The beauty of grants

The art community thrives, not just because people love art, but because our local governments and business want to see artists thrive as well. That is why many companies issue grants to local artists to help them create beautiful pieces that will be shared by the community. These can range from a few hundred dollars to thousands of dollars. The question is: how can you and your business benefit from these grants.  First things first, you need to seek them out. Depending on where you are the number of grants available to you may vary.  Cities, especially cities that are epicenters for art and culture, are going to have more of these opportunities than rural communities. That doesn’t mean that rural communities don’t have grants available to them, and, since the pool of artists in rural communities is lower there is less competition for being accepted.

You can search for grants through a number of different sources. Art councils for your area will likely have a running list of current and future grants that are available.  Pay attention to what district they are available in. Often times these grants will be available to multiple counties or regions so you may be eligible for a grant in a neighboring area if you are within the applicable district. Check your city’s website as well as they will often list the government funded grants that are available to you. Put in for as many as you can but read the rules: sometimes there are limitations to when, and how frequently, you can apply for them.

Sell yourself

Be prepared: when you submit a proposal for a grant they are going to want to know about you, your art, and how you are going to use the grant money. Think about this and be prepared to answer in a way that shows you are community focused. Remember, the purpose of these grants aren’t necessarily for you to grow your business, but are so that you can help grow the community as a whole. Think about how you would use the money to offset the costs of your project: pay for materials, cover registration fees, travel expenses, and, of course, you need to pay yourself for your time.

There are some grants that are offered as “no strings attached” where they will tell you you can do whatever you want with the money but most, especially those that are offering larger sums of money, want to make sure that the money is going to good use. Be honest with your costs, think about what is a fair rate to pay yourself for your time, and plan to use the money to fund projects that are reflective of the money you are being offered. This doesn’t just mean not to oversell your work, but also not to undersell the work. If the grant is for $1,000 don’t use that to fund a month long endeavor that is going to cost a thousand dollars in materials alone.

Learn how to market yourself. If you are part of an underrepresented community make sure to highlight that. Speak to your experience, you passion, and your efforts to work with the community.  Think about the organizations you are a part of, fundraisers or non-profit organizations you have done work for, and people in the community you have helped or supported.  The organizations that are sponsoring these programs aren’t just investing in your artwork, they are investing in you.

Your destiny awaits

Good luck in applying for grants. This is a great way to supplement the income of your small business and to get your name out there.  Do you have a success story of applying for grants? Share it with us and tag us @bz_furfur and, as always, stay unique.

The post Applying for Grants appeared first on Burning with Purpose.

Finding the right markets

We’ve done a lot of markets in the past several years. Sometimes doing two markets in a weekend every weekend of the month. The intent is to get our product in front of as many people as possible. Although this may seem like the best course of action when trying to sell your product, remember, quantity is not a substitute for quality. Instead of trying to get into every available market, prioritize which markets cater best to your audiences. Do you sell a lot of low-cost, small items? Look for farmers markets and shows with lower entry fees. Are you looking to sell your work as fine art. Look for markets that cater to people who can afford fine-art prices. Remember, in addition to the entry fees for each market, you also have gas, food, and other expenses that come with doing these shows. If you are not making that money back it doesn’t pay to invest in them.

Price Point

I always say: as an artist you should charge what you are worth. If you are creating pieces and selling them for razor-thin margins think about how much it translates to what you are paying yourself. For instance: That piece you created on a $20 wood blank that you spend 5 hours on which you just sold for $30. That netted you a $10 profit or, in other words, $2 / hour. And that isn’t even taking into consideration the overhead costs of being at the market. Keep tabs on how much your raw materials cost, how long the piece took to create, and set an hourly rate for yourself. That $30 pieces, if you are paying yourself $10 / hour, should have been priced at $70 instead. If you can’t sell your pieces at that price then you need to consider if you are at the right venue.

Passive Income

Find local shops that are willing to carry some of your products. Look for craft stores, art stores, book stores, restaurants, anyone who strives to support other small businesses. Consider the fees they charge and make sure that you are earning enough net-profit from those locations with your monthly sales. Consider places that offer month-to-month leases so that you aren’t bound to an annual contract in case the locations doesn’t work out. Remember, also, some months are generally slower than others. The money you make around the holidays could very well compensate for those summer dog-days.

How are you weathering these tough economic times? Do you have some suggestions for how to keep your business out of the red? Share them with us @bz_furfur and, as always, stay unique.

The post Getting out of the Red appeared first on Burning with Purpose.