You don't need a lot of space for this composting system, you can even keep it indoors, as there is no smell at all.
It is a completely natural system, I use the bokashi tea as an activator for my normal compost pile, and it is also useful if you have septic tanks, you can put it down the sink, and it is a great way to unblock drains.
The bokashi tea, is basically the EM (effective microbes) culture, and it can be used to start another bokashi unit.