Tuesday, July 2, 2013

How to Write a Simple Business Plan for Artists

Got a business idea but not sure about going ahead with it and making it a reality? Writing a business plan will really get you thinking about all you need to know and consider. Business knowledge is a must for any artist wishing to turn their practice into a thriving success. Starting with off with simple business knowledge such as how to write a tax invoice or receipt for a sale of artwork, how to write a contract for consignment for artwork to be displayed or how to write a contract to commission artwork are all important basic business documents any artist should have.  

So you are thinking about getting serious? You want to make art your full time job or sell products of your art? Maybe you want to deliver workshops or art parties, start a gallery...whatever is your artistic venture, you need to write down your ideas and consider all aspects before taking such a financial risk, especially if you are putting your own or borrowed money into your business. 

Things you needs to consider are defining what is the business, what is your product or service, who is your target market, where are you located, how will you market your business, who is your competition, what makes you different or unique, what will be the start up costs etc.

I have created a very simple short version of a basic business plan template you may find helpful to get you started. 

Tips
  • Research your business ideas over time
  • Research your identified competitors -Look to those who have 'been there done that'
  • Don't try to complete the document in a day
  • When you have considered all the subheadings...take the business plan further and get more details. Look into more legal, financial and administrative aspects of your business plan.

The Australian Government website business.gov has a very comprehensive resource template you can download and it breaks the sections up into more detail. Visit the page here.

Helpful websites:
Arts Law Centre of Australia
Youth Arts Queensland -Factsheets
Arts Queensland -Business Plan
ArtsLink -ArtsYakka resource
National Association of Visual Arts -Publications

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