Thursday, December 10, 2009

Business Plans for Artists: The dollar sense reality check

 Whatever money you foresee yourself making from your art, and by “making” I mean money you will actually have in your bank account at the end of the year, you’ll actually need to multiply that amount by 2 in order to figure your actual income.

To make $50,000 this year as an artist, you will need to sell over $100,000 worth of your art. to make $30,000, you’ll need to sell over $60,000 worth of your art.

Why?  After you give 20% to Uncle Sam, you’ll still have all the other costs associated with your art to contend with: space rental, supplies, travel expenses, promotion, etc. no matter how you calculate the equation, making a decent living with you art will require an investment of time and money as well as a focused plan to do so. 

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