Theatre business plan?
Hi, was wondering if anyone could help me? I'm helping to put together a theatre business plan (small scale theatre, registered charity) in anticipation of fundraising and was wondering if it was essentially the same as any other business plan? Thanks!
2 Answers
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Hi Suzie,
It will be essentially the same but you need to bear in mind your charitable status and how funds are to spent, invested etc. You might find our resources for social enterprises useful. In particular the assessment tools which will help you define the best legal/statutory structure for the business.
Phin
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Suzie,
You pose a really, really good question. I think the key to the answer is whether the theatre (which is likely to have a charitable status) is a social enterprise?
Definition of a Social Enterprise:
"A profit-making business set up to tackle a social or environmental need."
(from What is a Social Enterprise?)
If you think that the theatre matches this definition, then I think your ability to approach donors is enhanced if, operationally, the theatre is run with a for-profit approach, even if losses are incurred in any financial year. In which case, I suggest that a theatre business plan is very similar to any other business plan, except that its motivation is not only profitability, but social or artistic good.
Do take a look at some of the excellent resources that we have assembled for Social Enterprises.
In order to write a business plan, the General Business Viability Assessment asks you the tough questions which will make writing a business plan MUCH easier.
Best wishes (and do edit your profile to link to your theatre as well - you never know there may be a theatre philanthropist reading this forum)!
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