If you have an artistic edge, you shouldn’t be working a job that doesn’t fulfil you. Instead, join the more than 4.3 million self-employed people in the UK to monetise your craft and build a business that brings you joy. Not only will this be more fulfilling but it can also provide more motivation to enjoy your work life – something that everyone dreams of.
However, if you don’t have any experience in running your own business, it can be difficult to get started. Fortunately, just about anyone can do it! Our guide below is filled with advice on how you can start and run a successful artistic business by yourself. So, continue reading below to start earning great money using your craft.
Start-up costs
The first stage of any business is to build it, which requires capital. For some, you may have money saved up that you can spend on these costs or you may need to get a small business loan if you haven’t started making money yet.
Pricing strategies for artwork
Pricing your artwork correctly will be critical to the running of your business, so you’ll need to ensure your profit margins remain positive. Some of the things you need to consider when picking the prices for your artwork include:
- The time spent painting
- Cost of materials
- Market demand
- How quickly you want to sell the piece
- Whether you want to offer a discount to family and friends
- The quality of the piece
Build your brand online
In the digital age we live in, building a brand has never been easier. Social media is a great way to showcase your work and sell it to your followers.
What’s more, you can reach a huge audience on sites like Facebook and Instagram with more than 57 million active social media users in the UK alone. As your brand grows, you may be able to make sales to overseas customers too and become an international business that continues to grow in success.
Diversify your income streams
As a small business, regular income is vital for you to stay afloat, so you can’t depend solely on one income stream. While your artwork is the main selling point, you could look for other ways to make money too. Some ideas you can try include:
- Private art tutoring
- Art classes
- Art workshops
- Selling brand merchandise
- Collaborating with other businesses
