Industry Analysis & Industry Trends
The Art Galleries and Museums industry operates in a highly competitive environment, competing against other leisure, sporting and entertainment industries for its share of consumer expenditure and government grants and funding. In this environment, new, visually exciting, imaginative and interactive educational displays and special exhibitions have been developed in order for the industry to attract new visitors and retain existing ones. Art galleries and museums, therefore, have to continue to re-invent and re-position themselves to attract interest and draw in visitors, particularly as competing industries continue to undertake similar programs to increase patronage and revenue... purchase to read more
Industry Report - Starting a New Business Chapter
Entry barriers to an industry are factors that may prevent or limit a new operator from entering the industry. Key factors used to assess the barriers to entry include economies of scale, capital intensity and access to government grants. Overall, barriers to entry are lower for smaller-size establishments in the industry, but barriers increase in terms of obtaining ongoing funding commitments from the government and businesses, due to the dominance of the larger operators.
The main barrier to entry relates to the ability and cost in acquiring a collection worthy of display of significant public interest... purchase to read more