As a mixed media artist I have a varied range of work, using ceramic, paint and print. I have thought about my business model and how it can be unique to myself and stay true to my brand and how authentic I want it to be. Because I also love photography it is relevant that I incorporate my photographic skills in how I produce my artistic creations. It also takes away an issue of copyright as I am the photographer and own the reference image.
My business model is based from photograph to finished piece. The idea is that for my more basic pieces I use photographs from my own library of images. However, for my more bespoke commissioned pieces I will spend some time with the owner and their horse, taking photographs for reference and then using these to form my final piece. This way I get to understand the horse and its personality, how it interacts with it’s owner and hopefully capture some candid moments that can be incorporated into my final piece. it will help me with the emotions I like to convey in my work.
My initial idea on sales prices for my products are:
Lino Prints A4 £10 (unframed)
Lino Prints A4 £20 (Framed)
Ceramic Lino Relief Slabs A5 £35
Sculpture Horse Head 12cm £80
Paintings A4 £80
Paintings A3 £120
Paintings A2 £180
Bespoke Commissions Price on Application £75 deposit fee which covers the photoshoot for reference images.
As previously mentioned, I already have other part time income that covers my share of our household expenses per month. My income is already taxed and takes up my tax free allowance so any income from my art business will be taxed at 20%. NIC on profits less than £6,725 will be paid voluntary Class 2 @ £3.45 per week profits between £12,750 and £50,720 will pay Class 4 NIC at 6%. I also have a student loan to repay and this will be approximately £360 per year and this will also come out of my other income so isn’t factored into my Artist Income and Expenditure.
Year 1 Sales per month by product
Horse Head Lino Relief Slab Lino Print Unframed Painting based on A3
1 x £80 1 x £35 2 x £10 = £20 1 x £120
Total Ceramic Sales £115.00 Total Print and Painting Sales £140
£255.00 Total projected Sales per month in year 1
Direct Costs Ceramics Total £92.00
- Expenses Clay £38.00
- Kiln Hires 2 per month £24.00 based on price lists for hiring kiln space per https://www.kilnshare.com
- Oxides, slips & Glazes £30.00
Other Mediums Direct Costs £137.75
- consumables = paints & inks £42.75
- Use of Printworks Facilities 2 x pm £50.00
- Papers £45.00
I have not factored in my labour cost recovery, simply because I want my art to be affordable and to sell, and also because I have other income that covers my household bills. If I were to cover my labour costs it would make some of the smaller pieces a lot more expensive and harder to sell. It is a very difficult thing to balance when just starting an enterprise. In my experience it is about 18 months before you really start to break even.
With regards to capital expenditure I have gone for the option to hire facilities as with the time I have available to create artwork, initially I will not be producing enough to make the minimum number of sales to warrant investing in my own kiln or intaglio printbed.
- Bath Potters Kiln Rhode Ecotop 60 kiln £3244.15 inc vat
- Clay Slab Roller Gladstone 3ft Slab roller £1800 inc vat
- Printing Press Handprinted.co.uk ABIG Printing Press with geared Plate 50×90 £2,700 inc vat
With my predicted sales, keeping level of productivity the same as year 1, it won’t be until year 4 that i could consider purchasing any capital equipment outright and if I’m able to hire kiln space and printing facilities it actually make more business sense to continue doing so.
These are very simple projections and costings of my cash flow, I have more detailed spreadsheets with it all worked out and a 5 year plan. I will review these budget predictions every year, it will be nice to see how far off the mark I am and what happens when I get my website and online shop up and running.
Helen Louise Art 