How to start an Art Business?
Are you an artist who would like to start your own art business? Or you are an independent artist selling your art and thinking of expanding your business or starting an art business. Join us as we explore starting an art business. We have interesting recommendations for you!
Step 1: A business plan
The first step in starting an art business is deciding what type of business you want to start. Do you want to be an independent artist selling your work? Or do you want to start an art gallery? Or do you want to start a service-based art business, such as art restoration?
An important step in starting an art business is planning. Even if you are an independent artist working alone, you still need to plan. Your business plan will help you define your goals, define and develop strategies to achieve them and determine how you will achieve success.
When writing your business plan, consider the following:
- What kind of art do you want to sell?
- Who is your target market?
- What are the short-term and long-term goals of your business?
- How do you measure success?
- How do you manage your inventory?
- How do you package and ship your artwork to customers?
- What systems and tools do you need for your business?
You can use online business plan templates or simply start writing and let your ideas flow. A business plan is a dynamic document that you will refer to and grow with your business. As you go through the rest of this guide, you’ll find more things to add to your business plan!
Additional tips for writing a business plan:
- Be realistic.
- Set measurable goals.
- Identify your target market and know what they want.
- Define your competitive advantage.
- Describe your marketing and sales strategy.
- Prepare a financial plan.
- By following these tips, you can create a solid business plan that will help you successfully launch and grow your art business.
Step 2: Identifying customers and target market
Knowing your target customers and understanding the market is very important for the success of your business. Especially art, which has an abstract and subjective identity. You need to find clients who are interested in the type of art you have.
Research to find out:
- Who will buy the art you sell?
- where do they live?
- How much do they earn?
- Which social media platforms do they use?
Part of understanding the market means knowing your competitors. Do a few online searches to see how many others are selling the same type of artwork you are offering and see how you can make yours better and more desirable.
Step 3: Understanding finances
Having strong control over your finances is another cornerstone of your success. One of the benefits of owning your own art business is that you have control over your expenses. You can decide how much to invest in raw materials (if you create artwork yourself) or how many artworks to buy for resale.
Make a complete list of all expenses both fixed (like studio or office rent) and variable (like raw materials) and try to predict what your expenses will be each month. This will be the basis for determining the amount of sales needed to cover costs and make a profit.
Keep in mind that one of your biggest expenses may be shipping artwork to clients. Depending on what you’re selling and how big or fragile it is, purchasing packaging and shipping materials can be expensive. If you need to insure each shipment, that’s another cost to consider.
Step 4: Determine the price
Setting a price for artwork can be difficult. If you’re selling someone else’s work, it’s a little easier because you can simply add a percentage to what you paid for it, and you end up with a profit.
But when focusing on something you’ve created yourself, it can be hard to remove the emotion. You might feel like it’s hard to put a price on something you’ve created with love and inspiration, but the cold, hard truth is that you’re running a business and you need to make a profit.
When setting your price, consider:
– Who is your target market and where do your products fit into the overall market?
– Is it an expensive or affordable product?
– Do your prices include shipping or do you charge for it separately?
– By thinking about things like this, pricing becomes clearer for you.
Step 5: Getting permission
To make your art business official, you must register your business according to the local laws in your geographic area. Don’t let this bureaucratic step scare you. In most cases, you can introduce yourself as a sole proprietor of a personal brand that only requires filling out a few forms.
As part of this process, you will need to choose an official name for your brand or business. Make sure you choose a unique name that hasn’t been taken before. When you officially register a brand, you need to search a database to make sure no other company has your name.
At this point, you may also want to set up a separate bank account so you can keep income and expenses separate from your finances.
Step 6: is the structure of placing an order and paying the amount
It is important to have an easy and efficient payment and ordering system for your art business. This will help you attract more customers and increase your sales.
You can create an online store yourself or use other platforms for selling artwork.
Your payment system should also allow you to track orders and provide financial reports. This will help you manage your business better and make more informed decisions.
A few additional tips for setting up the payment and ordering system:
Offer multiple payment methods to attract more customers and increase your sales.
Make the payment process simple and fast. Customers should not go through complicated steps to pay for their orders.
Ensure the security of your customers’ payment information.
Test your payment system regularly to make sure it’s working properly.
Step 7: Launching the website
This step overlaps with the previous step, so you may want to do them at the same time. Having an online presence allows you to showcase your art and let your potential customers browse to see what they like.
Your website will be the backbone of your online art business, and it’s where customers can browse your art, find out more about you, and easily make purchases.
When designing your website, it’s important to keep a few things in mind:
Design your website for easy navigation and user-friendliness. Customers should be able to easily navigate your website and find what they are looking for.
Use high-quality images and videos. This will help customers see and appreciate your art at its best.
Provide a simple and secure payment process to make it easy and safe for them to purchase your artwork.
Enter your contact information. So that customers can contact you if they have questions or need help.
Step 8: Strong online presence
One of the most important ways to succeed in an online art business is to create a strong online presence and build a virtual community. This will help you attract new customers and increase your sales.
Few tips for creating an online presence and building a community of fans:
– Be active on social media. Social media is a great way to connect with potential customers and build a virtual community. Share engaging posts regularly and engage with your audience.
– Start a blog. The blog is for sharing your knowledge and expertise in the field of art. It also helps you drive more traffic to your website.
– Create an email list. An email list is useful for keeping in touch with your customers and keeping them updated about your art business.
Attend art events. Attending art events is a great way to meet potential clients and promote your art business.
By following these tips, you can build a strong online presence and build a loyal community of fans.
Step 9: Appropriate tools
We already discussed a payment system, but there are other tools you can have in your arsenal that will also help streamline your business processes. These tools can include things like inventory management, contact management, calendars, to-do lists, and more.
Choosing these tools comes down to personal preference, sometimes having too many systems leads to not using any of them! Sit down and make a list of the key tasks you do, and then you can determine if there are technological tools that can help automate or manage those tasks more efficiently.
Step 10: launch!
Congratulations! You have taken all the necessary steps to start your art business. Now is the time to start your own business and start selling your art!
Remember that starting a new business takes time and effort, but with patience and persistence, you can succeed as an artist.