business planning for artists

Business Plans for Artists: What Every Artist Should Know

Writing a business plan is a necessity for any creative..

If you are making and selling artwork, congratulations! You can officially call yourself a business person – and every business person needs a business plan.

Unfortunately, most arts programs don’t teach their students how to actually sell their work, let alone create an outline for how to make their skills marketable. A business plan makes it possible for a great artist to become a profitable one.

Why do you need a business plan?

If you’re new to considering your art practice a business, putting together a business plan might seem like trying to learn a foreign language.

The truth is, a business plan is your ticket to making your art career profitable. While it’s not something that’s typically taught in art school, learning how to write a business plan for artists takes the stress out of your creative pursuits. You’ll have a clear-cut pathway to profitability thanks to your business plan.

It’s especially helpful to have a business plan if you are planning to sell your work at art fairs. Instead of finding yourself scrambling to pull together all the odds and ends of the business side of your studio, you’ll have much more time to spend on preparing your artwork and calling in prosperity!

What is a business plan?

A business plan details the who , what , when , where , why and how of your art business. Luckily, a lot of this information can be pulled directly from your artist statement, making less work for you! However, much of your business plan will require some dreaming, asking you to write down what your ideal art career will look like.

Let’s get into the WWWWWH of things:

The “ Who ” of your art business is you . Artists who are part of a collective or group will include anyone else who may be creating artwork with them in this part of the business plan.

Set for the “ What ” of your art practice. What are you in the business of creating? What is your medium? What niche or audience does your artwork speak to? In what ways can your skills or particular style translate into different types of work – can you paint large-scale community murals, or design furniture, or work on clothing collaborations?

What is your production schedule like? This will be included in the “ When ” part of your business plan.

Where will you be selling your artwork? Will you create an online store as well as selling your work in person at art fairs and gallery events? Knowing where you’ll be selling your artwork will help you price and distribute it.

Why do you create art? What drives you in your pursuits?

Take stock of what is important to you about your art practice and what will be necessary for you to consider your art business successful. We’ll get more into these elements of your business plan below!

How do you make a self-employed artist business plan?

Creating a business plan takes the guessing and uncertainty out of working for yourself. Most likely, you already have the components of what needs to go into your business plan floating around in your brain. Like beginning a new work, the best way to create your business plan is to just get going !

We took our learnings from artists, gallerists and our time running the best art fair for independent artists and distilled it into this simple plan.

Superfine’s Artist Business Plan Example

Create your mission statement.

Creating a business plan can be fairly similar to crafting your artist statement. They include similar information, like who your target audience is and how does your work serve to reach those people.

If you’ve never written an artist statement before (or maybe it’s been a while since you crafted your last one), start by asking yourself these simple questions:

Why did I become an artist?

What themes or topics do I explore with my art?

What materials do I use when creating art?

What do I want people to feel, know or experience when they interact with my work?

After doing this exercise, you will most likely find yourself with enough information to write up to a 5 sentence mission statement that will help you focus your business plan and communicate effectively with your customer base, potential collaborators, art fairs and other art professionals.

2. Define Your Vision Statement

Once you’ve nailed down your mission statement, think about how you’d like to see your business evolve. This is called your Vision Statement, and details what you’d like to accomplish with your business over the next several years.

What do you want to be known for? Where or in what publications, institutions, or stores would you like to see your art featured? Is there anyone you would like to collaborate with?

3. Set Realistic Goals

Many people like to have long-term and short-term goals to help keep growth of their business in perspective. The most important part of goal-setting is keeping your desires realistic .

How many works a month would you ideally like to create?

How many collectors would you like to have in 1 year from now?

What is an achievable goal for how many people you would like to have signed up for your email subscriber list?

How much money would you like to make in a month? How much in one year?

By keeping your goals realistic, you are taking the first step in setting yourself up for success.

Take your goal-setting to the next level by breaking down your larger vision into steps. One method that works particularly well is to break down your larger goals into smaller actions. What can you accomplish in:

Try it out with your art business goals and let us know!

3. Research Your Competitors

Knowing who your competitors are is standard practice for any business – including art business owners! Research what your competitors are doing as part of their art practice, how they present themselves, their social media and email marketing strategies, and more.

Understanding your competition gives you a greater knowledge of some of the business strategies and hurdles you may be up against. Ultimately, this knowledge will help you stand out from the crowd.

When assessing your competitors, keep the following things in mind:

How is your practice similar to theirs?

How are they succeeding in areas that you are not?

What can you do to improve what you are doing?

Where are you succeeding in areas where they are not?

How can you continue to stand out as a front runner that collectors will be drawn to?

4. Finances

Having a handle on the financial part of your art business is crucial to seeing success. How will you pay for supplies? How much will you charge for your work? Knowing these details will help you stay on top of not only your bills, but your art business as well. When you know exactly when and how your studio rent is due, you can spend more time working on your next conceptual piece.

Create a simple list or, if you’re up to it, a spreadsheet of the financial ins and outs of your business. These are the basic expenses you should list on your spread sheet:

Expenses – do you rent a studio space? How often do you purchase supplies, like canvases or paint tubes, and how much do they cost?

Funding – many artists have side-hustles (and even full-time jobs!) in addition to their art practice. How will you fund your creative endeavors? Is there a set percentage of your monthly income that goes to your art practice to purchase supplies, run advertisements on social media, or apply for art fairs? You may also want to consider applying for grants, or even crowd-funding some projects.

Pricing – how will you price your artwork? What kind of monthly income will you need to see in order to turn a profit? If you’re not sure, check out our helpful pricing matrix.

Anyone who is in the business of selling something has a payment processing plan. Set up a program, like Square, QuickBooks or through your website host (like SquareSpace or Wordpress) to generate invoices and process payment.

Another perk of taking payments through a processing plan (instead of only taking cash or check) is that it will make your end-of-year accounting so. much. easier.

5. Create A Marketing Plan

You could have the best business plan for artists in New York City, but if no one knows about you and your artwork it’s not serving you! Draw out a marketing plan so you can spread the word about your work and put yourself out there.

Create a website. This is a perfect place to host your online portfolio!

Create your social media profiles . You’ll be able to start interacting with members of your community right away. For tips on how to get the most out of your social media practice, check out this AMA we recently did with Kat from Create! Magazine.

Map out your social media marketing strategy. This is especially helpful to review anytime you are gearing up for an art show!

Set up you email list. We recommend MailChimp !

6. Streamline Your Art-Making Process

As an artist business owner, you know that the process of creating and selling art doesn’t stop with varnishing a canvas.

It’s helpful to know in advance what will happen with your artwork once the creation process is complete so that it can spend less time in storage and more time in the possession of your collectors.

Here are a few simple steps for optimizing your creation-to-marketing process:

Catalogue the work. Not a fan of spreadsheets? There’s no time like the present to get organized. Make a running list of the works you’re finishing, including the title , materials , date started and finished , dimensions and price . This will serve as an easy-reference for doing things like promoting your artwork, listing it online and more.

Photograph the work. You can’t sell your work online without a reference photo for people to look at! Plus, photographing your work also serves as an archive of what you’ve accomplished. Add the images to your website portfolio to show off what you’ve done and what is currently available to purchase. You’ll want to have great photos of your work, so we recommend supporting a fellow creative and hiring a professional photographer who specializes in capturing your particular type of art.

Let your fans and followers know. Send out an email blast to your list, post on social media, and otherwise get the word out! Your work deserves to be seen, especially if you plan on exhibiting your newest creations at an art fair like Superfine Los Angeles.

7. Make a Sales Plan

How do you plan on selling your artwork? Established salespeople in most industries will tell you that the key to maximizing profits is to diversify your approach .

A good practice to follow entails publishing your newest work on all of your online platforms immediately after you’ve finished, archived and photographed it.

Try listing your artwork on the following platforms to gain exposure and reach new collectors:

Email newsletter

Facebook & Facebook Marketplace

Superfine Art Fair (we look forward to your application!)

Any other online sales platform that you think is right for you!

Ready to put your art business plan to work?

Now that you have this artist business plan outline for reference, practice making your own. You’ll find that ideas come easier and you will be less stressed with the technical details once you have your art business plan in place!

We’re currently accepting applications for our 2021 art fairs in Seattle, Los Angeles, San Francisco, New York City, and Washington, DC. Apply now!

The 17 Best Art Fairs in the US | The Only Guide to 2021 Art Fairs You Need

Creative marketing & social media for artists with kat from create magazine.

Artist Business Plan Template

Written by Dave Lavinsky

Artist Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their artist businesses. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an artist business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Artist Business Plan?

A business plan provides a snapshot of your artist business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Art Business

If you’re looking to start an artist business or grow your existing artist company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your artist business to improve your chances of success. Your artist business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Artist Businesses

With regards to funding, the main sources of funding for an artist business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for artist companies.

Finish Your Business Plan Today!

How to write a business plan for an artist business.

If you want to start an artist business or expand your current one, you need a business plan in the proper business plan format . The guide below details the necessary information for how to write each essential component of your artist business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of artist business you are running and the status. For example, are you a startup, do you have an artist business that you would like to grow, or are you operating a chain of artist businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the artist industry.
• Discuss the type of artist business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of artist business you are operating.

For example, you might specialize in one of the following types of artist businesses:

• Antiques: This type of artist business may include the restoration, curation, and auction of antique furniture and other items.
• Art Consultant: This type of artist business involves helping clients find and select art pieces for their own collections.
• Tattoo Artist: Tattoos are a popular way for artists to earn money by tattooing permanent ink art onto their customers.
• Photography: Photographers may specialize in certain categories like wedding photography or nature photography.
• Graphic design: This type of business encompasses all kinds of design from creating logos and marketing materials for businesses to creating websites and designing products.
• Art teacher: This type of artist business involves art instruction and can include anything from teaching an elementary school art class to a recreational painting class, or an online art course.

In addition to explaining the type of artist business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of art pieces sold, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the artist industry.

While this may seem unnecessary, it serves multiple purposes. First, researching the artist industry educates you. It helps you understand the market in which you are operating. Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends. The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your artist business plan:

• How big is the artist industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your artist business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your artist business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of artist business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other art businesses. Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This may include other sources of art pieces, auctions, or resellers. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of artist business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for your customers to engage with your product or service?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a artist business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of artist company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you sell paintings or sculptures, consult on various art pieces, instruct a painting class, etc?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your artist company. Document where your company is situated and mention how the site will impact your success. For example, is your artist business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your artist marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your artist business, including answering calls, meeting with clients, billing and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your artist business to a new city.  

Management Team

To demonstrate your artist business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing artist businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an artist business or successfully running a small curation business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you meet with 5 clients per day, and will you charge by the hour for art consultation services? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your artist business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a artist business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a sample of your artist portfolio.  

Writing a business plan for your artist business is a worthwhile endeavor. If you follow the sample template above, by the time you are done, you will have an expert artist business plan; download it to PDF to show banks and investors. You will understand the artist industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful artist business.

Don’t you wish there was a faster, easier way to finish your Artist business plan?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business planning advisors can create your business plan for you.

Other Helpful Business Plan Articles & Templates

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• Entertainment & Media

How to Wrtie an Artist business plan + Free Template

Are you an artist—oil painter, singer, makeup artist, or writer ready to turn your passion into a profitable business?

If yes, and about to start your own art business; wait a moment!

You will need to think about resources and funding for navigating the ins and outs of an artistic journey.

Also, you need to specify if there’s a significant market for your business to be successful, what potential customers expect from you, and who are your competitors.

However, having a solid business plan is an essential tool to answer all these questions, and this artist business plan will surely help you!

It will guide you through all the important aspects of an effective artist business plan. It not only fuels your creativity but also paves the way for a sustainable and prosperous artistic venture.

But before diving right into the plan; let’s find some interesting facts about the creative art industry.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

Creative Art Industry Outlook 2024

• The United States has been firmly holding its position as the leading global art market for the past few years, generating roughly 45% of the global sales value.
• The revenue of performing arts companies in the U.S. will amount to roughly $19,6 billion by 2024, while for independent artists, it will amount to approximately $23,1 billion .
• There are 71,828 people employed in the US musical groups and artists industry till 2023.
• The number of people increased 0.4% on average over the five years between 2018 and 2023.
• Zippia estimates that artists are 70% more likely to work at private companies as compared to public sectors.

Now, without further ado; let’s delve into the key components you need to include in your creative business plan.

Key Components of an Art Business Plan (w/ examples)

• Executive Summary
• Business Overview
• Market Analysis
• Product and Services
• Sales and Marketing Strategies
• Operations Plan
• Management Team
• Financial Plan

1. Executive Summary

An executive summary is the initial chapter intended to provide a quick overview of your entire artist business plan. It highlights the primary facts of your business, from art business ideas to financial projections.

Keep your summary concise and clear, use simple language, and avoid jargon as it quickly engages readers.

You can start by introducing the idea behind starting an art business and explaining what it does. For example, is it a startup, do you like to grow your business, or are you operating a chain of artist businesses?

Next, share a brief overview of how your art studio will be different from the rest. Provide a summary of each of the subsequent sections of your plan, such as:

• Describe the artist industry and the target market in brief.
• Represent the products or services you wish to offer.
• Give a snapshot of your marketing strategy.
• Name all the key members of your management team.
• Provide a summary of your financial projections.

After that, end your summary with a clear call to action, inviting potential investors or readers to the next meeting if they are curious about your business.

Generally, this section is written after the entire business plan is ready as you go through and draft all the important sections of your business plan.

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2. Business Overview

The business overview section provides detailed information about your art business, including ownership, legal structure, office location, business history, and other business-related facts.

Initially, you can draft all the foundational facts like:

• The name of your art business and the concept behind it, for example: do you need a makeup artist business plan, music artist business plan, or painter business plan, and what is the actual idea behind your artist business?
• The legal structure of your art business whether it is a S-Corp, LLC, sole proprietorship, or some other.
• Location of your art gallery and the reason why you selected that place.

After that, describe the owners of your business and mention their roles in running it. Emphasize the percentage of shares owned, and how each owner helps in the business. For example,

You can add a memorable, clear mission statement that sums up the objectives and core principles of your art studio. Also, include an outline of the business’s history and how it came to be in its current position.

If you want to, include some personality and interesting details, especially if you have any achievements or recognitions till now for your creative art.

Convey your aspirations and your clear vision. Highlight future business goals and if you have any plans of opening an art studio or hosting an art gallery opening.

3. Market Analysis

Next, dive into the art world as this chapter provides a clear understanding of the art industry, along with the target audience, competitors, and growth opportunities.

So, take some time to go further and identify your target market and define your ideal target customer. It will guide your artistic choices and marketing strategies.

Know more about your customers and which type of services they prefer: customized painting, greetings, invitation cards, poetries, songs, or anything else.

After that, give an overview of the art industry. It unveils necessary information about the market size and growth potential of the art market in which your business will run. :

Also, conduct detailed market research to identify direct and indirect competitors. Evaluate their strengths and weaknesses.

You can perform a SWOT analysis to find internal strengths & weaknesses of your artist business and external opportunities & threats in the market.

Based on that, outline unique selling points and competitive edge. Accentuate how your art is different from the rest of the arts, and explain how you can offer qualitative services.

Try to analyze emerging market trends in the industry, such as changes in customer preferences and explain how your art business will cope with all those trends.

You can describe any regulations or licensing requirements that affect your art business, such as safety codes, contracts, taxes, or something else.

Here is an example you can refer to draft regulations for your art business:

Operating within the art industry entails adhering to several regulations. 

These encompass [specific regulations, e.g., “safety codes for installation arts, contracts ensuring the rights and responsibilities of both artists and clients and taxation structures specific to art sales”]. 

Our studio is committed to upholding all necessary licenses and continuously stays updated on regulatory changes to ensure full compliance.

4. Product and Services

The product and services section of an art studio business plan should describe the specific services and products you will provide. It should be detailed, informative, and customer-focused.

Start this section by introducing the artist first, along with the art form they will be using, for example, paintings, sculpture, photography, sketches, customized services, greeting cards, or something else.

Describe the artist’s distinct aesthetic and style and explain how it distinguishes them from other professionals in the field.

You can also include the specific items the artist produces, such as their original works, sell paintings or their limited edition prints, or any pieces they have been commissioned to create.

Try to describe each product’s advantages and characteristics as well as how they appeal to the target market. Also, emphasize the importance of quality by including all the details about the raw material you will use.

Here, don’t forget to explain how your business will ensure that all services and products are delivered with the highest standards of efficacy.

5. Sales and Marketing Strategies

A successful sales and marketing plan involves a list of strategies you will use to attract and retain your potential customers.

Here are some key elements to include while writing your sales & marketing strategy:

Unique selling proposition (USP)

Clearly state the artist’s unique selling point, which should cover their taste, aesthetic, and the advantages of their products and services. Something needs to be said in a way that appeals to your intended audience.

Pricing strategy

Develop a pricing strategy that is competitive and affordable, yet profitable. Consider offering promotions, discounts, or packages for your products & services to attract new customers.

Marketing strategy

Draw out a marketing plan that can spread the word about your work and put yourself out there. You can include a mix of online and offline marketing channels.

Consider social media platforms, email marketing, content marketing, brochures, print marketing, and events.

You can take reference from the below example written using Upmetrics AI Assistant :

Sales strategies

Mention your sales strategy as an approach to turn potential buyers into clients by providing limited edition prints, discounts, and referral scheme discounts.

Customer retention

Describe how your art business will retain customers and build loyalty, such as through loyalty programs, special events, or personalized service.

6. Operations Plan

Next, you can craft a behind-the-scenes look into your artistic process and procedures.

This operations plan section paints a vivid picture of your creative endeavors, from your art studio setup to the tools and techniques you utilize.

First, you can explain how you go about creating your art, what tools and materials you require, and how long it takes to finish each piece.

If you collaborate with assistants or any other professional artist, provide details about their tasks and operational processes.

You can also describe your inventory management strategy, including your shipping, tracking, and storage methods. Mention how you’ll maintain track of your artwork and ensure that it’s transported and stored correctly.

7. Management Team

The management team section provides a brief overview of the individuals responsible for driving the art business and highlights that your business has the most suitable team.

You can introduce your team members including the artist, the artist manager, the booking agent, the publicist, the accountant, and the lawyer.

Even if you’re an unaccompanied artist, showcase the key individuals who support your creative journey.

Try to provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

You can also represent the organizational structure of the management team, including reporting lines and how decisions will be made. Here is an illustration of an organization chart using Upmetrics:

If you have a board of advisors/mentors who have contributed to your business growth, mention them along with their roles and experience.

Don’t forget to explain your compensation plan for the leadership team and staff, including salaries, bonuses, and other benefits.

8. Financial Plan

A well-structured and in-depth financial forecast is the most important section for potential investors, as it offers a clear insight into any capital or investment requirements, startup costs, projected revenues, and profits.

So, develop a precise summary of your financial projections for the initial years of operation. Highlight all the crucial facts investors require for informed, strategic decision-making.

For a successful artist business plan, you should include the following financial statements:

• Sales forecast
• Expense budget
• Profit and loss statement
• Cash flow statement
• Projected balance sheet
• Break-even analysis
• Business ratios
• Exit strategy

From the above, you can estimate how much finances you will need to start and operate your art business. Consider funding resources including bank loans, SBA-guaranteed loans, angel investors, or personal savings.

Here’s an example of a projected balance sheet for the next 3-5 years using Upmetrics:

9. Appendix

When writing the appendix section, you should include any additional details that support the main content of your business plan.

This may include financial forecasts, market research data, legal documents, and other relevant information.

• Enclose a table of contents for the appendix section to make it easy for readers to find specific information.
• Add financial statements such as income statements, balance sheets , and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market analysis reports, such as statistics on the size of the art industry, consumer demographics, and trends in the industry.
• Include any legal documents such as business licenses, permits, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily locate the information they need.

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With Upmetrics, you get easy-to-follow steps, customized business templates, 400+ examples of business plans, and AI support to make your business planning a lot simpler.

If you’re not good enough with financial formulas, Upmetrics helps you calculate accurate money forecasts for 3 years or more.

Whether you’re a beginner or trying to expand an existing one, Upmetrics is all you need to make a successful pro-business plan that matches your business goals.

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Frequently asked questions, how often should the business plan be reviewed and updated.

Review and update your artist business plan at least once a year or more often if there are significant changes in your business. It ensures your plan remains aligned with your artistic direction, market conditions, or goals.

What should be included in an Artist’s Business Plan?

A comprehensive artist business plan should include below key components:

• Sales and Marketing Plan

What kind of financial information does a business plan include?

In an artist’s business plan, the financial part includes startup costs,  income statement, cash flow statement, balance sheets, and break-even analysis. It offers a clear idea of your financial health, enabling investors to estimate the potential success of your artistic business.

Is it necessary to have business experience to create an artist business plan?

Business experience is beneficial but not mandatory to create an artist’s business plan. Many artists successfully draft business plans with a passion for their art and a willingness to learn.

Can the template help in planning for long-term career growth?

Yes, a well-written business plan template can undoubtedly help you in planning for long-term career growth. Include your artistic goals, market strategies, and financial predictions, as the template can be a strategic tool for envisioning and working towards sustained success throughout your journey.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Creative business plans for artists: what is a business plan for an artist

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• Who are my three biggest competitors?
• What products do my competitors offer?
• What makes my competitors' products unique?
• What are the strengths of my competitors?
• What strategies can I get from my competitors?
• What are the ways my competitors use to sell the product?
• What risks do my competitors pose to me?

Business ideas art: how to write a business plan for an artist

Complex finance issues: artist management business plan

• Resources : What do I need?
• Finance : How much do I need?
• What have I already had? 
• What do I need? 
• I have : a computer, internet connection, a desk and a chair, occasionally rented space, etc. 
• I need : Photoshop, better ideas for the competition, a copy of Protools software, and your own space either in your home or close to it; rehearsal/painting/carving space, etc. 
• What can I work without?
• Can I find a sponsor?
• Can I use crowdfunding?
• Can I get a scholarship or grant?
• Is it reasonable to use my own funds?

Artist business: makeup artist business plan

• What does my audience buy?
• Who are my potential clients?
• What do my clients need?
• What is in demand? 

Business plan for an art gallery: be part of a large community

What does it take to get interested in a gallery.

How to Write a Business Plan for an Artist’s Business

7 min. read

Updated January 24, 2024

Free Download:  Sample Arts and Crafts Business Plan Templates

“But how can I write a business plan? I’m an artist.”

He was one of my favorite students in the class I used to teach on starting a business. He had a delightful way of challenging assumptions, occasionally on the basis that art, by its very nature, was above—or perhaps immune—to cash flow. As a student, he was engaged, intelligent, and eager to learn; so yes, he was one of my favorites.

“What, you aren’t going to sell paintings?” I responded. “You don’t plan to pay your rent and other expenses? You don’t care if checks bounce?”

How you make money is at the heart of an artist’s business plan

He agreed, somewhat begrudgingly, that maybe an artist wanted to survive in the world like anybody else.

On reflection, he decided that he liked the idea of making a living without abandoning his art. In the end, he saw himself in a condition similar to the professional, like a bookkeeper or consultant, faced with the idea of doing what he loved, in conjunction with a plan.

In this case, being an artist meant creating paintings to be hung on walls. But “artist” can mean a broad range of related things, from fine art and (ugh, so crass) commercial art, to design, writing, acting, stand-up comedy, and even live art. I’m in favor of whatever works for you and in awe of people who actually manage to combine talent, passion, and hard word to make that work for them as a way of life. Hats off.

So how do you make a business plan and use it to optimize the business side of your art? Here are some suggestions.

The big idea—making money

The first big hurdle for the artist business plan is what they call the business model, or, if you don’t like the trendy buzzword, how you make money.

If you’re a performer, I assume it’s about gigs, managers, and that stuff. Or, it’s about selling your paintings, sculptures, or photographs. Maybe you’re okay with being the starving artist, but if not, it’s “show me the money.” Don’t discount the obvious—take a look at the results of a quick web search, in the illustration here, for  “where to sell my paintings.”

Don’t completely discount the related businesses. Writers teach literature, painters teach fine arts. There are galleries. There are websites buying, selling, and collecting art. You can be as creative with the business model as you are with your art. Stand-up comedy is a tough career, I hear, but there are people getting around the gatekeepers using YouTube and downloads.

One of my personal favorite artist-with-a-plan stories is the story of  Paul Anthony and Rumblefish.  He was a talented musician—a drummer who built a business around selling music rights for films and ads. He started from his dorm room at the University of Oregon in 1996; he sold his company, Rumblefish.com, for $27 million in 2015.

Eventually, you settle in on how you hope to make money. Talk to people about it, search the web, sample websites, ads, displays, prices—get as much how-to information as you can and settle in on what you’re going to try.

That is the heart of your artist business plan: how you make money.

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• Strategy and tactics

Strategy is focus. It’s as much about what you don’t do as what you do. Figure out where you are going to concentrate your business efforts. It could be as simple as what kind of work you sell, to whom, through what channels. Or it might be what kind of performance, and how you reach the gatekeepers. Think about what makes you different, who will buy from you, and what you sell to them.

With strategy set, you need tactics to execute. Tactics are decisions you make about pricing, channels, websites, social media, managers, agents, stores, overhead, allies, and so forth. Make sure your tactics match your strategy.

For more on strategy and tactics, check out  Strategy Is Useless without Execution  and  Strategic Plan for Your Business,  also here on Bplans. If you’re a  LivePlan  user, determining your strategy and tactics can be as simple and direct as filling out the pitch page in LivePlan, which defines market, strategy, tactics, and so forth. If not, strategy and tactics can be as easy as a few bullet points you set down and keep track of. You don’t have to include long eloquent texts to make a business plan for yourself. Just include what you need, and will use.

• Milestones and metrics

Think through some manageable and measurable milestones—goals—you’re going to meet along the way. It might be your first gig; your first painting sold; your first painting available through some website; your first YouTube video posted, or the 100th; or maybe reaching 500 likes or 1,000 followers; or getting on the Jimmy Fallon show. Try to spell it out, though, so you can aim for it and work toward it.

The metrics help you track progress. Units sold, gigs, unique visitors, conversion rates, viewers, likes, follows—avoid having a plan full of generalities only. Keep it concrete and specific so you can use it to guide yourself and optimize your business.

For more on that, read  Milestones Make Your Business Plan a Real Plan.  For a personal view of metrics, with some suggestions, read my post on my blog here at Bplans:  Magic of Metrics, Tyranny of Metrics.

• Essential business numbers

Although a lot of people fear forecasts, don’t. It’s easier to do essential forecasts than to run a business without them. A simple sales forecast can be extremely helpful for your business later, as you track actual results, compare them to the forecast, and analyze the difference. What went right? What went wrong? Where were you off? If you don’t lay out a  forecast  first, you lose the opportunity to follow up with the management of it.

And yes, I know, you’re an artist, that’s not what you do. It’s hard on the self-image, but it’s good for the bank balance. You can do it, and it will help you succeed. Consider this previous post:

Do a spending budget linked to the sales forecast. A lot of your spending—marketing activities, for example—ought to have a direct connection with the projected sales that will result. For more on that, try my recent post on my blog here at Bplans:  How to Do a Spending Budget.  That’s part of a whole series I finished recently, on  standard business plan financials.

And, most important, plan your cash flow. Make sure you have enough cash in the bank to pay your rent and other bills. Having enough sales is a critical first step, managing spending is next, and then make sure you have the full cash flow including things like loan repayment, buying inventory, and supplies. For more on cash flow, try this post:  How to Forecast Cash Flow.

Remember: It’s planning that matters, not just the plan

The point of the business plan for most artists isn’t just having the plan; it’s using it to optimize your business. Expect your plan to change often. It’s a cycle that starts with the first plan and continues from then on, as long as you are in business. I call it P-R-R-R, as in the illustration here on the right.

Use it like a dashboard, a tool for checking your progress against goals, for tracking results, and doing regular course corrections. Think of it as a business navigation system, which includes destination, route, and—with regular review and revisions—real-time information to adjust the route as you go.

Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.

Table of Contents

• The big idea—making money
• Remember: It’s planning that matters, not just the plan

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How to Start an Art Business – An Easy Guide for Aspiring Artists

Are you ready to turn your passion for art into a thriving business? Embarking on the journey of starting an art business is like stepping into a colorful canvas of possibilities. From crafting captivating pieces to navigating the art market’s intricate brushstrokes, this adventure promises a blend of creativity, strategy, and a dash of entrepreneurial spirit. Get ready to unleash your artistic vision and dive into the exciting world of building your own art empire!

Table of Contents

• 1 Key Takeaways
• 2.1 Clarifying Your Mission and Business Goals
• 2.2 Establishing Your Brand and What It Stands For
• 2.3 Conducting Market Research
• 2.4 Analyzing Competition
• 2.5 Creating Your Financial Plan
• 3.1 Registering Your Business
• 3.2 Understanding Taxes and Finances
• 3.3 Setting Up Operations
• 4.1 Building an Online Presence
• 4.2 Developing Pricing and Sales Tactics
• 4.3 Building a Loyal Customer Base
• 4.4 Expanding Your Market Reach
• 4.5 Staying Informed and Adapting to Change
• 5.1 Curating Your Product Line
• 5.2 Nurturing Customer Relationships
• 5.3 Operational Efficiency and Growth
• 6.1 What Strategies Can I Use to Start an Art Business from Home With Limited Resources?
• 6.2 How Much Initial Investment Is Typically Required to Launch an Art Business?
• 6.3 What Are Some Viable Avenues for a Beginner to Sell Art and Start an Art Business?

Key Takeaways

• Crafting a clear business plan is essential for direction and growth.
• Legal and logistical preparations underpin a stable art business framework.
• Effective marketing and relationship-building are pivotal for long-term success.

Developing Your Art Business Plan

Starting an art business is a venture that requires careful planning and dedication. This process begins with a comprehensive understanding of your target market and the development of a unique artistic identity. By analyzing the art industry’s trends and consumer behavior, aspiring entrepreneurs can tailor their strategies to carve out a niche for themselves. A good business plan is not only a roadmap for guiding your business to growth but is also essential for navigating through the complexities of the art market.

Operating a successful art business also involves handling the logistical aspects, such as legal requirements, licenses, and the effective management of inventory and finances. The artistic aspect of the venture must be complemented with strong marketing and sales strategies. Pricing artworks strategically and promoting them effectively to build a loyal collector base are key elements to making the business thrive. Consistency in quality and service, alongside networking and word-of-mouth marketing, plays a crucial role in establishing a successful art career.

Clarifying Your Mission and Business Goals

An art business plan should start with a clear mission statement that defines the purpose and direction of the business. The mission should encompass not only the artistic vision but also the business objectives.

Business goals should be specific, measurable, attainable, relevant, and time-bound (SMART), setting a clear trajectory for growth and profitability.

Establishing Your Brand and What It Stands For

Building a brand identity involves more than just a memorable logo; it’s about cultivating a unique selling proposition that sets the art business apart. This requires a deep understanding of the target market and how the business’s art addresses their needs and preferences. Branding extends to every aspect of the business, from the art itself to customer service and marketing materials.

Conducting Market Research

Comprehensive market research is fundamental in identifying the target market and understanding market trends. This research should consist of analyzing data on potential customers, their purchasing habits, and preferences related to art. Data collection methods can range from surveys and interviews to studying industry reports.

This information is pivotal in guiding business decisions and marketing strategies.

Analyzing Competition

An art business must understand the landscape of its competition to succeed. This involves identifying direct and indirect competitors and critiquing their strengths and weaknesses. A competitive analysis should reveal gaps in the market that the business can exploit and inform the development of competitive strategies.

Creating Your Financial Plan

Lastly, a thorough financial plan is critical. This includes startup costs, ongoing expenses, pricing strategies, and revenue projections. The financial plan should outline required funding sources, strategies for maintaining cash flow, and long-term plans for financial sustainability and profitability.

It should also include a break-even analysis to determine when the business will likely become profitable.

Legalities and Logistics

Navigating the formalities of starting an art business is crucial. Artists must ensure that their venture is legally sound and operationally efficient by addressing business registration, tax obligations, and operational setup.

Registering Your Business

For any artist turning their passion into a business venture, choosing a business structure is the first step. The choice between a sole proprietorship, limited liability company (LLC), or a corporation influences liability, taxes, and compliance requirements. They should then register the chosen entity with the secretary of state. Most businesses will require a business license, which varies depending on location and industry. Art businesses may also need specific licenses and permits to operate legally.

When considering the structure for your art business, several options can suit your needs.

A sole proprietorship is the simplest to establish, although it exposes the owner to personal liability. Opting for an LLC provides liability protection but involves a bit more complexity in setup. On the other hand, forming a corporation is ideal for larger enterprises with shareholders, offering distinct advantages in terms of structure and governance. Choose the structure that aligns best with your business goals and growth plans.

To kickstart your art business officially, follow these key steps in the registration process. Begin by checking the availability of your chosen business name to ensure uniqueness and compliance. Next, file the necessary registration documents with the secretary of state, laying the legal foundation for your enterprise. Don’t forget to secure any required licenses and permits, ensuring that your business operates smoothly within legal frameworks. With these steps completed, you’re ready to embark on your artistic journey with a solid legal footing.

Understanding Taxes and Finances

Art businesses must obtain an Employer Identification Number (EIN) from the IRS, which is essential for tax purposes, especially if the business hires employees. Understanding the distinction between personal expenses and business expenses is vital for tax reporting and deductions. Artists should separate finances by opening a business bank account, ensuring transparency and simplifying accounting. Staying informed about tax obligations, including income, self-employment, and sales tax, ensures compliance and financial health.

Setting Up Operations

Operational logistics involve organizing the backend of an art business to create a smooth workflow. Ensuring compliance with state and federal regulations is part of this process. An art entrepreneur must establish clear operational protocols for production, inventory management, shipping, and receiving. Depending on the scale of the business, this might require setting up a studio or workshop space that complies with local zoning laws and safety standards.

To ensure smooth operations for your art business, follow this essential checklist.

First, establish a dedicated studio or workspace where your creativity can flourish. Next, focus on producing and managing your inventory efficiently to meet demand and optimize resources. Finally, set up effective shipping and receiving protocols to ensure timely delivery and customer satisfaction. With these key elements in place, your art business can thrive with organized and streamlined operations. By addressing these legalities and logistics, artists lay a solid foundation for their art business, positioning themselves for success in the competitive market.

Marketing and Sales Strategies

Marketing and sales strategies are crucial for turning artistic talent into a profitable venture. A robust approach involves establishing a strong online presence, developing effective pricing and sales tactics, cultivating a loyal customer base, and expanding market reach while being adaptable to change.

Building an Online Presence

Artists must leverage online platforms to showcase and sell their work. A professional website, preferably built with a reliable website builder like Wix, should elegantly display the artist’s portfolio. Integrating an online store and utilizing social media platforms for promotion are key.

Regular blogging and sending out newsletters can help in keeping the audience engaged.

Developing Pricing and Sales Tactics

Determining the right price for artwork involves a calculated pricing strategy that considers costs, market value, and target customers. Artwork must be priced competitively yet ensure a fair profit. Sales can be augmented through various sales channels including Etsy, personal websites, and local art fairs.

Building a Loyal Customer Base

To nurture a loyal customer base, artists should focus on branding and customer experience. Engaging with customers through social media, appreciating their purchases, and providing excellent after-sales support can foster loyalty.

Referral programs and exclusive offers for repeat buyers are effective tactics.

Expanding Your Market Reach

Expansion of market reach might involve exploring new sales channels or tapping into different demographics. Participation in local art fairs and exploring wholesale options are examples. Paid advertisements and collaborations with influencers can also increase visibility.

Staying Informed and Adapting to Change

The art market is dynamic, and successful artists stay informed about industry trends. They adjust their marketing strategy according to the latest marketing tools and customer preferences.

This might involve updating pricing, trying new promotional techniques, or exploring fresh marketing channels.

Managing Your Art Business

Successful art business management hinges on curating an exceptional product line, developing robust customer relationships, and implementing operational efficiencies for sustained growth.

Curating Your Product Line

An artist’s portfolio is the backbone of their art business. To ensure a strong product line, they must assess the quality and diversity of their artwork. It is essential to have a mix of original art, art prints, paintings, sculptures, and even greeting cards to cater to a wider audience. Inventory management is crucial, and keeping track of stock levels helps in preventing oversupply or stockouts.

Maintaining a high standard of quality across all products reinforces the art brand’s reputation.

Nurturing Customer Relationships

Customer service should never be an afterthought in an art business. A loyal customer base is built through excellent service, responsive communication, and reliable shipping practices. Tailoring services such as art classes or consultations can enhance the value offered to clients. Further, an art business should have a recognizable logo and a clear positioning strategy that serves as its unique selling proposition, aiding in cultivating a strong, trustworthy relationship with customers.

Operational Efficiency and Growth

Scaling an art business involves not just creative talent, but also operational savvy. Integrating systems for better handling of orders, shipping, and inventory can streamline the business and allow for more time to be spent on producing art. Exploring art business ideas like online marketplaces, partnerships, and social media can provide avenues for expansion. An art brand should be agile, constantly evaluating its growth strategies to adapt to the ever-evolving market.

As you wrap up your artistic odyssey into the realm of entrepreneurship, remember that starting an art business is not just about selling artworks—it’s about cultivating a brand, connecting with your audience, and continuously evolving as an artist. Embrace the challenges as opportunities for growth, stay true to your creative vision, and let your passion for art fuel your journey towards success. With a palette of perseverance and a canvas of innovation, your art business can flourish, leaving a lasting impression on the vibrant tapestry of the art world. Cheers to your artistic endeavors and may your business thrive like a masterpiece on display!

Frequently Asked Questions

What strategies can i use to start an art business from home with limited resources.

One can start an art business from home by crafting a clear business plan that outlines the artistic identity, target market, and financial goals. Leveraging free or low-cost online marketing tools like social media can also be a strategic way to reach potential customers without a significant upfront investment.

How Much Initial Investment Is Typically Required to Launch an Art Business?

The initial investment for launching an art business varies. It can range from a few hundred to several thousand dollars, depending on factors such as studio space, materials, marketing, and necessary equipment. Artists should prepare a budget to anticipate these costs and manage their resources effectively.

What Are Some Viable Avenues for a Beginner to Sell Art and Start an Art Business?

Beginners can explore selling their art through online marketplaces, social media platforms, local art fairs, and community events. Creating a professional website can also provide a centralized platform for showcasing and selling their work. Networking with other artists and connecting with galleries interested in emerging talent are additional avenues to consider.

Isabella studied at the University of Cape Town in South Africa and graduated with a Bachelor of Arts majoring in English Literature & Language and Psychology. Throughout her undergraduate years, she took Art History as an additional subject and absolutely loved it. Building on from her art history knowledge that began in high school, art has always been a particular area of fascination for her. From learning about artworks previously unknown to her, or sharpening her existing understanding of specific works, the ability to continue learning within this interesting sphere excites her greatly.

Her focal points of interest in art history encompass profiling specific artists and art movements, as it is these areas where she is able to really dig deep into the rich narrative of the art world. Additionally, she particularly enjoys exploring the different artistic styles of the 20 th century, as well as the important impact that female artists have had on the development of art history.

Learn more about Isabella Meyer and the Art in Context Team .

Cite this Article

Isabella, Meyer, “How to Start an Art Business – An Easy Guide for Aspiring Artists.” Art in Context. April 4, 2024. URL: https://artincontext.org/how-to-start-an-art-business/

Meyer, I. (2024, 4 April). How to Start an Art Business – An Easy Guide for Aspiring Artists. Art in Context. https://artincontext.org/how-to-start-an-art-business/

Meyer, Isabella. “How to Start an Art Business – An Easy Guide for Aspiring Artists.” Art in Context , April 4, 2024. https://artincontext.org/how-to-start-an-art-business/ .

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10 Things to Know When Learning How to Start an Art Business

• Last Updated: May 5, 2024

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It’s hard to learn how to start an art business when you’re confused, scared, or both. Since I’ve been in your shoes before, I want to make the process a little easier so you can get selling.

I’ve been working as a commercial illustrator and designer for about a decade now and I have quite a few areas I stumbled through.

I’ll share some important starting points I wish I knew – or did more efficiently – when I started out.

The Key Elements to a Successful Art Career

Financial and social independence from a traditional nine-to-five, more creative fulfillment in your career, an additional source of income, selling original paintings, starting an online shop, becoming an active content creator, 3. a business plan will keep you focused, register with your local licensing department in the united states, register permits and/or licenses in canada, paypal is one of the most common payment methods, wise is a reliable international transfer system, stripe is a well-known online payment portal, start by understanding common contract clauses, try out a boilerplate contract or hire a contract lawyer, get a contract signing program or software, tax withholding is part of a successful business, consistent recordkeeping will be your savior, squarespace, hire a web designer, inbound marketing, outbound marketing – how to start an art business, word-of-mouth and networking, inventory management software, customer relationship management, accounting software – how to start an art business, starting an art business is hard, but far from impossible .

• Remind Yourself Why You Want to Start an Art Business
• It’s Vital to Narrow Down the Art Business You Want to Start
• A Business Plan Will Keep You Focused
• You’ll Need a Business License (Or Equivalent)
• Start Researching Different Payment Types
• Become Comfortable With Reading and Crafting Contracts
• Don’t Be Afraid of Tax Season (Trust Me, I Know)
• You’ll Need a Simple, Mobile-Friendly Website
• Most of Your Work Will Come Down to Marketing and Word-Of-Mouth
• Start Researching Tools to Make Running a Business Easier

1. Remind Yourself Why You Want to Start an Art Business

The why part of your art business is a non-negotiable element of success. When you’re struggling to make money or stand out in a sea of similar artists, the ‘why’ will keep you afloat during the ups and downs.

Around 18% of small businesses fail in their first year , while another 50% will fail after the first five years. One of the most common reasons for these statistics is running low on money or struggling to stand out amid similar businesses.

Below are a few common reasons why artists will start their own art business, but keep in mind this is just a starting point. Your reasons could be entirely different and that’s a-okay.

Are you sick of long commutes or creatively stifling traditional employment environments? Unsurprisingly, nearly 30% of people who started a small business did so because they wanted to be their boss .

Other benefits you’ll enjoy once you step out of the corporate world is:

• Setting your schedule – work when you want, how you want
• Charge your prices and get more control over your income
• Better work-life balance such as more sleep and more time off

The flip side to this is how much responsibility is on your shoulders. You have to commit to a regular marketing strategy, study your industry, and commit to your decision despite all odds.

Another common reason to consider being a professional artist is to enjoy your work. If you have more fun running social media accounts and painting all day long, that’s reason enough to make the switch.

Job dissatisfaction is at an all-time high lately, with one recent study finding 50% of people are unhappy with their jobs on a daily basis. Your artwork could be the launching pad for more peace of mind and financial stability.

However, there’s nothing wrong with choosing an art career for side income instead of main income. When you do art full-time, it can be difficult to take a break from client work to work on creative projects, which can lead to burnout if you’re not careful.

You’re not a lesser artist if you seek out an art business to make a bit more money. It’s never been easier to supplement your monthly income selling art prints or merchandise .

• Making crafts on Etsy such as knitted blankets or clay pots
• Selling original paintings
• Crafting custom figure sculptures
• Painting digital art to sell on crewneck sweatshirts and t-shirts
• Designing banners, icons, and templates for web designers

Now, you’ll likely have irregular income for the first year or two before you start building a reliable target audience. Even experienced artists can struggle to make consistent income from selling art online, so going in with reasonable expectations can soften the sting.

2. It’s Vital to Narrow Down the Art Business You Want to Start

Your own business will have unique demands (though there are commonalities to art businesses, too). Below are a few examples of different types of art businesses and what to expect.

If you’re a traditional painter who wants to sell paintings, you could work from your own home or be featured in exhibits with other artists .

Your art business would need to take into account:

• Studio space – do you have room to store all your paintings and supplies?
• Shipping costs – this will shave a percentage off what you make
• Potential tax – this percentage changes depending on where you live

Perhaps you’re more interested in selling prints and merchandise in an online shop like Redbubble , Etsy, or Printful .

Your challenges in running a successful art business would look more like the following:

• Potential sales tax – print-on-demand sites generally take care of this, but you should still be aware so you know how much you’ll make
• Managing an email marketing list – this is a very helpful marketing tool
• Using multiple marketing tools – you’ll also need to consider blogging, a social media account, or SEO to reach your audience

An increasingly popular choice for artists today is becoming a content creator – this can look like active content creation via a Patreon or a social media account like TikTok.

• Live streaming tools – lighting, camera, a mic
• Familiarity with social media platforms – posting schedules, culture, and terms of service

The function of a business plan is the guiding star to your business’s metaphorical ship. Just like your ‘why’ helps you keep going on an emotional level, a business plan will guide you to tried-and-true methods to financial success.

Here’s one example of using a business plan to cement your target audience and how you’ll maintain a competitive advantage.

4. You’ll Need a Business License (Or Equivalent)

A successful art business needs to stay legally viable and that often takes the form of a license. I renew my license every year with my state’s licensing department after filling out brief online paperwork.

However, this step varies from country to country, so I’ll use a few examples:

Since I live in the United States, each state usually requires a license through the state’s licensing department. The fee will vary and you usually only have to renew your license once per year.

Depending on where you live and what kind of business you’re starting, you may need a mixture of permits and licenses in Canada. Similar to the States, the price and frequency of renewal will depend on the business you’re running.

It’s easy to get intimidated when it comes to paperwork and legal documents, but just ask a representative for help. You can chat with someone over the phone, do a video call, or sit down in person with a professional who will answer all your questions.

5. Start Researching Different Payment Types

Once you’ve started applying for licenses and permits, you can start looking into payment types. There’s more flexibility than ever in getting paid these days, but below are a few more common methods.

PayPal is one of the most widely used online payment processors, particularly for artists. I depend on it for the majority of my income since it’s used by nearly everyone these days.

However, PayPal is a little brutal when it comes to fees – they do fixed fees ranging from 2.59% to 3.09% for merchant and personal accounts. While they don’t charge anything to transfer money from one PayPal account to the next, transferring from other bank accounts or payment processors will cost you.

Another useful transfer system is Wise, most commonly used by people who have clients in other countries. They also charge much lower fees than PayPal.

Wise requires you to submit the details of a separate bank account, including a checking account where they can instantly deposit cash. These details won’t be seen by clients, so there’s no worry about your private information being leaked.

Last but not least, Stripe is a flexible online payment portal that’s becoming more commonly used. They not only accept many currencies, but you can transfer money between many payment portals, too.

One of their biggest barriers is their limited in-person payment options. They’re more useful as an online tool for artists who do most – or all – of their business digitally .

6. Become Comfortable With Reading and Crafting Contracts

Contracts aren’t a fun part of your art career, but they’re an essential part of building client relationships and staying legally protected. Even a simple contract or NDA is a good starting point to make sure all parties know what’s being made, why, and with what usage rights.

Put simply, a clause is any section of a contract that outlines a duty, deadline or need. Some of the most common clauses you’ll see in artist contracts are:

• Deadline – when is the project due?
• Communication – how will the artist and client stay in touch?
• Materials – what does the client need to give the artist to do the job?
• Usage Rights – what is the client allowed to do with the art? What about the artist?

Hiring a contract lawyer is a stress-free way of getting all your legal ducks in a row. If you can’t afford one – they can cost between $20 to $200 an hour – you can start off with a boilerplate.

Boilerplate contract templates list several of the legal basics in one generic document. You can then customize it to suit the needs of your state license and personal demands.

Need a starting point? Try Law Depot for free legal documents, forms, and contracts for artists .

There are many ways to sign a contract, though digital means are easily the most convenient. You can use signing programs like eSign or sign .pdfs with Adobe Acrobat.

7. Don’t Be Afraid of Tax Season (Trust Me, I Know)

One of the biggest reasons why artists are hesitant to go the self-employed route is self-employed taxes. Below are a few details you should know about to start off right.

Every dollar you make in the art world isn’t yours. In the United States, you have to slice out a small chunk of your income to pay self-employed taxes – quarterly or through a customized interval.

Depending on where you live and the business you run, you may need to hold between 20% to 30% of your income for self-employed taxes. This is one of many reasons to learn how to price your art so you can make a tidy profit.

Don’t ‘wing it’ or keep sticky notes when it comes to personal finances. I keep a spreadsheet of every single dollar I make – before and after fees – and sum up the total every month so I stay accurate.

Many artists use recordkeeping software such as QuickBooks, which can automatically download bank information or print financial statements for loans.

8. You’ll Need a Simple, Mobile-Friendly Website

Did you know at least 52% of all web traffic comes from a mobile device like a phone or tablet? If your website doesn’t function or look good on mobile, you could be missing out on half of your potential customers.

Free and easy to use, Wix is one of the go-to choices for artists who need a polished art website. Their drag-and-drop technology makes it easy to organize fonts, images, and templates into the site you’ve always wanted.

While they have no free versions, they have a flexible trial you can add an extra week onto if you need more time to decide. Check out their pricing and features here .

There are several benefits to hiring a web designer that are not possible with free or pre-made templates. You’ll get a unique site layout and plenty of control over the little details, such as animations or layout.

However, web designers cost far more than a free web builder or monthly subscription.

9. Most of Your Work Will Come Down to Marketing and Word-Of-Mouth

People can’t hire you if they don’t even know about you. Even the most skilled professional artists will struggle to get work without the following marketing efforts.

Inbound marketing is a term that refers to people finding you, rather than you reaching out to people. If you’ve ever punched a question into Google to find a product, you already know how this works.

• Social media sites
• Online store

The opposite of inbound marketing is the more traditional outbound, where you reach out to your target customer to see if they’re interested.

• Sharing business cards
• Calling over the phone
• Sending out emails

These two words may be the bane of introverts, but they’re a must-have in the art industry. Whether you like to visit art fairs or want to sell products online, word-of-mouth and networking increase your chances of regular income.

Generating positive word-of-mouth can be done by simply being reliable and friendly. Networking can involve visiting art fairs or just talking to people on social media.

10. Start Researching Tools to Make Running a Business Easier

Don’t feel like you have to do it all. A few tools can be an absolute lifesaver with the stresses of starting a business.

If you’re thinking of starting an online business that involves packaging and sending out goods, inventory management software will save you a headache. This useful tool will improve accuracy, track packages, and create a better customer service experience overall.

SquareUp is one tool you can try, especially if you want to sell clothes, furniture, or tattoo designs.

When you need help keeping track of potential customers or reaching out to repeat customers, a contact management system will shoulder the work for you. Also known as a CRM, these programs keep track of emails and different types of customers such as prospects and leads.

A prospect is a person in your target market that may benefit from your business. A lead is a person who’s already shown interest in your work, such as contacting you or following you on social media.

HubSpot has a free CRM I use regularly (alongside very helpful online digital marketing courses).

As touched on above in the tax section, accounting software is useful for tracking taxes as well as budgeting. For example, FreshBooks has a freelancer variation you might find useful.

From narrowing down your target audience to learning how to start selling products, starting an art business is hard. I’m living proof that it’s far from impossible!

Want to continue expanding your education on your way to a successful career? Check out our top three alternatives to an art school education here .

Related posts:

• How to Write an Artist Contract: Learn To Protect Your Creative Rights
• How to Make Money as an Artist: 12 Cool Ideas
• How to Sell Digital Art Online for Complete Beginners
• 20 Art Business Ideas to Help You Make Money (and Enjoy It!)
• The Top 10 Best Print-on-Demand Sites for Artists

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How to Start a Profitable Art Business [11 Steps]

By Nick Cotter Updated Feb 05, 2024

Business Steps:

1. perform market analysis., 2. draft a art business plan., 3. develop a art brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for art., 6. open a business bank account and secure funding as needed., 7. set pricing for art services., 8. acquire art equipment and supplies., 9. obtain business insurance for art, if required., 10. begin marketing your art services., 11. expand your art business..

Starting an art business requires a thorough understanding of the market to identify potential customers, competitors, and trends. A well-conducted market analysis can provide invaluable insights that will help in tailoring your business strategy to meet the demands of the art industry. Here are some steps to guide you through the process:

• Research your target audience: Understand who is likely to purchase your art, including their demographics, interests, and buying habits.
• Analyze your competition: Look at other art businesses, noting what they offer, their pricing, and how they market themselves.
• Identify market trends: Stay up-to-date with the latest trends in the art world, such as popular styles, emerging artists, and shifts in consumer preferences.
• Evaluate pricing strategies: Consider how art is priced in the market and how you can competitively position your artwork.
• Assess market size and potential growth: Estimate the size of the market for your art and the potential for growth in the niche you are targeting.
• Explore sales channels: Investigate various platforms and venues where art is sold, such as online marketplaces, galleries, art fairs, and social media.

Are Art businesses profitable?

Yes, art businesses can be profitable depending on the type of business, the demand for the artwork, and the overall business model and strategy. Profitability depends on factors such as the cost of labor, materials, and overhead expenses, as well as the marketing and sales strategies used to promote the artwork.

Creating a well-structured art business plan is essential for setting clear goals and mapping out the path to success. It serves as a comprehensive guide for your artistic venture, detailing the roadmap from concept to market. Here's a concise guide to help you draft an effective art business plan:

• Define your art business mission and vision, outlining what you aim to achieve and why it matters.
• Identify your target market, including demographics, preferences, and purchasing behavior.
• Analyze the competition to understand their strengths and weaknesses and find your unique selling proposition (USP).
• Detail your art portfolio, including styles, mediums, and themes that you will offer.
• Outline your marketing and sales strategies, how you plan to promote your art, and the channels you will use to reach your audience.
• Develop a financial plan, including startup costs, pricing strategy, sales forecast, and break-even analysis.
• Set clear objectives and milestones to measure your progress and adjust your strategies accordingly.
• Discuss the operational plan, including the production process, suppliers, studio space, and equipment needs.

How does a Art business make money?

An art business typically makes money by selling the artwork, either through exhibitions, art galleries, online stores, or directly to customers. Depending on the type of art business, it may also make money through commissions, classes, workshops, private tutoring, or licensing their artwork for use on other products.

Developing an art brand is crucial for distinguishing yourself in a crowded marketplace and connecting with your target audience. It's about creating a unique image and consistent message that resonates with your customers. Here are some key points to consider when building your art brand:

• Identify your unique selling proposition (USP) that sets your art apart from others. This could be your technique, subject matter, or personal story.
• Create a memorable brand name and logo that reflects your art style and personality, ensuring it's recognizable across all platforms.
• Establish a consistent visual and verbal brand message across your website, social media profiles, business cards, and packaging.
• Understand your target audience and tailor your branding to speak directly to their preferences, interests, and needs.
• Use a consistent color palette and typography in your branding materials that align with the emotions and aesthetics of your art.
• Regularly share your creative process, inspirations, and the stories behind your artwork to build a personal connection with your audience.
• Protect your brand's integrity by trademarking your brand name and logo, ensuring your intellectual property is legally safeguarded.

How to come up with a name for your Art business?

Coming up with a name for your Art business can be a daunting task. It is important to consider a name that reflects the style of art you are creating, as well as something that is memorable, unique and descriptive. Brainstorming with friends and family can be a great way to generate ideas. Additionally, using online tools, such as a thesaurus or a name generator, can help you to find the perfect name for your Art business.

Once you've crafted your business plan and decided on the structure of your art business, the next crucial step is to formalize your business registration. This will legitimize your business, protect your personal assets, and help you to operate within the legal framework. Here’s how to get started:

• Choose a business name: Select a unique and meaningful business name that complies with your state's naming rules.
• Determine the legal structure: Decide whether your art business will be a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different legal and tax implications.
• Register with the state: File the necessary paperwork with your state's Secretary of State office or business agency. This typically involves submitting your business name, structure, and other details.
• Obtain an Employer Identification Number (EIN): If needed, apply for an EIN from the IRS for tax purposes, especially if you plan to hire employees.
• Register for state and local taxes: Depending on your location and business structure, you may need to register for state taxes, sales taxes, and obtain any necessary permits or licenses.
• Understand your responsibilities: Stay informed about ongoing compliance requirements, such as annual reports and renewals, to keep your business in good standing.

Resources to help get you started:

Explore crucial resources designed specifically for art entrepreneurs, featuring industry insights, operational strategies, and growth advice:

• Art Business News: A publication offering updates on market trends, artist profiles, and business strategies for art entrepreneurs. https://artbusinessnews.com/
• The Art Newspaper: Provides comprehensive news, reviews, and analysis on the art world, useful for keeping up with global market trends. https://www.theartnewspaper.com/
• Artsy: Besides showcasing art, Artsy offers articles and resources on the business side of art, including tips on marketing and online sales. https://www.artsy.net/
• Art Market Monitor: Features analyses of market trends and forecasts, beneficial for strategic planning. https://www.artmarketmonitor.com/
• Creative Boom: Focuses on the creative side but includes valuable resources for entrepreneurs on marketing, business development, and more. https://www.creativeboom.com/
• The Abundant Artist: Offers courses, coaching, and content aimed at helping artists earn from their work and grow their businesses. https://theabundantartist.com/

Before you can officially start your art business, it's crucial to ensure you have all the necessary licenses and permits. This step is key to operating legally and avoiding any potential fines or business disruptions. Here's a guide to help you navigate the process:

• Research local regulations: Check with your city or county government to understand the specific licenses and permits required for an art business in your area.
• Business License: Apply for a general business license, which is the primary permit that allows you to operate a business in your city or county.
• Sales Tax Permit: If you plan to sell your artwork, you may need a sales tax permit to collect sales tax from customers.
• Home Occupation Permit: If you're operating your business from home, this permit ensures that your business activities comply with local zoning laws.
• Professional Licenses: Depending on the scope of your art services, you might need specific professional licenses (e.g., if you offer art classes).
• Special Event Permits: If you attend art shows or fairs, you might need temporary permits for each event.
• EIN Registration: Although not a permit, obtaining an Employer Identification Number (EIN) from the IRS is essential if you plan to hire employees.

What licenses and permits are needed to run a art business?

The specific licenses and permits required to run an art business will vary based on the location and type of business. Generally, businesses are required to have a business license, sales tax permit, and any other permits or licenses required by the state. Depending on the type of art business and services offered, artists may need additional licensing, such as special permits to sell their work in public spaces or to hang artwork in museums. Additionally, some local municipalities may require additional permits for businesses operating within their city limits.

Once you've laid the groundwork for your art business, it's crucial to establish a solid financial foundation. Opening a business bank account separates your personal and business finances, providing clarity and professionalism. Securing funding, if needed, can help you cover startup costs and keep your business running smoothly. Here are some key steps to consider:

• Shop around for a business bank account that suits your needs. Consider fees, services, and convenience, and look for accounts tailored to small businesses.
• Gather required documents such as your business license, EIN (Employer Identification Number), and personal identification to open your account.
• Explore different funding options like small business loans, grants, crowdfunding, or angel investors, depending on the scale and needs of your art business.
• Prepare a compelling business plan to present to potential lenders or investors, showcasing the potential profitability and growth trajectory of your art business.
• Consider a business credit card to manage expenses and possibly earn rewards on purchases.
• Keep track of all financial transactions and set aside money for taxes to avoid surprises at the end of the fiscal year.

Setting the right price for your art services is crucial as it affects how customers perceive the value of your work and determines your business's profitability. As you embark on this step, consider the cost of materials, time, your skill level, and market rates to establish fair and competitive prices. Below are key points to guide you in this process:

• Cost of Materials: Calculate the total cost of materials used to produce each piece and ensure this is covered in your pricing.
• Time Investment: Consider the amount of time spent on each piece and set a reasonable hourly wage for yourself. Multiply this by the hours worked to get a labor cost to include in your pricing.
• Experience and Expertise: Factor in your level of experience and expertise. As you gain recognition and your skills improve, you can justify higher prices.
• Market Analysis: Research what others in the market are charging for similar services. This will help you determine a competitive yet fair price point.
• Profit Margin: Decide on a profit margin that allows for sustainable business growth while remaining attractive to customers.
• Flexibility: Be prepared to adjust prices as you receive feedback and as the market evolves. Flexibility is key to staying competitive and profitable.

What does it cost to start a Art business?

Initiating a art business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $10500 for launching such a artbusiness. Please note, not all of these costs may be necessary to start up your art business.

Starting an art business requires not just talent and vision, but also the right tools and materials to bring your creations to life. Acquiring quality art equipment and supplies is essential to ensure you can produce work that meets your standards and satisfies your clients. Below are some key points to consider when equipping your art studio:

• Identify Your Medium: Purchase supplies specific to your primary art medium, whether it's oil paints, acrylics, watercolors, charcoal, or digital art software.
• Quality Over Quantity: Invest in high-quality core items that will last longer and provide a better finish, rather than stocking up on cheaper, lower-grade supplies.
• Research Suppliers: Compare prices and reviews of different suppliers to find the best deals on art materials without compromising on quality.
• Essential Tools: Ensure you have all the necessary tools for your art form, such as brushes, canvases, easels, palettes, or graphic tablets.
• Bulk Purchases: Consider buying non-perishable items in bulk to save money in the long run, especially if you use them frequently.
• Eco-Friendly Options: Explore sustainable and eco-friendly art supplies to appeal to environmentally conscious consumers.
• Inventory Management: Keep an inventory of your supplies to track usage and know when to reorder before you run out.

List of Software, Tools and Supplies Needed to Start a Art Business:

• Design Software: Adobe Photoshop, Adobe Illustrator, CorelDraw, Gimp
• Printing Tools: Printer, Ink, Paper
• Marketing Tools: Website, Social Media, Email Newsletter
• Business Tools: Accounting Software, Project Management Software
• Supplies: Art Supplies, Canvas, Brushes, Paint

Securing business insurance is a critical step in protecting your art business from potential risks and liabilities. Whether you're a gallery owner, an independent artist, or running an online art shop, the right insurance can safeguard your investment and provide peace of mind. Here's how to go about obtaining the appropriate coverage:

• Research different types of insurance policies, such as general liability, professional liability, property insurance, and product liability, to determine which ones are pertinent to your art business.
• Consult with insurance agents or brokers who specialize in art or small business insurance to get tailored advice and competitive quotes.
• Evaluate the value of your art inventory, supplies, and equipment to ensure your coverage limits reflect the true value of your assets.
• Consider additional coverages like business interruption insurance or insurance for goods in transit if you frequently ship artwork or attend art fairs.
• Read policy details carefully, including deductibles and exclusions, to fully understand the scope of protection offered.
• Keep your insurance documents accessible and review your policy annually to adjust coverage as your art business grows and changes.

Once you've honed your art skills and prepared a portfolio, it's time to attract clients who will appreciate and pay for your services. Marketing is a critical step in turning your passion into a profitable venture. Here are some strategies to help you begin marketing your art services:

• Develop an Online Presence: Create a professional website and utilize social media platforms to showcase your work and connect with potential clients.
• Join Art Communities: Participate in online forums, local art associations, and attend networking events to meet other artists and art lovers.
• Offer Promotions: Attract initial customers with introductory offers, discounts, or bundled packages.
• Collaborate with Other Businesses: Partner with local businesses, cafes, or galleries to display your work and reach new audiences.
• Get Testimonials: Encourage satisfied clients to provide testimonials that you can use in your marketing materials to build credibility.
• Utilize Online Marketplaces: Sell your art on platforms like Etsy, Fine Art America, or Saatchi Art to gain exposure and sales.
• Attend Art Fairs and Exhibitions: Showcase your art in person to build relationships with collectors and enthusiasts.

Reaching step 11 in expanding your art business is a pivotal moment that opens up numerous opportunities for growth and increased visibility. As you prepare to take your art business to the next level, consider various strategies that can help you reach a wider audience, increase your sales, and build a sustainable business model. Here are some essential tips to guide you in the process:

• Diversify Your Product Line: Offer a range of products such as prints, originals, commissions, and merchandise to cater to different customer preferences and price points.
• Collaborate with Other Artists: Partner with fellow artists or brands to create unique collaborative works, expanding your network and audience.
• Utilize Online Platforms: Take advantage of online marketplaces, social media, and your own website to showcase and sell your art globally.
• Attend Art Fairs and Exhibitions: Participate in art events to gain exposure, network with industry professionals, and sell your work directly to art enthusiasts.
• Explore Licensing Opportunities: License your artwork for use on products, which can provide a steady income stream and introduce your work to new audiences.
• Invest in Marketing: Develop a marketing strategy to promote your brand, including SEO, content marketing, and paid advertising.
• Seek Feedback and Adapt: Regularly gather customer feedback and be open to evolving your business strategies based on market trends and consumer preferences.

How to Write Artist Business Plan? Guide & Template

In the dynamic and ever-evolving world of artistry, talent alone is often not enough to thrive. Whether you’re a painter, musician, or any other type of artist, having a solid business plan can be the key to turning your passion into a sustainable career. In this guide, we’ll delve into the importance of an artist business plan, how to create one, and the advantages it can bring to your artistic journey.

Download Now => Artist Business Plan Template

What is an Artist Business Plan?

An artist business plan is a strategic document that outlines your goals, target audience, marketing strategies, financial projections, and other crucial aspects of your artistic venture. It serves as a roadmap to guide your decisions and actions, helping you navigate the complexities of the creative industry with clarity and purpose.

Why Do You Need a Business Plan for an Artist?

• Clarity of Vision: A business plan forces you to define your artistic vision, mission, and objectives clearly. It helps you articulate what you want to achieve and how you plan to get there.
• Professionalism: Having a well-thought-out business plan demonstrates professionalism to potential collaborators, investors, and stakeholders. It shows that you take your art seriously and have a strategic approach to your career.
• Financial Planning: A business plan helps you manage your finances more effectively by forecasting income, expenses, and potential revenue streams. It enables you to make informed decisions about budgeting, pricing, and investment.
• Strategic Growth: With a business plan, you can identify opportunities for growth and expansion in your artistic career. Whether it’s exploring new markets, collaborating with other artists, or diversifying your revenue streams, a strategic plan can help you seize opportunities and mitigate risks.

How Do You Get Funding for Your Recording Artist Business?

Securing funding for your recording artist business plan can be challenging but not impossible. Here are some avenues to explore:

• Grants and Scholarships: Many organizations offer grants and scholarships specifically for artists. Research and apply for funding opportunities that align with your artistic goals and niche.
• Crowdfunding: Platforms like Kickstarter, Indiegogo, and Patreon allow artists to raise funds directly from their fans and supporters. Create compelling campaigns that resonate with your audience and offer unique rewards in exchange for their contributions.
• Investors and Sponsorships: Pitch your business plan to potential investors, sponsors, or brand partners who may be interested in supporting your artistic endeavors in exchange for exposure or a share of revenue.
• Government Programs: Some governments provide funding, loans, or tax incentives for artists and creative businesses. Check if there are any programs available in your region that you can leverage.

How to Write an Artist Business Plan?

Creating a comprehensive artist business plan involves several key steps:

• Define Your Objectives: Clearly articulate your artistic vision, mission, and goals. What do you want to achieve with your art, and how do you plan to measure success?
• Know Your Audience: Identify your target audience and understand their preferences, demographics, and buying behavior. Tailor your marketing strategies and artistic content to resonate with your audience.
• Market Analysis: Conduct thorough research on the competitive landscape and market trends in your artistic niche. Identify your competitors, assess their strengths and weaknesses, and determine how you can differentiate yourself.
• Marketing and Promotion: Outline your marketing strategies, including branding, advertising, social media, and PR activities. Develop a promotional plan to increase visibility, attract followers, and build a loyal fan base.
• Financial Projections: Create realistic financial forecasts, including revenue projections, expenses, and cash flow analysis. Consider factors such as production costs, distribution channels, pricing strategy, and potential revenue streams.
• Operational Plan: Define the day-to-day operations of your artistic venture, including production processes, distribution channels, inventory management, and staffing requirements.
• Risk Management: Identify potential risks and challenges that may impact your artistic business, such as changing market trends, legal issues, or financial constraints. Develop strategies to mitigate these risks and ensure business continuity.
• Monitoring and Evaluation: Establish key performance indicators (KPIs) to track the progress of your artistic business over time. Regularly review and adjust your business plan based on feedback, market dynamics, and evolving goals.

Advantages of Starting an Artist Business

• Creative Freedom: Running your own artistic business gives you the freedom to express yourself authentically without compromising your artistic vision for commercial gain.
• Flexibility: As an artist entrepreneur, you have the flexibility to set your own schedule, work on projects that inspire you, and explore creative opportunities on your own terms.
• Financial Independence: By monetizing your artistic talent, you can generate income doing what you love and build a sustainable career without relying solely on traditional employment or commissions.
• Community Building: Building an artistic business allows you to connect with like-minded individuals, collaborators, and supporters who share your passion for creativity and innovation.

In conclusion, an artist business plan is an essential tool for turning your artistic dreams into reality. By defining your objectives, understanding your audience, and outlining your strategies, you can navigate the competitive landscape of the creative industry with confidence and purpose. With careful planning, determination, and creativity, you can build a successful and fulfilling career as an artist entrepreneur.

Artist Business Plan FAQs

How do I make a business plan for an artist?

An artist business plan should detail your art style, marketing plan, revenue streams, competitive landscape, goals, startup and operating costs, and milestones for the first 1–3 years.

How do I start an artist business?

To start an art business, create a brand identity, set up a legal structure like an LLC, establish digital storefronts, develop marketing assets, build connections, and formalize your business plan.

Do I need an LLC as an artist?

Forming an LLC can help independent artists legally separate their personal and professional assets and taxes. An LLC brings liability protections lacking with sole proprietorship.

How do you write an independent artist business plan?

An independent artist business plan outlines their unique style, target buyer personas and segments, creative vision, marketing channels, exhibition/sales plans, goals, projected costs, and key milestones for gaining collector interest.

Should an independent artist form an LLC?

Yes, an LLC helps independent artists limit personal liability, formally structure their business, retain private ownership over work, legally separate personal and professional finances, and appear credible to partners.

What business to start as an artist?

Common art business ideas include selling paintings, prints or photos online, offering custom commissions, holding private or gallery exhibitions, licensing work for products, teaching workshops or classes.

Written by Ivan Smith

Hello, I'm Ivan Smith, a graduate with a Bachelor of Business Administration in Marketing. Currently, I'm actively engaged in practicing business plan writing.

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December 4, 2020 By Dave Nevue

How To Write An Artist Business Plan That Works

As an artist, having a business plan is essential for success. A good business plan can provide the necessary resources and guidance to identify your goals, develop strategies to reach them, allocate resources accordingly, and track progress regularly.

Your business plan must be professional-looking, comprehensive in information, current on market trends, realistic in objectives and expectations—and of course, tailored specifically to you as an individual artist.

Crafting such a document can seem daunting at first, but when broken down into manageable steps with the right tips along the way, it’s easier than you might think.

In this blog post, we’ll outline how to create an effective artist business plan that meets all of these requirements while helping you take charge of your artistic career.

Business Plans For Artists

A business plan is one of the most critical tasks for an artist as it allows them to visualize their goals and develop a strategy to achieve them. A business plan is an executive summary that encapsulates the resources, objectives, risks, and opportunities associated with an artist’s work.

It typically outlines actions that need to be taken to reach the desired outcomes and guides their professional choices. Artists can use their business plans to stay focused on their objectives, identify potential obstacles and develop appropriate solutions. With a thoughtfully crafted plan, artists can minimize threats and maximize success while better navigating uncertain waters and remaining prepared for any changes in the industry.

Bottom line: having a thoughtful business plan makes it easier for artists to take charge of their creative business instead of letting random events decide their fate.

Selling Art

An art business is much more than just creating artwork to sell. It takes hard work, dedication, and planning to sell art steadily.

Once you have decided to start selling your art, you have crossed the line from being a hobbyist to becoming a professional artist.

You are no longer creating art just for pleasure. You are creating art to generate income. You will no longer spend your time and money on art supplies to create art that you will give away for free. Your goal will be to make a profit and an honest hourly wage.

Before developing your art business plan, you will need to answer a few questions.

• Do you want to make extra income from your fine art to help supplement your entertainment expenses?
• Do you want to make a career from your art?
• Are you willing to do other activities such as teaching, tutoring, or commissioned work relating to art to supplement your income?
• Do you have a steady income now to help supplement your income while building your business?
• Do you have a support group? ( People around you that will support your vision and goals)

Art Marketing Strategy

What is a marketing strategy?

A marketing strategy refers to a business’s overall game plan for reaching prospective consumers and turning them into customers of the business’s products or services. (Source: Investopedia )

You will focus on your strategy when you write different action steps. The action steps are strategic tactics you will implement daily to guide you toward your business goals.

Decide on your primary objectives and where you would like to be in a year from now, five years from now, and ten years from now.

Your objectives could be as simple as selling your art online. Or it could be hosting an art show in your local area.

It does not matter if you want to start a digital art business or are trying to write an acceptable art photography business plan. A clear vision of your objectives is essential for starting a business as an artist.

To learn more about writing achievable goals, visit:

• How To Write Art Business Goals How To Succeed
• How To Set Art Goals You Can Achieve
• How To Review Your Goals And Sell More Art Next Year

Tactics are the strategies you execute. They will be decisions you make, such as what platform you use to sell your art , pricing , stores , galleries, craft shows , agents, social media networks , studio, and overhead costs.  

The tactics or ideas you implement should reflect your strategy and complement your objectives.

For example, if you are selling art online , you will need a platform where people can view and purchase your artwork.

Your tactic will be to build or have someone build a website where buyers can see and purchase your artwork.

The following steps will be to upload your art on your website, set the prices, promote your website on social media platforms, and drive traffic to your art listings.

To learn more about driving traffic to your artist’s website, visit How To Drive Traffic To Your Online Art Gallery .

Milestones art like goals but are used more for inspiration and motivation.

Write down some measurable milestones you would like to accomplish.

Start with small milestones—something you can accomplish in a relatively short amount of time but benefit your art business.

For example, it might be selling your first painting. Or maybe it will be to collect 100 emails for your email list. How about your first YouTube video or your first blog post?

Write them all down. When you accomplish something, check off the day it was completed and set a new milestone.

Creating milestones will help you to stay focused on what is essential at the time.

Achieving a milestone will motivate you to work as hard to accomplish the next milestone so you can build a successful art career.

Tracking Results

Many artists fear writing a sales forecast simply because they do not know what it is.

TrackMaven describes sales forecasting as:

“Sales forecasting is the process of estimating future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and long-term performance. Sales forecasting gives insight into how a company should manage its workforce, cash flow, and resources.”

All you have to do is predict how much money you will make in a year or broken down into quarters.

This information will significantly benefit your planning. You will know whether the strategies you are implementing are on target. You will be able to make adjustments promptly and be more focused on what matters—making money.

Think of it as your monthly budget. You know how much your bills will cost you monthly and how much income you will generate.

What Are The Five Parts Of A Business Plan

Successful artists, entertainers, creative endeavors, and small and large business owners know that the plan does not bring them success. It is implementing the plan.

5 Parts Of A Business Plan:

Mission statement – A brief story explaining why you are in business and what you have to offer

Elevator Pitch – 3-minute speech that is an overview of your company

Market research and marketing strategies – Marketing strategies that complement your company’s goals

Employees – How many people work for you

Financial budget and Financial documents – How much money you have for expenses and accurate records of money coming in and money going out

How To Write An Artist Business Plan

Here is a breakdown of how to write an effective artist business plan. Every artist is unique, so your plan will differ from all other artists selling their products.

Mission Statement

What is the mission of your company?

Why do you want to sell art?

What do you want to accomplish with your business?

Vision Statement

Many people confuse a mission statement and a vision statement . The mission statement says “why” you have a business. The vision statement says “where” you want your business to go.

Do you want your business to grow big enough so you can live in a beach house?

Do you want to employ people and other artists?

Do you want to make enough money to enjoy a night out at a fancy restaurant?

The answer is up to you, but you want to know the answer.

Setting goals are essential for any movement or change.

If you want to lose weight, you have to set a goal of how much you would like to lose and when you would like to lose it.

If you want to make money selling art, you have to decide how much you would like to sell and how much you will be charging.

A successful business plan starts with goals and objectives.

Who Are Your Customers?

Identify who your target audience is. Your target audience is the people who are interested in your artistic style. This is an essential part of a business plan and is often overlooked.

They are the people who are looking to purchase your products.

Here are some questions you will want to be able to answer:

• Does your work attract mainly males or females?
• What is the age range of your audience?
• What is the yearly household income of your target audience?
• What is the marital status of your audience?
• What inspires your audience?
• What motivates your audience?
• What common problems can you solve for your audience?
• What are your customer’s values?
• Where does your audience shop?
• What fun activities does your audience like to do?
• What social media sites does your audience hang out on?

Who are Your Competitors?

You want to know who your audience is, but you will also want to know your competitors.

• Who is selling work that is similar to yours?
• How long have they been selling?
• Where are they selling their products?
• What are their prices?
• What social media sites are they using?
• What strategies are they using that is working?

After you know your competitors, you will want to do some reverse engineering.

Figure out what you will need to do to outshine your competition.

• How can you make your website better?
• How can you make your artist blog better?
• How can you make your listings more appealing?
• How can you shine on social media?

One of the best tools for discovering new artists and artist blogs is Keysearch .

Your business will have expenses.

Make a list of your expenses, including money for supplies, shipping, marketing, promotional items, and learning.

Make a detailed list of all your expenses and how much artwork you will need to sell to cover the costs. you will also want to keep a profit and loss statement to adjust your pricing strategy.

• How are you going to market your creativity?
• What platforms and mediums are you going to use?
• Are you going to market online, offline, or both?
• How much time are you going to devote to marketing?

These are essential questions you are going to need to answer.

You have to make people aware that your artwork is available for sale and that you are the artist who created the piece.

People cannot buy something if they do not know it exists.

Art marketing is making people aware that you sell artwork and what work style you create. Take the time to write a monthly marketing plan for your business.

Final Thoughts On Business Plans

An artist business plan is a plan that makes people aware of your products and services. A successful business plan will turn potential customers into loyal clients.

Many artists are trying to sell their products and services online and offline. The internet has allowed businesses of all sizes to promote their ideas to clients worldwide.

You no longer need gallery representation to be a successful artist. Look at your favorite artist online and see how they promote their work. There are many ways you can reach new clients online and ways to communicate with your fans, like sending an email newsletter or posting a question on social media.

The best resource is the artists who have become successful online. Many artists share articles that explain what has worked for them. Success comes from developing a plan and executing a plan. Success comes from developing a plan and executing a plan. Take the time to draft your artist’s business plan.

More Art Marketing-Related Posts

Keyword Research Strategies For Artists Selling Art Online

How To Price Art – Ultimate Guide For Selling Art

Art Branding Basics – For Selling Art Online

About Dave Nevue

Dave Nevue is a Professional Pastel Wildlife Artist and the founder and CEO of Nevue Fine Art Marketing. He also authored the eBook The Productive Artist How to Live Your Dreams, and provides courses on art marketing at Nevue Fine Art Marketing Courses.

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An Artist’s Guide to Making a Business Plan (In Just 6 Steps)

Artwork Archive | October 25, 2016 (Updated September 20, 2022)

Being a professional artist involves more than being skilled with paints or clay—you actually become a small business owner!

So, where do you begin? By creating a business plan, of course! That’s why we’ve come up with an outline for artists to follow, so you can better understand your art business and develop a step-by-step strategy for success.

So when you are ready to carve out a half hour or so, follow along this guide (or bookmark it for when you are ready) and start writing down a plan to take your art career to the next level:

1. YOUR BUSINESS

A. Mission Statement

Figure out what your mission is by asking yourself the question, “why do you want to be a professional artist?” We doubt that it’s all about the money, but be honest with yourself about what it is about. Let this answer, and the passion you feel when you write it down, drive every other aspect of developing your art business.

B. Vision Statement

Your vision statement should describe where you want to take your art business in the future. But, success means something different to each and every artist. Do you want to be famous? Leave a legacy? Change the way people interact with art? Get rich? Do you want gallery representation? The answer is up to you.

Now, depending on your definition of success, develop short-term and long-term goals that will keep you on track. Try to set goals for each of the following: the next three months, six months, one year, three years, and five years. (Visualizing your art career like this will help you see the natural progression of steps to take, erasing the pressure to become an overnight success!)

Take this goal-setting advice from Catherine Orer , business and PR strategist for artists: “‘Quitting my day job to do art full time’ or ‘sell my art’ are not clear career goals.”  Instead, Catherine asks you to dig deeper: “What type of career do you want? How much do you want to earn?” Spelling out exactly what you want to do will help you take the actual steps.

2. YOUR CUSTOMER

The next step is to identify who your ideal client is so you can market your artwork in the most effective way possible. Start by answering these questions:

What age group or income level can afford your pieces?

What are your client’s goals and how does your art help the client achieve them?

Where do your customers buy art?

Where do these buyers live, travel, or hang out?

What are their hobbies? Attitudes? Style? Interests?

What type of buyers understand your work?

Why do your clients buy art?

What connection can you find between you, your art, and your buyers?

What kind of marketing would reach them best (word of mouth, email, social media)?

With these answers, you can set up a well thought out plan of attack for your art marketing strategy. You can go where your buyers go, form important relationships , and know exactly how to talk with them confidently about buying your artwork.

3. YOUR COMPETITORS

Much like understanding your target customer, you can’t dive into the art business world without understanding the rest of the art market—and that means who you are competing with.

Take the time to research other artists that are similar to you. Do they have great connections in the art world? Do they need better photos of their artwork? What are their prices like? Figuring out both their strengths and weaknesses can help you develop a plan for your own art business and gain a competitive advantage.

4. YOUR FINANCES

A. Expenses

Like any business, you are going to have expenses. But, they don’t have to eat up your hard earned profits if you plan for them ahead of time! In this section of the art business plan, write down the costs of everything you can think of, from supplies to renting studio space.

Once you’ve created your itemized list, you will need to formulate a plan on how you are going to pay for everything at the start of your art business. Do you have savings built up? Do you need to apply for an artist grant ? How many pieces do you need to sell to cover all of your costs? Is crowdfunding a good option for you ?

The answers to those previous questions about funding will get you thinking about how much you need to charge for each piece to actually make a living as an artist. Check out “ How to Price Consistently for Art Sales Success ” to learn more about different pricing methods.

5. YOUR MARKETING

Based on the profile of your ideal buyer, settle on the exact marketing strategy that complements your art business. Think about which of these art marketing outlets you should use: social media, email newsletters, art fairs, galleries, blogging, etc.

B. Where to Sell

Whether you target physical galleries, sell online, network within artist associations, or rely on a mixture of opportunities, determine where your potential customers will have the most eyes on your art.

C. Your Story

The next step is to write down your story as an artist. This is one of the most important steps because it’s how you can form a worthwhile connection with your possible collectors. Write your artist statement by answering these 5 questions art buyers have about you .

6. YOUR PROCESS

List out every single step of your art business workflow , from creation to sale. This will help you truly understand how long the process takes and how you should plan your schedule.

Plus, it’s a handy document to refer back to it in case you get stuck on what to do next! Here’s an example of what your process could look like:

Buy supplies

Begin piece

Share work-in-progress pictures on social

Finish piece

Take photos of finished artwork

List piece and details on Artwork Archive

Put piece up on personal website

Share on social media

Email collectors

Submit artwork to upcoming show

Generate invoice

Record sale in Artwork Archive

Get your art business up and running! Use this business plan outline and sign up for your 14-day free trial of Artwork Archive here .

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How To Write a Winning Artist Management Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for artist management businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective record label business plan , you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every artist management business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is an Artist Management Business Plan?

An artist management business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Artist Management Business Plan?

An artist management business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Artist Management Business Plan

The following are the key components of a successful artist management business plan:

Executive Summary

The executive summary of an artist management business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your artist management company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your artist management business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your artist management firm, mention this.

You will also include information about your chosen artist management business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an artist management business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the artist management industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the clients of an artist management business may include record labels, concert promoters, and other businesses in the music industry.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or artist management services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your artist management business may have:

• Comprehensive artist management services
• Proven track record of success
• Extensive industry experience
• Strong relationships with key industry players
• Innovative business model

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your artist management business via word-of-mouth or by exhibiting at trade shows.

Operations Plan

This part of your artist management business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an artist management business include reaching $X in sales. Other examples include signing on X number of clients, or booking Y number of shows.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific artist management industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Artist Management Firm

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Artist Management Firm

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup artist management business.

Sample Cash Flow Statement for a Startup Artist Management Firm

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your artist management company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

Remember to keep your business plan updated as your company grows and changes. Review it at least once a year to make sure it is still relevant and accurate.  

Finish Your Artist Management Company Business Plan in 1 Day!

How to make a Business Plan for Artists

by Chris | Apr 21, 2015 | Business Tools | 9 comments

We train artists in a funny way. We spend hours and hours honing the craft, the tiny details that start a student on the path to being a master. But we leave out some of the big practical things that that student will need to function in the world.

Universities, conservatories, acting and art schools create these bubbles. Amazing sheltered places in which we can explore ourselves and perfect our art. And then they hand you a degree and you’re out in the world.

Now go spend all your time and resources doing art! … But also pay your bills, eat some food, plan for retirement, think about starting a family soon (tick tock tick tock), TRAVEL (cause life is short), and live a diverse and full life (because otherwise you’ll have nothing to say in the aforementioned art)…..

…. Um… how?

Ugh… JUST. DO. ART!!!!!!

Not super helpful.

In fact I think some of us get caught up in a loop of treating life like it’s university. Just waiting for a prof to assign you your next piece. Waiting for someone to tell you what to do next…

Just… waiting….

STOP WAITING. START DOING.

What no one is telling students these days is that they’re not just artists. If they want to take a shot at making a living in the arts, what they’re actually doing is starting a business. And starting a business takes a whole skill set that we rarely talk about.

Now, I realize that we’re artists. There’s a reason I didn’t take an MBA, and I’m not saying every artist should graduate with a minor in accounting, business, or marketing. But we have to learn how to live and function in the world as it actually exists.

That fact doesn’t mean that we function like other businesses, but there are things we can learn from the more conventional business world.

It’s key for this crazy variable life, to reach over to the side of the world that figured out how to create thriving stability and adapt it to meet our own set of demands in a really subjective and fluid industry.

IN THE ARTS THERE IS NO SET BUSINESS MODEL.

There are only stories about how other people managed to ‘make it’. These stories are great information. They can be inspiring, and give us ideas but I think it’s very dangerous to try to emulate them exactly.

The reason why it’s so difficult to talk about how to make a career in the arts, is that each path is often so different. Every individual who manages to hammer out a living in their artistic field ends up going on … quite the journey.

When I started out, I just wanted to find a place… somewhere in the arts… anywhere. I wasn’t picky. I didn’t have a specific idea of where I wanted to end up, as long as it was somewhere.

It’s a nice idea, especially for a little mennonite prairie boy. “Anything will be fine… just let me stay… I won’t make much noise…” But it’s not really that effective, and you can end up in places where you don’t really want to be.

It helps to have a plan.

And that’s where the business world can help us. It’s the place where every small business starts. Making a business plan.

Their business plans can get a little complicated, but even a simplified version can really help any artist. It sure helped me.

WHAT IS A BUSINESS PLAN?

A business plan doesn’t take any kind of technical expertise to write. It’s for you the artist; You’re not going to be showing it to potential investors. It’s for you. It’s a way to get your thoughts in order and figure out how to make your path in the artistic world. Then… to make sure that your resources are all going towards that path.

This business plan is all kinds of unofficial. It’s my simplified version of a real-life business plan, with some questions added in for the artistic temperament.

Boiled down, your business plan should answer 5 questions:

• Who are you and why are you doing this?
• What are you selling?
• Who are selling it to?
• What do you need?
• How are you going to do it?

No biggie right? Just a few short questions…. (I can tell you right now, there are a few of these that had me stumped for awhile… but even just wrestling with the questions really helped me figure some things out).

HOW TO MAKE YOUR VERY OWN ARTISTIC BUSINESS PLAN!

Part 1: company description (who are you and why are you even doing this).

I feel strongly that an artist’s work is rooted in who they are. So it’s only fitting that every business plan starts with a ‘company’ description. For artists… the company is YOU.

This part is going to feel less official than the rest of the plan, but I think it’s essential. Break down the things that make you, you. This section should answer questions like:

Who am I? Where did I come from? How am I trained? And most importantly why am I doing this?

The last question is the most important part of this section.   I know it seems super elementary school but I don’t know any artist that doesn’t face that question on a regular basis (monthly… weekly… daily… *sigh*). I’ve found it so useful to have an answer that I can come back to. A mantra I can use to remind myself why I started this business in the first place.

PART 2: PRODUCT DESCRIPTION (WHAT ARE YOU SELLING?)

This can sometimes inspire confused looks in artists. Yes… you are selling something. You are selling a product. For the performers among us, that product is again… yourself. But more specifically it’s a certain skill set. For the artists among us that create a product: art, sculpture, written works… it can be easier to conceptualize.

If we don’t know what we’re selling, we will have a hard time selling it.

So take a look at your ‘product’. What makes it … marketable?

Just a few idea. There are obviously so many other things that could make you marketable.

Get specific. And be honest. There are no false points for modesty. You have to know what makes you worth buying.

What kind of actor are you? What kind of writing do you love to do? What materials and textiles do you work with? What voice type/fach are you? Are you funny? Dramatic? Do you look like a leading man? Does your voice move fast? Go high? … Just loud?

It is not your job to be everything to all people. To sing every style perfectly or write in 5 languages. Your role as an artist is to know what you offer and put yourself in positions where you can show that off.

PART 3: MARKET ANALYSIS (WHO’S BUYING??)

In the singing world we’re often told: “You have to go on a hundred auditions in order to book a gig.” So we dutifully go out and do as many auditions as possible… more of a shotgun approach to auditioning.

I’m not saying that’s wrong… but it’s super expensive… and it’s definitely not the most efficient way to use your resources. What if we tried more of a sniper rifle approach…?

It’s a pretty daunting task to look at the world and say… who wants to hire me? Who wants to buy what I’m selling? But that task is made far more possible by your work in part 2.

Once you know what you’re selling, it’s way easier to figure out who wants to buy it.

It’s your job to know the market. Which companies like to hire young singers? Or for the Canadians… which US companies like to hire Canadians? Look at colleagues with similar products to you… where are they working? For performers: what shows are companies doing in the next 3 years? Some of that information is public, and some you might have to dig for…. But lots of people know ahead of time. The more you can know, the better position you can place yourself in.

Targeted marking: That way you can make sure that, if your resources are limited, you’re putting time and money towards the best opportunity to make a sale (or get the gig).

It’s all about controlling what you can control. Are you guaranteed the job? No. But it’s just common sense not to waste time trying to sell to someone who’s just not even in the market…

Also, take the opportunity to look at companies and people   you would love to work for. Places you really admire. Even if it’s not achievable right now, it can be a great motivator to have a certain market in mind. Something to build to.

PART 4: MANAGEMENT TEAM (WHO DO YOU NEED?)

You are the CEO of Artist Incorporated (#bestcompanynameever #probablynot). But you’ll need some other people on your team.

The team that you build around yourself is one of the most important decisions you’ll make. Just keep a few things in mind: It is your team. It should be full of people that support you, and believe in you. Do not worry about having the ‘right’ teacher or the ‘right’ agent. The people on your team should be the right fit for you, in order to keep you happy, healthy, and able to produce. It also may change. That’s okay. The right teacher at the start of your career, may not be the right teacher for later in your career.

PART 5: FINANCIAL PLAN (WHAT DO YOU NEED… AND HOW MUCH DOES IT COST?)

Wait. Stay with me.

We’ve gotten this far without bringing money into the equation, but now we’ve got to talk about what things cost. Keep in mind, Part 5 isn’t about how you’re going to pay for it . Just about laying down the cost of the things you need.

Go through those steps and break down what the monthly/yearly costs of those resources will be.

What is the cost of maintaining/developing your product? Keeping in physical shape? Mental shape? Vocal Shape? Costs of learning new languages and musical/dance styles?

What companies do you want to audition for? How much will it cost to do those trips? (Flight, accommodations, etc…)

Performers: What repertoire needs to be learned for these auditions? Coaching costs?

What resources do you need to keep in contact with your ‘R&D’ team? Costs of lessons? Coachings? How often do you need to meet with these people? Weekly? Monthly? Are they close by or do you need to travel to them?

What are your yearly accounting costs? Costs of management?

How much will it cost to implement this plan, these things that you want to do?

Don’t worry about the how. Be methodical. What is every little cost that it will take?

PART 6: IMPLEMENTATION AND STRATEGY (HOW COULD THIS POSSIBLY ALL HAPPEN?)

This, is where we normally start. With the last step. Trying to figure out the ‘how’ before we’ve asked who, what, where, and why?

But now the demand is not… GO DO ART! It’s so much more specific. You have things you want to do, people you want to do them with, and an idea of what it’s going to cost.

Part 6 is all about reality. Your specific reality. If money isn’t a problem for you, implementing the plan will be pretty easy. For those of you that aren’t funded in some way, you’ll have to make some decisions.

What do you need right now? Is it exposure? Is it more development? Do you need to connect with as many markets as possible, or is it best for you continue to hone your craft with your R&D team?

Are you ready now… but you just don’t have enough money?

The advantage of the building a business plan is that you now have the information to answer those questions. If you don’t have much money you at least know now what you’re savings toward… and you know how much you need to save. If you need more time developing, at least you know where you want to be selling yourself in a year… or 5 years.

The timeline is your own to set. And it’s critical that you go at your own pace, however fast or slow that is. Take all this information, sit down with your team and make a plan.

This week. This month. This year.

need help? here's a workbook to help you through the process.

Why should you make a business plan.

Making a business plan isn’t an empty gesture. There’s a reason that every business does it. It gives you focus. It clarifies who you are, and what you want. On those days when you feel completely lost… it gives you something to refer to…. Something to remind you that all those menial little things you’re doing every day is part of a bigger journey, a longer path.

You will find that people are always willing to offer advice. There are lots of opinions on what you ‘should’ be doing right now, and what will ‘definitely’ lead to a career. But they can’t and don’t know what’s right for you.

No one else is going to figure this out for you.

So think about these questions, and more than that… write something down. Thoughts are different when you write them down. Things that seem clear in your head, can sometimes be really hard to write down. Things that you’re sure you’ll remember are really easy to forget. It’s a great exercise. No one ever needs to see it. It’s just for you.

Now… go do art!!

Want to start getting control of your money? How can I help?

Financial Planner/Opera Singer

Money never came naturally to me. In fact… I was a bit of a disaster. I remember (very clearly) what it feels like to be ‘financially out of control’.

And honestly, I still get stressed about money… that doesn’t stop… the difference is that now I have the tools to deal with that stress.

And those tools are what’s made it possible for me to build a life full of the things I want: art, creativity, travel, family and more.

If you want to start getting control of your money I’d love to help. You can start with  THIS QUIZ , visiting my  GETTING STARTED PAGE  or by checking out my  SERVICES  page.

Crafting a powerful business plan is often overlooked in the art world, but it’s so crucial for artists who want to generate more sales and make a sustainable living from their passion. I really appreciate how you broke down the essential components, especially the focus on setting clear goals and understanding the target market.

At last some down to earth but inspirational advice! This read has made me really think about my dreams practically and with confidence 🙂 Thanks from England!

I’m so glad you found it helpful!

Great article! Working on my business plan after some years of unfocussed work.

Thanks from Canada.

Hi do you know that you can increase your conversion ratio couple of times and earn additional bucks every day. There is incredible landing pages tool. It’s very easy even for noobs, if you are interested simply search in gooogle: pandatsor’s tools

This was a well thought out article- I am a middle aged man starting a side business as a metal sculpturer. Need to keep IRS off my back with a good business plan as IRS thinks side career artist are only pursuing a hobby and not a real business. Your plan will help lots. Thank you and Merry Christmas from California

That’s exciting Ken. I love metal sculptures… it’s such a cool art form.

Glad the article helped. Let me know if you have any other questions!

… and of course… Merry Christmas from Canada 🙂

Hey Chris, I’ve just finished reading this for the 3rd time. It’s great. Really good advice, great thoughts and well communicated. 🙂

Thanks man, I’m so glad you found it useful.

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ARTIST BUSINESS PLAN: Template & Simple Steps to Write One

• by Kenechukwu Muoghalu
• August 12, 2023

Table of Contents Hide

What is an artist business plan, why do you need a business plan, #1. executive summary, #2. company overview, #3. industry analysis, #4. customer analysis, #5. competitive analysis, #6. marketing plan, #7. operation plan, #8. management team, #9. financial plan, #10. appendix, artist business plan template, not ready to write a business plan yourself, conclusion , how do i write a business plan for an artist, is being an artist a business, how much can an art business make.

It is heart-throbbing to know that you have finally decided to leap without much consideration into starting an artist business. Figuring out what to do next should be the next milestone to cross. Well, as an artist, you need to have a business plan before you get to experience any development in your new business. As a starter, you will be faced with multiple new experiences that might seem tough to handle, which is understandable because you are in a new field. So, to make your artist business journey easier, a development plan is needed. To avoid stressing this further, this article will provide a template that can help you write an artist business plan. As a bonus, this template can also be used when writing a music, graphic, or makeup artist business plan. 

If you want an easy way out of this, you can opt-in for our pre-made artist business plan instead of writing one for yourself. 

A business plan or development plan simply lays out the who, what, when, where, why, and how an artist operates their business. Why won’t you run a smooth business when you have a clear description of these questions? Business plans are about setting goals, taking actionable steps to meet business objectives, and creating milestones to measure success along the way. When you want to create your artist business development plan, you should be clear about what you want and commit to going after it. 

Although the curriculum of your art school doesn’t include learning how to write a business plan, a business plan is what makes your business creative. An artist’s business plan makes it possible for you to build a profitable career. Have you thought about selling your work at art fairs? With a business plan, you won’t be seen thriving hard to pull it through. Instead, you will spend time preparing your artwork and striking deals with potential customers. Without laying more emphasis on this, let’s get down to writing an artist business plan for yourself. 

How to Write an Artist Business Plan

To compose a successful artist business plan, you need to remember that it’s the planning that matters and not just the plan. This will allow you to devote more time to making your plan professional and presentable. To write a business plan, there are some outlines that you will need to follow to better understand your art business and develop a step-by-step strategy for success. 

Your executive summary should be an introduction to the business. It is more like a summary of the general section of a business plan. It is the first to appear and the last to be written down because you will need information from other sections. While writing this section of your business plan, you should keep your language clear to attract and engage your readers. In summary, you will need to give a brief overview of the artist industry. You can also mention your competitors and provide a marketing plan as well as your financial plan. 

This section is mainly about your business venture. You will get to give some basic knowledge of your business. While writing this section of your business plan using this template, you will need to specify the type of art business you will specialize in, which can either be a makeup, graphic, or music artist.

An artist can be a broad range of related things, from fine art and commercial art, to design, writing, acting, or even live art. Specifying your art genre will help you narrow down your niche and focus on your target audience and their needs. In addition to this, you will also explain when and why you started the business and the business goals you tend to achieve.

Still in the industry, but this time we are going deep into it. To efficiently write this section, you will need to have thorough research on the music industry. The essence of this is to convince your reader that you have all the necessary knowledge about your new industry and that you also know what it takes to scale through. To complete this section, you will also need to talk about the market, who your competitors are, your market trends, the market size, and your potential customers. 

What type of customer do you render your services to? Are they private individuals, schools, families, or corporations? This customer will also depend on the type of art services you offer. If you have a target market, you should also run a basic check on them to understand who they are and what their needs are. 

This section should be about your competitors , which can be either direct or indirect competitors. The direct ones are your fellow artists and the indirect ones are other options your customers can look up to. Mention all competitors you have and state their strengths and weaknesses. You can also include the type of customers they serve and the prices they sell their art products. To round off this section, you will need to mention your areas of advantage. You can state how your products are more unique and better than that of your competitors. Will you provide better customer service? Also, state if your prices will attract more customers to you. 

Read Also: Makeup Artist Insurance: Liability Insurance And Coverage For Makeup Artist

What will be your marketing and sales strategy ? How do you intend on attracting customers and making sales? These are the basic questions that you will need to be explaining in this section. You will also need to talk about your marketing and promotion strategy. Will you advertise in local papers, make flyers, use social media platforms, create websites or engage in email marketing? These are information that your readers will need to know about your marketing plans because, without constant sales, a business can’t grow. 

Just like the name implies, you will have to explain how your business goals will be carried out. You will also need to clearly define how you will carry out basic operations in your artist business. Your operation plan should cover how you will manage your everyday tasks, which involve answering calls, meeting with clients, billing, and collecting payments. You should also include how you will meet your long-term goals. Indicate the milestones you need to achieve, what it will take you to achieve them and when you plan on achieving them. 

The management team section should entail your workforce. You can also explain how your team is liable to grow the business. You can mention their skills and responsibilities in the company. 

A proper financial statement should include your income statement, balance sheet, and cash flow statement. Your income statement consists of your profit and loss information. A balance sheet is what shows your assets and liabilities, while a cash flow statement will determine how much money you need to start or grow your business. 

Finally, this section should have your full financial projections and any supporting documents that can make your plan more presentable. It can be in the form of a license or a sample of your artist portfolio. 

Before starting up an artist business, either as a makeup, graphic, or music artist, you will need a template to kick off that plan. The essence of a template is to ensure that you start on the right foot while planning on how to set up your business. This template checklist will serve as a guide to clarify all necessary steps to take before kicking off that idea of yours. Also remember that this artist business plan template can accommodate other art genres like music, graphic, and makeup artists. 

• Choose a business name
• Create a professional business plan
• Secure start-up fund
• Get a location for your business
• Get required permits and licenses
• Get the legal documents you need
• Have an insurance 
• Buy artist equipment
• Develop a marketing plan
• Open for business 

Creating a business plan can be overwhelming to compose, especially when it’s your first time creating one. If you want to escape the stress of figuring out what each section should entail, then it’s best to seek professional help. 

Wouldn’t you wish to get your hands on a professional artist’s business plan in seconds? Then try this winning pre-made artist business plan . 

At BusinessYield Consult, we help entrepreneurs like you create a business plan that can improve the success of any business. To achieve your art biz goals, get this plan now .

As an artist, it is natural to be exposed to numerous responsibilities. That means inventory details, showing or selling your work, exhibition dates, invoices, call-for-entry application deadlines, sales records, and a host of other schedules that need to be handled. A good business plan is all you need to escape being disorganized. By getting a plan and keeping track of your activities, you can curb those excesses. When it seems so overwhelming to create one, you can go for a pre-made 

To write a business plan, you can make use of the template in this article to compose your artist’s business plan.

As an artist, you can choose to turn your talent into a business and make it profitable. Indeed, all entrepreneurs are not artists but all artists are entrepreneurs. What matters is how well you polish your skills and make a living out of them. 

Artists do not have a specific amount of money they make. Most times it depends on the type of art services you render to clients. For example, if you are a graphic artist you can make more money compared to an artist who is just a painter. 

Related Articles

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• Tattoo Apprenticeships: Career Guide & How To Get One

Kenechukwu Muoghalu

Kenny, an accomplished business writer with a decade of experience, excels in translating intricate industry insights into engaging articles. Her passion revolves around distilling the latest trends, offering actionable advice, and nurturing a comprehensive understanding of the business landscape. With a proven track record of delivering insightful content, Kenny is dedicated to empowering her readers with the knowledge needed to thrive in the dynamic and ever-evolving world of business.

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The Ultimate Guide to Starting & Running an Art Studio Successfully

This guide will provide you with all of the information that you need to start and run an art studio successfully. Depending on where you are in your journey, feel free to read all the way through or jump to the sections that are the most relevant to your needs.  

If you are looking for more support in running your art business , Sawyer can help. Schedule a free demo with our specialists today.

This guide is part of the Sawyer entrepreneurship series and business plan contest. Our goal is to help more children’s activity businesses get started. Learn more about how Sawyer can help you start or grow your business.

How to open an art studio

A lot goes into opening an art studio, but it is so rewarding in the end. Art has so many positive benefits for children and adults and watching your students grow as artists and people makes each step of the process worthwhile!

We will go over each step in the process so that you will get a full understanding of the timeline, necessary funds, and legal requirements you need to follow to open an art studio and start teaching art classes to children and adults. 

If you are looking to start an art studio, then you have come to the right place. The team at Sawyer has worked with hundreds of businesses to create and build art studios and other children’s activities all over the country. 

Related blog posts

Requirements to start a business teaching art to kids

There are so many moving pieces when it comes to starting an art studio. Before you think about lesson plans, space, and supplies, you need a business plan, budget, and so much more to get your business off the ground successfully. And remember: When you start a business you need to check and meet the legal requirements for businesses in your state, city, and county. 

Art studio business plan

Writing a business plan should be the first step when you want to open an art studio. A successful business plan includes your goals, market analysis, financial planning, and more. Plus, if you are looking to apply for funding assistance ( small business loans or grants ), they often require a business plan as part of the application.

Business plan template

• Executive summary: The first piece of your business plan is the executive summary. It gives your reader a quick overview of your business and goals. The executive summary should outline the problem and how you are going to solve it. You should also include a brief summary of who you are and the necessary financial information about your business.
• Description of your business: What are the services you’re offering at your art studio? Will you be teaching just children or adults as well? Are you planning to offer private lessons, group classes, and open studio time? Will you have after school classes and summer camps ? Also include information about how you are planning to operate as well. What state are you in? Are you an LLC or a non-profit? Give your readers a detailed explanation of who you are.
• Market analysis: Outline your target audience and how you’ll deliver your services to them. Are you looking for families in your community? Or maybe customers you can reach virtually in different cities? Can you connect with schools and push in to their programs? In addition, take a look at what your competitors are doing to get a sense of the market.
• Your team: Whether you’re a solo entrepreneur running your business and teaching activities or a room full of incredible instructors, it’s important to talk about the team! How is your business organized? Who manages each type of role and responsibility? Why are they right for those positions? Include their credentials and background so readers can learn more about them.
• Financial plan: This section should be a detailed overview of all of your finances. What is your budget? What do you project your profits will look like? What are your overhead costs? A precise section of your financial plans will help you forecast your growth.

Use our guide for more support on creating your business plan .

Business budget and investment

As you likely know from your personal life, keeping a budget is important. For your business, building and staying on track with your budget helps you to reach your business goals and objectives.

What to include in a business budget?

• Income sources: The first step towards building your business budget is tracking your income or projected income. Income is how much money you are bringing in (projected income is how much money you expect to bring in). Make sure you take into account all of your revenue sources. For example, if you teach classes in-person and online, if you sell supplies, or if you provide private lessons. If you tend to see seasonal trends in sales, make sure to take these into account for the respective months. Everything should be tallied in this section. 
• Fixed costs: Once you know how much money is coming in (or expected to come in), you need to figure out how much money you are spending. We recommend that you start with your fixed costs because they stay the same. Rent, utilities, insurance, salaries, and platform subscriptions are examples of fixed costs. 
• Variable costs: Unlike fixed costs, variable costs change. This makes them slightly more difficult to budget, but equally as important. Consumption-based utilities like gas and electricity, travel, commission on item sales, holiday gifts for employees , and shipping costs are examples of variable costs. Keeping track of these costs will help you determine seasonal averages and which months are stronger for your business.
• One-time costs: If you have any planned one-time costs, like buying a new computer and microphone for better online classes, then you can include that in this section. However, it is still very important to include some money in the budget for one-time costs that are not planned. For example, broken equipment, damage to your studio, slow months because of a global pandemic, or something similar.

Review our guide for more information and guidance on building your business budget .

Art studio license

When you start a business, you need to follow the legal guidelines and obtain the necessary licenses. In addition, regular adherence to tax laws and other regulations are, of course, necessary to starting and successfully operating your business.

• Company registration: Your company must be registered as a legal entity before you can open your art studio. A small business is usually registered as an LLC while larger businesses and franchises are usually C Corps. You can also register as a nonprofit if you plan to run your business not-for-profit.
• Employee Identification Number (EIN): The IRS issues an EIN to all businesses after they register.
• Certificate of Occupancy (CO): Once you have acquired the space for your studio, you will need to ensure it passes inspection and receives a CO.

Registration and management software

Even though software is an added cost at the start of your business journey, it is worth it. Utilizing a class registration and management software like Sawyer can help your business get started on the right foot. 

First impressions are important. Rather than relying on manually accepting bookings over the phone or via email, class registration and management software like Sawyer lets you take bookings 24/7 so you never miss a sale. Plus, software helps you make schedules easily, keep track of important student information, seamlessly take payments, and analyze financial reports.

Art lesson plans and curriculum

Once you have all of your legal and business requirements finalized, you can turn your attention to the fun part: building an art curriculum and writing lesson plans! Success in the studio is dependent on strong lesson plans that keep your instructors and your students on track. 

How to write an art curriculum

Planning your curriculum puts you in a great position to establish your goals, write lesson plans, and come up with exciting hands-on activities for your students. Use these curriculum development and design tips to get your planning off on the right foot.

• Establish goals: Before you begin developing your curriculum, you need to determine your goals for teaching. As you think about your curriculum goals, make sure to plan around the topic you are teaching, the age of your students, and the amount of time you have. Choose realistic goals so that you can set yourself, fellow instructors, and students up for success. 
• Sketch it out: Once you have determined your goals, you can begin to sketch the course out. How many sessions do you have? How long are your sessions? This information is important as you begin to write your curriculum, and later, your lesson plans. When planning an art curriculum, make sure you give yourself and your students enough time to understand each element before moving on. 
• Review previous lessons: If this is not your first time teaching, go through what has worked (and not worked!) in the past. Where have students struggled when learning this style of art or type of activity? What has really helped them master it? Use these experiences to inform your new curriculum. If you are a new teacher to this topic, use the Internet to see what others have done to teach it or speak with other educators to get their advice.
• Write lesson plans: Once you have your curriculum structured, it’s time to write the lesson plans for each class. Each lesson should also have its own goal, which will help you accomplish the overarching goal of the curriculum. You should also include information about how you will assess and evaluate your success for each class so you can keep track and stay on target. Use our guide for more details on how to write a lesson plan , including templates and examples.

More questions on how to write a curriculum ? Use our guide!

Art lesson plans

Lesson plans are important for both the instructor and the student. A strong lesson plan provides the necessary scaffolding for effective and efficient learning. A strong lesson plan has a learning objective for the session, a list of the materials and supplies needed, the activities you will be doing and the time allotted for each one, and space for assessments and evaluations. These are the sections of an art lesson plan to keep in mind.

• Lesson objective(s): In this section, determine the goal for the lesson. What are the students going to learn or be able to do at the end of the class? Make your lesson objective(s) as action-oriented and measurable as possible because this is how you will measure progress before moving on to new lessons. For example: create a self portrait  or learn the basics of pottery.
• Materials needed: What materials, supplies, books, films, etc are needed to teach this lesson? 
• Lesson activities: Break your lesson down into individual activities that will help your students learn what you want them to learn. Try to incorporate games and fun elements to keep them engaged. 
• Timing: Include a time estimate with each activity so you can stay on track with the time for the class. It is best to add a little extra time to each activity in case students are having difficulty mastering something.
• Assessment: It is helpful for instructors to include an assessment in their lesson plans, even if it is not as formal as an exam. The goal is to help the instructor determine if the lesson actually helped students meet the objectives. This can be as simple as running reviewing the students’ artwork at the end of the session or asking them what they learned that day in class.

Review our guide with even more information about teaching art to children for art activities and best practices!

Art lesson plan template

Ready to get started on your own art lesson plan? Fill out our editable art lesson plan template so you can start creating.

Marketing your art studio

It’s time to get your name out there! With the right marketing strategies, you can let your community know about your offerings and start building your customer base. Marketing helps you get them in the door so you can wow them with your exciting activities and classes.

Email marketing for art studios

If you already have a list of email addresses from reaching out to the community or running programming in the past, email marketing is a good starting point. The key to successful email marketing is keeping it short and highlighting your value. Use these tips when you plan your email marketing for your art studio.

• Use an enticing subject line. Email marketing does not work if they don’t open your email. Create a sense of urgency, intrigue the reader, and/or showcase your value with a strong subject line. Here are a couple of examples:
• ~Only 10 spots left for beginner watercolor!
• ~Book now! Art summer camps are almost full
• ~See what families have to say about our art classes ‍
• Provide incentives. If you can offer incentives like discounts or early access, email is a great place to do that: Especially in the subject line! ‍
• Keep it short. You are competing against hundreds of other emails per day. It is important to get right to the point with marketing emails. Tell them why you are emailing, show them your value, and give them an easy way to purchase. ‍
• End with a call-to-action (CTA). At the end of your email, use a CTA that encourages the reader to make a decision. Sometimes, the decision will be registering for your classes. However, other times it might make more sense for the CTA to be “schedule a call” or “learn more” if the reader is not yet ready to make a purchase.

Review our guide for more in depth information on email marketing for small businesses .

Social media marketing for art studios

Social media is a very important platform when marketing art classes for children and adults. Did you know that Pew Research reports that 72% of all adults in the US use social media? Plus, when it comes to parents, they found that number to be even higher: 83% of parents are actively using social media. Therefore, social media is an important medium for reaching potential customers. Consider these recommendations when establishing a social media marketing strategy for your art studio.

• Highlight high quality photos. Smartphone photography is all you need to get high quality images for your social media marketing campaigns. These images are the first impression a customer will get of your classes, so make sure they are full of smiling faces! And if you use photos of children, remember to always get permission from a parent or guardian beforehand. 
• Showcase user-generated content (UGC). Millennials trust UGC over brand created content. Ask customers to share pictures in photo contests, reshare positive reviews, and get the excitement flowing with social media takeovers. Check out our full guide on user-generated content to see even more ideas.
• Make connections with potential and current customers. Social media is such a great tool because you can easily interact with your community. By making connections, you are increasing the likelihood that they sign up for your classes and refer friends. 

For more guidance on social media marketing for businesses , check out our article, which includes helpful information about setting up business accounts on Facebook and Instagram.

Advertising for art studios

Google Ads are a great marketing tool for new businesses. Google Ads follow a Pay Per Click (PPC) advertising model, which means you bid on search terms and only pay for the clicks your ads receive. There is no spending requirement, so it can be a very cost efficient strategy. Follow these steps when setting up your Google Ads campaign.

• Start with research. First, you need to decide which keywords to target. Keywords are the words or phrases that people search for on Google that trigger your ad. Research which keywords your competitors are targeting by searching those words to see what ads appear. This will give you an understanding of your competition.
• Choose your level. Google Ads have two different levels. The first is campaigns, which is the higher level and the second is ad groups, which is the lower level. Creating different ad groups for different keywords will help your ad be more effective with customers. 
• Plan your budget. You need to consider two different elements that go into your account’s overall spend: Daily budget (the amount of money you spend on each campaign each day) and bid (the cost when someone who searches for your keyword actually clicks on your ad).
• Pick the keywords. Google Ads has a free Keyword Planner tool, which you can use to generate a list of keywords. The Keyword Planner helps you see if certain keywords are too expensive and helps you refine where your ads appear. 
• Choose your devices. Do you want your ads to appear on mobile, desktop, tablet, or all three? In our 2022 Children’s Activity Business Trend Report , we found that 60% of parents booked activities on mobile, 39% on desktop, and 1% on tablet.
• Write the copy. You don’t have a lot of space, so write something catchy and enticing with the keywords. Plus, be sure to add a call-to-action (CTA) like “Sign up today” or “Learn more”.
• Activate and monitor. Turn your ads on and then see how they are doing with Google Analytics , which is free and connected to Google Ads. For more advanced tracking, you can also install a Google Ads pixel on your site. 

Looking for more details on setting up Google advertising for your business ? Check out our guide!

Making connections with schools

When you teach classes to children, making connections with schools can help you build customer trust, increase your enrollment numbers, and find new families in your community. Here are some of our top tips to help you make connections with schools.

• Find the right people. Try reaching out to members of the school board, school administrators, and/or the PTA to start the conversation.
• Write a strong email. Catch their attention with your subject line, then in the body, introduce yourself and explain what you are offering. Be straightforward but polite. Let them know why the students would benefit from your classes and how you can make life easier for the school, too. End your email by thanking them for their time and let them know how they can get in touch with you to continue the conversation.
• Use our outreach email generator. With our outreach email generator , you can easily input the above information and create an email that will help you make strong connections with local schools.

Use our guide to learn more about how to make connections with schools .

Common challenges of running an art studio

As you continue on your journey of setting up and running an art studio, you might be wondering what other elements should you consider that you might not be thinking about from the get go? 

Luckily, at Sawyer we work with children’s activity business owners every day to make starting and running an art studio more simple. We’ve outlined some of the common challenges of running an art studio and how you can solve them to help you get grooving.

Managing rosters

If you are planning to run a lot of different types of classes, managing rosters can be one of your biggest challenges. But, rosters are so important to your success! Rosters help you and your instructors keep track of everything: Registered students, attendance check-in and -out, and important information like pronouns, allergies, and more. If you do not have a system in place, rosters can easily become overwhelming. We recommend using a class registration and management software like Sawyer to keep your rosters organized. 

Auto-generated rosters

With Sawyer, once a student is signed up for a class, they are automatically added to the roster along with all of their information like parents’ names, pronouns, birthday, allergies, t-shirt/costume size, and more. Instructors and administrators can also track attendance at drop-off and pickup online on the roster or by exporting and printing. And if something comes up, instructors can email everyone on the roster to keep them in the know. 

Learn more about how Sawyer can make managing rosters simple for your dance studio.

Managing waitlists

When the demand for a certain class is higher than the space available, that’s a good sign. You can capitalize on this situation by utilizing waitlists. You get to see which specific classes resonate with your audience more strongly and ensure you don’t leave money on the table!

Sawyer provider Oh! Canary, which offers art camps and extracurricular activities for young children in New Jersey, explains that waitlists are beneficial because they also act as a growth projection and planning metric, providing insight into the interest in each class. Lacey, founder of Oh! Canary, explained that “waitlists are helpful because we can really see in real time the demand for our classes. In some weeks, our camp waitlists are up to 70 kids! It shows us the potential of what could be possible.” Read more about how Sawyer helped Oh! Canary grow and scale in our case study.

Taking online registrations

Millennials are digital natives. That’s why it is important to show that your classes can be booked online, 24/7, without the need to make a call or send an email. In our 2022 Children’s Activity Trend Report , we reviewed 7.2 million activity bookings and found that 42% of parents book outside of typical business hours (9am to 5pm). Plus, over 60% booked on mobile! To capture this business, you need to be available for online bookings and mobile optimized.

Selling semester and drop-in options

By offering registration options for customers, you can increase your enrollment numbers. People have busy schedules so they are looking for flexibility when they book activities. However, it is difficult to offer options like semesters, camps, and drop-in classes unless you work with a class registration and management software that has these capabilities built in.

With Sawyer , you can choose to offer semesters and summer or school break camps as well as drop-in classes. You can even offer multiple options for one class, so some customers can choose to pay for the whole semester or month while others pay by week or even by day. 

Allowing transfers

Class management software makes transfers and last minute booking changes an easy process. You can allow customers to choose whether they want to transfer into a different class or program or request a refund. With a few clicks, the booking has been updated, saving you and your team time!

Getting the information you need

If you do not use registration and class management software, you need to ask each customer to print and fill out registration materials, waivers, consent forms, and other documents before they can participate in class. Then, you have to file these papers and keep everything organized. With a class management software like Sawyer , you can seamlessly collect information about each student as they register and access it easily from anywhere.

Custom form fields

Require custom forms for registration to keep track of important responses about medications, allergies, and pronouns, consent and waiver forms, and emergency contacts. This information is then exported automatically into the roster so that instructors and staff have access to everything in one place.

Do you need to use class registration software?

Class registration software makes starting and running an art studio successfully much easier. Rather than relying on phone calls and email, handwritten forms, and spreadsheet rosters, you can have everything organized and accessible. (See how Sawyer helped Shredder get organized so they could manage their six locations). 

Software keeps you and your staff more organized and efficient. In fact, class registration software Sawyer can save you 28 hours per month on administrative tasks, so that you have more time to spend planning lessons and activities, growing your business, working with your staff, and teaching your students.

Features to look for in class registration software

How can you tell which class registration and management software is right for your business? Here are some questions to ask yourself and features to look for so you can find the perfect class registration software for your art studio.

• Why do you need software? Do you want to improve staff experience by freeing up your team’s time to focus more on connecting with students? Do you want to appear more professional to your customers and provide an easier way to register? Are you looking to process payments or dive deeper into business analytics? What is the goal of signing on with a class registration and management software for your business?
• What do the reviews say? Check reviews on sites like Capterra to hear firsthand from business owners about their experience with certain softwares.
• Do they have great customer service? Customer service and onboarding are incredibly important when you start with a new software. Do they help with onboarding and continued education? When and how can you reach out to the customer service team? These are important questions to ask when considering a registration software.
• Can they help you grow? How will the features and options on that platform help your business grow and scale? Do they accept customer feedback and make changes so that they grow with you? You don’t want to be stagnant and neither should your software.

Check out our guide to learn more about how to find the perfect registration software for your camp.

Still not sure if starting and running an art studio is the right decision for you? Making the jump is a big decision. Check out these frequently asked questions about running an art studio to see if it is the right choice for you.

How much does it cost to start an art studio?

According to Newfoundr , it costs about $6,000, on average, to start an art studio. This is spread among rent, licenses, insurance, supplies and materials, registration software, and furniture. New art studio owners can reduce some of these costs by renting space at a studio that is already set up. 

However, it is very important for new business owners to look at their own expected expenses and income to determine the cost of running a studio for themselves.

What licenses are needed to start an art studio?

There are a few different licenses that are needed to start an art studio. First, you must register your company as an LLC, C Corp, or nonprofit. Once this is done, you will be issued an Employee Identification Number (EIN) from the IRS, which is also necessary to start a dance studio. Finally, you will need a Certificate of Occupancy (CO) after your studio space is approved.

How much do art teachers make?

According to ZipRecruiter , the national average salary of an art teacher is $53,463 or about $26 per hour. However, this number is not set in stone. Expenses, location, and other elements should all be considered when determining salary.

Where can I buy art supplies?

When purchasing art supplies for your studio, we recommend looking into wholesale options. Try Oriental Trading , DollarDays , and Business Prime from Amazon to get started. If you are looking to buy in smaller portions, you can buy direct with Discount School Supply or even Staples . Review our guide with more information on where to buy art supplies .

When should I invest in class registration software?

If you want your art studio to take off with flying colors, you should invest in class registration software like Sawyer from the very beginning. Your first customers should have a great experience when they register for classes so they keep coming back for more. With a class registration system, you can ensure your bookings are seamless, payments are always taken, and important information is organized.

We hope this guide has provided you with all of the information you need to start and run an art studio successfully. At Sawyer , our mission is to help children’s activity businesses thrive. With our suite of tools and helpful resources , we can help you spend less time on administrative tasks and more time with your students. Want to learn more? Talk to a member of our expert team and see how Sawyer can help your business grow.

Let's get creating!

What Is An Artist Marketing Plan And How To Write One That Works For You (Step By Step Guide)

More and more people are opting to start businesses, allowing them a better work/life  balance.

And the world of Art is no exception. 

An Artist Business Plan (ABP) is a document that lays out your plans for success.

Whether you’re starting a new career, launching a side hustle, or expanding an existing one, having a clear set of goals and strategies laid out ahead of time helps ensure that you are making smart decisions along the way.

A good ABP includes three main sections: Mission Statement, Vision & Goals, and Action Plans.

These sections should each include specific information about your art, your audience, your skills, and your desired outcomes.

Let’s look in more detail about what to include in the business plan. (Also see: How to Build a Profitable ART Business )

Mission And Vision 

Your vision statement is a short description of how you see your art business growing over the next five years.

What are some of the things you hope to accomplish?

How much revenue do you hope to generate? Where do you think your career will take you? 

Your vision statement should include both long-term goals and shorter term objectives.

Think about where you’d like to be in ten years – perhaps you’re hoping to have a thriving studio and sell your work online.

Or maybe you just want to make enough money to pay off student loans.

Whatever the case, keep your vision simple and realistic. 

Don’t set impossible expectations for yourself.

Remember that your vision statement needs to be something that you believe in and can live up to.

If you don’t believe in it, why should anyone else?

Step 1 Understanding Your Art 

Artists often struggle with self-doubt. They wonder why they aren’t getting better, whether they’re good enough, whether anyone else likes what they do.

This isn’t just about being confident; it’s about understanding how you work and where you want to go. 

You’ll never know everything there is to know about art, but reading books, talking to people, watching videos, and looking at examples of great art can help you understand yourself and your art.

Step 2 Customers/Target Market  

The second part of our process is to understand what makes your customer tick.

This is where we start digging into the nitty gritty of your customer life and uncovering some interesting facts about your potential clients.

We want to know everything there is to know about your customer.

You can identify your target market once you know what type of art you’d like to create.

You need to understand who those people are, how they behave online, and where they hang out.

The best way to learn about your target market is to look at your existing customers and prospects.

Start by identifying your ideal customer. What does she look like?

Where does she live? How much money does she make?

Next, look at your current customers and prospects.

Who are they? Do they fit your ideal customer profile? Are there any gaps in your knowledge?

Finally, take some time to research your market.

Find out what types of artists are already doing well in your field, and who else is creating similar artwork.

Step 3 Seek Out The Rich

The best place to start is by following the money. What do rich people buy?

How does someone become wealthy? And what makes something expensive?

These questions help you figure out what types of customers you’ll attract.

If you’re looking to make a living selling paintings, you might want to target affluent individuals.

Why? Because those people already have the money to spend.

So why not give them something beautiful to hang on their walls?

Or maybe you’d rather focus on high-end items.

Find out exactly who your potential buyers are and what they’re willing to spend.

Then find a way to bring your artwork to them.

Step 4  Focus On Local

Social media is great for selling art, but it’s unlikely going to sell enough art for you to survive.

You’re going to have to start somewhere, and that somewhere is probably closer to home than you think. 

If you’ve been thinking about starting a blog, now might be a good time to start one.

If you want to post pictures of your artwork online, there are plenty of free photo sharing sites out there like Flickr and Instagram that allow you to upload photos without paying anything.

You can then direct them to local areas. 

If you’re looking for a way to market your art, don’t waste too much money initially on advertising.

Instead, spend your money finding ways to connect with people in your area.

There are many different kinds of communities where artists hang out online, including groups on Facebook, forums on Reddit, and blogs on Medium.

These are all excellent places to meet people interested in buying your art.

You may also want to consider joining a photography club.

Most cities have clubs that focus on everything from pet photography to sports photography to wedding photography.

They often offer workshops and seminars, and they’re a great way to learn how to take better portraits.

Some even provide memberships to professional photographers who teach classes, allowing you to practice what you learn under their watchful eyes.

Step 5 Writing Your Plan

The most common mistake entrepreneurs make is failing to write a business plan.

This is one of the most critical pieces of information needed to start a successful business.

If you don’t know what you’re doing, it doesn’t matter how great your product or service is — no one else does either. 

Your business plan lays out the vision, mission, and goals of your business.

You’ll want to include some of the following sections:

Executive Summary

This section presents the key points of your business plan.

Include the name of the business, the location where it will operate, the date it will open, the number of employees required, and the projected annual revenue.

Mission Statement

This statement describes the reason why you’re starting up the business in the first place.

For example, “I will provide unique artwork customized to your needs”

Product/Service Description

In this section, describe the products or services you offer.

Be specific about what you do, how you do it, and what makes you unique.

Market Analysis

Identify your target market. Where is there demand for your goods or services?

What problems are people having today that could benefit from your offering?

Financial Plan

Develop a budget for the next three years. Include projections for sales, expenses, and profit margins.

Marketing Plan

Describe your marketing strategy. Will you use traditional advertising methods such as newspaper ads, billboards, radio spots, etc.? Or will you focus on social media and online marketing?

(Check out: Creating an Art Marketing Plan for 2018 and Beyond )

Conclusion 

An Artist marketing plan can help you get started on the road to success.

It’s important to understand that an artist marketing plan isn’t just a list of tasks.

Rather, it’s a roadmap that helps you map out your entire journey.

The more detailed your plan is, the easier it will be to follow through.

With a positive mindset and plenty of hard work your Art selling business has the potential to grow and thrive.

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Understanding Tax Planning for Special Interest Groups

Special interest groups, such as freelancers, artists, and non-profit organizations, face distinct tax challenges that can substantially impact their financial well-being. Accurate income reporting, business expense deductions, and grasping education credits are just a few of the complexities they must overcome. Without a thorough understanding of their tax obligations, these groups risk incurring unnecessary penalties and liabilities. As we explore the unique tax planning strategies and considerations for these special interest groups, it becomes clear that a well-informed approach is crucial to achieving financial stability and success – but what specific steps can be taken to optimize their tax planning?

Table of Contents

Unique Challenges of Freelancers

Freelancers, who lack the traditional employer-employee relationship, face distinct tax complexities that can substantially impact their financial situation. Without a clear understanding of these complexities, freelancers may find themselves struggling to manage their finances, leading to financial anxiety. One of the primary challenges freelancers encounter is establishing client boundaries. This ambiguity can lead to confusion regarding what constitutes taxable income, making it difficult to accurately report earnings. In addition, freelancers are responsible for self-reporting their income, which can result in errors or omissions that may attract unwanted attention from tax authorities. Additionally, freelancers often lack access to employer-provided benefits, such as retirement plans and health insurance, which can further exacerbate their financial anxiety. To mitigate these risks, freelancers must develop a thorough understanding of their tax obligations and implement strategies to guarantee accurate reporting and compliance. By doing so, freelancers can minimize their financial anxiety and optimize their financial situation.

Tax Strategies for Artists

When it comes to tax planning, artists face unique challenges in claiming deductions for expenses related to their craft. Fortunately, the Internal Revenue Service (IRS) permits artists to deduct certain expenditures, including art supplies and home studio expenses, as business expenses on their tax returns. By accurately tracking and documenting these expenditures, artists can minimize their tax liability and unlock their creative potential.

Deductible Art Supplies

As a crucial aspect of their creative process, artists often incur significant expenses for art supplies, which can be claimed as deductible business expenses on their tax returns. These expenses can add up quickly, and artists should take advantage of this tax benefit to minimize their taxable income. Art materials, such as paints, brushes, canvases, and other creative tools, are fundamental to an artist's creative expression. As business expenses, these costs can be deducted from the artist's gross income, reducing their tax liability.

To qualify for deduction, art supplies must be used primarily for business purposes and not for personal use. Artists should maintain accurate records of their expenses, including receipts, invoices, and bank statements, to support their deductions in case of an audit. Additionally, artists should keep track of the business use percentage of their art supplies, as this will affect the amount of the deduction. By accurately tracking and documenting their art supply expenses, artists can optimize their deductions and minimize their tax burden, allowing them to focus on their creative expression.

Home Studio Expenses

In addition to art supplies, artists who operate from a home studio can also deduct a portion of their rent or mortgage interest, utilities, and other expenses related to the business use of their home, subject to specific IRS guidelines and restrictions. This can include expenses such as Studio Acoustics and Studio Lighting, which are vital for creating a functional and efficient workspace.

To qualify for these deductions, artists must demonstrate that their home studio is used regularly and exclusively for business purposes. This can be achieved by maintaining accurate records of business use, including logs of work hours, photographs of the studio, and receipts for business-related expenses.

| Studio Lighting | 100% | $1,500 (full deduction)

Non-Profit Organization Tax Exemptions

Most non-profit organizations, approximately 1.5 million in the United States alone, rely on tax exemptions to fulfill their charitable, educational, or religious purposes without incurring significant tax liabilities. To qualify for tax exemption, non-profit organizations must navigate the Exemption Process, which involves applying for recognition of exempt status from the Internal Revenue Service (IRS). This process typically involves filing Form 1023 or Form 1024, depending on the organization's specific circumstances.

A vital aspect of non-profit tax planning is understanding Donation Limits. The IRS sets specific guidelines for charitable contributions, including rules for deductibility and limits on the amount of donations that can be claimed as deductions. Non-profits must verify that they comply with these regulations to maintain their tax-exempt status and avoid jeopardizing the tax benefits afforded to their donors. By grasping the intricacies of the Exemption Process and Donation Limits, non-profit organizations can optimize their tax planning strategies, guaranteeing they can continue to pursue their mission without unnecessary tax burdens.

Maximizing Business Expense Deductions

When optimizing business expense deductions, special interest groups should focus on accurately capturing and documenting specific expenditures to minimize taxable income. This includes claiming home office expenses, deducting travel costs, and tracking business mileage, all of which require meticulous record-keeping and adherence to relevant tax regulations. By doing so, these groups can guarantee they are taking full advantage of available deductions and minimizing their tax liability.

Claiming Home Office Expenses

Calculating the business use percentage of your home office expenses necessitates meticulous record-keeping and adherence to IRS guidelines to guarantee accurate and optimal deductions. To claim home office expenses, it is necessary to determine the business use percentage of your home, which can be done using the Simplified Option for Home Office Deduction or the Actual Expenses method. The Simplified Option allows for a standard deduction of $5 per square foot of home office space, up to a maximum of $1,500. On the other hand, the Actual Expenses method requires tracking actual expenses, such as utilities, insurance, and maintenance.

Optimizing space allocation within the home office is key to securing the largest deductions. This involves allocating specific areas for business use and keeping records of furniture and equipment used for business purposes. Furniture depreciation is also an important aspect to take into account, as it can be claimed as a business expense over time. Accurate record-keeping and adherence to IRS guidelines are necessary to verify that home office expenses are claimed correctly and in compliance with tax laws. By following these guidelines, special interest groups can claim the largest business expense deductions and minimize their tax liability.

Deducting Travel Costs

Regularly, business owners and self-employed individuals in special interest groups incur travel costs that can be claimed as deductions, provided they maintain accurate records and adhere to IRS guidelines. To optimize business expense deductions, it is vital to understand what travel costs are eligible for deduction.

• Transportation costs, including airfare, rental cars, and gas for business trips
• Accommodation expenses, such as hotel stays and lodging
• Meal expenses, including tips and taxes, subject to the 50% limitation
• Other travel-related expenses, such as baggage fees, travel insurance, and parking fees

Meticulous record-keeping is vital to support these deductions. Road Warriors, who are frequent travelers, can benefit from maintaining a Travel Diary to log their business trips, including dates, destinations, and business purposes. This documentation will help establish the business connection and confirm compliance with IRS regulations. By following these guidelines, special interest groups can minimize their tax liability and optimize their travel expense deductions.

Tracking Business Mileage

To accurately quantify business mileage, special interest groups must implement a reliable mileage tracking system, as precise records are vital for claiming deductions on business-related vehicle expenses. This is particularly essential, as the Internal Revenue Service (IRS) requires detailed records to substantiate mileage claims. Leveraging mileage tracking apps, such as MileIQ or TripLog, can greatly simplify the process by automatically recording and logging business miles driven. These apps often provide features such as GPS tracking, automated expense categorization, and customizable reporting, ensuring compliance with IRS regulations. When claiming vehicle-related deductions, special interest groups must also consider the chosen vehicle depreciation method. The Modified Accelerated Cost Recovery System (MACRS) and the Alternative Depreciation System (ADS) are two common methods used to calculate vehicle depreciation. By accurately tracking business mileage and selecting the appropriate depreciation method, special interest groups can optimize their business expense deductions, ultimately reducing their tax liability.

Credits for Education and Training

One of the most overlooked yet valuable tax benefits for individuals and businesses alike is the array of credits available for education and training expenses. These credits can provide significant savings for those investing in career advancement and personal development.

• The Lifetime Learning Credit provides up to $2,000 per year for qualified education expenses, such as tuition, fees, and course materials.
• The American Opportunity Tax Credit offers up to $2,500 per year for qualified education expenses, including student loan interest.
• The Educator Expense Deduction allows teachers to deduct up to $250 of out-of-pocket classroom expenses.
• The Student Loan Interest Deduction provides up to $2,500 in deductions for interest paid on qualified student loans.

Individuals and businesses can take advantage of these credits to offset the costs of education and training, ultimately reducing their tax liability. By understanding and leveraging these credits, individuals can invest in their career advancement and personal development while minimizing their tax burden.

Managing Self-Employment Taxes

While investing in education and training is essential for career advancement, self-employment brings its own set of tax complexities that require careful planning to minimize liability. As a self-employed individual, it is crucial to understand the tax implications of your business income and expenses. This includes accurately calculating your net earnings from self-employment, which are subject to self-employment taxes.

These taxes consist of both the employer and employee portions of payroll taxes, which can significantly impact your tax liability. To avoid potential penalties, it is essential to make Quarterly filings of Form 1040-ES, estimating your tax liability throughout the year. Failure to do so may result in underpayment penalties. Additionally, self-employment income can push you into higher tax brackets, increasing your overall tax liability. Therefore, it is vital to consider strategies such as income shifting, expense deductions, and retirement plan contributions to minimize your tax burden. By understanding and proactively managing self-employment taxes, you can ensure compliance with tax laws and optimize your financial situation.

Avoiding Common Audit Triggers

Self-employed individuals can substantially reduce their audit risk by identifying and mitigating common triggers, such as inaccurate or incomplete business expense documentation, disproportionate income statements, and unreported cash transactions. It is essential to maintain accurate and detailed records, as the IRS often targets self-employed individuals with unclear or incomplete documentation.

To avoid audit triggers, consider the following:

• Entity Classification : Ensure correct classification of your business entity, as this affects tax obligations and reporting requirements.
• Financial Transparency : Maintain transparent financial records, including accurate income statements, expense reports, and cash flow statements.
• Expense Documentation : Keep detailed records of business expenses, including receipts, invoices, and bank statements.
• Consistent Reporting : Consistently report income and expenses across all tax returns and financial statements to avoid discrepancies.

Frequently Asked Questions

How do i handle taxes on cryptocurrency investments and trades?.

When handling taxes on cryptocurrency investments and trades, accurately track and report gains and losses to minimize Crypto Tax liabilities. Strategically harvest Crypto Loss to offset gains, and consider consulting a tax professional to confirm compliance with evolving regulations.

What Tax Implications Come With Inheriting a Business or Assets?

Inheriting a business or assets triggers complex tax implications, necessitating accurate estate valuation and a well-structured succession strategy to minimize tax liabilities, ensuring a seamless handover and preserving the inherited wealth.

Can I Deduct Home Office Expenses if I Work Remotely for an Employer?

When working remotely for an employer, you may be eligible to deduct home office expenses, but be aware of deduction limits. Verify a dedicated workstation setup and accurately track expenses to claim the home office deduction, adhering to IRS guidelines.

How Do I Report and Pay Taxes on International Income Earned?

As a digital nomad, reporting international income requires filing Form 1040, reporting foreign-earned income on Schedule B, and claiming the Foreign Earned Income Exclusion (FEIE) on Form 2555, ensuring accurate taxation and compliance with IRS regulations.

Are There Tax Benefits for Environmentally Friendly Business Practices?

Businesses adopting Green Initiatives can benefit from Sustainable Incentives, such as tax credits, deductions, and exemptions, which encourage environmentally friendly practices, reducing taxable income and promoting eco-responsibility.

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Harris calls for raising corporate tax rates to 28%

The tax foundation found that raising the corporate tax rate would reduce the number of full-time jobs by 128,000.

Art Laffer: Every problem has a government solution to Kamala Harris

 Former Reagan economist Art Laffer reacts to the vice president pushing for trillions in handouts on Kudlow.

Vice President Harris' economic policy roll out continued Monday as her campaign said that if she wins the presidency she would push to raise the corporate tax rate to 28% from its current level of 21%.

Harris campaign spokesperson James Singer said the policy is "a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share."

The U.S. corporate tax rate was 35% when former President Trump, who is now Harris' main electoral rival for the presidency, and congressional Republicans enacted the Tax Cuts and Jobs Act (TCJA) in 2017. The law lowered the corporate tax rate to 21% while also reducing personal income taxes for most taxpayers.

Harris' proposal aligns with President Biden's budget proposal for fiscal year 2025 that was released earlier this year and had the corporate tax rate rising to 28%.

HARRIS' ECONOMIC PLAN WOULD ADD OVER $1.7T TO NATIONAL DEBT: CRFB

Vice President Harris' campaign said that she supports raising the corporate tax rate from 21% to 28%. (Allison Joyce/AFP via Getty Images / Getty Images)

It also represents a departure from the position Harris adopted in her short-lived 2020 presidential campaign, in which she called for returning the corporate tax rate to its pre-TCJA rate of 35% to help finance her progressive platform.

An analysis by the nonpartisan Tax Foundation of the FY2025 Biden-Harris budget proposal found that the higher corporate income tax rate had the most significant negative impact on economic growth and the labor market of the policies put forward.

HARRIS SAYS HER ECONOMIC PLAN WILL 'PAY FOR ITSELF'

Vice President Harris' stance on raising the corporate income tax rate to 28% aligns with President Biden's budget. (Brendan Smialowski/AFP via Getty Images / Getty Images)

"Raising the corporate income tax rate to 28 percent is the largest driver of the negative effects, reducing long-run GDP by 0.6 percent, the capital stock by 1.1 percent, wages by 0.5 percent, and full-time equivalent jobs by 128,000," the Tax Foundation wrote.

The organization's analysis estimated that raising the corporate tax rate to 28% would bring in $1.023 trillion in tax revenue over the 2024-2034 period.

U.S. ECONOMISTS LIST TOP ELECTION ISSUES: NABE

The Biden-Harris administration was unable to raise the corporate tax rate when Democrats controlled both chambers of Congress. (Allison Joyce/AFP via Getty Images / Getty Images)

The nonpartisan Committee for a Responsible Federal Budget (CRFB) also analyzed the FY2025 Biden-Harris budget proposal, which found that raising the corporate income tax rate from 21% to 28% would bring in $1.425 trillion in tax revenue over 2024-2034.

Raising the corporate income tax rate to 28% would push that rate above the worldwide average, which stood at an average of 23.45% on average across 181 jurisdictions as of December 2023, according to the Tax Foundation. When weighted by GDP, it found the average corporate tax rate was 25.67%.

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Harris' announcement comes after she unveiled part of her economic agenda on Friday that CRFB estimated would cost at least $1.7 trillion over a decade, potentially rising to $2 trillion if certain provisions supporting the housing industry were made permanent.

Reuters contributed to this report.

TRAFFIC ALERT: In Anne Arundel County, 1 lane is open on I-95 southbound after MD-175 (#41) due to a crash investigation

Harris campaign releases new ad to highlight plans to build 3 million homes and reduce inflation

The Associated Press

August 27, 2024, 4:36 PM

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WASHINGTON (AP) — Vice President Kamala Harris has a new advertising push to draw attention to her plan to build 3 million new homes over four years, a move designed to contain inflationary pressures that also draws a sharp contrast to Republican Donald Trump’s approach .

Harris, the Democratic nominee for president, highlights her plan in a new minute-long ad released Tuesday that uses her personal experience, growing up in rental housing while her mother saved for a decade before she could buy a home. The ad targets voters in the swing states including Arizona and Nevada. Campaign surrogates are also holding 20 events this week focused on housing issues.

In addition to increasing home construction, Harris is proposing the government provide as much as $25,000 in assistance to first-time buyers . That message could carry weight at this moment as housing costs have kept upward pressure on the consumer price index. Shelter costs are up 5.1% over the past 12 months, compared to overall inflation being 2.9%, according to the Bureau of Labor Statistics.

“Vice President Harris knows we need to do more to address our housing crisis and that’s why she has a plan to end the housing shortage” and will crack down on “corporate landlords and Wall Street banks hiking up rents and housing costs,” said Dan Kanninen, the campaign’s battleground states director.

The Harris plan would create tax breaks for homebuilders focused on first-time buyers and expand existing incentives for companies that construct rental housing. Because local zoning often restricts the supply of homes, she would also double the available funding to $40 billion to encourage local governments to remove the regulations that prevent additional construction.

Although Trump made his reputation as a real estate developer, data shows that there was a shortage of available housing during his presidency that has continued.

That shortage became more problematic when inflation jumped as the country recovered from the pandemic and faced higher food and energy costs after Russia’s invasion of Ukraine. The high inflation damaged the approval ratings of President Joe Biden, who Republicans and some economists blamed for sparking the price runups with his pandemic aid.

Mortgage rates climbed to levels that were prohibitively high for many would-be buyers. At the same time, many existing homeowners held off on listing their properties for sale in ways that compounded the inflation challenge.

Trump has floated an array of ideas for lowering housing costs — including his suggestion in a June speech in Wisconsin that stopping illegal immigration would reduce demand for housing and bring down prices.

“I will also stop inflation by stopping the invasion, rapidly reducing housing costs,” Trump said.

There is also the possibility of opening up more federal land for home construction with the Trump campaign proposing a competition to charter as many as 10 new cities. Economists supportive of Trump’s agenda have suggested — despite deficits climbing during his presidency — that Trump would get federal spending under control if he was president again, which would lower interest rates.

The Trump campaign has also opposed efforts by Democrats to encourage the construction of apartments and condominiums in suburbs and cities, which could alleviate the housing shortage. Trump has said in a video that such efforts are “Marxist” and would be a “war on the suburbs” that would destroy property values.

Karoline Leavitt, the Trump campaign’s national press secretary, in a statement said that “Kamalanomics” is to blame for home ownership becoming less attainable, an attempt to undermine Harris’ message of being a change candidate who can open up opportunities for the middle class.

Trump’s main play has been to claim that Harris can’t pay for her housing agenda. That’s even though he also attacks her for supporting tax increases and other revenue raisers proposed by Biden that could in theory offset the costs.

“She has no clue how’d she paid for $25,000 to every first-time homebuyer, including illegals,” said Trump at an August 19 rally in York, Pennsylvania, claiming without clear evidence that her policy would support immigrants without legal status.

The Harris campaign plans to hold housing affordability events in the Pennsylvania cities of Harrisburg, Philadelphia and Pittsburgh, as well as the Arizona cities of Phoenix and Tucson. There will also be events in the Nevada cities of Las Vegas and Reno and the North Carolina cities of Asheville and Charlotte, in addition to Savannah, Georgia.

Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

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Money blog: Oasis ticket prices revealed; pensioners forced to answer 243 questions to claim winter fuel payments

The Money blog is a hub for personal finance and consumer news and tips. Today's posts include some older people having to fill out a 243-question form to receive winter fuel payments - and listen to a Daily podcast episode on the policy change as you scroll.

Thursday 29 August 2024 16:01, UK

• Pensioners face 243-question form to get winter fuel payment
• Oasis ticket prices revealed
• ASOS announces change to returns policy in cryptic email
• Listen to the Daily above or tap here to follow wherever you get your podcasts

Essential reads

• Has the Nike trainer bubble burst?
• Top chef shares cheap soup recipe - as he picks best budget eats in Kent

Tips and advice

• Treat savings like monthly bill, says savings guru
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• Hidden refund option that could save you hundreds of pounds

Sir Keir Starmer today refused to deny reports his government is considering banning smoking in some outdoor spaces like pub gardens - sparking concern from the struggling  hospitality industry.

UKHospitality CEO Kate Nicholls said: "A ban on smoking in outdoor spaces comes with the prospect of serious economic harm to hospitality venues. 

"You only have to look back to the significant pub closures we saw after the indoor smoking ban to see the potential impact it could have. 

"This ban would not only affect pubs and nightclubs, but hotels, cafes and restaurants that have all invested significantly in good faith in outdoor spaces and continue to face financial challenges."

UKHospitality wants the government to conduct a thorough consultation on the potential impacts - and suggests a ban might not even reduce smoking, but "simply relocate smoking elsewhere, such as in the home".

The demise of the British pub was the focus of a Money blog long read earlier this month - it's well worth five minutes of your commute home...

Ticket prices for Oasis's major reunion tour have been revealed - and the cheapest ticket comes in at less than £100.

Prices listed on the See Tickets and Gigs and Tours websites show seated tickets start at £73 for the Cardiff shows, £74 in Edinburgh and £74.25 for Wembley.

Standing tickets are more expensive, starting at £151.25 in Wembley, £148.50 at Heaton Park, £150 in Cardiff and £151 in Edinburgh.

Earlier today, Oasis announced three extra concert dates in the UK due to "unprecedented demand" for tickets.

The additional gigs mean the band will now play five Wembley concerts, five in their home city, and three in Scotland - on top of two in Ireland and two in Wales.

Yesterday it was revealed that ticket prices for shows at Croke Park in Dublin would start at €86.50 (£73).

By comparison, tickets for Taylor Swift's monster Eras Tour started at around £59 for the cheapest seated tickets at Wembley, rising to as much as £195. Standing tickets came in at around £110.

However, the huge demand for tickets to see Swift saw some people having to pay hundreds or even thousands of pounds for tickets sold at surge prices or through resale sites.

Fans of Bruce Springsteen equally paid around £65 for seated tickets and £120 for standing at his recent tour.

We recently did a deep dive into why ticket prices seem to have entered a new stratosphere in recent years.

You can read the full story here:

Here's the full Oasis reunion tour line-up:

• 4 July 2025 - Principality Stadium, Cardiff
• 5 July 2025 - Principality Stadium, Cardiff
• 11 July 2025 - Heaton Park, Manchester
• 12 July 2025 - Heaton Park, Manchester
• 16 July 2025 - Heaton Park, Manchester - added date
• 19 July 2025 - Heaton Park, Manchester
• 20 July 2025 - Heaton Park, Manchester
• 25 July 2025 - Wembley Stadium, London
• 26 July 2025 - Wembley Stadium, London
• 30 July 2025 - Wembley Stadium, London - added date
• 2 August 2025 - Wembley Stadium, London
• 3 August 2025 - Wembley Stadium, London
• 8 August 2025 - Murrayfield Stadium, Edinburgh
• 9 August 2025 - Murrayfield Stadium, Edinburgh
• 12 August 2025 - Murrayfield Stadium, Edinburgh - added date
• 16 August 2025 - Croke Park, Dublin
• 17 August 2025 - Croke Park, Dublin

Older people are having to fill out a 243-question form to access pension credit and winter fuel payments - a task that will be "daunting" for some, charities have said.

The government has launched a campaign urging eligible people to apply for pension credit after Rachel Reeves announced last month that the winter payments would be means tested.

But some have claimed the 22-page 243-question form could put pensioners off signing up, meaning they'll miss out on a vital payment as temperatures fall.

While the length of the form is typical for a means-tested benefit, the amount of information required could be difficult for some older people, charities say.

Caroline Abrahams, charity director at Age UK, told the Money blog: "The pension credit form has 243 boxes to navigate. It is not particularly long or complex as claim forms go, but completing it would still pose a challenge for many of us, including many older people with no one to help them."

Independent Age's chief executive Joanna Elson agreed, saying the scale of questions "can sometimes be complex, and gathering this amount of personal information can be daunting".

She also said older people struggling financially "may be experiencing stress and anxiety which can make a long form difficult to tackle".

Meanwhile, anti-poverty charity Turn2us said forms for means-tested benefits are typically this long.

It noted that most people who receive winter fuel payments won't need to make a claim, and for those who do, the questionnaire won't be as long as that needed for pension credit.

But Turn2us benefits expert David Samson said the "needless complexity" of the social security system was a "major barrier" for people trying to access support.

"Currently, around 850,000 eligible pensioners are not claiming pension credit, and without timely support to apply, they are at risk of missing out on the winter fuel payment," he said.

Charities have raised concern that the government's pension credit awareness drive is not allowing enough time to increase low take-up of the benefit.

Ms Abrahams said: "We are conscious that time is now very short with the last date for claiming pension credit in time to secure your winter fuel payment this winter being 21 December, only just over four months away.

"Expecting the current 63% take up figure for pension credit to rise substantially in these circumstances would be very much a triumph of hope over experience."

Ms Elson said the government must do "all it can" to remove barriers to receiving pension credit. 

A spokesperson for the Department for Work and Pensions told Money that more staff were covering a rise in calls about the benefit.

"There is no increase in pension credit processing time. We have surged additional staff to cover increasing pension credit calls and urge anyone who thinks they may be entitled to pension credit to check now," they said.

ASOS has announced it will soon be making changes to its "fair use" policy - leaving many wondering if it will become the latest retailer to scrap free returns.

The online fashion giant sent an email to premier and non-premier members over the weekend, explaining it would be making changes to its fair use policy in relation to returns "in the next couple of weeks".

It said the new policy would apply to a "small group of customers", but did not give any more details.

The cryptic email has sparked speculation that ASOS may be amending its free returns policy in the UK after rolling out a similar strategy in the US last year.

That policy sees customers charged a $4.99 fee for returns when they are deemed to "constantly take actions that make providing them with free returns unsustainable".

Rival brands such as Boohoo, PrettyLittleThing, Zara and H&M have started charging customers for returns after seeing a rise in large-scale takebacks.

A 2021 survey also found online returns alone cost UK retailers around £5.2bn a year on average.

Corin Camenisch, of financial technology company SumUp , said customers may be less inclined to keep shopping with certain retailers if they face an additional cost to return unwanted or faulty items.

"However, if the policy is implemented on a case-by-case basis and only affects customers who are so-called 'serial refunders', like it is in the US, customers may not notice a difference," she said.

"They may even have a more positive shopping experience, as policy updates are often made to improve efficiency within their distribution centres."

What are your rights?

Regulations state that consumers have a right to return an item they have purchased online.

The product does not have to be in its original packaging, but a company is entitled to ask for some form of proof of purchase.

Companies are not allowed to charge you for items that were placed in your online shopping basket as a result of a pre-ticked box.

Under the Consumer Rights Act 2015, consumers also do not have to pay for returns if their item is faulty or not as described. 

By  Sarah Taaffe-Maguire , business reporter

After the news the government has stopped defending environmental challenges against Shell's Jackdaw untapped gas site in Scotland, the energy giant is one of the 100 most valuable companies suffering share price falls on the London Stock Exchange.

It's down 0.46%, one of the biggest drops in the FTSE 100 index. 

We're yet to see the market impact on the other fossil fuel producer affected by the government decision, the Norwegian state-owned Equinor. 

It's listed on the New York Stock Exchange, which is not yet open for trading. It's the company developing the UK's largest untapped oil and gas field. 

The dollar has strengthened slightly against sterling, with £1 equal to $1.3192, lower than the recent two-year high of $1.32. The pound has increased in value against the euro and is now at a month high, with a pound buying €1.1895.

Oil has remained below $80 with a barrel of the benchmark Brent crude oil priced at $78.36.

A poll has offered some insight into whether Britons would support limiting airport drinking.

Ryanair boss Michael O'Leary wants a two-drink limit at airports to stop drunken behaviour in the sky.

Wetherspoons boss Sir Tim Martin suggested Mr O'Leary might want to look at his own airline's discounting of alcohol before imposing rules on others - and plenty of Money blog commenters pushed back similarly.

But a poll of Sky News followers on LinkedIn suggests almost half the public - at least the section that exists on that platform - think Mr O'Leary has a point... 

Readers/followers who don't want a limit (or don't support Ryanair)...

The cynic in me is wondering if he's worried that tanked up passengers may go to sleep on board and not buy his overpriced tins of warm Guinness? Laura Andrus

You need more than two drinks before getting on a Ryanair flight. Iain McCall

Sorry, are we living in a dictatorship? It is every passenger's responsibility to ensure they consume the appropriate amount of alcohol should they decide to drink. Sylvester Odozi

If Ryanair flights were on time you'd probably only have time for two drinks. Just a thought 💭 Louise Swain

Readers/followers who agree with a booze limit (or something)...

Michael O'Leary is a standing up for himself and his business. This country does have a drink problem. Paul.P

Two drinks is enough, especially in the mornings. Alcohol is a drug and alters behaviour and I have been on plenty of flights where drunk guests behaved appallingly. claudia

Should be a total ban on all alcohol in airports. Because you have to arrive so many hours before your flight, some people just go mad and ruin it for others. Pendragon

Something's got to be done! Endured a horrific drunk on our flight, terrifying. Shazc

Why not consider breath tests if any person is suspected of heavy drinking, if you fail you don't fly! Easy. Barry

The UK's financial watchdog is investigating a £4bn insurance market following concerns it is not providing "fair value" for customers seeking financial protection in case of serious illness or death.

The Financial Conduct Authority (FCA) has announced it is launching a market study into so-called pure protection products, which are designed to help individuals and their families with their finances should the policyholder die or become unable to meet their financial commitment.

It said it had "concerns that the design of commission arrangements may not allow firms to deliver good outcomes to policyholders".

The FCA said it was also worried that some products may be providing poor value - eg where a customer pays more for the product over a lifetime than the maximum possible payout.

Some £4bn was paid out in pure protection insurance claims in 2022, the FCA said.

The policies are mainly sold through independent advisers or mortgage brokers.

Sheldon Mills, executive director of consumers and competition at the FCA, said: "Pure protection can offer peace of mind and financial security, often when people are at their most vulnerable.

"Consumers should be able to buy products which meet their needs and provide fair value. We have seen indications that this may not be the case across the pure protection market, and we will act if we find that the market is not working well."

The boss of JD Wetherspoon has rejected calls for a limit on pre-flight drinking at airports after Ryanair chief executive Michael O'Leary called for the move to tackle disorder on flights.

Mr O'Leary said passengers should be limited to two drinks to crack down on antisocial behaviour and violence.

But responding to the call today, Sir Tim Martin says there have been "no complaints about our pubs from the airport authorities or airlines" in recent years.

He told the Telegraph that Wetherspoons airports no longer sell shots or "double up" offers.

"Ryanair, in contrast, offers a discount on Irish whiskey if a double is ordered," he said.

Sir Tim also that said in the past month only 33% of sales at his airport pubs came from alcohol, with coffee, tea and soft drinks making up 25%.

Sir Tim says all his premises have CCTV to help identify any disorder.

He also said there's evidence to suggest most cases of drunkenness and violence are on inbound, rather than out bound flights.

Mr O'Leary told the Telegraph yesterday that he didn't want to "begrudge people having a drink" but added: "We don't allow people to drink-drive, yet we keep putting them up in aircraft at 33,000 feet."

According to Ryanair, Liverpool, Manchester, Glasgow and Edinburgh are four of the most problematic airports for the carrier.

What do you think? Let us know in the comments box or vote here in our LinkedIn poll

For Savings Guide this week, Savings Champion co-founder Anna Bowes looks at the top regular saver accounts this month...

If you don't have a lump sum to invest, one of the best ways you can get into the savings habit is to open a regular saver account and deposit the amount you can afford the day after you are paid, so it becomes like another bill - but one that you can benefit from in the future.

Regular savings accounts pay some of the top rates available as you are normally restricted by the amount you can deposit and you may not be able to dip into the cash very often, if at all over a given term.

In fact, there are usually a number of terms and conditions to keep an eye on to make sure you earn the interest you are expecting. 

And some of the top accounts are only accessible if you hold a current account with the provider. But normally you won't need to transfer your primary current account. 

Regular savings accounts normally offer a fixed rate of interest for a set term, but there are also many variable rate accounts around, so keep your eyes peeled.

The top regular saver rates on offer have been unaffected by the base rate cut and we have even seen a newcomer to the market recently. 

Virgin Money has jumped straight to the top of the table, offering its current account holders' access to a fixed rate of 10% gross/10.38% AER on deposits of up to £250 a month until maturity on 31 July 2025.

The requirement for a current account is pretty common for the top regular savings accounts, but not all accounts have this requirement.

The Progressive Building Society is paying 7% gross/AER, fixed for 12 months - on deposits of up to £300 a month - and you do not need to have a current account with the provider.

Bottom line is that it's important to check whether opening a new current account just to have access to the regular saver is a good idea.

A consumer champion has called for the Competition and Markets Authority to intervene on dynamic pricing used by hotels - as more Sky News readers got in touch to say they've had their hotel bookings cancelled by a prominent chain on nights when Oasis are playing.

Maldron Hotels says a "technical error" meant more people booked rooms than they had capacity for in Manchester on nights of the concert - and that the same error meant that, after people's bookings were cancelled, rooms were advertised at an inflated price.

It denied it was an attempt to "resell rooms at inflated prices" ( see 11.07 post yesterday ) after some accused the firm of attempted profiteering.

Scott Dixon, AKA  The Complaints Resolver , says trying to enforce a booking legally is very problematic.

He described dynamic pricing - or "price gouging" - as "insidious".

"We need the Competition and Markets Authority to clamp down on this practice," he said.

Lots of you have got in touch over the last 24 hours saying you've been affected by the cancellation of bookings at Maldron Hotels' Manchester sites after Oasis's major comeback tour was announced.

Your stories

Craig Davies, from Nantwich , says he booked rooms priced at £136.20 each for him, his partner and four friends to stay at Maldron Hotels in Manchester city centre for an "anniversary treat" on 12 July next year.

He says he made the booking at 4.30am on Tuesday morning - before the 8am announcement by Oasis that they'd be heading to the city that night as part of their comeback tour.

Mr Davies was among many people later contacted by the hotel asking to cancel the booking.

"Six unhappy folk now who cannot afford their revised rates. Hotel don't seem too bothered, sadly," Craig says. "This is clearly a joke, right?"

Ian Bittel from Sunderland says he promptly booked a room for 13 July 2025 at Maldron Hotels as the announcement came on Tuesday morning, but at 9pm he received the email to cancel.

He says his daughter also booked a room there for 20 July 2025 a little later on Tuesday and received a cancellation email just before 10.45am on Wednesday.

"It's frustrating as now hotel prices have tripled," Ian says.

Meanwhile, Colin McMillan, from Glasgow, says the seemingly mass cancellation of bookings by Maldron Hotels in Manchester is a "poor look for the city" and the hotel industry.

He says he booked two rooms on Monday - the day before the reunion announcement - one for two nights from 11 to 13 July 2025 for £303 and another from 19 to 21 July for £316.50.

He was also asked to cancel despite receiving a booking confirmation.

"I haven't accepted the cancellation request but when I explained that to the staff member on the phone, she said it didn't matter as it wasn't an optional request and the stays would be cancelled anyway," Colin tells us.

He says he spoke to Maldron Hotels' reservation department for 10 minutes and was directed to booking.com - the company he reserved the rooms through - when he asked about an escalation process.

"It's a really poor look for the city and the industry that a hotel would look for short-term gain through gouging like this and alienate existing customers forever," Colin says.

He adds that he'll now have to rethink trying to get tickets for the gigs as no similar hotels are available.

Ross Jordan, who is also from Glasgow , says he and three other guests who are due to attend a family wedding during the first run of Oasis's dates at Heaton Park had booked rooms at the Manchester hotel.

"They have requested me to cancel which I have not done," he says. "This will cost us hundreds of pounds as we have booked flights etc."

What has the hotel chain said?

Maldron Hotels said in a statement to the Money blog that a technical error on Monday and Tuesday led to "substantially more" rooms being booked at its two Manchester hotels than were available for the nights of the four Oasis concerts.

It said it would be unable to honour bookings made on these dates as a result, and no bookings are currently being taken while the issue is investigated.

"This is not an attempt to resell rooms at inflated prices, rather an overbooking issue due to a technical error with our booking systems," the hotel said.

"Additionally, due to the same technical error, a small number of customers were able to book the rooms at a higher price later that evening. We will also be unable to accommodate these bookings.

"We will be honouring all bookings made prior to 26 August. 

"We sincerely apologise for any inconvenience caused."

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Central Coast Council is pleased to announce the winners of this year’s Gosford Art Prize, with $28,000 in prize money.

This year 908 entries were received from across Australia, with 135 of the artworks selected as finalists for exhibition, making it a difficult job for both the selection panel and finalist judges, which comprised artist Peter Godwin and curator Libby Knott.

While it was a difficult task, the judges were unanimous in their selection for the first prize winner – local Central Coast artist Maree Azzopardi, for her artwork ‘The Crossings’.  In winning first prize, Ms Azzopardi also won $15,000. Commenting on the winning artwork by Ms Azzopardi, Judge Peter Godwin said he enjoyed the historical metaphor and symbolism of the artwork.   Central Coast Council Administrator Rik Hart said the Gosford Art Prize is known for making a real difference to an artist’s career.

“The Gosford Art Prize  offers an exciting range of opportunities for visual artists working in any art form to showcase their work to a large audience and potentially become an acquisition of the Central Coast’s art collection. “Once again, the calibre of artists from around the country was extremely high – however it was fantastic that the winner was local artist Maree Azzopardi from The Entrance and that 30% of the finalists were from the Central Coast.  

"This is a real indication of the strength of the art scene on the Coast,” Mr Hart said.

“I would like to congratulate Maree Azzopardi as the major winner however we also offer congratulations to the other category winners and to all the artists who entered from across Australia.” Central Coast Council Director of the Regional Gallery, Tim Braham said the selection panel aimed to include a variety of styles, content and techniques with fierce competition amongst a range of artwork.

“Events such as this annual Gosford Art Prize, provide opportunities for both local and national artists to bring quality contemporary art to the Central Coast.  “The Gosford Art Prize has evolved from its humble beginning in the 70s, to now be  recognised as a significant goal for artists to aim for,” Mr Braham said.  The winners of the other categories are:  •    Second Prize $5,000 Kim Fasher with artwork Missing Mythology •    Aboriginal Artist Prize $2,500 Ethan-James Kotiau - Gurrba - Fishing Net •    Gosford Ceramics Prize $2,500 Kelly Austin with artwork Stilled Composition 119     •    Highly Commended (three prizes) $1,000 each:       - Armando Chant - Dusk Over the Mountain       - Elle Kaufmann - Mellow Yellow       - Lihnida Krstanoska – Blazeska – A Faithful Dog Killed in Error      

Mr Braham added the perennial favourite ‘Viewer’s Choice Award’, will be decided by visitors to the Gallery voting on their favourite entry, at the end of the exhibition period.  The winner will receive the honour plus $500 prize money.

The 2024 finalist exhibition is display until 20 October 2024 at the Gosford Regional Gallery, 9.30am – 4pm daily, entry is free.

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Who Was on the Sunken Yacht? Tech Mogul Mike Lynch, His Family and Friends.

Mr. Lynch, the former chief executive of the software firm Autonomy, who was acquitted on fraud charges in June, was with friends and family when the yacht went down in a severe storm.

• Share full article

By Michael J. de la Merced

Michael de la Merced reported on Mike Lynch’s career and legal battles over the course of 13 years across two continents.

A cruise on the Mediterranean Sea aboard a superyacht was supposed to be a celebratory event for the British tech entrepreneur Mike Lynch , who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.

Instead, it turned into a disaster after the yacht, a 180-foot boat called the Bayesian, sank off the coast of Sicily in a violent storm. Of the 22 people aboard, 15 were rescued and seven others died . Search operations ended on Friday after the final body was recovered from the site of the sunken yacht .

Here’s what we know about the passengers.

Mike Lynch and his family

Mr. Lynch, 59, is a British software entrepreneur who had once been described as his country’s Bill Gates. He founded the software firm Autonomy, which analyzed clients’ unorganized data, and turned it into one of the most prominent British technology companies of its time. He became a widely known corporate leader, who advised David Cameron, the British prime minister at the time, and joined the board of the BBC.

In 2011, Mr. Lynch sold Autonomy to Hewlett-Packard for $11 billion, which was far above its market value, earning him hundreds of millions. But HP investors almost immediately soured on the transaction, and the American tech giant quickly fired its chief executive — and then Mr. Lynch.

HP later accused Mr. Lynch of misleading it about the state of Autonomy’s business, setting off a decade-long legal ordeal for the British executive, who denied the accusations. U.S. prosecutors charged him and other executives with fraud, and Autonomy’s chief financial officer was convicted in 2018.

Despite appeals to the British government, Mr. Lynch was extradited to the United States last year and was confined to a townhouse in San Francisco ahead of his criminal trial, which began in March. Facing the possibility of decades in prison if convicted, Mr. Lynch and another colleague were instead acquitted of all charges.

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Life-size dinosaurs, a candy store tour and more to do this weekend

Take a road tip to Wiscasset for art, food, car racing and a gargantuan amount of candy.

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One of many dinosaurs that will be at Cross Insurance Arena in Portland. Photo courtesy of Jurassic Quest

Make no bones about it, it’s going to be a great weekend, starting with  Jurassic Quest at Cross Insurance Arena . Animatronic dinosaurs will delight the kids, who will also get a kick out of digging for fossils and riding on a baby dino. Another option in our weekly roundup is “Beautiful: The Carole King Musical” at the Maine State Music Theatre in Brunswick.

‘Beautiful’ at Maine State Music Theatre, Pet Rock in the Park and Jurassic Quest

Some of the candy available at the Granite Hall Store in Round Pond. Photo by Aimsel Ponti

For an even sweeter experience, we’re sending you candy shopping. We’ve shined a light on five shops  with something extra to offer and created a nifty guide of 18 to look you can find  all around southern Maine and the Midcoast. From giant shops like Sweetz & More in Wiscasset to charming places like the Granite Hall Store in Round Pond, there’s a candy shop out there calling your name.

These 5 unique Maine candy stores are a real treat

The Brackett’s Market 4-Cylinder Pros compete Saturday at Wiscasset Speedway. Anna Chadwick/Morning Sentinel

Should your sweets-seeking adventure bring you to Wiscasset, we clue you into  several other things to do  in town, including car races at the Wiscasset Speedway.

A trip to pretty Wiscasset can also include art, history, speed

Bagel sandwich with eggs, cheese and pork roll from Dutchman’s Wood-Fired Bagels in Brunswick. Photo by Aimsel Ponti

Want to hit breakfast right out of the park? Make your way to Brunswick for an egg and cheese sandwich from Dutchman’s Wood-Fired Bagels . We’re particularly partial to the one with pork roll and bodega sauce. Your taste buds can thank us later.

Pork roll and bodega sauce on a breakfast sandwich? We’re not in Brunswick anymore

Ling-Wen Tsai, “Rising/Sinking Study Chair,” wood and milk paint, 12 x 12 x 5 inches. Photo courtesy of Corey Daniels Gallery

Farther south in Wells, check out “Life Forms,” a women’s sculpture collective at the Corey Daniels Gallery. You’ll see works by about a dozen artists as you make your way through the exhibit.

Women’s sculpture collective debuts work in Wells

U.S. Navy Band Country Current performing in Tennessee. Photo by Petty Officer 1st Class April Enos

For some Sunday afternoon live tunes, head to Memorial Park in Freeport at 3 p.m. for a free performance by Country Current . The band is the only U.S. Navy country/bluegrass ensemble, and the show should be a foot-stomping good time.

See U.S. Navy band Country Current for free in Freeport

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