groups that are not currently involved, but could be a potential market including community groups serving people with diverse lived experiences (e.g. youth, older people, people with disabilities, newcomers, etc)

Reporting and Recommendations:

  • Prepare detailed reports outlining findings, analyses, and actionable recommendations.
  • Present findings to the organization’s leadership and stakeholders.

Deliverables

  • Week 2: Initial Assessment Report, including preliminary financial analysis and potential business models.
  • Week 4: Draft Business Model Proposals, outlining cooperative and membership structures.
  • Week 6: Fundraising and Revenue Diversification Plan.
  • Week 8: Final Comprehensive Report, integrating all findings, assessments, and recommendations.
  • Final Presentation: Present the comprehensive report to the leadership team and stakeholders.

 

Qualifications

  • Proven experience in financial consulting, particularly in the arts, non-profit, or community development sectors.
  • Experience in doing market research and market development work
  • Demonstrated success in developing sustainable business models and fundraising strategies.
  • Familiarity with cooperative and membership-based organizational structures.
  • Strong understanding of real estate utilization, especially in creative spaces.
  • Excellent analytical, communication, and presentation skills.
  • Ability to work collaboratively with diverse teams and stakeholders.

Proposal Submission Requirements

Interested consultants should submit the following:

  1. Cover Letter: Outline your interest in the project and summarize your relevant experience.
  2. Professional Resume or CV: Highlighting relevant qualifications and previous projects.
  3. Detailed Proposal: Describe your approach to the scope of work, including methodologies, timelines, and any innovative strategies you plan to employ.
  4. References: Provide at least three professional references from similar projects.
  5. Work Samples: Include examples of previous work such as reports, business plans, or case studies relevant to this project.

 

Evaluation Criteria

Proposals will be evaluated based on:

  • Relevant Experience and Expertise: Demonstrated ability to perform the tasks outlined.
  • Understanding of Project Objectives: Clear grasp of the Makerspace Project’s goals and challenges.
  • Quality of Proposal: Clarity, completeness, and feasibility of the proposed approach.
  • Innovative Thinking: Ability to provide creative solutions and strategies.
  • References and Past Performance: Positive feedback from previous clients or employers.
  • Value for Money: Cost-effectiveness of the proposal in relation to the services offered.

Submission Deadline

All proposals must be submitted by February 17 to:

Submit proposals by [Submission Deadline] to:
Sharon Switzer, Executive Director, Near North Mobile Media Lab
[email protected]
705-476-6402

Interviews for shortlisted proposals will be held February 20 and 21, 2025.