Business & Professional AssociationsPublished by: First Research, Inc. Published: Nov. 5, 2012 - 10 Pages Table of Contents
AbstractBrief Excerpt from Industry Overview Chapter:Companies in this industry promote the business and professional interests of members. Major associations include the American Bar Association, the American Association for the Advancement of Science, the National Retail Federation, and the US Chamber of Commerce. The US business and professional associations industry includes about 23,000 associations with combined annual revenue of about $37 billion. The industry is expected to grow at a moderate rate for the next two years. Key growth drivers include partnerships, digital platforms, and career guidance offerings. Similarly structured groups with different missions are covered in the Health Fundraising Organizations and Nonprofit Institutions industry profiles. COMPETITIVE LANDSCAPE Demand is driven by business expansion and job growth. The profitability of individual associations depends on the ability to expand dues-paying membership. Large associations have economies of scale in marketing. Small associations can appeal to businesses or professionals in niche industries or serve local markets. PRODUCTS, OPERATIONS & TECHNOLOGY Major sources of revenue include membership dues (30 to 50 percent of revenues), convention and seminar fees (15 to 20 percent), publications (10 percent) and contributions. Associations may also generate revenue through merchandise sales and testing and examination services. Business, or trade, associations represent groups of businesses within an industry, whose members are typically individual companies. Professional associations represent groups of individuals within a specific field, such as law, medicine, or science. By representing large numbers of companies and professionals, both types can collectively promote group interests more effectively than can... Get full details about this report >> |
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