Starting an Art Gallery Business
Do you love to art? Why not put your passion to good use by opening your own art gallery business? This is a very rewarding business and it will give you the opportunity to earn while doing something in line with your interest.
Imagine being surrounded with great pieces of art everyday.
Imagine being able to work with fine artists and selling art pieces to people who share the same love for beautiful things as you do. Wouldn’t that be a great way to work?
Use your love for art by starting your own Art Gallery business. The end-goal of this business is to sell the art pieces you have in your collection. This is where the bulk of your profit shall come from.
As an additional source of income, you may choose to charge admission to your gallery. Another source of income is art rentals. You may set aside some of your art pieces and make them available for renting. Lease period can be as short as a couple of days to several months. People usually rent art pieces for special functions such as weddings etc.
If your funds are limited to a point that you cannot allocate money to lease or purchase space for your art gallery, fret not. You can always put up an online art gallery. All you need to do is have your site hosted. This wont cost you much. An online art gallery is a good stepping stone into the brick and mortar area of art business.
You don’t have to have an art degree to become an art gallery owner. This belief is a fallacy. What you need to have is passion for the field and a good eye. As long as you know how to appreciate art and discern what is good from what is trash, then you can become successful in art business.
Deciding on the type of genre to showcase in your gallery shall depend on both your and your target market’s preference. There are several art styles, media, and themes you can choose from: antique art, artisan art, fine art, folk art, impressionism, jewelries, paintings, photographs, pop art, posters, potteries, retro art, sculptures, surrealism—the list is endless!
It is always good to rotate your art gallery inventory. To do this, you need to build a substantial network of art dealers. The rotation must be done as often as possible. If you are lucky, your rotation will come as a result of a completed sales transaction!
To succeed in this business, you must conduct a lot of research. Take time out to study how successful art galleries operate and try to emulate them. Conversely, take time out to study the less successful art galleries and try to identify what they’re doing wrong and avoid doing the same with your gallery.
Take the effort to figure out what your prospective customers prefer. Try to get a feel of their taste in art. Then put yourself in their shoes. What do you think are they willing to buy? And for how much?
Find ways to attract customers by making them feel special. One way to do this is by serving wine and hors-d’oeurve during art exhibitions. If you can, try to provide art consultation services. Helping your customers select the perfect artwork that suits their taste and personality is one way of showing you care.
Remember, if your customer is satisfied, there is a huge chance that they’ll return to your establishment and refer your art gallery to their family and friends.
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Jestin James
Startup Biz Hub - Senior Advisor (Staff)