Finance

Museums can be prosperous whether their turnover is several million or a few thousand pounds a year. But whatever the scale of your organisation, some key principles apply. Prosperous museums have a diversity of income sources, manage their assets well and have a sound business plan.

In particular, it is important for all leaders in organisations – including trustees –  to know what drives the business model so that they focus their attention in the right place, and can tell a compelling story about how their approach to financial management enables them to fulfil their purpose.

In prospering museums, good financial management and the organisation’s core purpose don’t sit in separate boxes, looked after by different people, but are woven together, the warp and weft of the museum’s fabric.

This video from the Association for Cultural Enterprises explains the role of retail in the heritage sector, plus offers top tips on Visual Merchandising and how your site’s collection can inspire your product range. Download accompanying fact sheets here: ACE Training Resources

Case Studies
Ditchling Museum of Art and Craft: Finance
Ditchling Museum of Art and Craft: Finance

Ditchling Museum of Art and Craft is using a Hallmark grant to investigate new business models to put it on a sustainable footing for the future

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