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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:
- Cover Letter: Outline your interest in the project and summarize your relevant experience.
- Professional Resume or CV: Highlighting relevant qualifications and previous projects.
- Detailed Proposal: Describe your approach to the scope of work, including methodologies, timelines, and any innovative strategies you plan to employ.
- References: Provide at least three professional references from similar projects.
- 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.