Business plan for a new interactive Brussels museum using the latest exhibition technologies

Details

Supervisors

Janssen, Frank

Faculty

Louvain School of Management

Degree label

Master [120] en Ingénieur de gestion

Abstract

It is by building up a 3D documentary about Notre Dame de Paris, that Anthony Huerta came up with the idea of making a museum about the history of Brussels: Bruseum. Passionate and having a career in 3D movies, special effects and scenography, he decided to start the project to create a museum with the latest technological exhibitions inventions. His son, Kevin Huerta, helps him with the management of the business.  The museum will be located in the “Gallery Horta”, which is abandoned at the moment. The museum will be divided in different parts where the two top attractions are a virtual tour in the Middle Ages and “Fly over Belgium”, where you fly over the landscapes of Belgium and Brussels sitting in a moving structure. Bruseum is a great opportunity to give second life to this gallery and to innovate with a brand new concept of museum. The number of tourists has been constantly increasing since 1994, and in order to keep it growing, it is important for Brussels to innovate. The museum enables tourists to visit something different. This could bring even more tourists in Brussels. Bruseum could definitely be a success in Brussels as we’ve seen some proof of concept which showed us the success of similar projects. While analysing the competition, no one was selling exactly the same service but some of them were quite similar. We find out why those museum work so well. Mini-Europe for example, is really successful thanks to the precision of the miniatures. As Bruseum wants to reproduce the Grand-Place in 3D, it should be done very accurately in order to attract travellers.  When you look at the Atomium, it is successful because it is the international symbol of Brussels and it is a well-known place. The Grand-Place is a real high-light for visitors in Brussels. Bruseum, being located right next to the Grand-Place and telling the history of this Place, could definitely attract many visitors. Furthermore, what tourists like in the Atomium is the fact that they can have a great view on Brussels, which is also possible in Bruseum thanks to the “Fly over Belgium” with incredible sensations on top of it.  This museum is designed for people aged between 35 and 64 years old. This age range visit the most Brussels and they are also interested in the history of the city. Furthermore, unlike everyone might think, not only young people are interested in new technologies. According to our survey, the above mentioned age range is also very interested in it. Finally, all of this information is used for the financial plan. The revenues will essentially come from the entry fee, but we will have some additional revenues thanks to the cafeteria, the souvenir shop but also the rental of the space for business of private event. Cost wise, the main costs will be the wages and the promoting of the museum. Besides, some costs are allocated for services and other goods. Furthermore, because this museum needs a lot of investment to create the infrastructure, a large financing is necessary. An estimate of 8.000.000 euros is needed to cover the financial costs of the company. This amount will be gathered thanks to public grants, sponsoring and by equity and bank loans. Those figures are needed to realise the income and the cash flow statement, which show that the business will be profitable as from the start and that the company has enough cash to pursue its activities.