Kaptivate and Torpedo Factory Artists Association (TFAA) Collaborate to Draft Business Plan for a Sustainable Torpedo Factory Art Center
Substantive Action Plan to Keep Artist Community Thriving in Alexandria’s Waterfront
FOR IMMEDIATE RELEASE
September 15, 2016
Alexandria, VA – For the past year Alexandria’s Torpedo Factory Art Center (TFAC) has been in a state of transition. In the midst of this transition and debate concerning the future of the art center, the Torpedo Factory Artists' Association (TFAA) turned to Kaptivate to plan the way forward. The Alexandria-based management consulting firm jumped at the opportunity to help organize and communicate TFAA’s vision for the art center.
The business plan aptly titled, “Charting a New Course” calls for a return to the original marketplace framework that sustained the art center for over 42 years. Unlike several alternative proposals on the art center’s future, the result of the TFAA-Kaptivate collaboration goes beyond a vision statement and presents a thoughtful and rigorous action plan. “As an Alexandria business, we wanted to help our peers in this extraordinary artist community make their case for a financially viable marketplace and a strong partnership with the City of Alexandria,” commented Ron Vassallo, Kaptivate’s President and CEO. He continued,“The art center lost its way when it organized itself into a charitable enterprise. We simply helped this collection of creative small businesses recall its legacy and build a sustainable economic model on it.”
Charting a New Course goes beyond identifying an intended destination. The business plan defines the steps necessary to complete the journey. Through its discourse on the Torpedo Factory’s history, challenges, risks, and opportunities, the plan outlines an ambitious and practical outline to evolve a celebrated destination into a vibrant marketplace on Alexandria’s new waterfront.
Specifically, the plan outlines ways to improve the financial strength of the Torpedo Factory and make improvements to the building. It would increase revenue by marketing the Center beyond its walls, increasing event-space rentals, partnering with local businesses, and expanding galleries. New sources of revenue would be secured through corporate partnerships, individual memberships, advertising, and fee-based programming.
Several weeks ago, the plan received a strong endorsement from the assembly of small business owners that make up the TFAA. “As artists, we’re thrilled to apply our creativity to a business challenge that affects our livelihoods," remarked Rachel Kerwin, an associate artist at the Torpedo Factory. She added “It’s also exciting to demonstrate that we’re more than just an ‘artist colony’. We’re small businesses committed to making the Torpedo Factory a dynamic marketplace. We all win when that happens.”
A digital version of Charting a New Course is available on both the Kaptivate and TFAA websites. Both parties expect that the public release of the document will encourage Alexandrians and many Torpedo Factory fans to engage in the discussion on the art center’s transition and future. Kaptivate believes that the comprehensive plan provides the agenda for a quick transition to a more dynamic art center.
About Kaptivate. We're a management consulting firm that simplifies complex challenges impacting the creative economy and the innovators that sustain it. We address process, technology, management, and economic problems by breaking them down to their core issues and conflicts. Kaptivate’s full spectrum support empowers our clients to connect with customers and constituents, to reinvent workforce capabilities, and to manage the change that comes with innovation.