Business component of private museum in Thailand

Abstract

This qualitative research aimed to 1) To study the current situation of museums in Thailand 2) To find the business model of museums to present the business canvas of museums. The study employed the grounded theory approach through in-depth interviews with eight key informants, including private museum directors, curators, and scholars in museum studies and creative economy. Findings revealed that most private museums in Thailand face financial instability, lack of sustainable business models, and limited strategic management capacity, resulting in the closure of several museums, especially after the COVID-19 pandemic.

The analysis led to the development of a Self-Sustaining Business Model integrating Osterwalder and Pigneur’s (2010) Business Model Canvas with Elkington’s (1997) Triple Bottom Line framework to balance social, environmental, and economic values. The model identifies four major revenue streams—ticket sales, museum shops, commercial spaces, and income-generating activities (workshops or cultural collaborations)—supported by the application of Integrated Marketing Communication (IMC) strategies to enhance audience engagement and long-term community participation. Policy recommendations include establishing a National Private Museum Fund (Matching Fund), incorporating Museum Management and Cultural Creative Business courses in higher education, and promoting cross-sector collaboration among government, private, and academic institutions to strengthen Thai private museums as sustainable drivers of the creative economy and national soft power.