Ironbridge Gorge Museum Trust – Business Model Case Study
Discover how Ironbridge Gorge Museum Trust is future proofing the story of the Industrial Revolution by trying new things, being flexible and taking calculated risks.
Introducing Ironbridge Gorge Museum Trust
Ironbridge Gorge Museum Trust manages 10 museums within a World Heritage Site. It includes the world’s first iron bridge.
Its purpose is to preserve and interpret the remains of the Industrial Revolution in the six square miles of the Ironbridge Gorge.
Ironbridge is a registered educational and heritage conservation charity, with a related trading company.
In 2011, a Museum Development Trust that had been the main conduit for fundraising in the past merged with the Museum Trust. This allowed greater efficiency and sharper focus for a new fundraising strategy.
The Business Model
The Trust’s business model is driven by a unique set of Key Resources and Value Propositions and the Key Activities they make possible.
Recent years have seen a growing emphasis on retail and earned income, alongside admission fees, but innovations within the business model are resource and offer-driven.
The Trust owns many historic buildings and estates within a World Heritage Site. It has recently negotiated a 10 year Service Level Agreement to manage the site on behalf of the local authorities. The agreement has increased income security while maintaining the
Trust’s independence. This has allowed the Trust to try new things, be flexible and take calculated risks.
The Trust has developed individual sites and offers such as Enginuity, the national design and technology centre, and enhanced visitor experience based on intellectual and building assets.
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Ironbridge Gorge Museum Trust Business Model Case Study (PDF)