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The art gallery and museum industry comprises of art galleries, museum and art auction houses that primarily retail original and limited-edition artworks.
Other factors to consider include the monthly operating costs.
Attending gallery and museum openings is imperative.
Auction houses that bring buyers and sellers together and collect a commission are part of this industry.
The gallery and museum industry is highly fragmented, with most operators having from one to four employees.
However, on the opposite end, though smaller in number, the industry also includes multi-billion dollar institutions such as Sotheby’s and Christie’s International.
Over the five years to 2022, industry revenue is projected to grow.The market for artworks has continued to soar from generation to generation because people still appreciate art.Depending on the scale you want to start, the startup capital for this type of business can range from moderate to high.Other skills include learning about artwork dimension.Since art is highly subjective, a large part of your selection is based on personal taste and intuition.Knowing a handful of people you can sell artwork to will help you get your business off the ground.As you develop good relationships with your collectors, they will then introduce you to their friends and associates and this will help to establish your art gallery. If your gallery is not a commercial one, but rather an experimental showcase, you will need to have alternative sources of funding, such as art grants.As with starting up any small business, you must know your market first.Many art gallery owners began first with a list of potential clients.Some galleries chose their artists by location, theme, style or trend, to name a few.For example, some galleries will only show landscape paintings or exhibit artists who live in the same city.