The 2024 Guide for How to Start an Art Business
If you're looking for some practical advice on how to start an art business, then you are in the right place. In this comprehensive article, you'll find everything you need to get started including resources for ongoing support and training through the Created to Thrive Artist Mentoring Program. Just click one of the buttons below to go right to what you're looking for. We're glad you're here!
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Hey there, fellow artists! Are you pondering over the exciting possibility of turning your artistic passion into a profitable venture? Well, you've come to the right place!
But let's be honest: 7 out of 10 small businesses end up failing pretty quickly. My goal is to make sure that you're not one of them, both through this article and through the other artist mentoring resources we have available.
Embarking on the journey to start an art business is both exhilarating and daunting. It's a path filled with potential, yet strewn with challenges. Often, artists enter this venture fueled by passion and creativity, but it's crucial to recognize that an art business is, in essence, just like any other business. It experiences ups and downs, faces challenges and joys, endures difficulties, and celebrates successes.
The truth is, running an art business requires more than just talent and creativity; it demands hard work, dedication, and a willingness to navigate the complexities of entrepreneurship. It's not a path where success materializes through sheer wishful thinking or sporadic effort. Instead, it requires a strategic approach, a clear vision, and a steadfast commitment to your goals.
The reality of the business world is harsh, and the statistics can be disheartening. With 7 out of 10 small businesses failing, the odds may seem stacked against you. However, this statistic isn't a prophecy of doom but rather a call to action. It underscores the importance of being prepared, well-informed, and proactive in your approach to building your art business.
The aim of this article, coupled with our comprehensive artist mentoring resources, is to equip you with the knowledge, strategies, and support needed to defy these odds. We want to ensure that you're not just another statistic, but a success story in the making.
Remember, every successful art business out there has had its share of trials and triumphs. The journey is never a straight line; it zigzags through periods of doubt and stages of growth. It's a process of learning, adapting, and evolving. The key is to embrace this journey with an open mind and a resilient spirit.
As you read on, let this be your guiding principle: an art business, like any venture, is a blend of artistic passion and business acumen. It's about marrying your creative vision with strategic planning. And with the right mindset, tools, and support, you can navigate the complexities of this journey and emerge as a thriving artist-entrepreneur.
So, let's roll up our sleeves and dive into the nuts and bolts of building a successful art business.
Remember, the magic doesn't happen overnight, but with each step you take, you're turning your artistic dream into a vibrant reality. And remember, this isn't just about making money; it's about expressing yourself and sharing your unique vision with the world
But let's be honest: 7 out of 10 small businesses end up failing pretty quickly. My goal is to make sure that you're not one of them, both through this article and through the other artist mentoring resources we have available.
Embarking on the journey to start an art business is both exhilarating and daunting. It's a path filled with potential, yet strewn with challenges. Often, artists enter this venture fueled by passion and creativity, but it's crucial to recognize that an art business is, in essence, just like any other business. It experiences ups and downs, faces challenges and joys, endures difficulties, and celebrates successes.
The truth is, running an art business requires more than just talent and creativity; it demands hard work, dedication, and a willingness to navigate the complexities of entrepreneurship. It's not a path where success materializes through sheer wishful thinking or sporadic effort. Instead, it requires a strategic approach, a clear vision, and a steadfast commitment to your goals.
The reality of the business world is harsh, and the statistics can be disheartening. With 7 out of 10 small businesses failing, the odds may seem stacked against you. However, this statistic isn't a prophecy of doom but rather a call to action. It underscores the importance of being prepared, well-informed, and proactive in your approach to building your art business.
The aim of this article, coupled with our comprehensive artist mentoring resources, is to equip you with the knowledge, strategies, and support needed to defy these odds. We want to ensure that you're not just another statistic, but a success story in the making.
Remember, every successful art business out there has had its share of trials and triumphs. The journey is never a straight line; it zigzags through periods of doubt and stages of growth. It's a process of learning, adapting, and evolving. The key is to embrace this journey with an open mind and a resilient spirit.
As you read on, let this be your guiding principle: an art business, like any venture, is a blend of artistic passion and business acumen. It's about marrying your creative vision with strategic planning. And with the right mindset, tools, and support, you can navigate the complexities of this journey and emerge as a thriving artist-entrepreneur.
So, let's roll up our sleeves and dive into the nuts and bolts of building a successful art business.
Remember, the magic doesn't happen overnight, but with each step you take, you're turning your artistic dream into a vibrant reality. And remember, this isn't just about making money; it's about expressing yourself and sharing your unique vision with the world
Getting Started with Your Art Business
The first step is reflecting on what really sparks your creative fire. Are you a painter, a sculptor, a digital artist, or do you dabble in mixed media? Your passion is the key ingredient in your art business recipe. Think about the themes, styles, or subjects that resonate with you. Your business should be a reflection of what you love creating.
Is Art a Good Business?
Absolutely! The art world is brimming with opportunities. Art isn't just a hobby; it's a viable business avenue. From original creations to prints, custom commissions to digital downloads, the possibilities are endless. And yes, people are willing to pay for your artistic talent. In fact, based on our research, some of the most popular art businesses to start lately include:
What Artistic Skills or Talents Do You Have?
Evaluate your skills and talents. Are you great at capturing emotions on canvas, or perhaps you have a knack for creating whimsical illustrations? Your unique skill set is what sets you apart in the art market. Embrace it and use it as your selling point.
Where Do You See People Making Money in the Marketplace?
Do some market research. Look at artists who are succeeding in areas similar to your idea. Are they selling original pieces, prints, or offering custom commissions? This research can provide valuable insights into what's working in the market.
How to Name Your Art Business
Your name is your brand. Consider naming your business after yourself. It adds a personal touch and helps in building a personal connection with your audience. For instance, “Sarah Smith Fine Art” sounds both professional and personal.
What Kind of Income Do You Want to Make?
Decide whether you're aiming for a full-time income or looking at this as a part-time venture. This decision will influence your business strategy, pricing, and how much time and effort you're willing to invest.
Does Your Art Have the Potential to Make Money?
Be honest with yourself. Does your art appeal to a specific audience? Is there a market for your style or genre? Understanding your art's marketability is crucial in shaping your business strategy.
Monetizing Your Art Business
Once you've honed in on your idea, think about diversifying your income streams. Here are a few options:
Is Art a Good Business?
Absolutely! The art world is brimming with opportunities. Art isn't just a hobby; it's a viable business avenue. From original creations to prints, custom commissions to digital downloads, the possibilities are endless. And yes, people are willing to pay for your artistic talent. In fact, based on our research, some of the most popular art businesses to start lately include:
- Direct Art Sales
- Art Classes (online and-in person)
- Art Therapy
- Mural Painting
- Commission Artworks
- Pottery Classes
- Art Gallery
What Artistic Skills or Talents Do You Have?
Evaluate your skills and talents. Are you great at capturing emotions on canvas, or perhaps you have a knack for creating whimsical illustrations? Your unique skill set is what sets you apart in the art market. Embrace it and use it as your selling point.
Where Do You See People Making Money in the Marketplace?
Do some market research. Look at artists who are succeeding in areas similar to your idea. Are they selling original pieces, prints, or offering custom commissions? This research can provide valuable insights into what's working in the market.
How to Name Your Art Business
Your name is your brand. Consider naming your business after yourself. It adds a personal touch and helps in building a personal connection with your audience. For instance, “Sarah Smith Fine Art” sounds both professional and personal.
What Kind of Income Do You Want to Make?
Decide whether you're aiming for a full-time income or looking at this as a part-time venture. This decision will influence your business strategy, pricing, and how much time and effort you're willing to invest.
Does Your Art Have the Potential to Make Money?
Be honest with yourself. Does your art appeal to a specific audience? Is there a market for your style or genre? Understanding your art's marketability is crucial in shaping your business strategy.
Monetizing Your Art Business
Once you've honed in on your idea, think about diversifying your income streams. Here are a few options:
- Different Price Points: Offer a range of products, from affordable prints to high-end original pieces.
- Teaching and Speaking: Share your skills through workshops or speaking engagements.
- Video Monetization: Create art tutorials or vlogs and monetize them on platforms like YouTube.
- Memberships: Offer exclusive content or discounts to members.
- Art Sales: Sell your work through various channels, including online platforms, galleries, and art fairs.
Their Dreams of Having an Art Business Have Become Their Reality
Watch this brief story of how Trent and Kate Freeman went from struggling in their art business to really thriving and living their dreams by being a part of the Created to Thrive Artist Mentoring Program.
Setting Up Your Corporate Entity for Your Art Business
Transforming your art into a business not only requires creativity but also a bit of legal savvy. When you're ready to formalize your art business, understanding different business structures is crucial. Make sure you always seek and follow the advice of licensed legal and financial professionals before acting on any advice, ideas or thoughts regarding your corporate entity.
Let's break down the basics of Sole Proprietorship, LLC, and S-Corp, and why setting up a business bank account, website, and establishing a solid online presence are essential steps in your art business journey.
Choosing the Right Business Structure
Setting Up a Business Bank Account
Once your corporate entity is established, setting up a business bank account is a must. This separates your personal finances from your business transactions, making it easier to manage cash flow, track expenses, and prepare for taxes. It also adds professionalism and credibility to your art business.
Building Your Online Presence
Additional Considerations
By carefully choosing your business structure, setting up a business bank account, and establishing a robust online presence, you lay a strong foundation for your art business. These steps not only protect you legally and financially but also set the stage for your art to be discovered, appreciated, and purchased by a wider audience. Welcome to the exciting world of running your very own art business!
Let's break down the basics of Sole Proprietorship, LLC, and S-Corp, and why setting up a business bank account, website, and establishing a solid online presence are essential steps in your art business journey.
Choosing the Right Business Structure
- Sole Proprietorship: This is the simplest form of business ownership. As a sole proprietor, you and your business are legally the same entity. It's easy to set up and requires less paperwork. However, it doesn't provide personal liability protection, meaning your personal assets could be at risk if your business faces legal issues.
- Limited Liability Company (LLC): An LLC offers a blend of simplicity and protection. It provides personal liability protection, keeping your personal assets separate from your business liabilities. An LLC is also beneficial for tax purposes, as it allows for pass-through taxation, avoiding the double taxation often associated with corporations.
- S Corporation (S-Corp): An S-Corp is a more complex structure. It allows profits (and some losses) to be passed directly to owners’ personal income without being subject to corporate tax rates. However, S-Corps have stricter regulations and requirements. They're ideal for artists who expect significant growth and profits, as they can be more tax-efficient at higher income levels.
Setting Up a Business Bank Account
Once your corporate entity is established, setting up a business bank account is a must. This separates your personal finances from your business transactions, making it easier to manage cash flow, track expenses, and prepare for taxes. It also adds professionalism and credibility to your art business.
Building Your Online Presence
- Website: Your website is your digital gallery. It's where potential buyers and admirers can view your work, learn about you, and even purchase your art directly. A website adds credibility and gives you full control over how your art is presented.
- Credit Card Processing: Offering easy payment options is essential. Integrating credit card processing on your website makes purchasing your art convenient for customers, leading to more sales. Services like PayPal, Stripe, or Square are popular choices for small businesses.
- Social Media Presence: Social media is a powerful tool for artists. Platforms like Instagram, Facebook, and Pinterest can be used to showcase your work, build a following, engage with your audience, and even direct traffic to your website or online store.
Additional Considerations
- Insurance: Consider getting business insurance to protect your art and workspace.
- Record-Keeping: Maintain good records of sales, expenses, and inventory. This is crucial for tax purposes and for understanding the financial health of your business.
- Contracts: Have clear contracts or terms of service for commissions, sales, or any services you offer. This protects both you and your clients.
- Intellectual Property: Understand the basics of copyright law to protect your artwork and your rights as a creator.
By carefully choosing your business structure, setting up a business bank account, and establishing a robust online presence, you lay a strong foundation for your art business. These steps not only protect you legally and financially but also set the stage for your art to be discovered, appreciated, and purchased by a wider audience. Welcome to the exciting world of running your very own art business!
She's No Longer Afraid of Money...
Watch this brief story of artist Jessie Nilo who became a part of the Created to Thrive Artist Mentoring Program and overcame her fear and frustration with money and the business side of running her own art business. Now, she's thriving and inspiring others to do the same.
How to Grow an Art Business
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Growing your art business is a thrilling part of the journey. After mentoring thousands of artists around the world in just about every creative medium, the most effective way to grow an art business is to learn the PROPEL Artist Marketing Framework™. This multi-pronged approach includes:
This framework is a powerful tool within the Created to Thrive Artist Mentoring Program, helping artists create consistent income. It ensures that you're not just focused on the latest marketing fad or trend, but rather creating a solid foundation for your art business to grow and thrive, regardless of the economic environment. You can find out more about the PROPEL Artist Marketing Framework™ and the Artist Cashflow Wheel™ inside our FREE Artist Cashflow Bootcamp™ Training on YouTube. |
Navigating the Emotional Journey of Starting an Art Business
Embarking on the path to start an art business can be likened to setting sail on a vast, uncharted ocean. It's a journey filled with passion and dreams but also marked by daunting challenges and emotional hurdles. The life of an artist entrepreneur is not just about brushstrokes and color palettes; it's a profound personal quest, often laden with loneliness, fear, and financial uncertainty.
The Emotional Landscape of an Artist Entrepreneur
The Power of Support and Mentorship
In this landscape of emotional and practical challenges, the role of support and mentorship becomes invaluable. Research from the Small Business Administration (SBA) indicate that small businesses (including art businesses), that receive mentoring or coaching have a 70% higher chance of surviving the critical first five years compared to those without mentoring support. This statistic isn't just a number; it's a beacon of hope.
Having a mentor is like having a lighthouse guiding you through turbulent seas. It's about going further, faster, and not just surviving but thriving. A mentor provides not just practical advice and business acumen but also emotional support and encouragement. They've walked the path you're on and can help navigate the pitfalls and storms.
Created to Thrive Artist Mentoring Program: Your Companion on the Journey
This is where programs like the Created to Thrive Artist Mentoring Program step in. Tailored specifically for artists, this program isn't just about business strategies; it's a community of fellow artists and mentors who understand your journey. It's about shared experiences, collective wisdom, and a network of support that uplifts and inspires.
The Vivid Dream of Success
Imagine the joy of seeing your art celebrated, the satisfaction of financial stability from doing what you love, and the warmth of belonging to a community that understands and supports your artistic journey. This isn't just a dream; it's a tangible reality for those who embrace the journey with a mentor by their side.
The Invitation: Embark on a Journey of Growth and Success
So, my friend, as you stand at the crossroads of passion and practicality, remember that the path to becoming a successful artist doesn't have to be a solitary one. Embrace the opportunity to be mentored, to be part of a community that propels you towards your dream. The Created to Thrive Artist Mentoring Program is more than a program; it's a gateway to transforming your artistic passion into a thriving business.
Feel the canvas of your future being painted with brighter colors, the sculpture of your career taking a more defined shape, and the gallery of your dreams filled with the light of success and recognition. With a trusted mentor and a supportive community, the journey from a struggling artist to a thriving entrepreneur isn't just possible – it's within reach. Your art, your passion, your dream – all waiting to be realized. Let this be the moment you choose to not just dream but to thrive.
The Emotional Landscape of an Artist Entrepreneur
- Loneliness: Imagine the solitude of the studio, where hours blend into days, spent in the company of canvases and clay. For many artists, this solitude is a double-edged sword. It's the cradle of creativity but also a breeding ground for isolation. The lack of a supportive community or network can amplify feelings of loneliness, making the journey seem daunting and endless.
- Fear and Self-Doubt: Every brushstroke is a bold statement of self-expression, yet it's also an opening for self-doubt and fear. Will my art be accepted? Am I good enough? These questions often echo in the minds of artists, paralyzing creativity and impeding the bold step into the business world.
- Financial Uncertainty: The stereotype of the 'starving artist' is a shadow that looms over many creative endeavors. The uncertainty of income, the upfront costs for materials, and the unpredictability of sales contribute to a financial tightrope that many artists walk on. This lack of consistent income can be both a practical and emotional burden.
- The Dream Deferred: The dream of being a successful artist is vibrant and vivid – galleries filled with admirers, the joy of seeing your creations cherished, and the fulfillment of making a living doing what you love. Yet, for many, this dream seems just out of reach, obscured by the fog of challenges that the art world presents.
The Power of Support and Mentorship
In this landscape of emotional and practical challenges, the role of support and mentorship becomes invaluable. Research from the Small Business Administration (SBA) indicate that small businesses (including art businesses), that receive mentoring or coaching have a 70% higher chance of surviving the critical first five years compared to those without mentoring support. This statistic isn't just a number; it's a beacon of hope.
Having a mentor is like having a lighthouse guiding you through turbulent seas. It's about going further, faster, and not just surviving but thriving. A mentor provides not just practical advice and business acumen but also emotional support and encouragement. They've walked the path you're on and can help navigate the pitfalls and storms.
Created to Thrive Artist Mentoring Program: Your Companion on the Journey
This is where programs like the Created to Thrive Artist Mentoring Program step in. Tailored specifically for artists, this program isn't just about business strategies; it's a community of fellow artists and mentors who understand your journey. It's about shared experiences, collective wisdom, and a network of support that uplifts and inspires.
The Vivid Dream of Success
Imagine the joy of seeing your art celebrated, the satisfaction of financial stability from doing what you love, and the warmth of belonging to a community that understands and supports your artistic journey. This isn't just a dream; it's a tangible reality for those who embrace the journey with a mentor by their side.
The Invitation: Embark on a Journey of Growth and Success
So, my friend, as you stand at the crossroads of passion and practicality, remember that the path to becoming a successful artist doesn't have to be a solitary one. Embrace the opportunity to be mentored, to be part of a community that propels you towards your dream. The Created to Thrive Artist Mentoring Program is more than a program; it's a gateway to transforming your artistic passion into a thriving business.
Feel the canvas of your future being painted with brighter colors, the sculpture of your career taking a more defined shape, and the gallery of your dreams filled with the light of success and recognition. With a trusted mentor and a supportive community, the journey from a struggling artist to a thriving entrepreneur isn't just possible – it's within reach. Your art, your passion, your dream – all waiting to be realized. Let this be the moment you choose to not just dream but to thrive.
The Importance of Creative Community When Starting an Art Business
Internationally recognized muralist, Brian Peterson went from struggling on his own to experiencing phenomenal success in his art business through the power of the Created to Thrive Artist Mentoring Program, mentors in his life and doing transformative art works.
Art Business Startup Checklist
Starting an art business can be an exhilarating journey. Remember, it’s not just about "how to make money with art" or "marketing my art"; it’s about creating a sustainable cashflow from your art business while doing what you love. Embrace the process, be patient, and watch as your art business flourishes!
To help keep you on track, here's a straightforward checklist. This list is designed to guide you through the essential steps of turning your artistic passion into a thriving business:
Remember, the journey of starting an art business is unique for each individual. This checklist is a starting point, and you may find that some steps take more time and require additional research and help! Stay true to your artistic vision, and don't hesitate to seek support and mentorship along the way from us here at Matt Tommey Mentoring. Happy creating and good luck on your business adventure!
* This article was written with the help of ChatGPT AI Technology.
To help keep you on track, here's a straightforward checklist. This list is designed to guide you through the essential steps of turning your artistic passion into a thriving business:
- Identify Your Passion and Artistic Niche:
- Determine what type of art you are passionate about.
- Identify your unique style or niche.
- Evaluate Your Artistic Skills and Talents:
- Assess your current skills and areas for improvement.
- Consider any additional training or courses that might be beneficial.
- Conduct Market Research:
- Research the market to understand current trends and demand.
- Identify potential competitors and learn from their business models.
- Choose a Business Structure:
- Decide between Sole Proprietorship, LLC, or S-Corp.
- Register your business with local, state, and federal authorities.
- Create a Business Plan:
- Outline your business goals, target audience, pricing strategy, and marketing plan.
- Set Up a Business Bank Account:
- Open a separate bank account for your business to manage finances effectively.
- Develop a Brand Identity:
- Choose a business name (consider using your own name).
- Design a logo and brand aesthetics.
- Build an Online Presence:
- Create a professional website to showcase and sell your art.
- Set up social media profiles on platforms like Instagram, Facebook, and Pinterest.
- Implement Payment Processing:
- Choose and set up a system for processing payments (e.g., PayPal, Stripe).
- Plan Your Product Line:
- Decide on the range of products or services you will offer.
- Consider different price points to cater to a wider audience.
- Establish Operational Logistics:
- Plan how you will handle shipping, packaging, and inventory management.
- Explore Diversified Income Streams:
- Consider additional income avenues like teaching, workshops, or digital content.
- Network and Build Relationships:
- Connect with other artists, galleries, and potential partners.
- Seek Mentorship and Join Communities:
- Consider joining programs like the Created to Thrive Artist Mentoring Program.
- Engage with artist communities online and offline.
- Marketing and Promotion:
- Develop a marketing strategy to promote your art.
- Consider creating promotional materials like business cards and brochures.
- Set Up Insurance and Legal Protections:
- Get appropriate insurance for your business.
- Ensure you understand copyright laws and protect your work.
- Implement Record-Keeping and Accounting Systems:
- Keep track of sales, expenses, and profits.
- Consider using accounting software or hiring an accountant.
- Regularly Review and Adapt Your Business Plan:
- Periodically review your business progress.
- Be open to adapting your strategy as your business grows.
Remember, the journey of starting an art business is unique for each individual. This checklist is a starting point, and you may find that some steps take more time and require additional research and help! Stay true to your artistic vision, and don't hesitate to seek support and mentorship along the way from us here at Matt Tommey Mentoring. Happy creating and good luck on your business adventure!
* This article was written with the help of ChatGPT AI Technology.
Artists Around the World are Thriving after Starting an Art Business
Watch this compilation of stories from 40 artists who are a part of the Created to Thrive Artist Mentoring Program. They followed our step-by-step plan and are thriving as artists financially, spiritually and artistically.
Let Us Help You Start an Art Business
Artist Mentoring Program
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Books for Christian Artists
Read some of Matt's books to inspire your walk with the Lord as an artist. Topics include prophetic art, business, healing, renewing your mind and the Kingdom. |
Free Video Training
Watch this free video training to find out all about The Artist Cashflow Wheel and how you can start to create consistent income in your art business. |
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Get The Thriving Christian Artist Starter Kit
For a step-by-step guide to launching your art business, consider downloading The Thriving Christian Artist Starter Kit. It's a 26-page step-by-step action plan packed with insights and practical tips to kickstart your journey that will make your success easier and quicker. |