There are all kinds and ‘genres’ of business out there. However, some might be considered more similar to others. For example, a business that manufactures and supplies greetings cards for retail stores has something in common with the firm that also provides a much different product – perhaps timber, to retail lots. Both manufacture and supply a product, both have to conform to safety standards, both sell their products in bulk to businesses that will mark those products up and sell them to consumers.
But there are some businesses that are quite unique, such as those that rarely have much in common except with businesses in odd fields. For example, a restaurant might be considered one of these unique businesses. Their responsibilities are much more than simply selling products. They must care for the health of their customer, their dietary needs, perhaps their ability to imbibe alcohol responsibly or provide the setting conducive to a successful first date. It’s a textured approach they need for success.
The art gallery is perhaps one of the most interesting forms of unique business consideration. Let us consider both how it differs from conventional business wisdom – and also how those that are successful tend to operate. We hope those involved in this industry and scene can glean some value from the following advice:
Your Own Tastes
Perhaps one of the easiest comparisons to make when thinking of an art gallery is a car garage. Both rely on a smaller volume of sales but profit more when a sale is made. Both have expensive inventory on display around the environment and offer those ‘products’ to be seen up close before purchase. A client may come to visit once, twice or even ten times before they decide to purchase the thing they have their eye on, and it’s up to you to be patient and to try and court that business. However, someone running a car lot cannot differentiate between what cars they like and don’t. They go for the most functional, practical, saleable investment. They themselves might have tastes, such as disliking certain eco-cars or gas-guzzlers, but they cannot use that to tailor their inventory and curate it.
An art gallery is different. The owner of the business must consider what current tastes and trends are, and what can be sold. Their tastes are involved every single day. They may find the difference between one painting and another to be the relevancy, their perceived skill of the painter, the utility of such a painting (is it valuable for other reasons than how ‘nice’ it looks? All of this will be backed up by an in-depth knowledge and assessment of the painting, the artist, and the historical value it might contain. This means if hoping to run an art gallery, you should:
Become A Walking Encyclopedia
Owning an art gallery might seem like a comfortable position, but there is much effort that goes into it. Said owner must be well versed in art history, know local artists as well as the styles informed by the greats of history. They must know where to accurately date a painting or at least have connections in the industry for that kind of service. They must be able to remember these key facts about said artist or their piece when showing potentially clients around the gallery. They must also be an advocate for art, ensuring that those who visit know that this point of contact is an essential node of advice. You can have the best art in the world in your gallery, but if you are unable to express why, sell said art to those who are unaware, or are able to truly value something, you will either lose clients or become taken advantage of.
This means that if you wish to run an art gallery, you need to have a true passion for art and everything it contains. You need to be a critic as well as a salesman. You may even need to paint or create yourself in order to understand the artists you are dealing with. If you can achieve this, you become someone people wish to see, and raise your profile through the art world. On top of that, you also make the job that much more enjoyable.
Financial Protections
It is also essential to invest in the long term upkeep of your gallery. You may have a piece hung in your main hall that retails for over $25,000, which means your 30% commission might be worth waiting for despite not selling it for ten years. This also means that investing in restoration or special protections to protect your assets is essential. Quality security should also be considered a must, be that an alarm system, CCTV setup and the ability to serialize your collections to help the police should a theft occur.
Not only that, but you may decide only to allow those into your gallery who can prove they are there for a real appointment, not there to vandalize. It’s an extra step, but if dealing to those with wealth, this can be a positive effort to keep you both as safe as can be. Services such as Krywolt Commercial Insurance offer personalized and comprehensive packages for even unique business application such as art galleries.
On top of that, making shrewd investments is essential. You cannot simply think that armed with your knowledge, you will invest in the best art and the most expensive, impressive displays. It’s also important to consider buying trends, to note what will sell, to be able to sell said pieces, and to try and give more context to someone on the fence. For example, you might have a love for early renaissance period religious imagery, and yet if modern art is the hot ticket right now, you will have to comply with those norms, at least in part.
The Experience
The experience surrounding your art gallery is also essential to consider. Odds are, your gallery will not be bloated with people throughout the week. This means that for the perhaps five to ten visitors you get a day, you need to make that experience thorough and worth revisiting. Do not pressure people into sales. Allow the art to speak for itself, and provide further context if asked, or if you wish to lightly suggest it.
Great lighting, gentle music that relaxes and takes nothing from the art, a gentle and subtle lovely scent to your space, a natural flow of artwork on the walls that never looks cluttered, and stable, well-cleaned flooring is important. A few chairs or a bench here or there, in prime spots, can be wondrous. Perhaps a few books on art on tables could help someone waiting to leaf through and learn something. A visitors couch or interview room where you can talk to artists in a comfortable setting with fresh coffee might help them wish to go through you as the retailer.
Consider the client experience further. Get to know them. Offer them a cup of high-quality coffee, tea or even a glass of champagne if they come in to browse the artworks – ensuring that dividing ropes prevent said liquids from being spilled on your investments. Allow them to take all the time they need. On top of that, consider how you present yourself. This may be a relaxing space, but wearing a tracksuit (no matter how comfortable) does not suggest you are someone of authority – although a well-tailored suit might do this.
It might be that you hire one staff member to guide the audience around, but aside from that, many clerks are not needed. What is important is expertise. The ability to negotiate, to upsell, and to build long-lasting relationships with clients is essential as an art gallery. If you can do this, you’ll allow your clients to find safe hands whenever they come in.
Events
An art gallery is not like a conventional business in that it produces its product and then provides it to an end consumer. They may not sell anything for almost a month. On top of that, it is their duty to always try and get the right ‘type’ of client to visit them. Running high-quality events might help here, especially if you have an excellent space. You might put on poetry readings, art history lessons , or a range of other practical showcases you find exciting.
This can help remind those affluent clients that you are there, and that you are investing in the local culture rather than just profiting from your deals with artists. This can truly make the difference in the long term, and it’s what takes a good art gallery and makes it great in the long term.
To Summarize
It’s not hard to see how an art gallery can truly differ from conventional business wisdom. And yet with this advice, we hope your plans to run one can be as smooth as possible, and that you profit from your bold new direction.
