The art business is one of the most competitive ones in today’s time. Setting up a business is an easy task. However, making it a success is not.
Here are ten steps that will make your art venture a success.
- Devise A Business Plan
The most important before starting a business is to set out a plan. Following are some questions that you should be asking yourself.
- How much can I earn within a year?
- Is my artwork good?
- Can people relate to my pieces?
- Learn Your Financial Status
Venturing into a new business always requires personal investment. Make a list of expenses relevant such as:
- Art supplies
- Rent of a studio
- Utility bills
Listing out all the costs would help you estimate the capital you require to set up your own business.
- Profile Your Audience
As an artist, you should know your target customers. Ask yourself questions like:
- Who is most likely to buy my work?
- The age range of my target audience?
Knowing your ideal customer will help you create more relevant artwork.
- Research About Your Target Market
Whether locally or internationally, learn about the places where your type of artwork is in demand. Additionally, find out the market prices and deduce whether you will profit or not.
- Find Out About Competitors
Diving into a business without researching about rivals is always a bad idea. Hence, always investigate competitors. Find out places where similar works are being sold and their prices. Visit their studios or exhibitions and examine their work.
- Promote Your Artwork
In any market, you need to advertise your product first before making sales. For artists, the best way to promote their work is by public viewing. Thus, research about galleries who will be willing to put your work.
Also, take out space in art fairs and put up your best pieces. Attend exhibitions of other artists too and make contacts with curators etc.
- Pricing
While making a piece, always keep in mind the price range you can sell it for. Avoid making large pieces initially as people are not prone to buying expensive artwork from a new business.
- Set Up A Website
The best way to connect with collectors is to introduce yourself. Thus, through a site, you can keep track of your sales. You should also update the site regularly to keep your customers interested as well.
- Keep Customer Service Top Priority
Expanding a business takes effort, and it all comes down to happy customers. Your regular customers are of great help in the long term. Not only do they promote your work, but keeping them comfortable means they will shop again.
- Legalize Your Business
Finally, register your business to make things official. Complete all the relevant paperwork and ensure you have all the documents in place. It will allow for a smooth transition.
Final Words
Following these steps will surely turn your art business into a success. Though, keep in mind that the art business is a continuous cycle. Hence always make an annual report and devise a plan for next year and so on.