My brother in law just bought a new house and ha a full panel and is planning on building a pole barn for his woodworking...the home inspector said the best route is to have a separate meter since this would possibly for income..is there a better way?
Better check with the POCO about separate meters. They have a minimum monthly charge and if it is for a company then you get (typically) more expensive rates.
First, what size is the feed to the house and what size is the current panel ? Modern houses typically are 200A, but older houses could be 100-150A. Check the main breaker.
Second, how much current will he need in the barn ? 60A is usually plenty for any 1 man operation either woodworking or metal working.
Third, how old is the panel in the house and are tandem breakers available. The least expensive solution is buy a couple of tandem breakers. This will free up 2 slots for a the pole barn.
Last, you can always upgrade the panel in the house to one with more slots, although this may require a larger feed from the POCO.