The Friends organisation grew out of the Liverpool Road Station Society which was established in 1978 by David Rhodes to save the station site. The Friends of the Greater Manchester Museum of Science and Industry had its inaugural public meeting in 29 July 1983, 2 months before the museum opened. It became a registered charity in 1985, and at the same time, the Liverpool Road Station Society formally wound down and transferred its assets to the Friends. The Air and Space Museum merged with the Science and Industry in 1985. The Friends organisation of the respective museums also merged.

The original objective of the Society was to encourage and promote public interest in the preservation and restoration to its original condition of Liverpool Road Railway Station in the City of Manchester as a place of historical interest together with the outbuildings. As well as wanting to preserve the site the society, set about making plans to celebrate the 150th anniversary of the inauguration of the Liverpool and Manchester Railway, which was planned for September 1980. To fulfil this the society set about increasing awareness of the history of the site. As well as educating the public and local authorities about the importance of the site the society’s other aim was to raise funds for the refurbishment of the station buildings and help to fund the 150th Anniversary celebrations.