Re: Classic rail museum problem? Sustainable business plans for the future?
Author: RVJ Inmate
Date: 10-10-2020 - 09:58
BOB2 Wrote:
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> Aging equipment needs to be preserved and
> maintained and that takes both the skillset and
> money, which requires business plans that can
> create revenue streams from "fares" for visiting,
> riding trains, and other "venue" revenue sources,
> from corporate/business sponsorships, marketing
> opportunities, and donations, and from public or
> private grants. And this, might make a case for
> why many museums might benefit from good
> professional help with the skillset to develop and
> carry out such sustainable business plans.
>
> Failure to deal with these realities, and to
> prepare for these museums and collections for that
> inevitable future, will doom some of these
> organizations, and leave plenty of Merrill Oregon
> scrap piles...
In addition to maintaining the collection (equipment and archives), infrastructure maintenance and replacement must be in the business plan. Things like air conditioners do wear out, and their replacement should be in the budget to prevent unpleasant budget crises. For example, if the air conditioner will need replacement 30 years in the future, add 1/30th of estimated replacement cost to each year's budget in a dedicated account.
Condominiums are required to do this, and it works pretty well.