Kelly's Question of the Week
\\ How do you find time to balance the financial side of the business? //
Financing is the least exciting part of running a creative business! We understand! We’ve asked our artists how they manage the business side - apps, personal financing, and guidance.
Piya Samant says, “I don't have a specific app for finance but I do maintain several lists and spreadsheets. I believe in redundancy when storing financial information. Also, payments accepted through PayPal and Venmo are thankfully all stored in those apps.”
Selling framed or unframed?
I once worked for a gallery that provided different framing options. Of course, this gallery was a bit more established and bought their frames in bulk. The artist was a bit more conservative and traditional, which resulted in many young people asking for unframed pieces because the frames didn’t match their lifestyle and decor.
As an artist myself, I tend to sell unframed pieces because it’s less of a hassle and the customer has the luxury of picking out their own frame. However, this can be more costly for the customer, depending on where they go. As a business owner, I’d like my customers to save the money and hassle when they can just purchase through me. This completely depends on you and your business.
Perhaps you don’t make enough income to buy a bulk supply of frames, and that’s okay.
Piya says, “I was advised to sell unframed art when I started selling, but after doing this for a few years, I realized that if I made my own cost effective frames for the larger pieces and sold the smaller pieces unframed and on stretched canvas, they tend to sell faster. Custom framing larger pieces is expensive for the average collector so that may be the reasoning behind it.”
Another way of going about this is staying in contact with your collector about frames. If they wish the piece is framed, browse through different frames with them and adjust the price accordingly. That way you’re working together so that the frame matches the decor of the collector and they can go home happy and satisfied.
Tell us in the comments — how do you balance the financial side of the business? Do you provide frames to your clients? We’d love to learn more!