Case Study: Consulting Enterprise Develops Business Plan for World's Fair
EXPO2023 is an effort to bring the World's Fair to Minnesota in 2023. Led by then-Secretary of State Mark Ritchie, EXPO2023's planning committee engaged the Carlson Consulting Enterprise to assess EXPO2023’s potential financial performance, including projected revenues and costs, scenario planning, and operational considerations. EXPO2023 needed a foundation to build a business plan for the fair to present to the Bureau of International Expositions (BIE), the global decision-making body for World’s Fairs.
The CCE team structured EXPO2023's projected financial performance using typical revenue and cost categories for World Fairs and other mega-events of comparable size, such as smaller Olympics and the Minnesota State Fair. The team conducted dozens of interviews with industry experts and built a robust model to allow EXPO2023 organizers to consider multiple scenarios and track projections over the coming years.
The team delivered detailed scenarios, financial considerations for EXPO2023 for the next several years, and operational recommendations to help ensure optimal EXPO2023 financial performance.
"The deliverable was delivered in a timely and professional manner by an engaged project team. The process, team focus, follow-through and enthusiasm were superior," said Wendy Meadley, one of the EXPO2023 organizers and a client contact for the project.
EXPO2023 Continues Bid for World's Fair
Led by former Secretary of State Mark Ritchie, EXPO2023 announced the creation of the official Minnesota World’s Fair Bid Committiee, co-chaired by Marilyn Carlson Nelson and Lois Quam.
“The group is now scouting for 60-acre parcels of land that could accommodate an enormous pavilion—and other structures—to house exhibits by 100 countries and 12 million visitors. If Minnesota nabs the bid, it would be the first time in 30 years that a fair has landed in the United States.”
"The theme of Minnesota’s bid will be health and wellness, which will let the state put the spotlight on its medical technology industries, water conservation efforts, bike trail systems and more."
Source: Star Tribune