Art holds distinctive beauty within its walls; it’s a temptation to those who love art and its expressions of life. Starting an art consulting company can be a labor of love and, most often, also a labor of time, energy and determination. However, the key to starting and operating a successful art consulting company is found in the process of establishing the footprint of your company in the days before the doors open. In this article, you’ll find the major elements that lead to a successful start-up for your art consulting company, along with some secrets we’ve learned that will ease the way.
Research Your Audience and Competitors
Before finding the perfect location for your art consulting company, it’s essential to learn about those who will become patrons of your art consulting company. Who is your audience, in particular, and why will they choose to visit your art consulting company? Do they appreciate modern or traditional art? Are the clients on the hunt for unknown artists? The first key to a successful art consulting company is knowing what pieces the clients of your art consulting company may want or need. With this research in hand, you can determine how to blend art pieces into an art consulting company that eager clients will want to patronize.
Researching key facts about competitors of your art consulting company is also essential for your business. Determine how many art-related businesses are within close proximity to the potential location of your consulting company. Study the art styles offered in local art galleries; the pricing models, the rate of customer traffic and other observations that will inform your research. At this point, list the unique offerings of your art consulting company in comparison to any competition. You will want to highlight the unique offerings of your art consulting company in order to successfully compete against competitors.
Build Your Business Plan
If your initial response to building a business plan is, “I don’t want to bother with a lot of paperwork,” our answer is, “Neither do we.” A business plan, however, is the backbone of success in starting and successfully running an art consulting company. One of the shortcuts we’ve adopted mitigates the paperwork by using a business plan template. Some of the essential features of a complete business plan include the following: financial objectives and operational plan, mission and objectives of your company, marketing strategies, and location selection for your art consulting company.
Financial Objectives, Funding and Operational Plan
Securing funding is a crucial key element of starting a company and it is often the one most overlooked. Your business plan should include enough information to offer a roadmap for at least the first year of operation and details about costs; such as lease payments, staff salaries, inventory purchases, office equipment and other supplies, should be included.
Moreover, because the bulk of customers will want to visualize art selections available either through a gallery, the art consulting location, or on demand, the investment in high-end photography will be a major expense to consider. You may consider hiring a photographer on a part-time basis, simply to follow your travels and document your art-finding and collaborating methods. The financials section of your business plan will offer both the present-day snapshot, as well as the visionary view, which will be especially helpful for potential investors or lenders.
An operational plan will set the initial operations of your art consulting company into place. Utilizing an operational plan from the first day of business will bring effective planning, communication and organization for you and your staff. Although the company may be started on a smaller ground-floor niche, every role and responsibility should be clearly defined.
Accounting and financial aspects of operating the company need to be addressed on a regular basis, particularly with regard to the deductible expenses of travel, meals and other related items. If employees are hired, payroll deductions and other tax-related duties need to be included with regularity, as well. As the art consulting company grows, the operational plan can be expanded, as needed.
The style and emphasis of artwork choices within your art consulting company will establish your marketing strategies because art is all about the visual sight and response of art. You’ll want to consider using a high-end photographer for any art photos displayed in your press releases, website, and marketing materials. You’ll also want to demonstrate creativity in the marketing strategies you utilize.
Consider your target audience when composing marketing strategies. For example, if the art consulting company emphasizes new, on-edge, or contemporary art, the target audience may be young adults living in a condominium building. A pop-up art display in the lobby of that building might be the perfect strategy to reach new art lovers. And, traditional art may be attractive to area homeowners who would enjoy attending a wine-tasting at the art consulting company to view selected pieces.
In addition to targeted marketing, the art consulting company website will be effective as a portfolio display, offering consulting business announcements, an artist’s blog, and other inviting offers. Social media, such as Facebook and Instagram, can also be employed to announce new works or upcoming events. These art consulting company marketing examples provide great ideas to start your social media efforts.
Selecting the Art Consulting Company Location
In addition to building a complete business plan, the consideration of the location is of primary importance. An art consulting company deserves a large audience and a busy retail district is one example of a location you may want to choose for your consulting company. You’ll want a location that invites plenty of foot traffic and parking, which is a bonus for your clients. Adding interior lighting that conforms to art pieces on display will aid in generating sales. Consider adding a sound system that will enhance the mood of the buyers.
Starting a successful art consulting company can be a work of art in itself. Completing the key elements to create success, such as researching your target audience and competitors, building a business plan and choosing an excellent location, will provide a powerful addition to both the start-up success and the long-term growth of your art consulting company.