How to Write an Artist Business Plan

When you create art to sell, you’re running a business. For most entrepreneurs, a business plan justifies their reason for being in business. For you, creativity is your justification for making art to sell. A business plan gives you credibility as a serious businessperson by offering production, marketing and financial goals to consider for your startup.


Describe what you do in a brief summary. Specify whether you paint still lifes, do abstract collages or illustrate children’s books. Describe your typical clients. They might be private collectors, corporations, publishers, gallery owners or auctioneers. The summary can help you identify clients you might want but don’t yet have.


State your purpose in a mission statement. In one or two sentences, the mission statement clarifies why you make art to sell and what you want to accomplish. Maybe you create prints out of your original paintings to make art affordable and accessible to more people. Or perhaps you illustrate note cards and donate a percentage of the proceeds to advance a charity’s cause.


Describe your business team. Artists usually work alone and are responsible for all aspects of the business. However, if someone helps with billing, accounting, connecting with clients or hanging exhibits, include them as members of your team. Describe each one’s function, skills and experience. Emphasize your special talent as an artist, such as having exhibited in galleries or having studied under a well-known artist. Use the “business team” description as your wish list for the type of people you need so you can stay focused on producing art. For instance, you might find the services of a part-time financial manager or administrative assistant necessary in six months to a year from now.


Add market analyses. Show your knowledge of the art industry through market research. State any changes in the industry that might affect your sales, such as the shift from gallery exhibits to online sales. Keeping up with art industry changes helps you decide whether you need to find new buyers for your work or new ways to market it.


Describe how you plan to market you work. List your ideas and when you expect to start them. You might want to run a local drawing for a free portrait sitting three months before the holiday season. Or you might want to give four art lectures at your local library for a stipend. Include all the necessary steps involved and whose help you might need. For a free portrait sitting, for example, you might need a newspaper to advertise the event and perhaps a high-profile community figure to select the winner’s name.


Include a financial plan. List your current revenue sources. Add estimates for future sources. Factor in the cost of art supplies, which is likely one of your largest expenses. Also factor in the cost of production methods, such as printing and framing; overhead if you work out of a rented studio; and marketing. Describe where or how you plan to get the money to increase sales or cover budget shortfalls. Perhaps you plan to approach art investors or apply for government grants. Maybe repurposing your art on new products might generate sales.