Welcome to Your Profitable Non-Profit. This column explores remarkable ideas that leading non-profit organizations are using to increase their income. Each column will share a successful funding concept, plus adaptations for your use. Today you will learn about several small but profitable improvements, made by Bok Tower Gardens, which tripled revenue and gate at the Pinewood Estate attraction even during the recession.
Besides wonderful meandering gardens and a singing tower to enjoy, Bok Tower Gardens, located in Lake Wales, Florida, owns Pinewood Estate. The Estate is a 12,000 foot 1929 mansion. Historically, the Gardens offered daily tours at specific hours. Interested guests paid an extra fee inside the Visitor Center before a docent guided them through the Estate.
As you can imagine, the Gardens found that keeping a large, historic estate in tip-top shape was pricy. For several years, staff and board members explored how to increase income and visitors to this interesting attraction before they instituted two minor changes:
In three years, Pinewood Estate tripled its revenue and attendance. What else? Jennifer Beam, Director of Visitor Services and Programs, shares, “Pinewood Estate is now a regular part of the Bok Tower Gardens experience, rather than a step-child.”
With two reversible changes that cost less than $2,000, Bok Tower Gardens substantially improved their funding. This means of increasing income is a category our consulting firm identifies as, “Improve Your Process.” To tap into similar opportunities, examine what you currently do. Then, make adjustments. Measure how they impact the amount of income you earn.
Your Profitable Non-Profit Opportunity
How else can you learn from and adapt Bok Tower Gardens’ success? First, believe that you have options, and that it is possible that small, medium, or large changes hold the potential to earn new funding. Then, consider these options:
1. Study, With An Attitude. Ponder and study your setting and current processes. Ask questions like:
2. Space Design. Bok Tower Gardens reminds us that space impacts dollars earned. By adding a combo option for the Estate at the Front Gate, guests had the opportunity to pay once. For out-of-town visitors who had just finished a considerable drive, the value of electing to add the Estate to their visit was readily apparent. What space change might trigger funding increases for you?
3. Combine and Profit. If you charge more than one admission fee, explore a combo ticket. Even though the Gardens did not, contemplate offering a discount on this ticket.
4. Divide and Profit. Take the opposite approach. Contrary to the Bok Tower Gardens example of offering a combo option, if you now charge only one fee, consider offering separate options. Visitors from afar may prefer not to do it all, especially those arriving late in the day. Would an “un-combo” work at your non-profit organization?
5. Shop and Learn. Don’t just shop at other successful museums and retail establishments. Instead, observe as you shop. What kind of customer experience do they offer? How might you adapt or tweak their process for your non-profit organization? To further study your retail experiences, listen to Podcast #8 with Retail Sales Consultant, Doug Fleener.
Every day, good non-profit organizations find ways to improve their funding streams. One way to improve your income is to tweak a process, like Bok Tower Gardens did. Even if their model fails to fit your needs, consider new options so you too can become a profitable non-profit.
Our next column is about Zoobilee. Can’t wait? Visit Karen’s website today to read about the seven sources of non-profit income.