Business Planning for New Performing Arts Facilities
Based on information gathered during the Needs
Assessment and Market Study step, Artec is often commissioned
to develop a business plan for the operations of the future facility.
A key part of determining the right combination of spaces to be
developed, the Business Plan usually includes operations and governance
planning, pro-forma artistic programming (and the incorporation
of the artistic activities of any resident companies), and pro-forma
operations cost estimates. Sometimes, it also includes an economic
impact analysis and fundraising analysis (ranging, as appropriate,
from private sector fundraising to government funding mechanisms).
Artec recommends that the development of this
document should be undertaken during the Pre-Design
Phase, as sometimes, the contents of the document can lead to
changes in the Facility
Description Document. Artec works closely with the Client to
determine the right balance between construction cost, and projected
operations costs, in view of the specific needs and ambitions of
Artec provides these services in collaboration
with Strategic Partners.