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Business & Professional Associations
First Research, March 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US business and professional associations industry includes about 23,000 associations with combined annual revenue of about $37 billion. 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 industry is highly fragmented: the top 50 associations generate about one-quarter of industry revenue.
Associations promote the business and professional interests of members. 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 (35 to 50 percent of revenues), convention and seminar fees (20 percent), contributions (5 percent), and publications (10 percent). Associations may also generate revenue through merchandise sales.
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 individual members. Most associations operate at regional, state, or local levels; many are affiliated with national or international...
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