5 Easy Steps to Estimating Exhibit Costs for Children’s Museums
Is your museum dreaming of a captivating new water exhibit? Does your CEO want to add an iconic climbing structure? Have you been asked to create a multi-exhibit development plan to guide your museum over the next 10 years?
One of the most common questions we’re asked is: How much will these exhibits cost? This is a difficult question to answer generally because every project has unique variables that can affect pricing, most notably, the cost of materials and construction labor. Building in New York City is more expensive than in Mississippi. Also, if you are wanting something truly custom—something you can’t buy off-the-shelf, how can you price it before you design it? We acknowledge that there is no perfect universal pricing model, but having a well-informed starting place for preliminary cost estimating can make a huge difference determining viability in the early planning stages.
Before diving into pricing methods, it’s important to note two different project approaches to designing and building your project. See our blog post on Two Approaches to Designing and Building a Museum Exhibit.
STEP 1: Determine the approximate size of your project
Maybe you don’t know the exact location or shape of your exhibit, but you’ve got to start somewhere. For most exhibit types, estimating AREA is sufficient. Estimate area by multiplying your project’s width by length. For example: Maybe you have an available footprint that is roughly 20 feet by 30 feet. 20’ x 30’ = 600 square feet. If you really don’t know how big an exhibit needs to be, try comparing your exhibit area to a room in your house. Does your exhibit need to be bigger? By how much?
For a climbing exhibit or something multi-height, it’s better to use VOLUME than area. Multiply your exhibit’s width by length. Then multiply that number by the available height. For example: Maybe you have an available footprint that is roughly 12 feet wide by 20 feet long by 28 feet tall. 12’ x 20’ x 28’ = 6,720 cubic feet.
STEP 2: Multiply your AREA (or VOLUME) by Construction Cost Averages
Nowhere else in this effort will you see more debate, more caveats, and more concealment of “proprietary” information than when asserting construction cost averages. You can argue the number specifics, but the logic is that different exhibit types cost differently. The worst thing you can do is under-budget at an early stage of assessing project feasibility. Here are some typical exhibit types with (2024) associated costs per area or volume:
Water Exhibit = $600/square foot
Maker’s Space / Art Studio = $250/square foot
Sensory Rooms = $500/square foot
Climbing Structures = $80/cubic foot
For example, if your Climber has a rough available volume (as calculated in Step 1) of 6,720 cubic feet, you multiply that by $80/cubic foot to get a rough construction budget of $537,600.
BTW- Some exhibits have a low purchase cost and a high operating cost. Maker’s spaces and art studios are good examples. Some exhibits have a high purchase cost but a low operating cost. Climbing structures exemplify this type. Then there are high purchase cost and high operating cost exhibits. Water exhibits live in this pesky category. Sadly, there are no low purchase cost, low operating cost exhibits that I’m aware of.
STEP 3: Estimate Design and Project Management Costs
Depending on the complexity and project duration, this percentage can fluctuate greatly. Also, if you are going to hire one company to design AND build your exhibit, their design fees will appear lower than if you hired separate companies. This is because many design + build companies decrease their design fees while making profit during fabrication and installation.
In general, you can expect to spend an additional 12-20% of the construction budget on design and project management services.
For example, if your climber construction budget is estimated at $537,600 (from Step 2), you can estimate $86,016 for design and project management services (16% average).
STEP 4: Add Contingency and Escalation
Contingency is money you set aside for unforeseen charges. In the case of a Climbing exhibit, maybe you didn’t anticipate needing to move a fire sprinkler head. The less you know about a specific design, the higher your contingency should be. Conversely, the more you know about your project, the lower your contingency can be. A good starting number for an exhibit cost estimate is 20% of your construction budget. To clarify, “contingency” is for the unforeseen, not for changing your mind about a design. That’s called an “add-service.”
Escalation is money you set aside for yearly increases to the cost of goods and services. For every year your project exists, add 4% of your construction budget, beginning with the first cost estimate you make to the day your exhibit opens.
For example, if your climber construction budget is estimated at $537,600 (from Step 2), you can estimate $107,520 in contingency (20%) and $21,504 per year in escalation (4%). Most exhibits, climbers included, have a 3- to 4-year germination period; so for 3 years x $21,504 = $64,512 in escalation.
It’s important to note that contingency and escalation should only be calculated using the construction estimate and NOT including Step 3’s Design and Project Management Costs. Also, contingency and escalation are parts of the budget the client controls directly and should not be ceded to the designer, fabricator, or other third party. Hopefully, that’s money you will not need to spend.
STEP 5: Calculated Total Project Budget Estimate
From estimating your exhibit’s area needs and knowing a few historic averages, you can quickly pull together a reasonable exhibit cost estimate. Using our climber exhibit example:
Step 1: 12’(w) x 20’ (d) x 28’(h) = 6,720 cubic feet for a Climber Volume
Step 2: Construction and Installation = $537,600 (Step 1 x $80/cu.ft.)
Step 3: Design and Project Management = $86,016 (16% of Step 2)
Step 4: Contingency and Escalation = $172,032
Step 5: Total Project Estimate = $795,648 (add Steps 2, 3, 4 together)
Many experts will be quick to say that this cost estimate couldn’t possibly include everything. What about permitting costs, owner’s rep fees, prevailing wages, signage design and installation, play props and exhibit consumable purchases, temporary storage, equipment rentals, unassigned construction costs, staff training…? Yes, the list is long. And the more you and your team dig into the details, the greater clarity you will gain, but this 5-step method will give you an excellent, informed place to start your journey!
