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Don't Dream It Home > The RIGHT BUSINESS Guides > Buying an Art Gallery
 

Buying an Art Gallery

Last updated: 7/14/2006
 
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European visitors to England used to marvel at the lack of museums and art galleries in our cities – and conclude that the British were simply not interested in art. It is hard to imagine tourists having the same reaction today.

Whether or not Damien Hirst and his shark are responsible for the massive increase in interest in art and culture over the past decade, it’s undeniable that the number of art galleries in the UK has boomed.

In Manchester alone, there are now 16 independent art galleries – compared to only a handful 20 years ago.

And in towns such as St Ives in Cornwall, the streets are dominated by small shops-cum-galleries that have grown up around the Tate Gallery and the arts scene that has flourished there since the 1960s.

GALLERY INDUSTRY IS GROWING

Most galleries have grown up around groups of artists, who usually met at college and subsequently set up a collective to sell their creations.

Online galleries growing in popularity

But, thanks to the internet, increasingly those connections are virtual – websites like ZeroOneArt.com and the charmingly named Artshole.com provide “shop windows” for aspiring or established artists.

ZeroOneArt says that it offers a “fine range of independent artists advertising their own artworks for sale”, as well as “original art and reproduction prints which are available to buy directly, and securely, from the artists themselves”.

Artshole, on the other hand, has a less blatantly commercial niche but is backed up by a non-virtual gallery on London’s Brick Lane – demonstrating that visual or tactile goods have not transferred as perfectly to the online world as some commodities.

Galleries aimed at the younger market tend to congregate in areas such as Brick Lane, or Birmingham’s Custard Factory, where rents are cheaper and there is a ready 'community' of like-minded people to browse your goods.

More 'mainstream' artists, or those looking at selling commercial art, might be best suited to off-the-beaten-track market towns or quieter tourist resorts.

However, once either becomes an established art Mecca, costs shoot up – meaning that it might make more sense to look at even more marginal areas. In former industrial towns, for example, it is possible to find premises at bargain basement prices.

Selling art does not necessarily produce vast profits, particularly when the cost of materials, overheads and extras such as frames and transport costs are taken into account.

Niche and variety – strengths and weaknesses

In tourist areas, the seasonal nature of trade can be a problem; and getting precisely the right type of material for your potential customer base is more problematic than in other sectors, purely because they are so many niches and tastes compared to selling more mundane items.

Will Kemp, of Benny Browne & Co in Stoke-on-Trent, says that the lack of competition and low rents meant getting established was far easier than in bigger nearby cities such as Birmingham or Manchester.

He says: “It’s easy to feel intimidated if swanky, plush galleries surround you.

“A certain 'status anxiety' creeps in, which is really counter-productive. I think it's liberating, living and working in a fresh and more open-minded area.

“Up here, you can be true to yourself and can concentrate on your own vision rather than on what supposedly better or trendier thing is happening down the road.”

He has three key pointers for aspiring gallery owners.

“First, make sure you have the capital and then the income to realise your dream. Second, make sure that the type and quality of art you want to show is actually being made and is available to you.

“Third, don't expect people to be banging on your door every day. Some days you see no one, some days it's busy. If you have a few slow days, don't let that get you down.”

Not just a gallery

Benny Browne & Co have other sources of income besides the gallery – they carry out design work, bespoke commissions, and limited edition prints as well as hiring out the studio space to their freelance clients.

Other, similar galleries sell clothing or have a sideline in graphic design in order to ensure the books balance at the end of the month.

For more purely creative portals, it’s worth bearing in mind that being in the art sector means you can apply for a host of grants and awards – most notably from the Arts Council and the National Lottery.

Increasingly, city councils see art as key to regenerating run-down areas, so it’s also possible to get involved in a host of well-funded initiatives aimed at providing cheap space for creative industries.

While this type of funding may not last for ever – and is by no means certain in the first place – it can be vital in bridging the gap between getting started and making a profit.

But failing that, drawing up a business plan and approaching a friendly bank manager is as essential as ever.

Running a successful art gallery requires a lot of hard work, determination and luck, and sometimes for very little financial reward – very much like being an independent artist.

As both disposable incomes and interest in art shoot up, there is now more room for the entrepreneurial gallery owner than ever before.



 

 
ART GALLERIES FOR SALE

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ART GALLERIES AT A GLANCE
  • Interest in the arts in Britain has boomed over the past decade, and independent arts galleries have sprung up everywhere.
  • Most galleries have grown up around groups of artists, although some have started as purely commercial affairs.
  • Internet-only galleries are spreading, but can be less convenient than conventional spaces.
  • Areas with cheaper rents or “regenerating” urban areas are popular with art galleries.
  • Art gallery margins are often low, so it’s important to get the products right.
  • Many owners carry out other commissions and part-time work as well as running the gallery.
  • Draw up a business plan to show to potential investors.
  • Examine the grants available through the National Lottery and bodies such as the Arts Council.
 
USEFUL LINKS

Fine Art Trade Guild >>

 
USEFUL INFORMATION

The Arts Council
14 Great Peter Street
London
SW1P 3NQ
Email >>
Website >>

 
 
 
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