Need a Physical Location for Your Art-Based Business?

But not sure where to start? Keep reading to get started in securing the right location for you.

Much of today’s business is done online, and while you can’t escape it, you may also be interested in opening a physical location for your art-based business. Here are 5 important considerations to keep in mind:

1. Think about how much space you’ll need

Based on your business model, what activities will take place in this location? Based on those activities and the number of workers and customers you might expect to be in the space at one time, how large will your location need to be? Be realistic and understand that more space means more money in rent.

2. Think about how much you should spend

Based on your business model and expected target market size, understand how much revenue you expect to make. Many experts advise that your rent cost should not exceed 20%. Of course, the lower your rent is, the more profit you’ll make. With that being said, there are factors other than rent that should be considered when looking for a location.

3. Think about what area would be best for your creative business

Who is your target customer? Where do they live and what other areas do they frequent? Think about what factors are important for your kind of business. For example: Depending on if you’ll need lots of foot traffic or a large industrial building, your ideal area will vary greatly. So ask yourself what you’re looking for in a perfect location. Do forget to ask: What other businesses would be best to have as neighbors?

NOTE: Develop a list of important criteria you can use to help select your final location. Prioritize those criteria and refer to them whenever making a decision about a potential location.

4. Research local commercial real estate agents

Finding a real estate agent whom you think is honest and benevolent is an ideal situation. While that won’t always happen, its important to try your best to find a knowledgable and connected real estate agent. Ask around for recommendations and scour the web for reviews. Once you start working with an agent, share your prioritized list of criteria with them.

5. Visit multiple locations, if possible

Its often helpful to have multiple locations to choose from, so that you don’t find yourself settling on an almost-perfect location. With that being said, there is almost never a 100% perfect location. So make sure to keep your list of prioritized criteria handy and refer to it often. Discuss your available options with your business partners. If you’re a “soloprenenur,” ask your friends and family, or your SBDC Business Advisor, what they think. Talking through your options can often help you understand which selection is best.


Looking for your ideal business location will take time, so plan ahead and try to be patient. If you’d like to read about securing a physical location in more depth, leave a comment below. There are many aspects to finding a great business location; these five tips are the best place to start. Good luck!

Peace, Kayla

Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to get straight-to-the-point information that will help make your artrepreneurial journey easier!

How to Build a Business Model Around Your Art

VLOG: Thinking about building your very own art-based business? Here are 5 steps for getting started, in under 5 minutes!

No time to watch? Here’s a RECAP:

1. Identify the product or service you can offer

Depending on what kind of art you create, you may need to make adjustments in order to make your art a sellable product or service. Think about your art and interests… What products or services can be created from them?

2. Think about why people would want to buy your product or service

Once you’ve discovered your sellable product or service, you must ask yourself: Why will people buy my product or service? Think about “pain points”–these are things that your potential customers either can’t do on their own, or it’s really hard for them to do on their own. If you can solve a problem for your customers, or fulfill a need or want that they have, you’re in good shape to move on to step #3.

3. Ask yourself how you can deliver your value in a unique way

You’ve found your product or service and your best-fit customers, now you need to think about how you’ll offer your value in a way that’s different from your competitors. This is called your differentiation. Without it, you’ll struggle to capture the attention of your potential customers.

4. Look around for organizations or individuals who can act as your strategic partners

Now that you’ve solidified your value and how you want to deliver it, think about others who can help make your vision a reality. Who can help you create your product, market your product, and sell your product? Who can you partner with in order to make your artrepreneurial journey easier?

5. Visit this article to flesh out your creative business model

If you’ve gotten this far, its time to flesh out the details of your creative business. Visit the One-Page Business Plan for the Artrepreneur to finish developing a creative business model around your art!


Best of luck in your artrepreneurial journey! Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to get more straight-to-the-point information that will help you develop your very own art-based business!

Peace, Kayla

Tips for Naming Your Art-Based Business

Naming your business is an important step in developing a recognizable art-based brand. Here are some tips to help you find the “perfect” name!

1. Be clear about the product or service you offer

Every see or hear a business name and have no idea what the company actually does? Be careful with creating a name that is hard to directly relate to your business. Many artrepreneurs choose a descriptor word that follows the core business name to help give customers a hint about what they do. For example: Creations Film or John Doe Design. Others select names that play on the product or service provided. For example: The Sound Station or Artist’s Cafe.

2. Reflect your brand

In this article, we talked about building a brand around your art that acts as the core to your business image. Keep your brand in mind when developing a business name. Does your proposed name fit with the messaging style that you’ve decided on?

Some artrepreneurs name their business first, and then build their brand around that name. This is a slippery slope that can cause you to lose sight of the value you’re trying to offer. Instead, think about the value you’re providing your customers and how your business name can help to enforce it.

3. Be original, but easy to remember (and even familiar)

Originality is often praised in artrepreneurship, but Derek Thompson, author of the book Hit Makers, makes the argument that originality on its own is not king. People are more drawn to things that feel original AND familiar. Familiarity makes a business name easier to remember and creates a positive feeling in the hearts of consumers. So when naming your business, think about names that are somewhat original, and somewhat familiar or recognizable. This meet-in-the-middle method will help you create a business name that is preferred by most consumers.

4. Do your research

So you’ve gone through tips #1-3 and think you’ve found the perfect name for your business. Before you get too attached, make sure you do your research to confirm that the name is not already in use. There are 4 main places you’ll want to visit:

Google

A simple Google search can tell you right away if your potential business name is already in use. Is there another business or blog that floods your search results? If so, you’re going to have a hard time getting to the front page of Google, and a harder time becoming the very first search result that people will see. Check out what already exists online so that you can get an idea of the plausibility of your new business name.

NameCheckr.com

If you don’t see any competing online presences that might threaten the success of your new business name, it’s time to check out NameCheckr.com. This site allows you to simultaneously check all top-level domains and social media sites for your preferred business name. For example: You might want to name your business: Artist’s Cafe. On NameCheckr.com, you can see if that name is available for a .com domain, and as a username on Instagram, Facebook, and Twitter. Using this kind of resource helps you to think about name consistency across your many digital presences.

USPTO

The United States Patent and Trademark Office should be your next stop. Here, you can search all trademarks to understand if your potential business name has already been trademarked. You can search all US trademarks here (search for “Basic Word Marks”).

NOTE: Trademarks rely much on the “Likelihood of Confusion.” If your trademark is too similar to another in your same goods or services category, you may get denied. However, let’s say there is another “Artist’s Cafe,” but the associated goods and services category is Clothing. Since you want to open a Coffee Shop, this other trademark will not be a problem, because it exists in a completely different industry.
But, if there is a trademark registered for “Artist Cafe” in the Coffee Shop industry, you might have a problem. “Artist’s Cafe” and “Artist Cafe” are too similar, and are considered to have a high likelihood of confusion for consumers–so you will most likely be denied a trademark under that name.

State Business Entity Search

The last place you’ll need to visit to confirm the eligibility for your potential business name is your state’s business entity search portal. This search engine will populate any competing business names in your state. If another business has already filed a business license under your potential name, you’ll need to choose another. To find your state’s business name entity search, go to Google and type in: ‘Your state’ business entity search.

Here are the Business Entity Search Portals for both Nevada and Oregon:
Nevada Business Entity Search Portal
Oregon Business Entity Search


Naming your business is one part heart and one (large) part strategy. Work through tips #1-4 as you develop the right business name for your art-based business! Remember: There is no formula for developing the perfect business name, so don’t drive yourself crazy trying to find the perfect one. Once you find a name that checks off tips #1-4, stick with it and get started on building your very own creative business!

Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to get more straight-to-the-point information that will make your artrepreneurial journey easier!

Peace, Kayla

How to Price Your Work as an Artrepreneur

As an artist, it might be tough to put a price tag on your work. But as an artrepreneur, putting a price tag on your work is the key to your creative business.

How do you decide what price is right?

1. Based on Expenses and Desired Profit

One way to price your work is to think about how much time and money it will cost you to produce your service or product, and how much money you want to make off of it.

For example:
Let’s say it costs you $15 in supplies and 15 hours of time to create your product. First you must ask yourself: How much is each of your labor hours worth? Maybe you want to make $30/hr… $30 x 15 hours = $450 in labor for this project. Great. Now you can add in the $15 you spent on supplies, and you’ve got a grand total of $465. At this number, you’re breaking even. But what if you want to make some extra profit? Maybe you’ll charge $500 instead, so that you can make 35 extra dollars of profit to put toward running your business. If $500 is really low compared to your competitors, maybe you’ll charge $800 and make $335 in profit to put back into your business.

Note: Tracking your time is critical for pricing your product or service. To understand how much you should charge for labor, you must understand how much time you are actually spending when developing your product or service.

This method helps you to understand the minimum amount you should charge (all your expenses + the profit you desire). But, #2 helps you to understand the wider range of pricing that might be acceptable for your creative business.

2. Based on the Competition

What is your competition charging? What value are they providing for that price?

For example: If the average price your competitors is $500 dollars, that might be a good sign that you should charge a price in somewhere around $500… UNLESS you provide an additional value that is worth paying extra for. You’ll need to conduct competitor research to understand what your competitors are charging and why. Doing this will help you to better understand the range in which you should price your product or service. However, #3 will tell you the maximum amount you can truly charge.

3. Based on What Customers Will Pay

At the end of the day, you can only charge as much as your customers will pay. When you tell a potential customer that your product or service is $20, how do they respond? If they seem too pleasantly surprised, maybe you’re not charging enough. If they seem too unpleasantly surprised, maybe you’re charging too much. Obviously, this form of measurement is vague, but its all about trying to gauge how your customers, or potential customers, feel about your pricing. Want to know for sure? Try asking! Consider a pre- or post-purchase survey, or even asking them in person.

At the end of the day, your pricing should reflect the value you offer. Make sure to understand your customers’ “pain points” and how you help alleviate them. As you test your creative business model, listen to the response of your customers and make adjustments accordingly.

Challenge: Talk to 5 people who have purchased or may be interested in purchasing your product or service. Ask them how they felt/feel about the value they received/will receive for the price they paid/will pay. Record their answers and think about how you can use that information to create or adjust your pricing strategy. Good luck!

Peace, Kayla

Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet for more on all topics artrepreneurship related!

The Artrepreneur’s Battle with Ego

This is a blog about artrepreneurship–so why are we talking about ego?

Beowulf’s inability to control his ego and let go of his pride ultimately resulted in his death and the vulnerability of his people.
Lucifer’s hubris and selfish viewpoints disconnected him from his heavenly people and caused suffering for the world below.
King Oedipus’ prideful attempts to deny the prophecies of the Greek gods brought about the death of those he loved.

Our (real and imagined) relations with the phenomenon known as the “ego” are nothing new. For centuries, we’ve been intrigued by ego and its impacts, most likely because it affects each of us. Our fascination with ego is not unprecedented–when not monitored and dealt with strategically, our egos can cause problems for us that we never intended.

artrepreneurship, ego, successful entrepreneur
Image by Gerd Altmann from Pixabay

That’s why it’s important for us to talk about ego here at Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet. As an artrepreneur, you will be faced with many challenges related to your ego. After all, this is YOUR creative business, this is YOUR vision, and much of your success lies on YOUR decisions and actions. It’s hard not to overemphasize the importance of yourself.

However, there are some ways you can keep your ego in check during your artrepreneurial journey:

Listening to others
As an artrepreneur, its important to ask others for their thoughts and opinions. We’ve talked before about the importance of others along your artrepreneurial journey: involving others can help you strengthen your weaknesses, come up with new ideas, and see things from different perspectives. Take the time to listen to what others have to say. You might find a gem in their advice one day.

Asking others for advice (and sometimes, taking it)
This is similar to listening to others, but requires that you take the first step in initiating their involvement. When you do ask for advice from others, listen deeply and consider what they have to say. Remember: you don’t always have to follow their advice. But, if there seems to be potential in what they have to say, don’t be afraid to take their advice and give them credit for the benefit they’ve added to your creative company.

Trusting the ability of others
Sometimes, we’ve added people to our team but still don’t fully trust their ability to execute. It’s easier to trust and rely on ourselves, because we’re confident that we won’t let ourselves down. But sometimes, you have to give others a chance to prove their ability and add to your vision. If they let you down, you can re-evaluate their position with your business–but at least give them a fair, fighting chance.

Evaluating yourself realistically
We’ve talked many times about the importance of being able to evaluate yourself and your circumstances from a place of reality. Sometimes, our ego can cause us to overestimate our own abilities or underestimate the abilities of others. This can leave promises unfulfilled and opportunities undiscovered. Work with your ego by evaluating yourself realistically and acting accordingly.

When you don’t take the time to check your ego as an artrepreneur, you might face unnecessary problems, such as:

– Losing potential partners
– Losing potential clients
– Missing out on good opportunities
– De-valuing your brand

Dealing with your ego might not be the first thing you think of when planning for your artrepreneurial journey, but it’s important. Keeping your ego in check will help you build a successful creative business that will last.

Peace, Kayla

Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to receive more straight-up information that will make your artrepreneurial journey easier.