Grounds For Sculpture (GFS) manages a 42-acre sculpture park, museum, and arboretum on the site of the former New Jersey State Fairgrounds in Hamilton, NJ. GFS proposed a new ceramics studio which held great promise for helping the organization fulfill its core mission and to extend its offerings to new audiences. To determine the feasibility of the proposal, ESI conducted a high-level analysis of selected customer types and nearby competitors which yielded three areas of promise, including children/schools, seniors/facilities and events, and provided a comprehensive analysis to guide decision-making and strategic planning.
The specific challenge was to determine the potential market demand, financial viability, and alignment with GFS’s mission and community values. In doing so, ESI completed a Mission Framework Reference Guide which assembled a taxonomy of potential business models to help GFS prioritize different objectives and assess possible ways forward; a Customer Archetype Analysis to assess three key audience groups (children/schools, seniors/facilities, and event attendees) for a better understanding of their characteristics and potential interest in the new ceramics studio; and a Competitive Landscape Analysis, a review of nearby ceramics studios to identify market opportunities and niches that GFS could fill.
ESI’s work identified significant potential for the ceramics studio to attract diverse audiences, including over 230,000 children and 310,000 seniors within a 30-minute drive. The competitive landscape analysis revealed opportunities to position GFS as a unique destination for creative and therapeutic activities.
The findings provided GFS with a clear roadmap for launching the ceramics studio, including target markets, pricing strategies, and promotional efforts. The financial model helped GFS understand the potential revenue streams and cost implications. The pro forma model projected positive financial outcomes, with potential to break even or achieve a modest profit, depending on the level of community engagement and program offerings.
ESI provided a comprehensive, concise feasibility analysis report and made a presentation of findings to GFS staff, board members, and stakeholders. And, ESI developed an interactive pro forma financial model for the organization.