Do you want to start an art supplies store? If yes, you are in the right place. Here in this article, you will find all the steps to follow to start an art supplies store business including costs, licenses, store setup, sourcing supplies, and more.
If you have a passion for art and creativity, starting an art supplies store can be an ideal venture. It is without saying, giving artists the resources they require to realize their ideas is a fulfilling way to give back to the artistic community.
Here are the 10 Steps to Start an Art Supply Store
1. Market Research
Conduct thorough market research on the local art supplies market. It will help you to understand the local demand, competition, and customer preferences. Additionally, identify the target audience, such as professional artists, hobbyists, students, or art schools.
2. Select a Business Model
Apart from only an art supplies store, you can establish an innovative art supplies lounge with a bigger establishment. Yes, this needs more investment and management capabilities to run the show smoothly.
An art supplies lounge includes art and craft supplies, a gallery, an education center, and sitting arrangements with coffee and snacks.
It is rather like an art creative community center where no artists are left behind. Providing this type of pleasant facility will definitely inspire and support amateurs, professionals, and crafty people in the art community. From this business platform, you can also facilitate art shows, competitions, and so many other community events.
Running and operating this store by art practicing professionals will give value addition.
Creating a shopping environment that needs artists by offering knowledgeable and professional service is the key area to getting success in this business. As you will be purchasing bulk materials, you will be gaining more profit margin also.
3. Write an Art Supplies Store Business Plan
Creating a detailed business plan is important even if it is a small retail store. Some of the essential components your business plan document must include are as follows:
- Initial and recurring costs
- Ptarget customers
- Pricing strategy
- How do you plan to sell your art items?
Furthermore, you will need to determine the store carpet area, stock of inventory, manpower, store establishment, and marketing strategy. Determining a niche is important for any type of retail business. Whether your stocks will be for students only or you will keep supplies for professional artists also. Calculate your startup budget.
You will need to arrange finance accordingly. If you are initiating the business by hiring a retail space, check the rent agreement carefully before signing.
4. License for Art Supplies Store
In starting art supplies store business, registering the business with authority is the first priority. According to the size and scale of the company, you will need to decide on the type of business structure. It can be a sole proprietorship, partnership, or LLC.
Read: How to Start an LLC
Different states provide different types of licenses and permissions to retail stores. It is advisable to check with a small business consultant regarding this.
Choose a catchy artistic name for your business and protect it through Trade Mark Registration.
5. Calculate the Cost of Starting an Art Supply Store
The investment in starting an art store will include, space rent, stocks and inventories, license fees, manpower, and legal costs.
The cost of starting an art supply store on a small scale will cost in the range of $20,000 to $30,000 depending on the scale of operation. However, the profit margin is much higher compared to other businesses.
6. Select a Location & Store Layout
In establishing an art supplies store location is an important factor. It is advisable to select a strategic location with high foot traffic and proximity to art schools, studios, or creative communities. You can also consider a high-traffic shop-in-shop proposition also.
Design an inviting and organized store layout that showcases your products attractively. Create dedicated sections for different art mediums like painting, drawing, sculpting, etc. It makes good sense to focus your creative energies on what the signage and storefront look like. Make the store ambiance inviting and comfortable. This will keep your customers around as long as possible.
It is advised to consult with an interior professional in crafting the floor plan. Do remember, the storefront is the first thing the customer sees before entering your store.
7. Suppliers and Inventory Management
Purchasing the right inventory at the right price is one of the most crucial factors. Establish relationships with reliable art supplies wholesalers and manufacturers. Ensure a steady supply of quality products at competitive prices. In the initial phase, you can keep a mixed inventory with the popular brand and non-popular local brands.
You need to maintain a diverse inventory of art materials, including paints, brushes, canvases, sketchbooks, and other essentials. The inventories in your shop should extend far beyond general art supplies, catering to all types of creative outlets. In addition to specialized items such as crafting and printmaking supplies also.
8. Set up Business Accounting
It is extremely important to set up proper accounting processes for the smooth functioning of financial transactions and also to help you in filing taxes. Choose the proper accounting software that fits your need.
9. Art Supplies Store Staffing
As I have discussed earlier, keeping an employee who has knowledge about art is a plus. It is essential at least they have flair ideas about the applications of the supplies. How employees relate to customers is an important factor in retail sales. The confidence to make eye contact and strike up a conversation with strangers is absolutely essential. Your employees should focus on providing excellent customer service and engaging with customers to build lasting relationships.
10. Promote Your Art Supplies Store
In this era of the internet, you can’t afford to lose online customers. Promote your business offline and online. Do some outdoor advertising activities and media publications. Publishing advertisements in art magazines is an effective one. Concentrate on in-shop branding also.
Create your own website. Create info-based content. Register with an online marketplace like amazon.com. Offering multiple varieties of products with a free shipping option will definitely help you in getting more sales revenue from your art supplies store.
Where Can You Buy Art Supplies Online?
You can buy art supplies online from various reputable websites that offer a wide range of products to cater to artists of all levels. Here are some popular online platforms where you can purchase art supplies:
a) Amazon
Amazon is a well-known e-commerce platform that offers a vast selection of art materials, ranging from paints, brushes, canvases, sketchbooks, and more. You can find products from various brands and compare prices to get the best deals.
b) Dick Blick Art Materials
Dick Blick is a popular online art supply store that has been serving artists for many years. They offer an extensive range of art supplies, including high-quality paints, drawing materials, and other essentials.
c) Jerry’s Artarama
Jerry’s Artarama is another well-established online art supply store with a wide selection of products for artists. They often have special promotions and discounts for art materials.
d) Utrecht Art Supplies
Utrecht is known for its high-quality art supplies and offers a great online shopping experience. They have a wide array of art materials suitable for both beginners and professionals.
e) Michaels
Michaels is a renowned arts and crafts store with an extensive online presence. They offer a broad range of art supplies, home decor, and DIY materials.
f) Lionel Gallery
Lionel Gallery is an Indian-based online art supply store that offers a variety of art materials, including paints, brushes, drawing tools, and more.
g) Hobby Lobby
Hobby Lobby is another popular arts and crafts store that offers online shopping. They have a dedicated section for art supplies with a wide selection to choose from.
h) Jackson’s Art Supplies
Jackson’s is a UK-based online art supply store that ships internationally. They offer a diverse range of art materials and often provide discounts and deals.
i) Artist & Craftsman Supply
Artist & Craftsman Supply offers a wide range of art materials, including eco-friendly options. They have both physical stores and an online platform for purchasing art supplies.
j) Blick Art Materials
Blick Art Materials is a reputable art supply store with an extensive online presence. They offer a vast selection of art materials and provide resources for artists.
When purchasing art supplies online, it is essential to read customer reviews and check product descriptions to ensure you’re getting the right materials for your artistic needs. Additionally, be mindful of shipping costs and delivery times to plan your purchases accordingly.
Frequently Asked Questions
What makes a successful art supplies store?
A successful art supplies store offers a wide range of high-quality products, provides excellent customer service, and fosters a creative and inspiring environment.
How do I attract customers to my art supplies store?
Use social media marketing, collaborations with local artists, and in-store promotions to attract customers. Offer unique products and create a welcoming ambiance.
How can I stay updated with the latest art trends and products?
Attend art trade shows, read industry publications, and stay connected with art communities to stay updated with the latest trends and products.
Can I sell online in addition to a physical store?
Yes, having an online presence can significantly expand your reach and allow you to serve customers beyond your physical location.
Should I focus on specific art niches or offer a broad range of products?
This depends on your target audience and the competition in your area. Consider catering to specific niches while offering a diverse selection of products.
Editorial Team at 99BusinessIdeas is a team of experts led by Rupak Chakrabarty with over 25 years of experience in starting and running small businesses. Started in 2010, 99BusinessIdeas is now one of the largest free small business resources in the industry.