5 Revenue Streams for my Art Business

John Bishop Fine Art : Podcast

I have joined the Professional Artists Association's individualized coaching program. This year-long program focuses on my professional art career, and very specific goals. My coach, Cristina, meets with me virtually via zoom, and monitors my progress, keeps me accountable, and answers questions I have along the way.

With my new coach, I've created a list of five revenue streams that I would like to develop/enhance to strengthen my art business.

1. Direct Sales: These are activities like open studio hours, events, art fairs, pop-up shows, and exhibitions. I am referring here to any activity that allows me to sell directly to the public, or my VIP collectors. These sales are great, because I get to keep all the money.
2. Commissions: These sales usually mean that I get all of the money, but there is a negotiation here with the client that must be satisfied before the sale is complete. I generally hate this kind of work, because I feel like it stifles my creativity, and there is always the possibility that the deal goes awry.
3. Teaching: This is also something I'm not comfortable with yet, but I do know that many artists make the majority of their income from teaching classes. This may take the form of art lessons, business tips, tutorial videos, or webinars. It is helpful to be viewed as a thought leader in our field, and becoming a teacher, or coach, can help to market the other parts of my art business as well. It can build community, and that is hugely impactful over time.
4. Online Sales: I know that other artists are able to sell their work online, though it has yet to work for me. We are living in an unprecedented age when a single artist has the ability to market to the entire planet virtually for free. Not developing a strategy for online sales would be a huge mistake, even if it means there are several false starts in creating a system that works.
5. Galleries: Being represented by a gallery gives a legitimacy to an artist, and collectors are often more likely to buy from someone they perceive to be an expert in the art market. And if that weren't enough, the galleries have lists of collectors that I don't have.

So there they are, the five revenue streams I hope to develop over the next 12 months as I work my way through the coaching program. The trick now is to develop the right strategies and steps to move me toward achieving success in each of these five areas.
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John Bishop Fine Art is an art business run by visual artist John Bishop. John is based in Houston and he and Bogdan Mihai, are owners of Buburuza Productions, LLC, and co-founders of the charity Aripa Arte. John is an abstract painter and illustrator, a blogger, a vlogger, podcaster, and creative writer. He maintains a studio at Silver Street Studios in Houston. John posts a weekly blog/vlog/podcast that creates a community, a conversation, between creatives in all sorts of fields at all sorts of levels.

John Bishop: http://www.johnbishopfineart.com

Bogdan Mihai: http://www.bogdanfotoart.com

Bogdan’s Instagram: https://www.instagram.com/bogdanoninstagram/

John’s Instagram: https://www.instagram.com/johnbishopfineart/

Twitter: https://twitter.com/JohnBishopart

Patreon: https://www.patreon.com/johnbishopfineart

Buburuza Productions: http://www.Buburuzaproductions.com

Aripa Arte Nonprofit: https://www.aripaarte.org