The art gallery business is a tough one.
You’re in a creative industry. And it’s a creative industry with a volatile market.
Profits are uncertain. One quarter can turn in good profits. Others can be a severe loss.
But still, if you have a passion for art, you should open up an art gallery. That passion is an important key to success.
With art galleries, you need passion.
But – You Can’t Forget the Business Aspects.
You’re running a business. There are costs, employees, paperwork, and metrics involved.
Sure, you’re in a creative industry. But that’s not an excuse to be extremely risky with your business model.
You must learn how to open an art gallery. And you need to do so without incurring too much risk.
So to start off…
Proper Money Management.
When starting an art gallery, you have a ton of costs of manage.
You pay rent for the wide space to showcase the art. You also pay employees to take care and manage the space.
Not to mention, you need to consult a designer on how to setup a beautiful gallery.
You then have to pay each artist a cut after sales. After all, they’re not providing you their hard-made assets for free.
Don’t Forget Marketing.
Marketing is a part of any business, especially the art scene.
Art galleries supply visual stimuli. And your marketing has to be intensely graphic to entice new customers.
So you need to be good at taking and editing photos.
You then need to do some hustling. Expect event and fair attendance to be a normal part of your schedule.
Also, expect to attend a few auctions, as a way to network with interested clients.
You need to get the word out locally about your gallery.
After all, art galleries are concrete services. You don’t sell art gallery service online, or by delivery.
They’re places you need to visit. And most visitors will be in your local area.
So you need a local marketing plan that zones onto your market.
Building a Network of Artists.
Running an art gallery is a form of brokering.
You hookup artists with clients. You contact artists, get their artworks, and then find clients to enjoy that art.
So you need to a build a contact list of good artists. And you need to tell apart the promising from the dispassionate!
Sounds Like a Lot of Work.
It really is.
Learning how to run an art gallery is a tough job. And when formulating a business plan, you need an expert’s help.
For that, we recommend OGS Capital. They’ll design you an art gallery business plan, suitable for a successful startup!