So, it turns out when you’re trying to (finally) turn your modest side business into an LLC, you have to DO stuff. Lots of stuff. And think about stuff. And spend MONEY on stuff! What? You mean this takes effort, and being a professional artist isn’t just wandering around with paint splattered on my clothes, staring at flowers and musing about the fleeting beauty of life?! Well, forget it then!
…I’m just kidding. They told me about all this in art school, so I was totally prepared. 😉
|Scotty does not understand these things you call spreadsheets. Scotty would like a biscuit now.|
I’m actually kind of geeking out and having fun over preparing myself for taking this big leap into Incorporation and Grownup Stuff…
I’ve even made myself spreadsheets already. I know, right? It’s like I’ve done this before or something. 😛 I plan to apply to a couple of art fairs/festivals for the fall season (most of the spring art shows around here have already closed to applicants already, and summer…well, this is Arizona, and summer is dead because no one wants to be out in this heat, art or no). So I drew up a spreadsheet of supplies I need for these festivals, prices, quantities I need, and, well…it’s not cheap.
Granted, it’s cheaper than a wedding (even mine, which was cheaper than cheap), but still, things add up. Especially when medium-sized print racks are anywhere from $34 – $99…who knew?
|This one is $38, but it’s a shortie.|
But! I did a second spreadsheet of only recurring costs. Because the print rack, display walls, rolling dollies to carry stuff on, easels, etc. are one-time costs. Things like restocking on prints, print sleeves, backing boards for said print sleeves, lunch for me and my show helper (which will probably be my husband, although he doesn’t know it yet…hi, honey!), those things need to be bought anew for each fair.
And you know what? Although my first fair will cost quite a bit, subsequent fairs will only be half as much, and most of that is the fee to get a booth space to begin with. For my second fair, if I sell $300, I’m making a profit. That’s ONE original. Or SIX large prints. The break-even threshold is not as high as I thought. This gives me a lot of hope.
However, is there still lots of preparation? Sure. Am I going to be sitting here in a couple weeks with LLC paperwork in front of me, tearing my hair out? Probably. And will I have to make a ton of new originals in hopes of selling them at that first fall fair in August? Yes, but it’ll be fun. After all, I’m doing this because I love it. It’s supposed to be fun. At least some of the time.