Belle Meade Plantation-Case 17
Introduction
John Harding developed Belle Meade plantation in 1807 is a historic location in Nashville, Tennessee. The estate is estimated to be 200 years old, and it was ones famous with thoroughbred horses and racing. Several numbers of horses that are very famous in the history of the United States and many of Kentucky Derby racing horses today can be linked to thoroughbred horses from Belle Meade Plantation. This day, Belle Meade Plantation is among the most popular Nashville’s tourist attraction under the Nashville Chapter of the Association management. According to history, Belle Meade Plantation acquires funds to continue preserving its history from tourist selling tickets, organizing events, donations from cooperation and gift shop selling. When the number of donations decreased, Belle Meade ventured into social entrepreneurship by incorporating a winery into the property and tour. This day, tourists are asked to complement their visit with wine testing as soon as they finish touring. There is also a wine garden available for those visitors who would like to purchase the wine and enjoy it on the premises.
Analyse the strengths and weaknesses of the Belle Meade strategy and implementation of its non-profit winery.
Belle Meade has historical value. Whether or not the winery at Belle Meade is not for profit, the fact that the property where the winery is located has such rich history is a great strength; no competitor can replicate such historical value. Each wine bottle is packaged in specific Belle Meade related material; the designer labels feature a thoroughbred horse and relevant historical facts to connect with information shared during the tour. Belle Meade’s location is also another strength. Belle Meade’s winery is also the sole registered winemaker in Nashville. Its workers are also skilled and hardworking. Don't use plagiarised sources.Get your custom essay just from $11/page
Among its weaknesses was limited space. When the idea of the winery as an option to generate revenue to preserve Belle Meade, was first explored, Alton Kelly, who was the executive director, visited the Biltmore Estate Winery in Ashville. He wanted to observe and see examples of the best practises to see what would be best for Belle Meade. After realizing that at least one out of five tourists in Biltmore purchased the wine before leaving the site, the need to place the winery on site was very evident. The historical dairy in inside Belle Meade turned out to be the most appropriate and eventually became Belle Meade’s bonded storage facility. This space was, however limited and would not be sufficient in future growth. Prohibition by the laws is also a weakness. Local liquor laws prohibit storage in a location other than the place where it is being produced.
Given the success of the current Belle Meade winery, how can Belle Meade effectively address the challenges facing the winery for future growth?
Belle Meade could associate with local restaurants. Many popular local eating houses around Nashville have asked Belle Meade to be the executive wine at their eatery. By associating with these restaurants, it could increase its revenue.
Belle Meade could also build extra storage facilities. It’s because of the limited storage that Belle Meade declined the restaurant’s offer.However, Belle Meade could use the thirty acres of their property to build extra storage facilities.
Understanding the success of Belle Meade Winery, what could other non-profit organizations learn to create social entrepreneurship ventures to sustain their operations
Non –profit organizations could focus on cost-cutting by eliminating waste. These organizations could also focus on developing a better fundraising setup. For instance, hosting a special event and promoting the benefits of the organizations. Developing a way to generate funds internally. Focusing on the social standards of the company to engulf the company in the social entrepreneurship.
Belle Meade plantation is among the most popular estates to have pure-bred horses in the US. It’s now an important tourist site. In the previous years, it used to collect its revenue from donations of the people who visited the site, selling tickets and even hosting events. But the contributions declined, and it had to venture to wine-making to sustain itself.