Is a Market Store or a Retail Shop the best option for your Art Business?

You’re a talented artist. You’ve spent years amassing quantities of your work and now you want to start an art business selling your wares. And you want to be successful. Everybody wants to be able to make a living doing what they love. And what better way to do what you love and make the money you need to live comfortably than to sell your art.

So where do you start?

You could travel the path of many and set up a stall at many of the artist markets dotted around the cities of the world; you could sell your art via the internet, whether it be your own website or on another like Etsy. Or you could open a retail shop in your local High St.
To give you something to think about and hopefully help you make a decision as to what path you want to travel, we have created a list of the pros and cons involved in a market stall operation and having a shop front dedicated to the sale of your wares. This is just a brief overview to get you thinking. (We also wrote a previous article back in December 2010 on issues with a lease.)

What are the Pros of a Market Store?

1. Markets are often a fun way to meet people and test out your art products. You might think that your felt dinosaurs are a hoot but it’s only when you take it to the real world that you can properly gauge the reaction of a cross section of the population.

2. An Artist’s Market attracts people looking for creative pieces. So you’ve got your target market at your finger tips. Often, artists markets are set up in tourist precincts and we all know we spend more when we’re on holidays!

3. There’s not the major overheads like rent, amenities, wages of a normal store.

4. Networking opportunities with like-minded people.

5. Markets are on weekends when potential buyers are relaxed and enjoying their outing with the family so the likelihood of selling something unique/beautiful/quirky is going to be much higher.

6. Running a market store is good fun (as long as it’s not every week- then it’s a job).

What are the Cons of a Market Stall?

1. There is a lot of competition in a market place as there will be many people selling their creative wares. You may also find at an Artists market, other stall holders may have something similar which will make competition even higher.

2. Often with higher priced articles (like paintings) people aren’t prepared to pay hundreds of dollars at a market. I tend to find items up to $30 sell well, but over that people tend to go away to think about it and often never return.

3. Carting around your product every week, setting up and packing up after every day.

4. Inclement weather- you’re stuck in it and it can drive customers away.

5. People might love what you do but not have the money on them that day but don’t have a contact point to purchase down the track. Always have a business card at the ready!

The Pros of a Retail Shop

1. You can spend time setting up your shop exactly as you want it, have elaborate props and extensive collections. The only limit is the size of your shop, not the size of your car.

2. A shop can be open as much as seven days a week as opposed to one or two days at a market. This gives you more selling potential and also a point of contact for people that browsed your goods previously and now want to come back and buy.

3. Depending on the size of shop you might have space for a work shop so you can work on your products during business hours. This could also be a selling point as customers could view your work being done. It could also encourage some custom making.

4. Keeps the clutter out of your home as pre-made works can be housed at the shop as well as tools.

5. With a current stagnant economy the world over shop rents have never been cheaper. You may be able to rent a store with a month by month lease. You couldn’t do that pre-2008!

Bob Boutique Bendigo- A perfect Example of an Art & Craft Shop run by someone that loves what they do. They've been in business since 2004 too!

The Cons of a Retail Shop

1. Major overheads. Rent, rates, amenities, wages etc.

2. The store will need to be manned at least 5 days a week. Does that leave anytime for you to actually work on your art? Are you prepared to hire staff?

3. An arty shop in a shopping strip may not get many cold sales from walk by traffic as they are not expecting this kind of shop. You may need to advertise heavily to attract your target market.

4. The cost of the fit out could be prohibitively expensive. Some landlords (especially shopping centers) will insist on an expensive fit-out.

5. You will need to be a salesman first and an artist second. With overheads from a shop you need to sell large quantities of your work to make it viable. The benefits are there if you can sell but it is a big risk.

Unlike Ned, Do your Market Research- Copyright Fox Studios

My Personal View:

As someone that spent their formative years manning market stalls selling anything from antique books and maps (with my Grandfather) to popcorn (with my uncle), and then committing the next 15 years to working in an Art Gallery, I can see both the benefits and negatives of both sides of the equation.

Your decision is ultimately dependant on your situation, what you are selling, the resources behind you, and your skill as a business person as to what you decide. But here are a few suggestions:

• Market Stalls are the best place for market research. Peruse a few in different areas and at different times of the year to find out what sells, what doesn’t, what excites people, and the right pricing point for your art products.

• Set up a small website within a larger website (think Etsy, eBay, or Fine Art America etc). This will further help gauge the market and what people like.

• If things are progressing well contact a creative web designer like me to design you a great website to sell your work. *blatant plug*

• If you are seriously considering a store why not pool your resources with other like minded people to create an artist run initiative. This way costs are shared as are hours manning the retail shop.

• Before signing up to any retail lease, please contact your local government small business agency and get some top quality advice. Most government’s have a small business department with some rock solid books, manuals, and workshops free of charge.

Here’s some links to some great government agencies. Whilst some of these websites might not be in your local area (or country for that matter), many have great advice that is just as useful in the US as it is in Australia.