5 Tips for Starting a Private Art Studio

So you're an artist and you've decided to turn your personal passion into a business. Chances are that you've been told a slew of reasons why art can't pay and you're wasting your time. The reality is that even in hard times, artists can absolutely be successful in making their creative lives profitable. Here are five basics you have to remember when starting up your own private art studio.

1. Plan Everything in Advance

The first thing you need to do is to write up a business plan. Not only is this a prerequisite for many bank loans, but it's also helpful to put into words what you expect to get out of this business and how you plan to make that happen. This does include financial projections, so map out how much income you can expect to make and compare that to your projected costs of doing business. Understand your need for infrastructure planning. Studio space costs money, property taxes can fluctuate and utilities will be a continuous issue. Using green energy is a good idea because solar power is cheap and has a more stable price than oil, so check out a review of solar companies and look for a plan that fits your budget if you decide to go that route.

2. Define Your Artistic Vision

Art is a luxury, not a necessity. You're not selling food or water, you're selling an impression and a lifestyle. That means it's necessary for your work to stand out and connect with people. Decide who you're trying to reach, whether it be children or adults, the avant-garde or the average person. Use standard marketing research tactics to get an idea of the mindset of those prospective customers. Remember to ask yourself what your definition of "success" in this business is. Is breaking even enough as long you can perpetuate your art? Is maximizing profit the point? Mull these things over before you purchase the studio space.

3. Consider the Legalities

The legalities of starting a business should be at the forefront of your mind. Establishing a legal business entity in the form of a limited liability company (LLC) or corporation can protect a business owner from being personally sued if someone has a grievance against the business. Consider the tax requirements for your area, what kind of business insurance you're required to get, and what paperwork and responsibilities you need to consider if you have employees. The federal government offers a comprehensive list of guidelines and resources to get new business owners started on their journeys.

4. Think Like a Businessperson 

This is arguably the hardest thing for an artist in business to remember. Artists have been taught to believe that doing art is a function of the right side of the brain and finance is a left-brain task. That's a massive oversimplification. In reality, logic is a left-sided function and intuition is right-sided, but being a good artist or a successful entrepreneur requires a synthesis of both. For example, you'll need to figure out exactly how much you can sell your works for in order to make a profit while not alienating customers. This requires both price-comparison research and an intuitive feel for the desires of the market. Learning that balance is the key to success.

5. Build an Online Presence

The most effective method of getting the message of your artistic vision to its intended audience is through social media marketing. Choose the optimal platform for reaching your target audience. If you're serving a particular niche, engage with that subculture on its own terms via the media outlets they tend to use. Having a professional and attractive website is just as vital. There's even an art to this, as color psychology and layout design play a major role in crafting online spaces that get attention from the exact people you're hoping will become patrons of your studio.

Creating a successful art studio does require that you get your head out of the clouds...but only temporarily. At the end of the day, having an art studio is about doing what creative thinkers have always done best, which is bring beauty into a world that needs it.