When they hit the scene back in 2006, the TechShop business model had everything going for it: a fitness gym-like membership program for the use of manufacturing and other shop equipment.
For many urban-dwelling designers or engineers, the wide open shop floors provided a haven to work on weekend projects and use industrial machinery. For educators and parents attempting to introduce children to STEM skills, the friendly facility became an indispensable classroom.
Sadly, the business model proved to be unprofitable for those involved, and today, TechShop CEO Jim Newton announced that all TechShop locations are closing immediately. Anybody with existing memberships to the company is instructed to email the trustee handling the bankruptcy process (email@example.com).
“I’m very proud of what my team and I did to build TechShop,” says Newton. “I’m very sad that we were not able to make TechShop into a sustainable business. It is my prayer that each of the people we touched will take those little sparks they received while they worked on their dreams at TechShop, and turn them into their own grand experiment.”
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