A fold-out cabinet includes a folding back panel that is pivotably attached to side panels so that the back panel can be sandwiched at least partially between the side panels when in a folded configuration. When unfolded, top and bottom panels are attached to complete the cabinet structure. The fold-out cabinet can be rapidly assembled and takes up a minimal footprint when packaged for storage, shipping or merchandising. Optional accessories may be included with the cabinet, including a workbench type top surface, one or more shelves, one or more drawers, and one or more doors. When assembled, the cabinet is structurally stable and functional, but requires little time for complete assembly.