How Much Does It Cost To Run An Art Business? When I coach artists who want to launch their own Art Licensing businesses, they often wonder how much it REALLY costs, month to month, out of pocket, they will have to invest to get this thing off the ground.
There are SO MANY ways to make money from your art. In fact, I have highlighted them HERE in this free 48 page PDF Guide. Download it and use it to see which path is the right one for YOU.
The GREAT NEWS about being an artist and creating income from your art is that the overhead can be relatively LOW compared to many other business models.
Now, back when I started MY art business in 2009, my out of pocket expenses included my art supplies, my computer, and my $600 archival art printer. At that time, art licensing wasn’t even on my radar, so I began my journey by focusing on paper goods and art prints.
A product based business will have a higher overhead than that of an Art Licensing or POD based business.
For this reason, I encourage ALL aspiring art business owners to consider Art Licensing as not only a foundational income stream, but as a way to prepare you for designing for MARKETABLE PRODUCTS that customers will actually want to purchase.
If you can create an art portfolio for licensing that is overflowing with marketable art, then it will only be a matter of time before you can create your OWN products. Then, you can focus on Print on Demand or make your own Product Line.
I surveyed the members of my Creative Hive Mastermind to see what their monthly overhead is. I used their responsees to put together a current list of overhead expenses.
Without further delay, here is an overview of the financial overhead to run an art licensing and POD business.
Expected Recurring Expenses: These are the bare minimum that you need as an artist trying to get your business off the ground.
- Adobe Creative Cloud: $29/month
- Newsletter Provider Fee: $0/month (many newsletter services are FREE up to 1,000 subscribers)
- Dropbox: $12/month
- Custom Domain: $1.25/month
- Custom Website: $30/month
- Bookkeeping Program: $25/month
Average Monthly Total: $100 per month
Educational Expenses to Grow Your Business: The way you go from an idea to bringing it to life is through continuous education. You will be able to afford more overhead the faster you learn how to sell your art. I spend over $10k every year on my own education.
- Educational Expenses: $30-$100/month (my membership, The Creative Powerhouse Society, or my course, Leverage Your Art, are an example of this)
- Skillshare Membership: $13.99/month (as of the time of this writing, if you publish a class on Skillshare, you are given a free year of Skillshare!)
Average Monthly Total: $79 per month
Other One Time Expenses to Consider: Keep in mind that many people first starting out their art licensing businesses use what they already have or what they have access to. You can check out local resources such as computer labs, your library, or even a local SCORE office to see if they can help.
- Business Cards: $39.95 for 500 cards
- Business License: $40 a year (check your city’s cost for a license_
- Art Supplies: Varies
- Macbook Pro: $1299 Brand New. Look for refurbished MacBooks to save $$
- Ipad Pro with Procreate: $799 Brand New. Look for older models to save $$
Average Total: $2,268
Remember, you can find most equipment for less than the listing price. I hardly ever purchase brand new! And, if you can only pick one item to start with, the Ipad Pro is now able to run Adobe CC programs on it. YAY!
Does this blog post answer your question about the cost to run an art business? So, do these amounts line up with your experience? Does seeing the $$ making an Art Licensing or POD business seem more doable?
I’d love to hear your thoughts!
I’ll be back next week where I break down how I’m ACTUALLY making money in my Art Business RIGHT NOW. I’m pulling back the curtain, giving you some JUICY scoop.
Stacie Bloomfield
