Art supply merchants play a vital role in stimulating the production of artwork in a community by having arts and crafts supplies available and providing in-store arts presentations. Although the art supply retail industry employs all of the basic elements of retail sales, because it caters to a specific market, you must have a great interest in and understanding of the underlying history, materials, trends, and terminology of the arts and crafts industry.
Amateur and professional artists, as well as art students, rely on art stores to buy drawing and painting tools. In this practical post, you’ll learn all you need to know about opening and running your own art business.
When you’re planning your art shop, it’s crucial to anticipate how much demand there will be and consider what clients would desire. You may aid yourself with this by conducting some market research.
For customer demand, you’ll want to make sure there’s adequate demand in your region for an art business. Moreover, you’ll need to determine not just how many competitors you’ll face, but also the size of your local market. You should ideally set up shop in a large town or city with a booming art institution, so you can target the student population.
You’ll like to make sure that enough people will select your store over other options. Your market research may reveal that there is a market gap that your store can fill. Despite the fact that your area offers numerous artists’ workshops, possibly no one in your area specializes in professional-grade paints and other artists’ materials.
You’ll probably provide a variety of services in addition to offering a large selection of artist supplies, sundries, and accessories. Even if you lack the necessary skills and expertise, you may choose to outsource these services to a professional so that you may provide a variety of services that will assist to attract customers to your store.
Customers will be more loyal if you offer to order certain things for them if you don’t have them in-store. You can elect to provide a delivery service to your trade clients, such as nearby schools, universities, or nurseries. Consider if you’ll provide a mail order or e-commerce service.
If you want to sell work by local artists, you should consider using it on a commission basis, where you keep a part of the sale price rather than purchasing the paintings and other works directly from the artists.
What to sell
The kind of artist supplies and other things you sell will be determined by the emphasis of your shop. You may determine that your primary client base will be a combination of professional artists, art students, and amateur artists; if this is the case, you will most likely carry a variety of artists’ supplies in a variety of quality and pricing ranges.
You may decide that just expert artists’ supplies will be part of your inventory and that you will also stock a selection of more general things such as stationery, posters, and prints. Your merchandise selection will be influenced by the quantity of space you have available as well as your projected consumer base.
It is critical to get the price correct. You must ensure that the gap between the cost and selling prices is sufficient to pay all of your operational expenditures, including your own drawings. However, keep in mind that artists may get materials from a variety of sources, including online, and you’ll have to price in accordance with your immediate competition unless you are targeting a specialized market that your competitors do not serve.
If you want to sell both in-store and online, consider whether you will have a different pricing structure or utilize the same rates in both locations. If you need to sell at cheaper prices online, possibly to compete with the pricing of other online merchants, consider what you will do if customers walk into your store and ask to buy anything at your web price.
Regular clients will value your expert service and the large choice of professional and amateur quality artists’ supplies that you are likely to stock. You don’t want them coming to your business to pick your brains and then leaving elsewhere to buy what they want because your prices are too exorbitant. On the other hand, you don’t want to set your rates too cheap since you could not generate enough money to stay in business.
It is critical that your store conveys the correct image to customers. Everything about the way your store appears and feels should be geared to entice current clients to return on a frequent basis.
It’s a great idea to make the shop’s outside as appealing and welcoming as possible. Make certain that the signs are professionally constructed, clean, and in good shape. Use colors, writing, and design that you believe convey the proper message. Keep in mind that factors like the quality of the painting might be the difference between a store that appears to be on the rise and one that appears to be old and run-down. Maintain a clean and well-lit environment by keeping your windows immaculate.
To sum up, it is better to keep track of everything we’ve said thus far as well as your artwork, places, contacts, shows, paperwork, costs, and sales. With the press of a mouse, you can generate professional reports such as invoices and portfolio pages. With a timetable and weekly email reminders, you’ll never miss a deadline again.