Reinventing Profit: Belle Meade Plantation

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Reinventing Profit Belle Meade Plantation began as a successful thoroughbred horse farms in the country in 1807. The plantation is located in Nashville ,Tennessee and even after the Civil War continued to prosper in the thoroughbred horse breeding business. Today, the plantation, due to its historical significance, is a non-profit museum that focuses on the experience of being in the nineteenth century. Faced with financial concerns, the Kelleys, Alton and Sheree had to come up with a business plan in order to secure funding in the long term to keep the museum running. Donations were increasingly lower each year and the couple had to find answers to their financial dilemma. Their unique approach was to incorporate social entrepreneurship in the shape of a nonprofit winery. Although the non profit winery is doing well, the …show more content…

The Kelley’s being the directors of the plantation were not familiar with the winemaking process. Also, “there were no other known nonprofit wineries in the United States” (Ferrell et al 591). Not having any examples to build with, the project could have had severe negative financial impact on the plantation. Also, going into an unknown business strategy could have backfired with the stakeholders of the nonprofit. Banking on an uncharted business could affect jobs, income, and also mean the plantation would be closed. Luckily, the plantation did have a history of winemaking and this worked to integrate the history of the location along with the new funding making plan, as the curator noted, “there are numerous invoices from the 1800s that show the Hardings purchased and served fine wines” (Ferrell et al 593). Additionally, the museum was already known for excellent customer service, providing a tourist need, and also the keeping the historical nature of the location alive. Already having this vision in place assists in strengthening the proposed

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