This research has focussed on the development of a commercial business model (CBM) for providing tourism and support service based commercial activities in Victoria's national parks which also allowed for the protection of the parks natural values. National parks are vital if we as a nation are to retain our natural heritage - but the public sector land stewards of these important assets are facing increasing funding and user pressures. The result is a growing focus on the commercialisation of our national parks to provide services and generate the revenue required to maintain these assets. However, this has resulted in the exacerbation of a long existing conflict - these commercial operators are primarily focus on the achievement of a commercial return, while the land stewards' main responsibility is in the protection of the natural values of these assets. In completing this project an abductive research approach (using grounded theory) has been adopted. Specifically, the research activities undertaken included data collection via a number of techniques including stakeholder interviews, detailed examination of existing commercial arrangements, literature research on international approaches and models, development of a suggested commercial business model based on a synthesise of the research outcomes and, finally, obtaining user feedback. The use of the various data sources, and subsequent sourcing of user feedback facilitated the triangulation of the research results. The findings from this research challenge a number of the practices currently adopted in the structuring of commercial activities suggesting that these practices are inhibiting the quality of the service being provided to the national park visitor along with the level of protection being afforded to the parks natural values. The resulting CBM provides park managers with a framework for identification and structuring of commercial business activities, practical guidance on the actions required in the completion of a concession process and identification of a number of the relevant issues which need to be considered and addressed in establishing and managing a national park concession. The CBM has been developed specifically for application within Victoria's national parks (based on a public/private sector relationship). The output will also provide guidance on methods for embedding natural values on public/private sector relationships in other settings.