The development of a business case (work conducting with RGA/GVA) for the front of house extension of Theatre Royal Glasgow and a demonstrable case to secure the money for the £9.6 million development (with monies already secured from the Scottish Government).
Inputs included developing an understanding of:
- Theatre Royal as a driver of financial returns beyond just bar profits (including running Front of House during the day;
- the market opportunity for Theatre Royal a “third place” and the potential financial gains from it;
- developing key elements towards a new business model for the new Front of House;
- preparing a business case for Scottish Opera to present to investors.
How
I managed the development of:
- a comparative dossier outlining examples of relevant and successful business models for theatres, arts centre and other major urban arts institutions across the UK and Europe;
- an overview of Glasgow’s creative and cultural offer – key institutions, organisations, individuals – and its impact on Glasgow’s economy.
- a feasibility study demonstrating the business opportunity for Theatre Royal as a daytime economy destination plus a series of recommendations for the use of its space from retail and pop-up space for local creative companies to an all-day independent coffee shop destination;
- establishing relationships with key cultural decision makers across the city.
Results
- Development of an investment-ready business model proposal (currently in negotiation to secure the remaining finance required to begin work on the front-of-house extension) leading to:
- opportunities to meet with potential independent food and coffee retailers to manage the Front of House during the daytime)
- putting Theatre Royal on a surer footing in terms of developing future opportunities.
Proposed Revamp.
