How to Start a Metal Art Business
This advice is perfect for aspiring entrepreneurs who are thinking about starting a metal art business. Read this before you open up shop.
Thinking about opening a metal art business? We tell you what you need to know to get started.
Entrepreneurial Careers in Metal Art
The field of metal art includes a variety of artistic renderings, signs and sculptures produced using metal as the primary medium. Unlike certain other categories of artists, artists who specialize in metal art have a number of entrepreneurial avenues at their disposal.
Some metal artists focus on selling sculptures to building owners and other interests. As a piece of fine art, the intention is that their work will enhance the aesthetics of courtyards, plazas, lobbies or other large areas. The problem is that the market for high-end metal art is extremely limited and is usually restricted to well-known players in the art world.
However, a more accessible (and reliable) line of work for metal art entrepreneurs is the creation of custom, functional art for personal or commercial use. These products can range from personalized metal signs to wall hangings or hat racks. The key is that the products have a functional purpose and have been created with an artistic flair.
Creating Sales Channels for a Metal Art Startup
The sales mechanisms for metal art entrepreneurs are somewhat different from a typical B2B or B2C retail operation. Although it's possible to sell your metal art creations from a retail space in a strip mall, the custom nature of the industry has resulted in a greater success through alternative sales channels.
- Online. A top quality business website is just as essential to your business as the welders, blowtorches and other equipment you use to create your masterpieces. If it's done right, your metal art startup's website will feature an attractive virtual portfolio of recent works as well as a mechanism for prospective clients to get in touch with your company.
- Festivals & Craft Shows. If your metal art business primarily sells small pieces of custom art for home use, consider leasing table space at festivals and craft shows. You can produce some generic pieces for sale at the event and leverage personal selling strategies to take orders for merchandise that can be customized back at your shop.
- Gallery Displays. If you're looking to make the transition to fine art sales, you'll need to create several works and secure gallery placements to increase your exposure. Ideally, the style of your gallery works will at least be reminiscent of your commercial pieces, giving you the ability to increase the demand for your products in both the retail and fine art arenas.
Elements of a Metal Art Company Business Plan
Every business plan is unique. However, the most effective business plans do address specific sound business plan elements:
- Mission Statement – Your description of your metal art business's reason for existing.
- Goals & Objectives – The end results of your company's business activities.
- Financial, Marketing & Action Plans – Specific plans that describe your business environment, demographic targets and quantitative estimates.
Don't Ignore the Competition
Before you open a metal art business within your community, it's essential to determine what the competition looks like. Use the link below to generate a list of competitors in your city. Simply enter your city, state and zip code to get a list of metal art businesses in your town.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
Once you've finished assessing the competion, the next step is to talk to somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. The last thing they want to do is help you to be a better competitor.
Thankfully, an owner of a a metal art business outside of your community may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. In that case, the business owner may be more than happy to discuss the industry with you. If you are persistent, you can find a business mentor who is willing to help you out.
So, what can you do to find a metal art business founder who is willing to talk to you but doesn't live nearby?
Here's one way to do it. Just use our link below, find somebody and call them.
Top Three Reasons to Buy an Established Metal Art Business
It's almost always preferable to buy a metal art business than to pursue a metal art business startup.
You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.
- Initial Revenue. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
- Operational Efficiency. When you're shopping for a metal art business, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Funding. Lenders, investors and other funding sources almost always prefer business purchases to startups.
Explore Franchising Options
Recognize that your chances of achieving your top business goals greatly improve when you choose to franchise and leverage their successful brand and track record.
Prior to making the decision to open a metal art business, you may want to determine whether franchising might alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
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