The Profitability of Zoos
The profitability of a zoo business can vary widely depending on several factors. Some zoos are highly successful and generate significant profits, while others may struggle to break even or face financial challenges.
Revenue Sources of Zoos
- They provide $4.7 billion in wages and salaries and serve 179 million visitors annually.
- The highest paying job at a zoo is Zoo Engineer with an annual salary of $65,401.
- Roughly 90 per cent of the total revenue for a zoo comes from gate fees.
Operating Costs and Revenue
- In some ways, a zoo functions like a botanical garden or a museum, making money from a combination of admission, merchandise, private donors, institutional donors and aid from city and state governments.
- The nonprofit organization had total revenue of about $342 million in 2018 and expenses of about $302 million for a net gain of $40 million.
Controversies Surrounding Zoos
- Former zoo director David Hancocks estimates that less than 3% of a zoo’s budget goes to conservation.
- The truth is that most zoos exist primarily for profit.
Cost of Starting and Running a Zoo
- Entrepreneur magazine says that it costs between $10,000 and $50,000 to start such a zoo.
- Starting and owning a zoo also involves other issues: You need to have a zoo business plan and understand and satisfy zoo license requirements for example.