What A Fantastic Revelation!

Make a Plan For Everything

Many people may not understand they are beginning their own art company when they decide to become professional artists. However, it is correct! You're selling a product (artwork) to those who appreciate it (collectors).

And, as with any new firm, a business plan may assist you in laying out all of the essentials.

We understand that it seems official, but it doesn't have to be daunting. Take out your laptop or paper and begin sketching down your ideas for this new, creative vocation. 

Begin By Identifying Your Artistic Practice

What is your goal? ? What short- and long-term goals can you set to assist you in reaching these objectives? Be explicit and honest about what you want from an art career. Every artist will have a unique response, and that's perfectly OK!

Not Every Buyer Is The Same

Next, determine who your target customer is. This is a marketing word that you'll hear a lot, but that's because it's so crucial! When you figure out who your ideal client is (the one who is most likely to buy your artwork), you'll be able to better grasp how to market your work so that you can truly make money.

To narrow down who your purchasers are and how to win them over, ask yourself these nine questions, such as what income levels can afford your work and where these clients often shop for art.

Don't take any chances! From how you contact consumers to the tone of voice you use to communicate, your whole marketing plan will be based on these responses.

There are several ways to advertise your work—email newsletters, art fairs, social media, galleries, and blogging—but not all of them will attract your target audience. Choose a marketing approach that suits your art company and include these channels in your business plan based on the characteristics of your potential consumer.

Ignorance Is Bliss

You can plan for how you will maintain your livelihood when you remove the guesswork out of your financial circumstances. You'll also establish specific targets for how much you need to earn and save to pay your costs.

Let's Get Started!

Please write down the prices of everything you can think of when running an art business in this portion of your strategy, from materials to studio space rental. Make a separate list for your spending, including anything from mortgage payments and food to date evenings. As your company strategy develops, you can always come back and add more.

The continued spread of COVID-19 has had a significant economic impact, with small company owners being among the most impacted. 

Make A Profit By Pricing Your Work

One of the most difficult things for artists to figure out is pricing. It might be much more difficult to figure out how to generate a profit. But isn't that the point of being a professional artist? Is it possible to make a livelihood from your art?

There's a persistent misconception that artists must be "hungry." That isn't the case. Your art business plan is crucial to your success, and how you price your work is a big part of it. While we adhere to these seven guidelines for pricing your art, a few stick out.

Make It A Legal Matter

You've completed the task and are now ready to begin selling. Making your art company legal is the only thing stopping you from expanding your empire.

This is because even professional artists must obtain a company license.

Conduct some study to determine the sort of business structure you wish to establish. Because it's simple to set up and satisfies the demands of basic studio practice, many artists prefer to organize their firm as a sole proprietorship.

With your bank, open a second company checking account. That way, when it comes time to file taxes, your business and personal costs won't be jumbled up. Also, remember to keep your business receipts!

But, before you make anything official, use these pointers to figure out what the best name for your art business is. As long as it's simple to say and shorten, consider using your name with the terms "art" or "studio" added to the end.

Double-check whatever name you pick to ensure it isn't already used! We're confident you don't wish to get involved in any legal proceedings. You'll also need a website and social media pages with the same name as your art company so that clients can discover you.

Concentrate on choosing the correct social media outlets for you (and your target client!) and posting high-quality content.

Finally, How Will You Keep Track Of Everything?

You must run a full-fledged company as a professional artist. That includes inventory information, where venues are presenting or selling your art, exhibition dates, customer contact information, sales records, invoices, deadlines for call-for-entry applications, and your calendar.

There are a lot of moving pieces in this system. That is why artists have a reputation for being unorganized. It isn't easy to stay on top of everything!

On the other hand, a competent company owner will search for tools to assist them in staying organized. That's why having a tool like Artwork Archive, a business program designed exclusively for artists, is so important.

Please keep track of everything we've said thus far! Manage your artwork, venues, contacts, shows, documentation, costs, and sales all in one place. At the touch of a button, create professional reports such as invoices and portfolio pages. With a timetable and weekly email reminders, you'll never miss a deadline again. Get crucial information about your sales plan. Showcase a professional portfolio that includes your most recent work.

Artwork Archive Boosts The Efficiency Of Your Whole Art Business Process

You'll also need systems like these in place. Not only will it keep you organized and professional, but it will also save you time. Because, after all, wouldn't you rather concentrate on making art than keeping your company afloat? So get started right away!