It’s one thing making art as a hobby, and quite another making it your profession. Starting any business from scratch takes time, effort, dedication, and resilience. The art business is no different. You never know what challenges you may need to overcome on your path to success, so you need to come prepared.
Whether you’re trying to establish an online art business or set up a brick-and-mortar studio, the process is pretty much the same, and you need to approach it systematically.
Take a look at a few essentials that’ll help you get started in the art business world.
Get Some Professional Assistance
It’s easy for a new business owner to get lost in the details – coming up with a catchy business name, choosing just the perfect website theme, decorating the studio. While all these are important in the long run, you need to start from the essentials, registering your new art business and taking care of all the legal requirements.
It’s in your best interest to seek professional assistance and consult Best Central London Mail Forwarding Service. They’ll simplify the whole business registration process and ensure that you don’t overlook any essential details and paperwork that could ruin your chances of success before you’ve even started.
Develop a Comprehensive Plan
You need to be clear about your specific plans and objectives with your art business. It’s the only way to keep track of your success and ensure that you’re reaching your goals. Your business plan will guide you through each milestone and help you define what your business will be about and how you’ll conduct it.
You can start by asking the big questions like where you want your business to be in ten years and your long-term goals. But it’s critical that you also come up with short-term plans – where do you want your business to be in the next few months, and what will you do to make it happen? How much money do you need to make within three months? How will you attract customers? Be detailed and specific.
Research Your Target Audience
Your target audience is the specific group of people who would be interested in doing business with you and buying your art. You’ll need to know who they are so that you can find the best ways to approach them and establish a lucrative relationship with them.
Likely, a pop art enthusiast wouldn’t be very interested in your classical paintings, for example. So, you’d only waste your time, money, and effort trying to get them to buy your art.
Without your target audience, your art business would not exist. Every business strategy, plan, and campaign, will need to be centered on your target customers if you want to get their attention.
Get a Hold of Your Finances
One of the most challenging aspects of running an art business is determining how to price your products. If your art is too expensive, your target audience might not be able to afford it. If it’s too cheap, you wouldn’t be able to pay your rent and support yourself.
The simplest way you determine your pricing is to consider all the business expenses you’ll have. That includes your art supplies, shipping supplies, your studio’s rent and utilities, overhead costs, and most importantly – your hourly wages. You still need to make a living!
And remember to stay well organized with your finances. Keep all your business receipts and track of all expenses and profits you’re making. It will make things much more comfortable in the long run.
Connect With Your Audiences
The next step in setting up an art business is connecting with your audiences. You need people to hear about you, and you need to get them interested in buying your art pieces. This is where coming up with a catchy art business name comes in.
Your business name will act as your brand ambassador. It will be the first thing your audience sees, and it will shape their impression of your business. So, make sure that the name is creative, relevant to your niche, easy to read and pronounce, and memorable.
Once you have a good name, you can start making your presence known. Set up a professional-looking website that suits your brand persona. Launch marketing campaigns on social media, join craft shows, connect with local galleries, and start building your network.
Make Use of the Available Tools
When your business takes off, it can be overwhelming staying on top of all customers, tracking all orders, managing deadlines for customer returns, and keeping an eye on your finances. If you’re not yet ready to expand and hire some help, you’ll need to make use of all the available tools.
Fortunately, you have access to many artist-specific apps and software that can help you run your business. Invest in a good project management tool, use a financing app, get invoicing software, inventory management apps, and more.
Final Thoughts
Starting an art business is a challenge you’ll enjoy taking on. While it can be overwhelming, as long as you’re committed to your work and strategically approach your business, you can make your art into a lucrative career that widens your horizons.
