s your market and whether you fill a specific niche is essential. For instance, if you paint beautiful natural landscape artwork, ensure no other artists in your city have a similar style. Otherwise, it may be hard to create a successful business.
Research the market online and in your city, identifying art shops that provide similar work. See what styles remain popular on these sites and gauge how yours differs. Different niches that you may fall under include:
- Realistic Painting: This option is very popular with the general market because it produces appealing and attractive art that the average person can enjoy.
- Abstract or Impressionistic Painting: People with unique or adventurous tastes in the art may enjoy abstract or impressionist styles.
- Home Decor: Art stores often focus heavily on home decoration because this market is one of the biggest in the art world. Gauge how well your style fits this niche.
- Sculpture: Many people love sculptures for their homes or garden, and if you can create unique styles, you may sell your pieces more easily.
- Native Art: If you’re a Native American, you might produce beautiful art in your culture’s style that may appeal to many people.
- Children’s Art: Parents may want to buy children’s art to decorate their child’s nursery or provide unique and eye-catching styles that engage the imagination.
Gauge your skills and styles and decide whether they fit your area’s unique market. Would you be creating art that stood out compared to others? Or would you be simply another voice in an already saturated market? Standing out as an artist requires providing something others can’t
Practice your art to produce unique looks for your customers, including specialized ones. You can even try a pop-art style by painting characters from movies and television that your customers may like. If you take that route, you may need to license these images before selling them, which can be pricey.
2. Raising Capital and Buying Materials
An art business can be inexpensive because you may need art supplies and a website to sell your pieces. However, if you plan on operating a physical store, your costs will include rental or purchase prices, which will set you back several thousands of dollars. As a result, capital is essential to find.
You can typically find many options that make sense for an art business. These vary depending on your market, the type of art you produce, and other factors. Just a few startup funding sources that you may want to consider for your new company include:
- Personal Loans: This funding source works well if you plan on a sole proprietorship, as you will be the only one paying on a loan and can receive all our art business benefits.
- Business Loan: When you need more money than you can get with a personal loan, a business option may be your best choice. They work well for partnerships and LLCs.
- Venture Capital: Though it might be hard to find an investor interested in your art business, art lovers may provide you with a bit of money to get started.
- Grants: State and federal government groups may assist small businesses, including art startups trying to make the world a more beautiful place.
- Friends and Family Members: Though you can always borrow money from your loved ones, this step is only suggested if you need more financing options.
The capital you need will vary heavily, and it is typically best to have at least $20,000 to $40,000 when starting an art business. This money will help you invest in your materials, a place to work, and other vital items. In this way, you can start on the right path to success.
Make sure that you create a business plan to focus your art success. These plans highlight many unique elements of your business operation. Knowing how to start them can ensure that your art company makes money and minimize your financial concerns.
3. Creating a Business Plan
An intelligent business plan can help your art company thrive by ensuring you understand your operation. However, producing a plan requires working with business advisers and other professionals to create a coherent guide. A few things you need to consider in your business plan include the following:
- Expenses: Calculate how much you must spend to keep your art business operational, including website fees, office rental, material costs, and art creation time.
- Marketing Plans: While you might not want to market your work, you need to if you want to thrive in an art business. Online marketing and physical advertising are essential for success.
- Art Prices: How much do you want to charge for your artwork? It would help if you created a payment plan that adequately compensates for your work while attracting customers.
- Growth Opportunities: Identify ways to grow your business, including marketing to other areas and expanding your art options.
- Website Design: A high-quality website can market your work and provide a platform where you can sell your art and connect with other artists.
- Potential Dangers: You need to plan for potential issues with your business, including total art loss if your storage facility is damaged or destroyed due to fire or water.
- Branding: What is your art store’s brand? Are you trying to appeal to the average buyer or connoisseurs? Your branding must include elements such as your logo and marketing.
Note that your business plan must be adaptable as your art company changes. For instance, your approach and style may adjust as you find specific options that appeal to your customers. Adaptability can include rebranding options, as well as unique customized art styles.
4. Marketing Your Work
The goal of any company is to continually provide their customers with what they want. An art business is no different. Changing your techniques and producing art that differs from your preferences may be painful, but it can help you compete with other providers.
Marketing your art may include joining several sites to post your work and connect with potential customers. These sites include social media groups, high-quality retail shops, and more. Just a few options that you may want to consider for your art include:
- DeviantArt: Though designed as a site for amateurs, DeviantArt remains one of the most popular art sites. You can post your early art sketches, highlight completed works, and make connections with other artists. In addition, it includes social media elements that make selling your work easier.
- Twitch: You can set up videos showcasing your work on this popular website, highlighting real-time or sped-up showcases of how you create your piece. That will spread your name reasonably quickly. YouTube also works well for marketing artwork in this way.
- Etsy: Etsy is one of the most popular art websites and is a great place to spread your name early in your career. As your art grows more popular, you can sell it on your site to ensure you get the money you deserve. Sites like these also regularly highlight artwork to help market great works.
- ArtStation: Though a bit outdated in its presentation, ArtStation remains a popular place to post, sell, and market art. Though it focuses heavily on video game and pop art, it can help get your art company’s name in the market.
- Instagram: This photo-based social media site is the perfect way to highlight your artwork. You can post attractive examples of your work and include your contact information with each post. This way, you can spread your name to potential customers and build a better connection.
Set up an online shop on your website to meet your potential customers’ demands. For example, you may sell art to people in other parts of the world or directly to buyers in your area. This step can ensure you stay in business longer by improving your sales options.