In this article, we want to talk about How to Start an Art Gallery . Join us .
Art galleries provide local artists an opportunity to gain exposure and profit from their work. While the primary goal from a business standpoint is to make profit based on art sales and special events, providing a vibrant art scene can help create a more vibrant community. Customers for an art gallery‘s work typically include collectors, investors, decorators, and private companies.
Start an art gallery by following these 10 steps:
- Plan your Art Gallery
- Form your Art Gallery into a Legal Entity
- Register your Art Gallery for Taxes
- Open a Business Bank Account & Credit Card
- Set up Accounting for your Art Gallery
- Get the Necessary Permits & Licenses for your Art Gallery
- Get Art Gallery Insurance
- Define your Art Gallery Brand
- Create your Art Gallery Website
- Set up your Business Phone System
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your art gallery. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
- How much can you charge customers?
- What will you name your business?
Luckily we have done a lot of this research for you.
STEP 2: Form a legal entity
The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation.
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Make LLC accounting easy with our LLC Expenses Cheat Sheet.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
STEP 7: Get business insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully.
Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
STEP 9: Create your business website
After defining your brand and creating your logo the next step is to create a website for your business.
STEP 10: Set up your business phone system
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private.
