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Artist Business Plan Template

Written by Dave Lavinsky

artist business plan template

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.

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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.  

Artist Business Plan Template FAQs

What is the easiest way to complete my artist business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your artist business plan.

How Do You Start an Artist Business?

Starting an artist business is easy with these 14 steps:

  • Choose the Name for Your Artist Business
  • Create Your Artist Business Plan
  • Choose the Legal Structure for Your Artist Business
  • Secure Startup Funding for Your Artist Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Artist Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Artist Business
  • Buy or Lease the Right Artist Business Equipment
  • Develop Your Artist Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Artist Business
  • Open for Business

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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.

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How to Wrtie an Artist business plan + Free Template

Executive summary image

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.

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  • 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,

Business overview example for artist business

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. :

Market Analysis Example for Art Business

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.

inventory management strategy

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:

organization chart example of art business

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:

example of a projected balance sheet for art business

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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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.

Download our artist business plan pdf now and start writing a comprehensive plan in no time!

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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

business plan of an artist

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

Avatar for Isabella Meyer

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.

Marketing an Art Business

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.

How to Establish an Art Brand

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.

Analysing Competition

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.

Develop an Art Business Plan

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.

Legalities of an Art Business

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.

How to Advertise Your Art

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.

Logistics of an Art Business

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.

Setting up an Art Business

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.

Managing an Art Business

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.

Develop Art Business Relationships

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 meyer

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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The Most Famous Artists and Artworks

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Artist Business Plan Template

Written by Dave Lavinsky

Artist Business Plan

You’ve come to the right place to create your Artist business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Artist businesses.

Below is a template to help you create each section of your Artist business plan.

Executive Summary

Business overview.

Sean’s Scenic Creations is a startup artist company located in Baltimore, Maryland. The company is founded by Sean Hanford, who has experience in painting scenes throughout the globe. Now, with the expertise of knowledge and business acumen, Sean has determined he can confidently start and effectively grow a successful art studio company. Sean believes his experience of strategic growth, marketing skills, financial capabilities, and wide and deep knowledge of painting practices will provide everything needed for long-term growth and profitability.

Sean’s Scenic Creations will provide a select studio filled with scenic art for a wide variety of clients. Sean’s Scenic Creations will be the premier scenic artist studio, providing art works to each client while supporting the strategic goals of the company. Sean’s Scenic Creations will be the ultimate choice in scenic art for clients to ensure that every interest of the customer is fully and completely met.

Product Offering

The following are the products and services that Sean’s Scenic Creations will provide:

  • Scenic oil paintings from global perspectives
  • Scenic lithographs
  • Custom reproductions of famous works
  • Custom scenic oil paintings
  • “Secrets of Creating Scenic Art,” small group painting classes
  • Online sales and purchasing portal
  • “Studio Wine & Cheese Night” for small audience settings

Customer Focus

Sean’s Scenic Creations will target former clients and patrons of the artist’s works. They will target first-time art buyers. They will target businesses seeking artwork for interior decor. They will target those individuals interested in learning how paintings are created. They will target those individuals who want to learn from the artist how to paint scenes.

Management Team

Sean’s Scenic Creations will be owned and operated by Sean Hanford. He recruited his former associate in art school, Jan Myers, to be his Studio Manager, to assist in teaching and demonstrating art and scenic art painting methods.

Sean Hanford is a graduate of the School of Visual Design in New York, where he studied multiple forms of art and artistic expression. Sean chose to devote the majority of his works in the area of oil paintings of iconic scenes and those environments that captured his interest. For the past ten years, Sean has worked as an associate in the Rockdale Art Studio, where he was well-known for his attentive interest in clients and his beautifully-created art.

Jan Myers has been an associate of Sean Hanford for almost eight years, working as the studio assistant in the art gallery. She is known for her dedication to customer care and service. She will become the Studio Manager, overseeing all customer interactions alongside Sean Hanford.

Success Factors

Sean’s Scenic Creations will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team of Sean’s Scenic Creations
  • Comprehensive selection of art and art-related classes
  • Customized scenic paintings and paintings based on photography
  • Corporate interior artwork
  • Large scale art installations
  • Sean’s Scenic Creations offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Financial Highlights

Sean’s Scenic Creations is seeking $200,000 in debt financing to launch Sean’s Scenic Creations. The funding will be dedicated toward securing the studio space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

  • Studio space build-out: $20,000
  • Office equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for Sean’s Scenic Creations.

Sean’s Scenic Creations Pro Forma Projections

Company Overview

Who is sean’s scenic creations.

Sean’s Scenic Creations is a newly established, full-service artist studio company in Baltimore, Maryland. Sean’s Scenic Creations will be the premier artist studio for collectors and aficionados to find scenic oil paintings from around the world. Sean’s Scenic Creations will be the primary choice for individuals who want to learn how to create scenic paintings in Baltimore and the surrounding communities. Sean’s Scenic Creations will provide a comprehensive menu of artwork, art classes and community gatherings for any customer to utilize. Their full-service approach includes an online option for customers to view and buy oil paintings.

  Sean’s Scenic Creations will be able to offer a wide array of oil paintings and painting classes to interested individuals. The team of professionals are highly qualified and experienced in oil painting and artwork sales. Sean’s Scenic Creations will remove the headaches and issues of the art collector and art student who continually search for thoughtful assistance, and Sean Hanford and Jan Myers will ensure all clients are taken care of expeditiously while delivering the best customer service.

Sean’s Scenic Creations History

Sean’s Scenic Creations is owned and operated by Sean Hanford, a former graduate of the School of Visual Design in New York He has been in the retail art sales business sector for ten years and has amassed a significant amount of industry information and business acumen. His clients consider him to be their favorite artist and have already announced they will follow him when he opens his own studio in Baltimore.

Since incorporation, Sean’s Scenic Creations has achieved the following milestones:

  • Registered Sean’s Scenic Creations, LLC to transact business in the state of Maryland.
  • Has a contract in place for a 10,000 square foot studio at one of the midtown buildings
  • Reached out to numerous contacts to include Sean’s Scenic Creations in their portfolios.
  • Began recruiting a staff of one and two studio personnel to work at Sean’s Scenic Creations

Sean’s Scenic Creations Products & Services

The following will be the products and services Sean’s Scenic Creations will provide:

Industry Analysis

The artist studio industry is expected to grow over the next five years to over $15 billion. The growth will be driven by the increasing interest by consumers in the art world and in the creation of one’s own artwork. The growth will also be driven by consumer travels globally that will increase the interest in recreating those iconic scenes via their own or an artist’s recreation in a large format oil painting. The growth will increase by individuals who work remotely and have access to their studios during short breaks from their profession, as well as those who have continual access to dedicated rooms in their own residences set aside for art studios.

Costs will likely be reduced as the increase in consumers drives retail prices down. For example, art supplies such as canvases and canvas-stretching services will probably be driven down due to an influx of new requests for services and products by the consumers. New technology in the art world will also allow the more mundane day-to-day operations of an artist studio or gallery more easily done by software designed specifically for the sector.

Customer Analysis

Demographic profile of target market.

Sean’s Scenic Creations will target those individuals of all ages interested in scenic art in Baltimore, Maryland. Sean’s Scenic Creations will target former clients and patrons of the artist’s works. They will target first-time art buyers. They will target businesses seeking artwork for interior decor. They will target those individuals interested in learning how paintings are created. They will target those individuals who want to learn from the artist how to paint scenes.

TotalPercent
    Total population1,680,988100%
        Male838,67549.9%
        Female842,31350.1%
        20 to 24 years114,8726.8%
        25 to 34 years273,58816.3%
        35 to 44 years235,94614.0%
        45 to 54 years210,25612.5%
        55 to 59 years105,0576.2%
        60 to 64 years87,4845.2%
        65 to 74 years116,8787.0%
        75 to 84 years52,5243.1%

Customer Segmentation

Sean’s Scenic Creations will primarily target the following customer profiles:

  • Individuals interested in purchasing scenic oil paintings
  • Individuals interested in learning to paint or learning how paintings are created
  • First-time art buyers
  • Businesses seeking interior artwork for decor
  • Former clients and patrons

Competitive Analysis

Direct and indirect competitors.

Sean’s Scenic Creations will face competition from other companies with similar business profiles. A description of each competitor company is below.

Gallery Serenity

Gallery Serenity is a contemporary art gallery featuring the artworks of five artists within the Baltimore region. The art is composed of oils, watercolor, mixed media and ceramic pieces, all held within a minimalist gallery. The gallery is broken into five distinctive areas, with one small studio tucked into the gallery that represents each artist. The sleek interior matches the contemporary feel of the artwork throughout. Tara Simmons, a long-time art patron of New York City, opened the gallery to encourage patrons of her five favorite artists to purchase their own works of art from the artists. Regular “Shop Talk” sessions are offered, featuring one of the five artists on a weekly basis. The contemporary art is often moved on loan to enhance a corporate venue or exhibition that needs an artistic touch to the environment.

Esther Savage Art Gallery

The Esther Savage Art Gallery is home to the art works associated with the early colonial settlers in the Baltimore area. Works are in black pencil or oil, with rudimentary line drawings included in the gallery offerings. Esther Savage has been a dedicated collector of early colonial artwork and decided to open the art gallery to both showcase and sometimes sell her extensive collection of colonial artwork. Most of the art collection is for sale; other, more valuable works, are not. The early art of the colonies mimics the European styles of the decades, with oils playing a large part in portrait works, along with a colonial view of still life art and the occasional landscape of the Hudson River Valley and other iconic areas.

Jameson ClayCraft Salon

The Jameson ClayCraft Salon is a small salon housed in a brick-lined building located in mid-city Baltimore. Thomas Jameson has owned and operated the salon for over fifteen years, where clay art creations are both created and sold on site. Customers enjoy the intimate environment, along with the expertise of Thomas and his staff of three associates, who assist in both the slab and wheel ceramic forms and encourage loyal customers with their compliments. The Jameson ClayCraft Salon has been the hub of classes, wine and appetizer evenings for patrons, city art talks and other intimate gatherings that offer community to all who join in. Thomas Jameson is currently in the process of selling the Jameson ClayCraft Salon to a national retail chain of consumer “make-it-yourself” studios.

Competitive Advantage

Sean’s Scenic Creations will be able to offer the following advantages over their competition:

  • Friendly, knowledgeable, and highly-qualified team at Sean’s Scenic Creations
  • Sean’s Scenic Creations offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition

Marketing Plan

Brand & value proposition.

Sean’s Scenic Creations will offer the unique value proposition to its clientele:

  • Highly-qualified and skilled employees who offer a comprehensive selection of art and art-related classes
  • Customer appreciation evenings

Promotions Strategy

The promotions strategy for Sean’s Scenic Creations is as follows:

Word of Mouth/Referrals

Sean’s Scenic Creations has built up an extensive list of contacts over the years by providing exceptional service and art expertise to Sean’s clients. The contacts and clients will follow Sean to his new company and help spread the word of Sean’s Scenic Creations.

Professional Associations and Networking

Sean’s Scenic Creations will take an active role in regional and community art-related associations and non-profit groups with the goal of increasing the number of youth who learn to paint and exhibit artworks. They will also network at national trade shows to garner on-trend styles and types of artwork that may be as yet unknown to the staff.

Print Advertising

Before launch, direct mail invitations will be sent to every former client and contact of Sean Hanford and his associate, Jan Tyler, inviting them to the launch of Sean’s Scenic Creations. They will receive “preferred client” pricing within the first 60 days of business.

Website/SEO Marketing

Sean’s Scenic Creations will fully utilize their website. The website will be well organized, informative, and list all the services that Sean’s Scenic Creations provides. The website will also list their contact information and contain an online gallery of available artwork for sale. An online payment portal will allow customers to view and buy pieces from the convenience of their own home, if desired. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “art studio” or “oil painting class near me,” Sean’s Scenic Creations will be listed at the top of the search results.

The pricing of Sean’s Scenic Creations will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Sean’s Scenic Creations. Operation Functions:

  • Sean Hanford will be the owner and President of the company. He will oversee all staff and manage client relations. Sean has spent the past year recruiting the following staff:
  • Kerrie Thomas will manage the office administration, client files, and accounts payable.

Milestones:

Sean’s Scenic Creations will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease studio space
  • 5/15/202X – Finalize personnel and staff employment contracts for the Sean’s Scenic Creations
  • 6/1/202X – Finalize contracts for Sean’s Scenic Creations vendors
  • 6/15/202X – Begin networking at industry events
  • 6/22/202X – Begin moving into Sean’s Scenic Creations studio
  • 7/1/202X – Sean’s Scenic Creations opens its doors for business

Financial Plan

Key revenue & costs.

The revenue drivers for Sean’s Scenic Creations are the fees they will charge to customers for their artwork and services..

The cost drivers will be the overhead costs required in order to staff Sean’s Scenic Creations. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Sean’s Scenic Creations is seeking $200,000 in debt financing to launch its art studio. The funding will be dedicated toward securing the studio space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Artworks and Classes Sold Per Month: 290
  • Average Revenue per Month: $48,000
  • Office Lease per Year: $100,000

Financial Projections

Income statement.

FY 1FY 2FY 3FY 4FY 5
Revenues
Total Revenues$360,000$793,728$875,006$964,606$1,063,382
Expenses & Costs
Cost of goods sold$64,800$142,871$157,501$173,629$191,409
Lease$50,000$51,250$52,531$53,845$55,191
Marketing$10,000$8,000$8,000$8,000$8,000
Salaries$157,015$214,030$235,968$247,766$260,155
Initial expenditure$10,000$0$0$0$0
Total Expenses & Costs$291,815$416,151$454,000$483,240$514,754
EBITDA$68,185 $377,577 $421,005 $481,366 $548,628
Depreciation$27,160$27,160 $27,160 $27,160 $27,160
EBIT$41,025 $350,417 $393,845$454,206$521,468
Interest$23,462$20,529 $17,596 $14,664 $11,731
PRETAX INCOME$17,563 $329,888 $376,249 $439,543 $509,737
Net Operating Loss$0$0$0$0$0
Use of Net Operating Loss$0$0$0$0$0
Taxable Income$17,563$329,888$376,249$439,543$509,737
Income Tax Expense$6,147$115,461$131,687$153,840$178,408
NET INCOME$11,416 $214,427 $244,562 $285,703 $331,329

Balance Sheet

FY 1FY 2FY 3FY 4FY 5
ASSETS
Cash$154,257$348,760$573,195$838,550$1,149,286
Accounts receivable$0$0$0$0$0
Inventory$30,000$33,072$36,459$40,192$44,308
Total Current Assets$184,257$381,832$609,654$878,742$1,193,594
Fixed assets$180,950$180,950$180,950$180,950$180,950
Depreciation$27,160$54,320$81,480$108,640 $135,800
Net fixed assets$153,790 $126,630 $99,470 $72,310 $45,150
TOTAL ASSETS$338,047$508,462$709,124$951,052$1,238,744
LIABILITIES & EQUITY
Debt$315,831$270,713$225,594$180,475 $135,356
Accounts payable$10,800$11,906$13,125$14,469 $15,951
Total Liability$326,631 $282,618 $238,719 $194,944 $151,307
Share Capital$0$0$0$0$0
Retained earnings$11,416 $225,843 $470,405 $756,108$1,087,437
Total Equity$11,416$225,843$470,405$756,108$1,087,437
TOTAL LIABILITIES & EQUITY$338,047$508,462$709,124$951,052$1,238,744

Cash Flow Statement

FY 1FY 2FY 3FY 4FY 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)$11,416 $214,427 $244,562 $285,703$331,329
Change in working capital($19,200)($1,966)($2,167)($2,389)($2,634)
Depreciation$27,160 $27,160 $27,160 $27,160 $27,160
Net Cash Flow from Operations$19,376 $239,621 $269,554 $310,473 $355,855
CASH FLOW FROM INVESTMENTS
Investment($180,950)$0$0$0$0
Net Cash Flow from Investments($180,950)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow from Financing$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow$154,257$194,502 $224,436 $265,355$310,736
Cash at Beginning of Period$0$154,257$348,760$573,195$838,550
Cash at End of Period$154,257$348,760$573,195$838,550$1,149,286

Artist Business Plan FAQs

What is an artist business plan.

An artist business plan is a plan to start and/or grow your artist business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your Artist business plan using our Artist Business Plan Template here .

What are the Main Types of Artist Businesses?

There are a number of different kinds of artist businesses, some examples include: Antiques, Art Consultant, Tattoo Artist, Photography, Graphic design, and Art teacher.

How Do You Get Funding for Your Artist Business Plan?

Artist businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start an Artist Business?

Starting an artist business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster. 1. Develop An Artist Business Plan - The first step in starting a business is to create a detailed artist business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your artist business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your artist business is in compliance with local laws. 3. Register Your Artist Business - Once you have chosen a legal structure, the next step is to register your artist business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 4. Identify Financing Options - It’s likely that you’ll need some capital to start your artist business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 7. Acquire Necessary Artist Equipment & Supplies - In order to start your artist business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your artist business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

business plan of an artist

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

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

business plan of an artist

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.

business plan of an artist

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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Art Business Plan Template & Guidebook

How to write a art business plan in 7 steps:, 1. describe the purpose of your art business..

It also helps to include a vision statement so that readers can understand what type of company you want to build.

2. Products & Services Offered by Your Art Business.

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your art business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

Target market

Customer base , product or service description, competitive analysis, marketing channels, form an llc in your state, 4. write your operational plan., what equipment, supplies, or permits are needed to run a art business, 5. management & organization of your art business., 6. art business startup expenses & captial needed..

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your art business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Frequently Asked Questions About Art Business Plans:

Why do you need a business plan for a art business.

A business plan for an art business is important to have because it will help you track your progress, clarify your marketing and financial objectives, and make sure you remain on track to reaching your goals. A business plan can also be used to outline your business strategy, including the steps you'll need to take to make your business successful. Additionally, having a written plan will help you attract potential investors and other stakeholders who may be interested in helping with financing or providing other resources for your art business.

Who should you ask for help with your art business plan?

Can you write a art business plan yourself.

Yes, it is possible to write a art business plan yourself. However, it is recommended to seek assistance from a professional to generate the most effective and comprehensive business plan. A professional can help you identify who your target market is and how you will reach them, as well as helping to create a budget for your business and developing a marketing strategy. Additionally, they can assist with developing a detailed financial plan which could include investment, income and revenue goals.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

ARTIST BUSINESS PLAN: Template & Simple Steps to Write One

  • by Kenechukwu Muoghalu
  • August 12, 2023
  • No comments
  • 7 minute read

artist business plan

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. 

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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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How To Write a Winning Artist Management Business Plan + Template

Record Label 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

Revenues $ 336,090 $ 450,940 $ 605,000 $ 811,730 $ 1,089,100
$ 336,090 $ 450,940 $ 605,000 $ 811,730 $ 1,089,100
Direct Cost
Direct Costs $ 67,210 $ 90,190 $ 121,000 $ 162,340 $ 217,820
$ 67,210 $ 90,190 $ 121,000 $ 162,340 $ 217,820
$ 268,880 $ 360,750 $ 484,000 $ 649,390 $ 871,280
Salaries $ 96,000 $ 99,840 $ 105,371 $ 110,639 $ 116,171
Marketing Expenses $ 61,200 $ 64,400 $ 67,600 $ 71,000 $ 74,600
Rent/Utility Expenses $ 36,400 $ 37,500 $ 38,700 $ 39,800 $ 41,000
Other Expenses $ 9,200 $ 9,200 $ 9,200 $ 9,400 $ 9,500
$ 202,800 $ 210,940 $ 220,871 $ 230,839 $ 241,271
EBITDA $ 66,080 $ 149,810 $ 263,129 $ 418,551 $ 630,009
Depreciation $ 5,200 $ 5,200 $ 5,200 $ 5,200 $ 4,200
EBIT $ 60,880 $ 144,610 $ 257,929 $ 413,351 $ 625,809
Interest Expense $ 7,600 $ 7,600 $ 7,600 $ 7,600 $ 7,600
$ 53,280 $ 137,010 $ 250,329 $ 405,751 $ 618,209
Taxable Income $ 53,280 $ 137,010 $ 250,329 $ 405,751 $ 618,209
Income Tax Expense $ 18,700 $ 47,900 $ 87,600 $ 142,000 $ 216,400
$ 34,580 $ 89,110 $ 162,729 $ 263,751 $ 401,809
10% 20% 27% 32% 37%

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 $ 105,342 $ 188,252 $ 340,881 $ 597,431 $ 869,278
Other Current Assets $ 41,600 $ 55,800 $ 74,800 $ 90,200 $ 121,000
Total Current Assets $ 146,942 $ 244,052 $ 415,681 $ 687,631 $ 990,278
Fixed Assets $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000
Accum Depreciation $ 5,200 $ 10,400 $ 15,600 $ 20,800 $ 25,000
Net fixed assets $ 19,800 $ 14,600 $ 9,400 $ 4,200 $ 0
$ 166,742 $ 258,652 $ 425,081 $ 691,831 $ 990,278
Current Liabilities $ 23,300 $ 26,100 $ 29,800 $ 32,800 $ 38,300
Debt outstanding $ 108,862 $ 108,862 $ 108,862 $ 108,862 $ 0
$ 132,162 $ 134,962 $ 138,662 $ 141,662 $ 38,300
Share Capital $ 0 $ 0 $ 0 $ 0 $ 0
Retained earnings $ 34,580 $ 123,690 $ 286,419 $ 550,170 $ 951,978
$ 34,580 $ 123,690 $ 286,419 $ 550,170 $ 951,978
$ 166,742 $ 258,652 $ 425,081 $ 691,831 $ 990,278

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

Net Income (Loss) $ 34,580 $ 89,110 $ 162,729 $ 263,751 $ 401,809
Change in Working Capital $ (18,300) $ (11,400) $ (15,300) $ (12,400) $ (25,300)
Plus Depreciation $ 5,200 $ 5,200 $ 5,200 $ 5,200 $ 4,200
Net Cash Flow from Operations $ 21,480 $ 82,910 $ 152,629 $ 256,551 $ 380,709
Fixed Assets $ (25,000) $ 0 $ 0 $ 0 $ 0
Net Cash Flow from Investments $ (25,000) $ 0 $ 0 $ 0 $ 0
Cash from Equity $ 0 $ 0 $ 0 $ 0 $ 0
Cash from Debt financing $ 108,862 $ 0 $ 0 $ 0 $ (108,862)
Net Cash Flow from Financing $ 108,862 $ 0 $ 0 $ 0 $ (108,862)
Net Cash Flow $ 105,342 $ 82,910 $ 152,629 $ 256,551 $ 271,847
Cash at Beginning of Period $ 0 $ 105,342 $ 188,252 $ 340,881 $ 597,431
Cash at End of Period $ 105,342 $ 188,252 $ 340,881 $ 597,431 $ 869,278

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!

Learn How to Sell Art Online – Art Storefronts Blog

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.

business plan of an artist

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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Artists Business Plan Template

Published Nov.10, 2021

Updated Apr.19, 2024

By: Jakub Babkins

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artist business plan

Table of Content

Artist business plan for starting your own business

In today’s world, an artist is a creative entrepreneur who is a self-employed business owner and uses his skill to earn a decent living. A professional artist is someone who knows how to make an impact with his work and make a living out of it. In case you want to make a business out of your art, a well-thought artist business plan can make a huge difference towards your success.

Whether you want music festival business plan , internet radio business plan , business plan for music industry , business plan for movie theater , karaoke business plan , or night club business plan , this model of business plan will help you in writing a well thought business plan to start a successful business.

If you want to know how to write a business plan for an artist, or you are looking for business plan for artists, you can continue to read as we will write down all the important points required in a good business plan for investors .

Executive Summary

2.1 the business.

In all the business plan examples for artists, the first thing you need to mention is the introduction of your business.

PixelCo will be a registered, licensed and insured art design business based in the Miami, Florida. This business will strive to cultivate meaningful and relevant connections between people and brands through our art designing services and unparalleled visuals.

2.2 Management of Artist Business

The success of any business heavily depends on its management and staff. That is why in your business plans for artists, make sure to plan everything in advance.

The management body of the company will include art artists, sales executives, animation and cartoon specialists, customer representatives and website developers. The team will be managed by the owner who will look into every matter himself.

Like in every artist business plan sample, you need to provide detail about the management. The staff will be hired one month before the launch of the company and will be trained by the owner.

2.3 Customers of Artist Business

At PixelCo, our customers will include following

  • Insurance Companies and banks
  • Sport Organizations
  • Political parties
  • Television Stations
  • Real Estate Owners, Contractors and Developers
  • Advertising agencies
  • Entrepreneurs

Similar to a mobile app business plan , mentioning all the customers are required to make a strong business plan.

2.4 Business Target

Our primary goal is to become the best art design company in Miami within the next 6 years of our startup. We aim to provide the best and reasonable services to our customers. The main business targets that we want to achieve as milestones over the next four years are as follows:

  • To cover the investment by the end of the first year
  • To expand our company and open up two to three company offices by the end of 5th year
  • To raise at least $10 monthly revenue by the end of the first year

Artist Business Plan - 3 Years Profit Forecast

Company Summary

3.1 company owner.

PixelCo will be owned by Julie Mark, a renewed art designer. She has completed her Masters of Art in art design from the University of London. After completing her degree, she worked with some leading digital marketing companies as a art designer. After gaining all the knowledge about how to start a small art business, she decided to start her own business.

3.2 Why the Artist Business is being started?

Julie continued to work as a art designer in some of the biggest art designer companies in the US. But soon she realized that she can start her own business and can establish her name in the art designing industry.

That is why she decided to start PixelCo completely by herself. Similar to writing a business plan for makeup artist, it is important to write down why and how the business will be started when writing a business plan for artist.

3.3 How the Artist Business will be started?

In business plan artist, you need to mention all the necessary steps to start a business. To start a art designing business, you do not need much investment as needed in other startups.

Julie has planned everything for her business including the required inventory and personnel.

Office Space

To start an art designing business on a small scale, you need a small set-up, and for that, a small space will be enough.

Office furniture

Next, to set up the space, you will need office furniture including filing cabinets, couches, chairs and work desks. You will also need some decent furniture for meeting rooms and waiting rooms.

The next and important thing is to buy all the art designing and other related software to start the work. These include Freehand, Illustrator, Photoshop, Quark and Microsoft project.

Internet Connection

You will need a strong internet connection to carry out the work without any distortion.

Start-up Expenses

When we talk about the expenses to open a art designing company, these include consultant fees, insurance, rent for the space, laptops and computers for the employees and interior expenses.

Legal$258,000
Consultants$0
Insurance$21,000
Rent$22,000
Research and Development$23,000
Expensed Equipment$52,000
Signs$4,000
Start-up Assets$343,000
Cash Required$306,000
Start-up Inventory$37,000
Other Current Assets$227,000
Long-term Assets$291,000
 
Start-up Expenses to Fund$380,000
Start-up Assets to Fund$1,204,000
Assets 
Non-cash Assets from Start-up$1,584,000
Cash Requirements from Start-up$317,000
Additional Cash Raised$50,000
Cash Balance on Starting Date$35,000
Liabilities and Capital 
Liabilities$21,000
Current Borrowing$0
Long-term Liabilities$0
Accounts Payable (Outstanding Bills)$45,000
Other Current Liabilities (interest-free)$0
Capital 
Planned Investment$1,584,000
Investor 1$0
Investor 2$0
Other$0
Additional Investment Requirement$0
Loss at Start-up (Start-up Expenses)$336,000

Artist Business Plan - Startup Cost

In this business plan for artist management company , you need to mention the services your company will provide. This is an extremely important part of any business plan for artist.

PixelCo will provide art designing services and visual communication services to small as well as established companies. We aim to compete with all the leading art designing companies in the US. As can be seen in our business plan template for artists, we will provide the following services:

Digital Designs

We will provide digital designs including logos, websites, and all kinds of arts to our clients. We will also provide cartoons and animations as per our customer’s requirements.

Hard Decorations

We will also provide hard form decorations, art pieces, and custom-themed paintings.

Print Designs

In addition to digital designs, we will also provide print media designs including books, magazines and newspapers.

Advertisements

We will also provide advertising services and corporate branding that will include infoarts, brochures, product packaging, and posters.

Marketing Analysis of Artist Business

Great service.

Great service. Good turnaround time and quality work. Thanks!

Similar to business plan for music artist, marketing analysis is an important component in abusiness plan for artists pdf. That is why Julie got the services of marketing experts to help her through this important phase. In anny artist development plan, the importance of this part cannot be ignored.

To start a successful business for artists, you need to do an accurate marketing analysis, as the planning and execution of many other components depend on it. It also serves as the basis of your business strategy.

5.1 Market Trends

The trend in the art designing industry is that the market keeps expanding with time. Anything that cannot be done verbally needs to be put into some design to communicate or to send the message. If we look around, we are surrounded by arts.

From your coffee mug to the magazine cover, the ads on the TV all are applications of art designing. These are the reasons why the art designing industry is growing fast and is one of the biggest and fastest-growing companies in the world.

In 2017, around 335,000 art design companies were working all over the world. These include both small and large companies and people working as freelancers. The art design business is popular because all other businesses require their services to appear professional and to reach out to people.

5.2 Marketing Segmentation

Market segmentation is another important part of the sample regarding how to manage an artist pdf available online. All top performing artist marketing plan example templates include the detail about marketing segmentation for art design business.

The target market for PixelCo will be the corporate sector located in the US. According to research, the US houses more than 500,000 businesses which include both local, multinational and national businesses. These businesses have revenue in millions of dollars each year. It makes it easy for them to spend a lot of money on their art designing needs to promote their brands and to reach out to people.

To develop a good marketing strategy and to run a business seamlessly, it is important to analyze the market segmentation. An efficient and successful marketing strategy can only be developed after knowing the potential customers of any business. The market segmentation for PixelCo will be as follows:

Artist Business Plan - Marketing Segmentation

       
Potential CustomersGrowth
Corporate Sector40%25,00023,00024,00026,00029,00010.00%
Institutions & Organizations31%32,00035,00035,00037,00039,00010.00%
Print Companies29%24,00025,00029,00038,00041,00010.00%
10%

Corporate sector

One of the biggest consumers of PixelCo will be the corporate sector located in Florida. These include local, national and multinational businesses that need art designing services to expand their business. These companies include product manufacturers, real estate owners, distributors, developers, banks, hotels, IT firms, software houses and advertising agencies. These companies will need our services to update their brand logos, make advertisements and manage their websites and social media pages.

Institutes and Organizations

Our next target group consists of organizations and institutions located in Florida. These include public and government sectors such as schools, universities and colleges, sports organizations, political parties, non-profit and religious organizations.

Print Companies

Our third and important target group will be digital media and print companies. These will include publication companies, video production companies and television studios. Due to its nature, this target group is one of the biggest consumers of artist and designing services.

5.3 Business Target

Our primary goal is to balance the cost of investment in the first two years of our launch. Our secondary goal is to become the best art design company in Florida within few years.

5.4 Product Pricing

When writing a marketing plan artist, the pricing is extremely crucial. The service and product pricing should be determined with great care. We have considered the market demands, and have priced all our services in a comparable range with other companies. All of our prices are similar to other companies except for logo making prices which are 30 percent less than other companies to promote sales.

Marketing Strategy for Artist Business

PixelCo will make sure that we meet the clients’ expectations and deliver the service as per their requirements. Any good independent artist business plan like this business plan for artist example pdf should have a clearly defined marketing strategy.

Our goal is to achieve a 15% increase in website traffic every month and we will work to turn 70% of the visitors into our consumers. We will also work on increasing the engagement rates. Engagement rates show the frequency at which visitors interact with the post. We aim to increase our social media following so we can reach out to maximum people.

6.1 Competitive Analysis

To survive in artist and design industry, you have to be very creative and should have innovative ideas regarding designs. Only then you can survive and grow.

PixelCo has a team of dedicated and hard-working professionals. All of the staff is highly trained and has excellent qualifications. Our biggest competitive advantage is the leadership of our owner Julie, who has worked in world-renowned companies.

6.2 Sales Strategy

Julie has carried out a detailed analysis and along with her team, and came up with excellent ideas to advertise her company.

  • We will reach out to people by advertising our company by using social media platforms, newspapers, magazines and TV stations.
  • In the first three months of our launch, we will offer a 20% discount on our all services
  • We will offer a 30% discount on all of our services on customer’s referral.
  • We will send introductory letters and brochures to other organizations.

6.3 Sales Monthly

Artist Business Plan - Sales Monthly

6.4 Sales Yearly

Artist Business Plan - Sales Yearly

6.5 Sales Forecast

Unit Sales
Digital Designs2,0002,1202,247
Hard Decorations1,2001,2721,348
Print Designs3,2003,3923,596
Advertisements4,0004,2404,494
Unit PricesYear 1Year 2Year 3
Digital Designs$50.00$58.00$67.28
Hard Decorations$100.00$116.00$134.56
Print Designs$75.00$87.00$100.92
Advertisements$50.00$58.00$67.28
Sales   
Direct Unit CostsYear 1Year 2Year 3
Digital Designs$20.00$27.00$30.00
Hard Decorations$70.00$72.00$83.00
Print Designs$35.00$36.00$38.00
Advertisements$20.00$22.00$24.00
Direct Cost of Sales   

Artist Business Plan - Unit Sales

Personnel plan

In an artist business plan or artist development plan, personnel plan is important as it provides an idea of personnel cost. If the staff is not loyal to the company, the company cannot make progress. It is difficult to estimate the type and number of staff needed to start a business until a business is launched. So to get through this step, it is important to take the advice of HR experts.

7.1  Company Staff

The following people will be needed to run PixelCo. Also, note that Julie Mark will be the owner and CEO of PixelCo business. The list of staff is as follows

  • 1 operation manager
  • 1 social media marketing manager
  • 3 sales executive
  • 2 animation and cartoon specialists
  • 5 website developers
  • 3 customer representatives
  • 1 reception clerk
  • 1 accountant

7.2  Average Salary of Employees

 
Operations Manager$14,000$15,400$16,940
Marketing Manager$15,000$16,500$18,150
Sales Executives$22,000$24,200$26,620
Animation and Cartoon Specialists$30,000$33,000$36,300
Website Developers$15,000$16,500$18,150
Customer Representatives$16,000$17,600$19,360
Reception clerk$7,000$7,700$8,470
Accountant$10,000$11,000$12,100

Financial Plan

When writing a business plan for artist, a financial plan is the next important thing after personnel plan. Any good business plan for artists clearly lists all costs, such as the cost of startup, payroll, inventory, utilities and equipment.

The major expense/ costs include:

  • The interior design of the office
  • Office space rent
  • Cost of inventory – furniture, chairs, tables and laptops
  • Salary of employees
  • Bonds, securities, registration costs, and insurance
  • Cost of buying software

8.1 Important Assumptions

   
 
Plan Month123
Current Interest Rate8.12%8.15%8.24%
Long-term Interest Rate8.37%8.46%8.49%
Tax Rate24.01%25.10%26.30%
Other000

8.2 Break-even Analysis

Artist Business Plan - Break-even Analysis

 
Monthly Units Break-even5340
Monthly Revenue Break-even$131,500
Assumptions: 
Average Per-Unit Revenue$232.00
Average Per-Unit Variable Cost$0.65
Estimated Monthly Fixed Cost$163,400

8.3 Projected Profit and Loss

   
 
Other$0$0$0
TOTAL COST OF SALES
Expenses   
Payroll$134,000$147,400$162,140
Sales and Marketing and Other Expenses$137,000$148,000$156,000
Depreciation$2,100$2,200$2,340
Leased Equipment$0$0$0
Utilities$3,000$3,000$3,100
Insurance$2,100$2,100$2,100
Rent$3,100$3,200$3,400
Payroll Taxes$31,000$32,000$33,000
Other$0$0$0
Profit Before Interest and Taxes($30,300)$304,036$466,256
EBITDA($30,300)$304,036$466,256
Interest Expense$0$0$0
Taxes Incurred($6,060)$60,807$93,251
Net Profit($24,240)$243,229$373,005
Net Profit/Sales-0.29%2.37%2.95%

8.3.1 Profit Monthly

Artist Business Plan - Profit Monthly

8.3.2 Profit Yearly

Artist Business Plan - Profit Yearly

8.3.3 Gross Margin Monthly

Artist Business Plan - Gross Margin Monthly

8.3.4 Gross Margin Yearly

Artist Business Plan - Gross Margin Yearly

8.4 Projected Cash Flow

Artist Business Plan - Project Cash Flow

   
Cash Received
Cash from Operations   
Cash Sales$52,000$56,160$60,653
Cash from Receivables$14,000$15,120$16,330
SUBTOTAL CASH FROM OPERATIONS
Additional Cash Received   
Sales Tax, VAT, HST/GST Received$0$0$0
New Current Borrowing$0$0$0
New Other Liabilities (interest-free)$0$0$0
New Long-term Liabilities$0$0$0
Sales of Other Current Assets$0$0$0
Sales of Long-term Assets$0$0$0
New Investment Received$0$0$0
SUBTOTAL CASH RECEIVED
ExpendituresYear 1Year 2Year 3
Expenditures from Operations   
Cash Spending$37,000$39,000$41,000
Bill Payments$26,000$27,000$28,000
SUBTOTAL SPENT ON OPERATIONS
Additional Cash Spent   
Sales Tax, VAT, HST/GST Paid Out$0$0$0
Principal Repayment of Current Borrowing$0$0$0
Other Liabilities Principal Repayment$0$0$0
Long-term Liabilities Principal Repayment$0$0$0
Purchase Other Current Assets$0$0$0
Purchase Long-term Assets$0$0$0
Dividends$0$0$0
SUBTOTAL CASH SPENT
Net Cash Flow$19,000$21,000$22,000
Cash Balance$29,000$31,000$33,000

8.5 Projected Balance Sheet

   
Assets
Current Assets   
Cash$275,000$308,000$338,800
Accounts Receivable$25,000$28,000$31,472
Inventory$4,000$4,480$4,900
Other Current Assets$1,000$1,000$1,000
TOTAL CURRENT ASSETS
Long-term Assets   
Long-term Assets$10,000$10,000$10,000
Accumulated Depreciation$20,100$22,512$25,326
TOTAL LONG-TERM ASSETS
TOTAL ASSETS
Liabilities and CapitalYear 4Year 5Year 6
Current Liabilities   
Accounts Payable$19,000$21,280$23,919
Current Borrowing$0$0$0
Other Current Liabilities$0$0$0
SUBTOTAL CURRENT LIABILITIES
Long-term Liabilities$0$0$0
TOTAL LIABILITIES
Paid-in Capital$30,000$30,000$31,000
Retained Earnings$53,800$58,642$64,506
Earnings$198,000$215,820$237,402
TOTAL CAPITAL
TOTAL LIABILITIES AND CAPITAL
Net Worth$300,100$327,109$359,820

8.6 Business Ratios

    
 
Sales Growth7.23%8.01%8.88%3.00%
Percent of Total Assets    
Accounts Receivable9.20%10.19%11.29%9.80%
Inventory5.39%5.97%6.62%9.90%
Other Current Assets2.12%2.35%2.60%2.40%
Total Current Assets149.00%152.00%152.00%158.00%
Long-term Assets11.54%11.60%11.64%12.00%
TOTAL ASSETS
Current Liabilities4.87%4.91%4.95%4.34%
Long-term Liabilities0.00%0.00%0.00%0.00%
Total Liabilities7.56%7.62%7.69%7.38%
NET WORTH
Percent of Sales    
Sales100.00%100.00%100.00%100.00%
Gross Margin94.90%97.46%100.19%99.00%
Selling, General & Administrative Expenses94.00%96.54%99.24%97.80%
Advertising Expenses1.52%1.56%1.60%1.40%
Profit Before Interest and Taxes41.00%42.11%43.29%33.90%
Main Ratios    
Current34353632
Quick3232.633.41533
Total Debt to Total Assets0.18%0.18%0.17%0.40%
Pre-tax Return on Net Worth74.00%74.50%75.00%75.00%
Pre-tax Return on Assets94.60%99.33%104.30%111.30%
Additional RatiosYear 1Year 2Year 3 
Net Profit Margin33.01%34.03%35.09%N.A.
Return on Equity56.00%57.74%59.53%N.A.
Activity Ratios    
Accounts Receivable Turnover7.77.87.8N.A.
Collection Days100100100N.A.
Inventory Turnover32.434.0233N.A.
Accounts Payable Turnover151616.3N.A.
Payment Days272727N.A.
Total Asset Turnover2.42.52.6N.A.
Debt Ratios    
Debt to Net Worth-0.04-0.03-0.04N.A.
Current Liab. to Liab.111N.A.
Liquidity Ratios    
Net Working Capital$239,000$252,384$266,518N.A.
Interest Coverage000N.A.
Additional Ratios    
Assets to Sales0.860.870.87N.A.
Current Debt/Total Assets1%0%0%N.A.
Acid Test29.129.1229.16N.A.
Sales/Net Worth2.12.22.3N.A.
Dividend Payout000N.A.
  • How can I start my own business as an artist?

To start a business as an artist, you need to use your skill. Make a business plan for artist and work on it to start your own business. You can easily start it once you have made a good business plan for makeup artist. After that, just follow the steps to start a successful business.

  • How do I write a business plan for an artist?

You can use this business plan template for artist to write your own plan.

  • Is an artist a business?

Not all entrepreneurs are artists but it is the fact that all artists are entrepreneurs. Being an artist you can polish your skill and then use it to make a living out of it. The business for artists is their skill through which they can earn money.

  • How much does an art business make?

The amount of money that an art business can make depends upon the type of art you are selling. For example, if you are a graphic artist, you can make a lot of money as compared to an artist who is just a painter.

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The Artist’s Guide to Making A Business Plan

Creating a business plan can be a lot of work, but it is an essential step for any artist who wants to start or grow an art business. Your  business plan is one of the most important tools you can have in your arsenal. This document outlines your goals as an artist’s business, the steps you need to take to achieve those goals, and the resources you need in order to be successful. It also serves as a roadmap or GPS, helping you think through all the necessary details of starting and running a successful art business.

A well-written business plan can help you to achieve your goals and build a successful art business. It forces you to think through all aspects of your business in great detail. It will help you avoid costly mistakes, identify potential problems, and make sound decisions about your business. Having a business plan can also be a valuable tool for raising money, attracting investors, and building a strong team.

"If you don't drive your business, you will be driven out of  business." -Brian Tracy

Let’s plan out your business plan:

  • Define your goals and objectives
  • Develop a marketing strategy
  • Track your progress and make adjustments as needed
  • Secure funding
  • Attract investors
  • Build a team
  • Be realistic about your goals: It is important to set goals that are achievable and measurable.
  • Do your research: Before you start writing your business plan, it is important to do your research on your target market, competition, and industry.
  • Be specific: When describing your products or services, your target market, and your marketing strategy, be as specific as possible.
  • Be concise: Your business plan should be concise and easy to read. Avoid using jargon or technical language.
  • Get feedback. Once you have written your business plan, get feedback from others, such as friends, family, or business professionals.
  • Update your plan regularly: Your business plan is a living document that should be updated regularly to reflect changes in your business.

A business plan should include the following sections:

  • Executive Summary : This section should provide a brief overview of your business, including your mission statement, target market, and financial projections.
  • Products and Services : This section should describe the products or services that you offer.
  • Market Analysis : This section should analyze your target market and identify your competition.
  • Marketing Plan : This section should outline your strategy for reaching your target market.
  • Management Team : This section should describe your management team and their experience.
  • Financial Plan : This section should provide financial projections for your business.
"Action is the most important key to any success" -Tony Robbin

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Everyone dreams of turning their hobby into a business. Find a sample business plan for scrapbooking, art supply, gallery, fabric, stained glass supply, or other arts and craft supplies related business, and start writing a business plan to make your dream a reality.

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Business Strategy

Start thinking like the top strategists with this course from Harvard Business School (HBS) Online.

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Assess business opportunities through the lens of value creation

Apply the value stick, a research-based framework for strategy formulation, to key strategic decisions that companies face today

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Create value for customers, employees, and suppliers, often in surprising ways, that rival companies will find hard to match

Build sustainable success with the help of complements and network effects

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Business Strategy is an online course that enables anyone to think and act strategically. You’ll learn an effective, easy-to-grasp framework that some of the world’s best companies use to create value and achieve outstanding financial performance.

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Pride designers slam target's plan for their wares; retailer says it's normal business practice.

A number of artists Target tapped to design part of its 2024 Pride collection have taken to social media to lament the retailer's product development process, including last-minute cuts, drastically altered designs, wasted products and little recognition.

This is the latest controversy for the Minneapolis-based company that has struggled to find even footing on LGBTQ issues after conservative backlash about some Pride items last year contributed to the retailer's dipping sales. In response, Target decided this month to sell a smaller selection of Pride merch in fewer stores, though all items are available online. It is a regression to pre-2021, when Target first began offering the collection in honor of June's Pride Month in all stores .

Target maintains the Pride designers went through the same rigorous process all of its collections weather, including working with a third-party vendor instead of Target itself. Merchandising expert Liza Amlani said retailers usually make drastic cuts to collections, but she said there was a reason Target was more critical of its Pride items this summer.

"Think of what happened last year," she said, referencing how some Target employees endured in-store altercations because of 2023′s controversy. "Target is playing it safe. … They are playing it safe because they want to keep their people safe."

But for the 2024 designers who started working with Target six months before the 2023 collection went on sale, seeing the slow unraveling of their work has been hard to stomach. Several took to social media to criticize the design process .

"I didn't receive any direct communication from Target when this was happening," artist En Tze Loh of GRRRL Spells said of last year's backlash affecting the design process for this year. "We were kind of just sitting and waiting in horror, worried about what might happen."

Last fall, Loh, who is Canadian, heard Target would reduce their contributions from 15 to seven or eight. In January, it was down to four. That eventually fell to just one online-only item shortly before the collection went up for sale, dashing Loh's hopes of traveling to the U.S. for the first time to see their work in a physical store.

"At Target, we work with thousands of vendors, designers and creators on an annual basis. The process of finalizing our assortment regularly includes design edits and product changes with the goal of creating a relevant assortment that will drive sales," Target said in a statement. "We value our partners' collaboration and creativity in achieving that shared goal."

Routine rigor?

Products noticeably missing from the Target's Pride collection this year include items for children, like onesies. Gone also are shirts and accessories emblazoned with provocative, often pun-filled, pro-LGBTQ messaging. In 2022′s collection, a year after all stores began selling the Pride merchandise, there were more than 250 pieces . This year, Target's website lists a little more than 60 items marked for June's Pride Month.

Some of what the designers have described is typical during the assortment planning process of major retailers, said Amlani, founder of retail consulting company the Retail Strategy Group.

"For the most part, [companies] almost always over-develop or over-assort a product mix," Amlani said, adding retailers can go from 100 items down to 50 easily.

For a retailer like Target, it could take a year or longer to go from product concept to what's on shelves. Many cuts to collections and final decisions happen late in the process, close to when the items go on sale so the items feel on-trend, she said.

Based on her interactions with Target in the past, Amlani said, she believes any changes the retailer has made to this year's collection is more about trying to keep employees safe from altercations in stores than it is about supporting or not supporting the LGBTQ community.

Not every Pride designer has been critical of Target. Rob Smith, chief executive and founder of the gender-inclusive apparel brand the Phluid Project, said he had "nothing but positive experiences" with Target in the five years since the store began to sell Phluid's clothing.

Target features several T-shirts from the Phluid Project with rainbow motifs as part of its Pride collection. Phluid also has a range of items sold year-round at Target.

Failure to communicate

Target approached artist Elizabeth Hudy to design Pride items in January 2023, including the opportunity to spotlight her by featuring her photo, bio and website, the Peach Fuzz, she said. Six months later, when Hudy saw Target's response to the upset about 2023′s collection, she worried how it would affect her designs. Through the past year, her contributions scaled down from about 20 items to just two, she said.

It wasn't until last week when she went to a San Francisco Target to search for her work that she realized the collection no longer featured her artist spotlight. And the pink mug she'd designed to originally say "support your sisters, not just your cis-ters" only included the first half of the phrase in the final product, Hudy said.

View this post on Instagram A post shared by The Peach Fuzz (@thepeachfuzz.co)

"I finally found it, like, shoved at the back of the women's clothing and got my stuff, left the store, and I went to my car, and I just bawled," she said.

Target's work with outside designers can vary in scope, from celebrity collaborations with the likes of Diane von Furstenberg, Joanna Gaines and Kendra Scott, to partnerships with smaller or lesser-known artists like those working on the Pride collection. And while former Pride collections, including last year's, did feature short designer bios on some tags and marketing, most designer partnerships of that lower level don't receive much public recognition.

Some of the miscommunication around expectations vs. reality of the collection could come down to the middle-manufacturer that actually made the products.

"In many cases, including this one, a third-party manufacturing vendor is involved in the design process and determines what happens with any product that isn't included in the final assortment," Target's statement read.

Hudy said eight of her designs amounted to an estimated 54,000 units of clothing manufactured in full. About 2,000 items will end up in her hands to donate to LGBTQ charities or sell on her own website, Hudy said.

"We had to wait for them to be de-tagged because they already had the price tags on them for Target," Hudy said.

Loh hopes to receive about 1,500 units of their items back from the manufacturer, TSC Miami, and referenced an email from the company that said some of the canceled non-apparel items were required "to be destroyed." Loh said they're wary of participating in another corporate pride collaboration because of this experience.

"I think for me to assess another collaboration, they would have to really prove themselves," Loh said, "that they would stand their ground and not give in to backlash."

Zoë Jackson is a general assignment reporter for the Star Tribune. She previously covered race and equity, St. Paul neighborhoods and young voters on the politics team.

Nicole Norfleet covers the fast-paced retail scene including industry giants Target and Best Buy. She previously covered commercial real estate and professional services.

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Inside Trump’s Search for a Vice President

Donald j. trump’s list of potential running mates has focused on a set of loyal campaigners..

This transcript was created using speech recognition software. While it has been reviewed by human transcribers, it may contain errors. Please review the episode audio before quoting from this transcript and email [email protected] with any questions.

From “The New York Times,” I’m Michael Barbaro. This is “The Daily.”

[THEME MUSIC]

The makeup of the 2024 presidential race has felt inevitable from the start, with one notable exception — Donald Trump’s choice of a running mate. Today, my colleague, Mike Bender, examines the top contenders for the job and what choosing them would tell us about Trump himself in this campaign. It’s Thursday, June 13.

Mike, somehow this is your first appearance on the show. So welcome, at long last, to “The Daily.”

Thank you for having me.

It’s my pleasure. You have spent the past few weeks trying to get inside Donald Trump’s search for a vice president. And what is so unusual about this search is that we already know what Trump wanted in a vice president from his 2016 campaign when he picked Mike Pence.

And we know how badly that all ended, with Trump openly denouncing Pence for not helping him overturn his 2020 election loss and reportedly endorsing calls for Pence’s death, his hanging, at the Capitol on January 6th. So with all of that behind us, what is Trump looking for this time around?

Yeah, I mean, the search is very different from where he was at this time eight years ago. Eight years ago, he was a first-time candidate. And he needed credibility with the evangelical community. I mean, remember, Donald Trump is a thrice-married playboy from New York, whose sex life was splashed across the New York tabloids.

Adding Mike Pence to the ticket gave him a lot of credibility with evangelicals and with establishment Republicans. Pence was a governor of Indiana and had been a former congressman. He provided a sort of port of entry for these folks into Trump world and settled a lot of them down. It’s a very different calculus this time around. Trump believes voters are going to make their decision based on the top of the ticket, not the running mate.

Based on Trump himself.

Based on Trump himself, and the fact that we have two incumbents effectively running. Everyone who’s going to vote in this election has opinions formed about Biden and Trump. There’s really no one that he can add to the ticket that is going to make a giant difference or going to persuade people in a major way to come on board. And he’s probably right about that.

So in a way, you’re saying Trump’s search for a number two is defined by what it’s not focused on, which is, he’s not trying to solve a political problem through his vice-presidential pick.

Yeah, that’s right. He’s not giving a lot of value to a political upside of a candidate. There was a lot of chatter early on, you remember, about maybe adding a woman to the ticket. Trump has hemorrhaged support from suburban women for eight years.

And there was a thought that if he could find a strong woman in a governor’s office or in Congress to add to the ticket, that she could help persuade some of these folks back to Trump’s side. But my reporting here is that there were some women in consideration at the very beginning stages of this process. But he hasn’t seriously considered a woman for this job in quite a while now.

Fascinating, OK. So we’ve been focused a lot, Mike, on what Trump is not focused on in his VP search. Let’s turn to what he is putting a lot of weight on as he searches for a number two.

Well, right now, my reporting is that the biggest factor, the biggest through line through some of his top-tier candidates are folks I’m calling “do no harm” candidates.

Hm, what do you mean by that?

The best example of this is Kristi Noem and what not to do. Kristi Noem is the governor of South Dakota. She has long been a rising star in the party. She’s joined Trump on the campaign trail several times, very much wanted this job. But —

Governor Kristi Noem has had, let’s call it, a tough time lately with that story that just won’t go away.

It all came crashing down a couple of months ago when she put a book out —

It includes a bizarre story about her shooting and killing her dog.

— detailing how she dragged her 14-month-old dog Cricket out to her gravel pit and shot it dead.

After killing her dog, she says she also killed their goat.

What the hell was South Dakota Governor Kristi Noem thinking?

This set off a firestorm in the media —

What a charming anecdote to include in a book. Who was her editor?

— where even Fox News hosts couldn’t get enough of this —

And your new book is called “No Going Back.”

You include a story about shooting your dog.

— and kept asking her —

Did the dog story come up in a conversation with Trump?

I talk to President Trump all the time.

About the dog?

About a lot of things. And right now —

— to explain Cricket, to explain the dog.

Did you bring up the dog with Trump?

Enough, Stewart. This interview is ridiculous, what you are doing right now.

I don’t think so.

So you need to stop. It is.

To her great frustration.

And to the great frustration of Trump. He was telling people that he did not want to be out answering questions about a vice-presidential candidate who shot their dog. It even became kind of gallows humor for him at some point. Randomly in conversations, he would ask people, well, have you shot your dog? He would end conversations telling people, make sure you don’t shoot your dog.

So this is an example of something Trump does not want to deal with on the campaign trail. That probably goes for just about any presidential candidate. But what is particularly important for Trump right now is that his plate is full of distractions.

He was just convicted of 34 felonies in New York and has a litany of other legal problems he’s facing. So the most important thing for him right now is a vice-presidential candidate who is a disciplined campaigner and can go out there and not cause any more unwanted distractions for his campaign.

All right, so besides, do me no harm, where else is Trump putting his focus in a VP search?

Yeah, the eventual VP is going to have to meet Trump’s prime-time reality TV show version of being out of central casting. And what I mean by that in this context is he wants someone who can go on television and defend him ably and effectively. The other thing that’s very interesting to me is that the former president gives outsized importance to debate performance.

He believes that he won the election in 2016 in large part because of his own performance in the debates against Hillary Clinton. And for that reason, since then, really, he’s felt like debates can be determinative and wants someone who he feels comfortable can go on television and hold his own against Kamala Harris, a seasoned politician and former prosecutor.

So whoever Trump picks is going to have to be able to hold his own in this sort of arena. But it’s always a fine line with Trump. They’re going to have to perform well, be effective, but not effective enough where they start to approach Trump’s spotlight.

Hm, say more about that.

Yeah, I mean, this is a president who puts a very high value on loyalty. But it’s a very unique twist on loyalty. He has a very specific definition. The, sort of, first rule of proving loyalty to Trump is not to overshadow him. He doesn’t want someone out there who he feels like is trying to leverage his political brand. Trump does not really want a successor here.

A lot of presidential nominees will pick someone who can help build the party, particularly in a second term. The attention naturally turns to the vice president and who’s coming next. Trump has shown little interest in that. So while he wants someone who will be a great presence on TV and on the campaign trail, that running mate better be good, but not too good.

So in summary, Trump’s VP search goes something like this. ‘I don’t really care if you win me a key voting bloc. Don’t cause me problems. And while I want you to be able to wow an audience, you can’t wow them more than me.’

That’s absolutely right. And based on those principles, his team has actually put out a pretty extensive list of Republicans who they are vetting for the job right now.

[VIOLIN MUSIC]

But my reporting is that this list is a little wider than the folks who Trump is really considering. His team is trying to build drama and suspense and also give him some room to change his mind before he officially makes his pick at the Republican National Convention in July.

But at this moment, based on my reporting, there are three people who Trump is seriously considering for his next vice president.

We’ll be right back.

So, Mike, tell us about these top three contenders at this moment for Trump’s vice-presidential slot and how Trump is thinking about each of them.

Yeah, one we can start with is the senator from Ohio, JD Vance.

Despite all outward appearances, I’m a cultural outsider. I didn’t come from the elites.

Most listeners will probably remember JD Vance as the guy who burst onto the national scene with a book about his time growing up in Ohio —

I came from a Southern Ohio steel town. And it’s a town that’s really struggling in a lot of ways, in ways that are indicative of the broader struggles of America’s working class.

— that sort of explained the forgotten man and woman in America right at the time that Trump was leveraging that idea to become president of the United States.

Here with me is JD Vance, author of “Hillbilly Elegy.”

JD has been unlocking the mysteries to Donald Trump’s appeal.

JD Vance went on a national book tour. He was on television, on podcasts, talking about his book —

Donald Trump, if nothing else, is relatable to the average working-class American because he speaks off the cuff. Even if, you know, half of the things that he says don’t make any sense or a quarter of the things that he says are offensive, there’s something —

— but also talking pretty negatively about Donald Trump.

I can’t stomach Trump. I think that he’s noxious and is leading the white working class to a very dark place. And ultimately —

I mean, he was really scathing in how he depicted Donald Trump as a — effectively a con artist who was taking advantage of the people that he was writing about to fuel his political rise —

Look, I wasn’t a big Trump guy in 2016, but I think he did a good job. I think —

— until he changed his mind on Trump.

That’s why I supported him in 2020. And I think the recognition that I changed my mind is one of the reasons why the president came and endorsed me. I think it was helpful —

And that comes a few years later when Vance decides to run for Senate in 2022.

I actually aligned with the America First movement on the core issues.

By then, he had come, you know, 180 degrees on Trump.

Trump was right that we need to make things in this country again so that we’re self-sufficient —

And this works for Vance. He wins Trump’s endorsement, beats a pretty crowded field for the Republican nomination in Ohio, and wins election in 2022, which, if you remember, it was a pretty tough year for Trump endorsements.

A lot of Trump picks in big states lost. And JD Vance was sort of the crown jewel of that election for the former president.

So a rather convenient transformation from Trump critic to Trump fan results in JD Vance winning a seat in the US Senate.

That’s absolutely right. And he has become one of Trump’s fiercest defenders in the Senate.

Support the president. Volunteer for him. Donate for him. And please, for the love of god, vote for him in November because, Jesse —

And he’s a constant presence on the media circuit.

Number one, I’m here for the simple reason to show support for a friend. I think this trial is absolutely ridiculous. I think it’s a sham prosecution.

Most recently, he was in Manhattan, sitting with Trump in the courtroom.

I think this is disgraceful. I don’t care what you call it.

That Trump is disgraceful, is that what you’re saying?

I think this proceeding, this legal proceeding, is disgraceful.

And then fighting for Trump, defending him, and criticizing the prosecution in front of the TV cameras afterward.

I don’t care what you call this, but this is not the America that I know and love. Why aren’t we talking about inflation, Wolf? Why aren’t we talking about Biden’s wide-open Southern border?

We’re talking about history.

This entire trial was cooked up to distract from Joe Biden’s failures.

With all due respect —

This is exactly what Trump wants in a vice president. Vance is maybe the best in this top tier at defending Trump publicly. He knows when to become a fire-breathing ideologue. He knows when to turn the temperature down and become self-effacing and sort of brush off tough questions.

Got it. So he’s definitely got the “very good on TV” box checked. And as you said earlier in our conversation, that’s just essential.

Yeah, absolutely. But I do think, when it comes to Senator Vance, some of these strengths could be risks for him when it comes to making Trump’s ticket. He is very ambitious. And he is very young. If a vice president Vance is sworn in next year, there will be immediate speculation about his potential running in 2028 as a president.

Ah, so you’re saying he runs the risk of overshadowing Trump, which is a cardinal sin in Trump’s book.

Yeah, that’s right. And right now, in my reporting, that’s a strike against Vance when it comes to VP contention.

OK, so, Mike, who’s next on the list of Trump’s top-three contenders at the moment?

Next on this list is someone you remember well, Michael, Senator Marco Rubio from Florida.

Yeah, you were pretty key in covering his 2016 campaign.

Right. And like Vance, Mike, he has been on a very long journey of mocking and then trying to reconcile with Trump.

That’s exactly right. I mean, Rubio was the rising star of the Republican Party pre-Trump, the son of Cuban immigrants with a very powerful story of his own bootstraps rise, and was seen as a potential frontrunner for the Republican nomination until Trump showed up on the scene.

He doesn’t sweat because his pores are clogged from the spray tan that he uses.

And Rubio’s response to Trump was pretty wild.

Donald is not going to make America great. He’s going to make America orange.

What Rubio did was basically try to match Trump with schoolyard taunts.

Then he asked for a full-length mirror. I don’t know why, because the podium goes up to here. But he wanted a full-length mirror — [CROWD LAUGHS]

— maybe to make sure his pants weren’t wet. I don’t know.

He went after Trump on the debate stage —

If he builds the wall the way he built Trump Tower, he’ll be using illegal immigrant labor to do it.

[CROWD CHEERS]

— you know, went after his personal life as, you know, the three divorces —

Well, I don’t know anything about bankrupting four companies —

— his multiple bankruptcies, and in pretty colorful language —

So I’m looking at little Marco. And I say, man, there’s something happening with him.

— Trump returned fire even more so and really just demolished Rubio in aggressively personal terms —

And I see him starting to sweat like I have never seen anything like it.

— said how much he was sweating on the stage —

Thank god he has really large ears, the biggest ears I’ve ever seen —

— made fun of his ears, portrayed him as a lightweight who shouldn’t be president, couldn’t go toe to toe with any other foreign leaders, and really set him back politically.

You know, I called him a lightweight. I said at one point he was a lightweight. And I don’t mean to be insulting, but I do describe people somehow well.

I mean, suffice it to say, by the end of the 2016 race, the concept that there could ever be a Trump-Rubio ticket was completely unfathomable.

Yeah, exactly. But what a lot of people don’t realize is that Rubio really repaired that relationship with Trump. Rubio won more votes in his Senate race in Florida than Trump did for president in Florida. And that was oddly important to Trump. He brought that up repeatedly. Trump likes winners, right? And Rubio had won more votes than him. So there must be — he must have missed something.

He invited Rubio over to the White House early on in sort of a charm offensive with Rubio. And in the next few years, Rubio really did become a behind-the-scenes close advisor for Trump on foreign policy and some other areas. And now heading into 2024, Trump trusts him, views him as a valuable ally, and, maybe even more than that, as a pretty effective attack dog.

Right now, with Joe Biden in the White House, our adversaries are going to conclude that there are things they can get away with and they can do because this White House is not strong. They’re not prepared. They’re not even competent. And I fear what that means. This is a big, big problem.

Rubio has gotten very aggressive on television, going after the Biden administration and really the president himself.

If we have another four years of Joe Biden, I don’t know what this country is going to look like, but none of us are going to be happy about it.

Right, clearly no accident because he knows he’s in contention for the VP spot.

Absolutely.

Just to put a fine point on it, you would say yes if you were asked to serve as his vice-presidential nominee?

That would be presumptuous for me. I think anyone who’s offered that job to serve this country in the second-highest office, assuming everything else in your life makes sense at that moment, I mean, why — if you’re interested in serving the country, it’s an incredible place to serve. But we’re getting way ahead —

So Rubio clearly checks off a ton of boxes — TV ready, loyal, attack dog, doesn’t seem to do any harm to the ticket, I’m guessing here. He’s meaningfully older than Vance. Any weaknesses we should make sure to touch on when it comes to Rubio?

Yeah, the risks for Rubio are kind of counterintuitive here. The big thing is that Trump isn’t sure he really wants the job. He has not sat with Trump in the courtroom as others have. He hasn’t become a fixture at the former president’s rallies. He’s not turned himself into furniture at Mar-a-Lago like other Republicans.

This sort of idea that he wants to show Trump he wants the job but not too badly, it’s a strategy with a clear logic here. I mean, again, we talked about protection of Trump’s spotlight. But I’m told — my reporting — is that the strategy has kind of confused Trump. I talked to someone who sat with Trump the other day. And Trump asked him point blank, does Rubio even want the job? That’s not a good look for the Florida Senator.

Fascinating. So the flip side of ‘don’t overshadow me’ is ‘make sure that I feel a sufficient amount of your love.’ And Rubio, so far, hasn’t shown Trump enough love.

That’s exactly right.

OK, I think that brings us now to the third of these contenders.

And probably the least known. This is Doug Burgum, the governor of North Dakota, who would be, if he joins the ticket and wins election, the first vice president from the great state of North Dakota. So who’s Doug Burgum?

[PIANO MUSIC]

Who is Doug Burgum?

Doug Burgum is a kid that grew up in a small town, Arthur, North Dakota — 300 people. The streets weren’t even paved. I mean —

Burgum has amassed his own fortune —

I saw my first computer, and I said, wow, that’s going to change the world.

— by repeatedly building billion-dollar companies, including one he sold to Microsoft.

— had his fantastic run as a public company. Got acquired by Microsoft. And then I joined that team, and I helped build Microsoft.

He’s close friends with the billionaire former executive of Microsoft and has a number of other wealthy, rich tech investors on speed dial. This is important for Trump because he likes having connections to rich people who serve as sort of a validation for Trump. If you’re serving for me, that enhances Trump’s brand and Trump’s self-worth.

Working with President Trump as a governor was like having a beautiful breeze at your back.

I guess I can explain it this way. Trump likes to collect wealthy white men, wealthy white businessmen like they were porcelain dolls.

Who are we going to send back to the White House? Trump! That’s fantastic.

OK, well, besides this rich, white, porcelain dollage that Trump likes, what is it about Burgum that has drawn Trump’s interest in him as a potential VP?

Yeah, Burgum is in his mid-60s, which makes him closer to being a generational peer to Trump, who’s in his late 70s. And Trump likes generational peers. Remember in 2017, the average age of his cabinet was 62 years old, which was one of the oldest of any recent president. And Trump also likes Burgum’s independence, not just financially but politically.

He self-funded his own campaign for governor in 2016. He was an outsider candidate and won that race and his re-election without really any help from Trump or Trump’s political machine. And that’s important to Trump when it comes to who he can trust behind the scenes to tell him what he needs to know. He doesn’t want someone to do that publicly. He doesn’t want to be embarrassed. He doesn’t want to be overshadowed.

But behind the scenes, he does want some back and forth. He does want to hear different points of view. And when you agree with Trump behind the scenes, he wants to know that it’s not because you’re afraid that he might turn against you. Other folks who owe their entire political rise to Trump might have trouble connecting with the former president on that level. The folks I’ve talked to, who’ve been in the room with Burgum and Trump, have told me they have a very easy dynamic. There’s a very clear respect on both sides. And these guys seem to like each other.

Hm, so this is kind of fascinating, Mike. It sounds like one of Burgum’s biggest advantages is that his political career has been pretty independent of Trump. He didn’t start out as a Trump critic, who then needed to bend the knee for his own political survival, in the same way that both Vance and Rubio did.

Instead, Burgum made his way in politics by his own accord. He doesn’t really owe Trump much of anything. And to Trump, that might mean Burgum’s more willing to be candid with him, albeit behind the scenes, not publicly. And on top of all that, he’s older and therefore less of a threat to Trump’s spotlight, less at risk of overshadowing him.

Yeah, that’s exactly right. I would sum up Burgum’s advantages as saying he’s probably, in this group, the safest pick for Trump. But in a weird way, he’s also the biggest wild card. And what I mean by that is he is relatively untested on the national stage, even though he did run for president last year. But that was really a short-lived campaign. If you blinked, you missed it.

And he’s not really been on television as much as Rubio and Vance in recent years. And he is, [CHUCKLES]: you know, to put it generously, not known for thrilling applause lines on the campaign trail. And he has almost eight years in the governor’s office in a very, very Republican state with some very conservative policies that will get dug into by the national media. The big one, I think, is a hugely restrictive abortion law he signed last year as governor. Trump is responsible for overturning Roe versus Wade.

But he sees abortion as a real tough issue for Republicans. And having a running mate who signed a law that bans abortions after six weeks, including no exceptions for rape or incest after six weeks, is going to be a tough one for the ticket in the general election.

So Burgum has a lot of the things that Trump wants in a VP. But the problem would seem to be that he might do some harm to the ticket. And Trump has that “do no harm” rule.

That’s absolutely right. When it comes to Trump’s decision, the former president has a lot of things to think about.

Mike, we’ve been spending all this time talking about what Trump wants in his VP in 2024 and how these three potential contenders fit into that. But what we haven’t talked about, to circle back to the beginning and what Trump did to Mike Pence, is what Trump may ask of these three guys if they were to become his VP and how comfortable these three contenders might be in doing those things.

I mean, everything our colleagues have been reporting so far shows that a second Trump term would involve him testing the bounds of the Constitution. He’s going to seek more power than any president has in modern times. He’s talked about firing anyone in the government bureaucracy who challenges him. He’s talked about turning the Department of Justice into a tool for revenge against his political foes. What does it say about these VP contenders that they want to be the number two in that kind of administration?

To orbit Trump is to put at risk your own personal dignity. And all of these folks are very smart people who understand that. They know that they’re going to be put in some very precarious positions. And they’re going to have to shift their own thinking when it comes to politics, personal pride, and maybe even their legal interpretations of the Constitution.

Right. I think about how many people, Mike, in Trump’s orbit have been charged with a crime for what they did, for example, around January 6th.

Exactly. I mean, there are very few people who have put themselves in service of Trump and have emerged for the better.

[DRUM MUSIC]

All of these top three contenders have been on their own long journey inside the Republican Party to get to where they are now. And to join Trump’s ticket is really an acknowledgment that the old ways of thinking about the Republican Party and republicanism and conservatism are over and that Trump has won. And the reward for that acquiescence is potentially a spot as the number-two Republican in the country and possibly, next year, the number-two position in the most powerful government in the world.

Well, Mike, thank you very much. We appreciate it.

Thank you so much.

[MUSIC CONTINUES]

Here’s what else you need to know today. On Wednesday, Southern baptists voted to oppose the use of in vitro fertilization. It was an indication that ordinary evangelicals are increasingly open to arguments that equate embryos with human life and that fetal personhood may be the next front for the anti-abortion movement. The resolution against IVF adopted at the Southern baptists’ annual meeting is notable because fertility treatments are widely used by evangelicals.

And officials at the Federal Reserve said they would make a single cut to interest rates this year, suggesting that they are in no hurry to lower historically high borrowing costs. The Fed continues to believe that high interest rates, which remain above 5 percent, are the best weapon against inflation because they slow spending by both consumers and businesses.

Today’s episode was produced by Rob Szypko, Stella Tan, and Carlos Prieto, with help from Jessica Cheung and Nina Feldman. It was edited by Rachel Quester, contains original music by Marion Lozano, Rowan Niemisto, and Diane Wong, and was engineered by Alyssa Moxley. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly.

That’s it for “The Daily.” I’m Michael Barbaro. See you tomorrow.

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Hosted by Michael Barbaro

Featuring Michael C. Bender

Produced by Rob Szypko ,  Stella Tan and Carlos Prieto

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Original music by Marion Lozano ,  Diane Wong and Rowan Niemisto

Engineered by Alyssa Moxley

Listen and follow The Daily Apple Podcasts | Spotify | Amazon Music | YouTube

The makeup of the 2024 presidential race has felt inevitable from the start — with one notable exception: Donald J. Trump’s choice of a running mate.

Michael Bender, a political correspondent for The Times, explains why Mr. Trump’s requirements in a No. 2 are very different this time round than they were eight years ago.

On today’s episode

business plan of an artist

Michael Bender , a political correspondent for The New York Times.

J.D. Vance, wearing a red tie and navy suit, standing with his arms crossed looking at Donald Trump from behind.

Background reading

Here is a comprehensive look at who is in the mix to be Mr. Trump’s running mate.

Ben Carson is a wild card in the vice-presidential sweepstakes, but don’t count him out just yet.

There are a lot of ways to listen to The Daily. Here’s how.

We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.

Michael C. Bender contributed reporting.

The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, John Ketchum, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Summer Thomad, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg.

Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.

Michael C. Bender is a Times political correspondent covering Donald J. Trump, the Make America Great Again movement and other federal and state elections. More about Michael C. Bender

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Biden brings up ‘Dad’ a lot. Trump, not so much

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To the long list of traits dividing the two leading candidates for president of the United States, add this: what they’ve said — or not said — about their dads.

President Biden has used his time in the White House to talk repeatedly about the profound influence of his father. Former President Trump spoke much less during his time in Washington about his dad, and typically in admiring but less sentimental terms.

A sepia-colored photo of a man wearing glasses and a hat next to a younger man wearing a cap.

On this Father’s Day, the Biden administration is likely to issue a proclamation recognizing dads in general, and presidential father Joseph Robinette Biden Sr. in particular.

The younger Biden has repeatedly invoked his father — crediting Biden Sr., for example, for planting the seeds of his loathing of antisemitism, inspiring his support of paid family medical leave and firing his determination to put an end to human trafficking.

Trump credited Fred Trump Sr. as a tough patriarch but powerful influence in his life: instilling a belief in hard work and the conviction that private business gets a job done much better than government ever can.

Those views are recorded in the American Presidency Project , a comprehensive digital archive of documents and communications based at UC Santa Barbara. The database includes a search engine that makes it easy to find all manner of esoterica, including what all 46 presidents said about their dads.

Two men in suit and tie, both smiling, with skyscrapers in the background

The history of presidential fathers is wildly divergent, including doting dads, such as Prescott Bush, father of George H.W. Bush, and scoundrels, like Roger Clinton, the stepfather of Bill Clinton, who drank excessively and beat his wife, Virginia, regularly.

Biden has cited “my dad” or “my father” on more than 200 occasions since taking office in 2021, rarely going a week without mentioning Biden Sr., and name-checking his dad for such things as his resolve to support Israel and his pride in his Irish roots, the archive shows.

Trump invoked “my father” 21 times during his four years as president, including the time he boasted how his father’s negotiating prowess set the template for his own haggling with Boeing to get a “great deal” on a replacement for Air Force One, the UCSB archive shows. (The Air Force expressed concern about getting all the state-of-the-art features it demanded, given the cut-rate price, Bloomberg reported .)

I know a lot of you always kid me for always quoting my dad

— President Biden

Trump never uttered “father” or “dad” in his inaugural address, and his father never made it into his State of the Union addresses.

At his inauguration, Biden recounted his dad’s financial struggles and cited him in all his State of the Union addresses. “I know a lot of you always kid me for always quoting my dad,” Biden said at his 2023 address before launching into yet another story about his father.

Two women, one in a cream-colored evening dress and the other in a black one, are flanked by men in dark suits and bow ties

In the fine tradition of presidential image making, neither the current nor former occupant used his time in the White House to delve into the darker or more complex shadings of their relationships with their fathers.

Trump worked with his father when the family’s real estate company faced a pair of lawsuits alleging it denied apartments to Black tenants. The Trumps rejected the charges. They settled one case by allowing a Black family to move into the family’s Cincinnati housing complex. The other case ended in another settlement, in which the family did not admit wrongdoing but pledged to rent to tenants of all races.

Before his time in the Oval Office, Trump acknowledged it was not easy being the son of a relentless businessman. “That’s why I’m so screwed up, because I had a father that pushed me pretty hard,” he wrote in his 2007 book, “Think Big.”

A man in suit and tie with another, older man, both in suit and tie and smiling

Biden’s father hopscotched through a variety of jobs in a career of busts and booms. A man who favored ascots, skeet shooting and jumping horses, Biden Sr. at times lived a more patrician lifestyle than his son’s folksy, working-man tales might suggest.

In his memoir, “Promises to Keep: On Life and Politics,” Biden acknowledged discovering a polo mallet, riding breeches and other markers of a privileged life in his father’s closet. He also described a certain distance from the man he idolized. “I never asked him much about his life,” Biden wrote, “and he didn’t offer.”

During World War II, when the future president was a toddler, the elder Biden worked for a defense contracting firm. A profile in the New Yorker described how the U.S. government cited the company for extracting excess profits (which were limited during the war effort) and forced a return of some of the money. Biden Sr. was an employee, though he was close to the company’s owner. He faced no charges of wrongdoing.

That’s why I’m so screwed up, because I had a father that pushed me pretty hard

— Former President Trump

Profiles of Trump have recounted a childhood of considerable privilege, bankrolled by his father’s real estate holdings. But the abundance came at a price.

Trump’s parents shipped their incorrigible second son off to military school 90 minutes outside New York City just after his 13th birthday. A childhood friend recalled to Politico how Trump told him his dad instructed him “to be a ‘king,’ to be a ‘killer.’” An instructor at the school told a biographer that the elder Trump had been “really tough” on young Donald.

Announcing his presidential candidacy in 2015, Trump professed his love of his father. “I learned so much,” Trump said at Trump Tower. “He was a great negotiator. I learned so much just sitting at his feet playing with blocks listening to him negotiate with subcontractors.”

A man in dark suit and red tie, arms folded, speaks in front of a desk with framed photos and a statue of a person on a horse

The future president said he defied his father in at least one sense. “He used to say, ‘Donald, don’t go into Manhattan. That’s the big leagues. We don’t know anything about that. Don’t do it,’” Trump said during his campaign kickoff. “I said, ‘I gotta go into Manhattan. I gotta build those big buildings. I gotta do it, Dad. I’ve gotta do it.’”

“I was never intimidated by my father, the way most people were,” Trump wrote in his memoir, “The Art of the Deal.” “I stood up to him, and he respected that. We had a relationship that was almost businesslike.”

Fred Trump Sr. died in 1999 at age 93. Mary Anne MacLeod Trump, the future president’s mother, died the following year at 88.

In early 2019, he told the Conservative Political Action Congress that his father had taught him, “Nobody ever got rich by sitting behind their desk.” Trump added: “He’d say: ‘You’ve got to be on this site. You’ve got to be with the contractors. You’ve got to see if they’re ripping you off. You’ve got to collect every nail that’s dropped, every piece of wood.’”

Trump said his father’s advice paid off in his 2016 victory over Hillary Clinton, in which he won while spending a little more than half what the Democrat did.

“My father would say, ‘If you could do it for less and win, that’s a good thing, not a bad thing,’“ Trump said at a 2019 Minneapolis rally. “If you can build a building for less money than the guy across the street, and if it’s a nicer building and you can rent for less ... that’s like a good thing.”

When Joe Biden Sr. died in 2002 at 86, his son eulogized him as “a dreamer burdened with reality.”

A man in a tan-colored suit and tie, left, stands next to a woman in a dark dress and a man in a dark jacket and white pants

The president’s frequent invocations of his father brim with affection, recalling that his dad called him “Joey” and “honey.”

Just one week after Biden took the Oval Office, he mentioned his father in a document from the White House, in an official statement for International Holocaust Remembrance Day.

“I first learned about the horrors of the Holocaust listening to my father at the dinner table,” Biden said. “The passion he felt that we should have done more to prevent the Nazi campaign of systematic mass murder has stayed with me my entire life.”

Biden said he had taken his children to visit the Nazis’ Dachau death camp in Germany and intended to take each of his grandchildren so they will “understand in their bones what can happen when people turn their heads and fail to act.”

It was one of a dozen occasions as president that Biden invoked his father to explain his loathing of antisemitism or his support of Israel.

The president also cited his father as the one who taught him to abhor the abuse of power. He told Congress in a statement that advice was the source of his determination to “eliminate all forms of gender-based violence in the United States and around the world,” which he called “a central part of my life’s work.”

Biden is more likely to name one of his dad’s business setbacks, rather than his successes, as providing a key life lesson. He told a crowd in his hometown of Scranton, Pa., about the time his father lost his job and had to make “the longest walk a parent can make,” to tell his children the news. “That’s a hard thing for a proud man or woman to do. But so many had to do it,” Biden said.

Biden Sr. subsequently left his wife and kids at his own father’s home to move to Delaware for a new job as a car salesman, returning to Scranton to see his family on weekends.

Biden said his father told him, “Joey, a job is about a lot more than a paycheck. It’s about your dignity. It’s about respect. It’s about being able to look your kid in the eye and say, ‘Honey, it’s going to be OK.’”

On his first Memorial Day as president, Biden quoted what he said was his father’s core philosophy: “That we’re all entitled to dignity ... and respect, decency, and honor.... They’re not empty words, but the vital, beating heart of our nation.”

Like the Biden White House, the Trump administration issued proclamations paying tribute to dads every Father’s Day.

“More and more, scientific studies show that fathers who actively invest in their children improve their lives emotionally, physically, academically, and economically,” said one line in Trump’s 2019 declaration.

Unlike Biden’s Father’s Day statements, which tucked in recollections about Biden Sr., the Trump declarations spoke of dads more generally. None mentioned Fred Trump Sr. by name.

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June 16, 2024

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business plan of an artist

James Rainey has covered multiple presidential elections, the media and the environment, mostly at the Los Angeles Times, which he first joined in 1984. He was part of Times teams that won three Pulitzer Prizes.

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  21. The Artist's Guide to Making A Business Plan

    Creating a business plan can be a lot of work, but it is an essential step for any artist who wants to start or grow an art business. Your business plan is one of the most important tools you can have in your arsenal. This document outlines your goals as an artist's business, the steps you need to take to achieve those goals, and the ...

  22. PDF Example Business Plan for Artists

    decline. Artists with an independent streak can position themselves to build their own fan base and leave middlemen out. My business needs to diversify its product and broaden its market. Artists are in drastically different places in their business timeline, and I must grow my offerings to accommodate artists wherever they are in that timeline.

  23. Fine Art & Crafts Business Plans

    Find a sample business plan for scrapbooking, art supply, gallery, fabric, stained glass supply, or other arts and craft supplies related business, and start writing a business plan to make your dream a reality. Explore our library of Fine Art & Crafts Business Plan Templates and find inspiration for your own business.

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  26. Adobe Creative Cloud Plans, Pricing, and Membership

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