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The size, scope, and vision of the art gallery will depend on what is already available in the city or town where the new art gallery will open. Rely on experts such as artists and members of the business community to assess the market for your gallery. Try to gauge whether or not a type of art you are interested in or knowledgable about is adequately represented by current galleries in the area. If not, you have a starting place for your vision. In order to successful, an art gallery must have a well-defined vision. This vision is the purpose and identity of the gallery and informs everything from the design of the space and choice of artworks to the clientele the gallery will seek to attract. Think about what type of art you enjoy and also what types of work people in your area would be interested in. At the intersection of those two types, you can find your vision. Make sure that you are able to create a niche by having a separate vision from other galleries in town or in your area. Keep your vision consistent. Don't back down or change your vision just because sales are low initially. Choose a type of work that you have a depth of knowledge in. Work to become extremely knowledgable in each piece you place in your gallery, even if you don't know everything about the art world in general. Buyers will feel more comfortable if you are able to explain each piece in depth and place it in context within the genre. For example, you should be able to explain the importance of the originality, socio-historical significance, meaning, subject matter, and modern relevance of each piece. Make sure you can explain your art in a way that is not intimidating or off-putting to inexperienced visitors. That is, don't drop into high-level art lingo with new customers until you become aware of their own experience level. The art gallery location should be visible, easy to get to, and have enough interior space to house several collections of art. Many art galleries host parties and receptions for the artists, so the space will need to be able to accommodate food and drinks, as well as be hospitable to people mingling. Think realistically about how much you can spend on gallery space. You may not be able to afford a lease in the best part of town or for a huge space. However, make sure that your space is adequately spacious for your purposes and in a safe part of town. Try looking in areas populated by other galleries, near art schools, or in up and coming areas. If possible, look for a location with extra space so that you can expand later if you need to. Interior decor should be minimal and basic so that it does not compete with or take away from the art that will be on display. As with all aspects of your gallery, the interior design should match up with your vision. Make sure to include enough room to admire the art from a distance and to have open space from events. Leave room for a business office for yourself and for storage of pieces not currently on display. Businesses can have a variety of organizational structures, from sole proprietorships to corporations and partnerships. Each has its own advantages. Sole proprietorships simplify taxes for the business owner by combining their personal finances with those of the business. However, forming a corporation or LLC can protect the founder(s) from personal liability (their assets are separated from the those of the business). Incorporating a business requires another set of steps and these steps will vary based upon your location. . Your business plan establishes how your gallery will get started, run its operations, market itself, and grow over time. Start with an executive summary of your gallery, including a summary of the rest of information in the plan and a brief description of your growth plan. Next, describe your business, including information like what type of art you will be focusing on, what market you hope to serve, and how you will carve out a niche among your competition. Include an analysis of your competitors and market. Set out in clear terms your management structure, including ownership shares and profiles of managers. Explain your funding requirements and how you plan to get that funding. This is important as your business plan will be used when acquiring business loans or investor money. Include growth plans and revenue projections over the years. Explain how you plan to make money. Art galleries typically make a commission on sales. This can be as high as 50 percent for two-dimensional work and 40 percent for three-dimensional work.
Analyze the current market. Clarify your vision. Become an expert in your niche. Choose a location. Design the interior of the gallery. Choose a business structure. Create a business plan