Custom Template's

When a custom template is created, does that board need to stay on the main workspace?

If not, how do I save it?

hi @PeggySue

Welcome to the community.
You can save any board as a template as long as it is a of type “Main” and its permissions are set to “Edit everything”. The boards position (in which workplace) is not related to its type. You can move your template board to any workspace you want.

Thank you! Can this board be archived or does it need to stay “open” in order for it to be accessed?

I don’t think you can archive a template if you want to still use it. Archiving removes the board from your board list and I am not sure this will work.