Business Idea

Start An Artworks Business

About

Starting an artworks business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell artworks, or selling artworks online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an artworks business ➜

Key stats

market size
$64.1B
revenue (monthly)
$500
starting costs
$25.4K
gross margin
50%
avg product price
$195
time to build
8 months
growth
Word of mouth
business model
E-Commerce
time investment
Side project

About

Starting an artworks business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell artworks, or selling artworks online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an artworks business ➜

Key stats

market size
$64.1B
revenue (monthly)
$500
starting costs
$25.4K
gross margin
50%
avg product price
$195

 

time to build
8 months
growth
Word of mouth
business model
E-Commerce
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $40 $2,350
Employee & Freelancer Expenses $0 $5,500
Equipment & Supply Expenses $525 $5,500
Website Costs $232 $6,500
Business Formation Fees $600 $4,700
Inventory Expenses $350 $14,750
Software Expenses $150 $2,470
Advertising & Marketing Costs $75 $5,286
Other Expenses $0 $800
Total Startup Costs $1,972 $47,856

Successful Businesses

Business URL Rank
Artnet artnet.com #13,032
Observer observer.com #15,720
Rhode Island School of Design risd.edu #112,407
Art Biz Success artbizsuccess.com #600,172
TurningArt turningart.com #663,134
Nick Mayer Art nickmayerart.com #698,705
ArtWorks Fine Art Studio artworksfineartstudio.com #3,324,361
Art-In-Iron art-in-iron.com #5,186,310
Virginia Beach Public Art vbpublicart.org #5,855,820

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Meaningful business connections You never know who you will meet as a artworks business. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
High margins The gross margins for your artworks business are typically around 50%, which is considerably high and allows you to grow your business and manage costs easily.
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
High employee turnover In the artworks business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes As a artworks business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
High overhead expenses With starting an artworks business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.
You may need to charge sales tax If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out [this article](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)
Churn In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.

Marketing Ideas

  • 1

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 2

    Advertising on social media

    Social media advertising is one of the leading ways to get the word out when it comes to artworks business.

    There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

    Learn more about advertising on social media ➜

  • 3

    Pay Per Click Advertising

    Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.