Turning Your Art Into a Business
Let's say you love your art, and so do a lot of other people. You've gotten not just compliments, but offers to buy your work. Perhaps you've even sold a few pieces already. Now, you're ready to take the next step and are wondering about turning your art into a business. With just a few steps you can start down the path to becoming a professional artist!
Setting a Price
The first step is perhaps the hardest. You have to emotionally detach from your art at a business level. Many artists fall to the temptation of not charging enough for their art. Others over value their work and charge too much. Still others over produce one item, thinking it will sell, and are stuck with a lot of inventory when it doesn't.
Consider the Consumer
If you're going to sell your art for profit, then you have to look at your work from the eyes of a consumer. Just because one person liked an item you produced doesn't mean a lot of people will. However, this isn't to say you should discount the art you've sold in the past, or have received compliments on. It just means that you need to verify a piece’s popularity before producing multiple copies for sale.
Develop a Business Plan
The easiest way to step back and take an objective look at your art as a business is to develop a business plan. This is a must-do step in launching any new business, and art is no different. A business plan will force you to answer questions that don't have anything to do with your art directly. Questions such as how will you market your art? Who or what is your competition? Where and how will your art be produced? What will your manufacturing costs be? How much inventory will you hold at any given time? What will your profit and loss statement look like? Do you need any permits or licenses to produce your art on a commercial scale?
Once you answer questions like these (and more), you'll be ready to move forward. The Small Business Admistration (http://www.sba.gov/) has tools and resources you can use to develop a business plan.
