19 Pros & Cons Of Starting A Museum Tours Business (2024)

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Unlimited income potential

With starting a museum tours business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

Location is everything!

When operating a physical storefront, the location often speaks for itself and serves as it's very own marketing tool! It's important to choose a location in a high traffic area so you can spark curiosity and get people through your door!

Face to face interaction

If you are the type of individual that thrives on human interaction, then this is the business for you! With a museum tours business, you will be hands-on with customers and or employees every day.

Simple business model

A museum tours business has the advantage of a simple business model, which makes launching and building the business more seamless.

Greater Income Potential

With this business, the sky is the limit in regards to your income potential.

Express your opinions

With starting a museum tours business, you can express your opinions and knowledge to your audience, which allows you to build your own reputation and identity.

Tax Benefits

The tax deductions when you starting a museum tours business are too good to be true. In most cases, you get to essentially deduct the majority of expenses you pay. Many other businesses do not have this advantage - so make sure to discuss what this could look like for your business with a professional.

Low maintenance customers

In this industry, customers are known to be very appreciative and low maintenance. This can help with your stress levels and allow you to focus on growing your business.

High employee turnover

In the museum tours business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Work can be repetitive

You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!

Time commitment

With starting a museum tours business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.

You might struggle financially (at first)!

If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.

More of a challenge to run your business from home!

Running your business from the comfort of your own home is a big appeal for many entrepreneurs. With a museum tours business, you are more likely to run your business out of your office or storefront space.

Work is not always glamorous

With starting a museum tours business, you may need to get your hands a little dirty. Although it may seem glamorous from the outside to start this business, the work can require a lot of physical activity and repetition.

The job can be demanding

This is one of the major disadvantages starting a museum tours business. It's important to understand that you may need to make yourself available on a 24/7 basis.

Recession-Impacted Industry

When the economy is down, museum tours business's are one of the first things to be cut.

More challenging to earn passive income

It can be more of a challenge to make passive income in this business. Often times, the amount of revenue you bring in is limited by the amount of time you have in the day.