Section I: The Business Basic Museum Information The Northern Michigan Children’s Museum (NMCM) is a newly-created 501 (c) (3) organization with the mission to bring both a cultural and an academic form of recreation to this geographic area. The museum failed to collect any new memorabilia in the past six months. To deliver its vision, Southend Museums are developing a revised business model. Museum as business model by Andrew Taylor Tuesday, August 23, 2011. The business model that governs all business is to make profit for the owners of the company for as long as possible. It illustrates what the business does, for and with whom, the resources it needs to do that and how money flows in and out of the business. It … A revised business model. The museum also does not have a security personnel to roam the premises on Sundays. The Business Model Canvas is a visual framework for describing the different elements of how a business works. I don’t expect every museum of the future to be like the one described here, but for those willing to invest in designing a better business model for museums — the rewards are waiting. The goals of the museum are as follows: 1. Opportunities A number of investors are looking at the museum for investment opportunities, in exchange for 20–30% share of the museum business. A museum can control the quality band of its exhibitions over time--when you acquire a Vermeer or a Rothko, you lock in quality. The Royal Ontario Museum Foundation, which operates under the business name ROM Governors, was incorporated under the Corporations Act (Ontario) on July 1, 1992, to coordinate all private-sector fundraising activities undertaken on behalf of the Royal Ontario Museum and its affiliates. When creating a business model, select key partners, like suppliers, strategic alliances or advertising partners. It seeks to define the new museum’s competitive advantage and the value it will offer to audiences when faced with choices on how to spend their time. In the endless search for evocative metaphors for business management, arts organizations seem to provide popular fodder. 001 Museum Business Model Canvas - Free download as PDF File (.pdf), Text File (.txt) or view presentation slides online. Museum Business Model Canvas Museum Planning Template from for upcoming book Museum CX: Understanding and Connecting with Museum Visitors by Mark Walhimer 2018 First uploaded December 2, 2017 The best fund raising tools I know of starting a museum:; a preview facility, an icon (The Discovery Science Center Cube, The world’s largest Brachiosaurus at the Children’s Museum of Indianapolis), and a museum preview booklet (including architectural illustrations and exhibition illustrations). My view as a long-standing museum trustee is that definition of the business model needs to proceed from the institution's mission (and vision). This post raises many important questions about viable museum business models, and implies that (almost) "everything in on the table" for potential outsourcing (and perhaps insourcing as well).