Artistic Entrepreneurship: Creating Multiple Income Streams
It can be difficult to balance making a living in the art world with pursuing your artistic interests. An approach that has gained popularity recently is artistic entrepreneurship, which involves actively participating in business ventures to generate different revenue streams. This method offers a way to a more financially secure and satisfying artistic career, challenging the cliché of the struggling artist. In my classes, I like to chat about this and how to diversify your income streams to help one make a living off art.
Diversifying your revenue streams is an important aspect of artistic entrepreneurship, in addition to selling your artwork. It can be tricky to sell your art, but you may be able to do this on a variety of offline and online sites. While local galleries and events provide you a more direct connection to your neighborhood, online marketplaces and social media platforms let you reach a worldwide audience. You also have the option of looking into print-on-demand services in addition to selling your original artwork. You can upload your designs to these sites to be printed on a range of products, including stationery, jewelry, home decor, clothes, posters, and accessories. This helps your work appeal to a wide selection of tastes and preferences by presenting your art on a range of products, all while growing your consumer base.
The procedure is simple if print-on-demand is new to you. Select a reputable print-on-demand provider first, such as Printify or Printful. After that, upload your artwork to their site and make the necessary product customizations (fret not, this may take some time—that’s ok! Take your time and adjust it accordingly). The print-on-demand company handles all printing, packaging, and shipping when a consumer puts an order, freeing you up to concentrate on your artwork. Before jumping in, it's critical to investigate and evaluate several print-on-demand services to find the greatest fit for what you need. A few of my art friends and I like to share our experiences with each and as well to work with each other as “testers” to the process-to see how it works (and as well to see how the products look and to see how the shipping experience is for the consumer—practice/test sessions are super handy for this stage!). Begin with a small selection of things that you are excited about, and then expand your product offerings as you develop experience and practice. I typically like to start my product tests with stickers, as it’s a low barrier of entry. From there, I like to test t-shirts and (whichever company I’m testing) posters and giclee prints. While print-on-demand has many benefits, there are a few downsides to consider. Profit margins, for example, may be constrained by production costs, and quality control varies depending on the source. Competition is stiff, so standing out requires a distinct artistic style as well as smart marketing methods.
In addition to print-on-demand, you can look into additional business alternatives like teaching art classes or workshops, providing commission-based services, or earning passive income through online courses, subscription services, or investments. Collaborations and partnerships with other artists or businesses can also help you create additional revenue and broaden your reach.
Finally, artistic entrepreneurship is about taking charge of your art career and discovering new ways to fund your creative practices. You may develop a long-term and rewarding career as an artist by diversifying your income streams, embracing digital technology, and fostering collaboration. Stay resilient and experimental, and your artistic journey will thrive, making an indelible mark on both your life and the art world around you.
So what all could you make with print-on-demand?
Prints and Posters: Selling art prints and posters is a common option for artists. High-quality reproductions of your artwork can be printed on various types of paper or canvas, allowing your customers to hang your masterpieces on their walls.
Apparel: Print-on-demand services allow you to have your artwork printed on a variety of fashion products such as T-shirts, sweatshirts, leggings, and even gowns. This allows your clients to wear your artwork while expressing their individual style. Sites like Spoonflower will even print your repeat patterns on fabric, which can be a lot of fun.
Home Goods: You may turn your work into utilitarian home décor products such as throw pillows and blankets, as well as mugs and coasters. These items are not only visually stunning but also functional, making them popular selections for customers wishing to add a creative touch to their living environments. My students and I have enjoyed sites like Society6 and RedBubble for this.
Accessories: Print on demand allows you to make accessories like phone cases, tote bags, laptop sleeves, and even face masks. These things let your customers to take your artwork with them wherever they go, demonstrating their appreciation for your work. Printful and Printify can be a good place to start for exploring these products (and they link directly to etsy and also your online shop on your website if you use platforms like Squarespace and Wix).
Stationery: Personalised stationery like as notebooks, greeting cards, and calendars are ideal for print on demand. Your artwork can be used to decorate the covers of these objects, bringing a creative twist to everyday use.
Jewelry: Some print-on-demand services even let you to design your own jewelry, such as necklaces, earrings, and bracelets. You can give unique and wearable art pieces to your consumers by combining your art into jewelry creations.
If you've never used print on demand before, the process is rather simple. First, you must select a reputable print-on-demand service. Printful, Printify, and Society6 are popular platforms with user-friendly interfaces that combine effortlessly with many e-commerce platforms. After you've decided on a supplier, upload your artwork to their platform. Most providers allow you to preview how your design will look on various products, allowing you to alter the location and size to your liking. You can choose the retail price for each product, guaranteeing that you obtain a profit margin beyond the print-on-demand service's base cost. When a customer puts an order, the print-on-demand provider takes care of the printing, packaging, and shipping. They deduct the manufacturing costs and fees from the sale price, and you keep the difference. This hassle-free strategy allows you to concentrate on making art while the supplier handles the practicalities.
Before you begin, you should conduct research and compare different print-on-demand services to see which one best matches your needs in terms of product offerings, quality, cost, and shipping options. Starting small with a few things you care about will help you get a feel for the process. As your knowledge and confidence grow, you will be able to widen your product offering and reach a bigger audience, making your art into profitable and accessible things for art enthusiasts all over the world. Print-on-demand services provide artists like you a convenient way to sell your artwork and reach a larger audience, but they have both advantages and disadvantages. Here are some benefits and drawbacks to consider as you research this choice.
Some Pros
Convenience and accessibility: Print on demand allows you to sell a wide range of products without the requirement for inventory or storage space. You may sell your artwork on a variety of goods, making it available to a wide range of buyers without the trouble of managing actual inventory.
Low Initial investment: Unlike traditional manufacturing, print on demand does not necessitate a large initial expenditure. You don't have to buy large quantities of products or resources, which reduces financial risk and allows you to start your firm with little money.
No Shipping Hassles: Print-on-demand services manage all aspects of printing, packaging, and shipping for you. This saves you time and effort by eliminating the need to deal with shipment logistics. It also allows you to sell globally without having to worry about foreign shipping costs or customs laws.
Diverse Product Offering: Print on demand provides a diverse product offering, ranging from fashion and home décor to accessories and stationery. This variety enables you to adapt to various customer demands and easily increase your product line.
Passive Income: Once your designs and goods are uploaded and published, they can be sold frequently without your active participation. This type of passive income allows you to generate money while focusing on your art or other creative hobbies.
Some Cons (there’s always some…so it’s up to us to weigh between them!)
Limited Profit Margins: Print-on-demand services charge a base production cost, which reduces your profit margins. To ensure profitability while maintaining competitive pricing, you must carefully balance the retail price with the production cost, which might occasionally limit your earnings per sale.
Quality Control: The final product's quality is heavily influenced by the print-on-demand vendor you select. Variations in print quality, color accuracy, and material durability are possible, potentially leading to consumer unhappiness. It is critical to conduct research and testing on several providers to ensure consistent quality.
Limited customization: While print-on-demand services allow for customisation, they frequently limit printing techniques and positioning. Designs that are complex or extremely detailed may not translate well onto specific objects, limiting your creative freedom.
Competition: Because the print-on-demand sector is so easy to enter, there is fierce rivalry. To stand out in a sea of artists and designers, you must have a distinct artistic style, excellent marketing, and a thorough understanding of your target audience. Finding your specialization and developing a distinct brand can assist you in overcoming this difficulty.
Dependence on Third Parties: When using print-on-demand services, you rely on their dependability and efficiency. Production delays, misprints, and shipping problems can all have an impact on your customers' experience and your reputation as an artist. These hazards can be reduced by using trustworthy and established services.
When weighing the benefits and drawbacks of print-on-demand services, it is critical to evaluate both sides. By selecting the correct source, efficiently setting rates, and constantly refining your designs and marketing techniques, you may convert your art into a profitable business. As part of your entrepreneurial activities, you could consider providing art-related services such as teaching seminars or workshops, both in person and online. Providing commission-based services, such as making custom artworks for particular clients, not only boosts your income but also fosters true ties with your audience, resulting in a devoted customer base.
As an artistic entrepreneur, embracing digital technologies provides new prospects for generating revenue. A well-designed website and active social media profiles can function as virtual galleries, drawing potential clients, collaborators, and buyers. Update these channels on a regular basis with new artworks, behind-the-scenes content, and insights into your creative process to keep your audience interested. Sharing personal tales about your art and creative path creates a stronger connection with your audience, boosting the likelihood that they will support your work.
As an artist, creating passive income requires strategic planning as well as creative use of your artistic skills and assets. Exploring digital products like digital art prints, tutorials, and design templates can turn into a profitable venture. Selling these goods online using platforms such as Etsy or Gumroad helps you to generate money passively because once developed and uploaded, they may be sold multiple times with little active involvement. I like to call this stage the “not so passive passive income” as it does take a fair amount of work in the beginning to set up and develop. However, once it’s set up and ready to sell, it can turn into an evergreen product for you and your passive income development.
Another approach to earn passive revenue is to license your artwork. Companies can license your designs for usage in a variety of products, including clothes, stationery, and home decor, and you will receive royalties each time your artwork is used (ex: check out Surtex…this is a convention designed to connect designers, etc to connect with retailers). Another important aspect is design/art protection. To secure a constant income stream, safeguard your intellectual property rights and work with trusted licensing partners (check with the standards for this set forth by your country). Licensing your art may be a profitable endeavor, providing additional streams of passive income and broadening your artistic reach.
So how do you get started with licensing?
First, work on creating a portfolio that exhibits your artwork. Create a variety of pieces that showcase your distinct style and expertise. A well-curated portfolio not only entices potential licensees, but also reflects your commitment to your art. Once your portfolio is complete, look into potential licensing partners in your industry. Look for businesses that support your artistic vision and ideals. Consider approaching smaller, local enterprises or independent producers who may be more willing to collaborate with emerging artists.
Create a professional licensing portfolio with high-quality photos of your artwork and a brief creative statement for each item. When approaching potential licensees, tailor your pitch to showcase what distinguishes your art and how it may benefit their products. Attend trade exhibits, art fairs, and industry events to meet potential licensees and present your portfolio in person.
Register your artwork with the authorized copyright authorities to safeguard your intellectual property rights. To protect your creative work and make sure you understand the legal ramifications of licensing, think about speaking with a legal expert. Strive to establish lasting relationships with licensees while remaining adaptable and willing to discuss arrangements. When beginning the licensing procedure, exercise patience and persistence. It requires time and effort to establish contacts and close deals. Make use of social media, trade events, and online channels to expand your reach and establish connections with possible licensees. You're getting closer to obtaining valuable license agreements with each connection.
Consider diversifying your revenue streams by developing and monetizing online courses or tutorials. You can also consider using membership websites or subscription services to provide exclusive content to your fans and supporters. As an artistpreneur, you may build a sustainable and fulfilling profession by using your creativity and experience. Collaborate with other artists, corporations, or organizations to broaden your reach and influence. Utilize modern technology and remain open to new prospects for progress. Stay true to your individual artistic vision and concentrate on making striking art that speaks to your audience. With effort and determination, you may establish a successful career as a creative entrepreneur and make an indelible mark on the art world.
