Innovative Funding Techniques for Artist Entrepreneurs

Many artists fund their careers by using personal savings or applying for loans. However, there are a variety of sometimes overlooked funding techniques that can support artists and artistic projects. This article looks at the many ways artists can use their creativity and skills to make money. 

Sell Your Art 

It’s no surprise that artists sell their art to support their careers. There are many avenues to explore when it comes to selling artwork. Using various platforms to reach a broad base of potential buyers is an effective approach. 

Virtually: Building a professional website to showcase your portfolio is a must. Your website should include high-quality images of your work, a biography, an artist statement, and a resume. If you have photographs of artwork installed in exhibitions or collections, include those. Any information relevant to your artistic career should live on your website. 

Use social media as a tool to attract viewers and drive them to your professional website. In addition to Instagram, YouTube, Facebook, TikTok, and Pinterest, you can utilize art websites such as Flickr, DeviantArt, Behance, Saatchi Art, Fine Art America, RedBubble, and Etsy. Work on gaining followers because buyers and galleries will take note of your popularity. You can also use these platforms as marketing and networking tools — emails, blogs, live streams, and creative videos all aid in marketing efforts. Consider creating a mailing list or even a membership program where, for a fee, members can access certain perks. 

In-person: You can gauge an audience's response to your work by participating in events such as art fairs, pop-up markets, festivals, local exhibitions, and studio crawls. Art happenings such as these expose your artwork to large crowds, encourage sales, and easily introduce you to potential buyers and like-minded artists. Keep in mind that you will be among your competition, so create a space to stand out. You may need to invest in a tent and a display system. There likely will be a fee to participate and perhaps a vetting process. Aside from sales, the most valuable part of participating in such events is the time you spend with your viewers. Interact as much as possible and listen to feedback. 

Opening your studio to visitors is another way to engage with potential buyers. Getting a peek inside your studio is fascinating to potential buyers as they get to see behind the curtain and gain a greater understanding of your process. Use this opportunity to demonstrate your work live. You can even host a plein-air painting event to intrigue passers-by. 

Gallery Representation

Finding an art gallery to represent you is a significant accomplishment. When applying to a gallery, be sure to do your research and identify galleries that exhibit work that is similar or complementary to yours. Attend gallery openings, artist talks, and other art events as a means of understanding your art community and as a mode of networking with those in the industry. 

Each gallery has a different approach to finding artists. Be sure to research submission guidelines before you apply for representation — you can usually find these online or by contacting the gallery. You will likely be asked to submit a cover letter, images, artistic statement, and your CV. Maintain professionalism and never approach a gallery without an appointment.  

Apply for Grants 

Grants are awards of temporary financial support from an institution, private foundation, non-profit, or public art agency that offer artists the funding needed to work. Funding can be used for specific projects, studio space, rent, and even supplies. Grant opportunities are varied, and each application is different. There are distinct criteria, areas of focus, and goals for each one. The application process for a grant may seem daunting as it is lengthy and competitive, but if you have a project that needs funding, a grant may be your best option. Search for grants online, at your state arts agency, and at regional arts organizations. 

Participate in an Artist Residency

Artist residencies are location-specific programs that offer artists the time and resources necessary to work. Residencies vary but typically offer living quarters and/or studios for a specific period. Residencies are often in a locale that offers creative impact. They are beneficial for many reasons, as they bring a wide variety of artists together at one time. Artist Communities Alliance, Res Artis, and Art Connect offer directories of artist residencies. 

Try Crowdfunding

Artist entrepreneurs can raise money through crowdfunding. Crowdfunding allows you to accept many small donations from a large audience of individuals. Crowdfunding platforms such as Kickstarter and Indiegogo allow artists to create campaigns and share them with fans, friends, and acquaintances who would like to support them. Additionally, these platforms provide marketing to a new audience looking for investment opportunities. Most artists offer rewards to those who donate. These may include a print of artwork or a gift related to your project. 

Consider Teaching 

Teaching art comes in many forms. Artists may find that teaching in a school setting is beneficial, but there are numerous modes of education to consider. Artists who do not have a degree in teaching still have the option to earn an income by teaching. 

Private Lessons: Consider offering private lessons to students of all ages. Often, school-age students who are excelling in art look for additional education. Offering private lessons gives you the flexibility to set your schedule and rate. Utilize well-ventilated space and invest in art supplies for your students — and make sure to consider these expenses when determining your fee. 

Workshops: Connect with a local organization such as an arts council or art guild and offer to teach workshops. Workshop partners may include your local library, summer camps, and recreation centers, for example. The benefits of partnering with an organization include marketing, space, and supplies. Most likely, you will share profits with the venue, but when you consider the benefits, profit sharing makes sense. Workshops can be limited to one day and can include interactive elements to attract customers looking to add value to events (such as team-building workshops, corporate events, and other parties). 

Virtual Teaching: Perhaps you cannot teach in person, but you do have a camera and artistic skills to share with others. Virtual teaching is worth exploring, especially for passive income. Skillshare is an online learning website specifically for creatives. There is an application process but once approved, artists upload educational videos and get paid every time someone watches them (sometimes months and years after the content is made). Udemy is another website to consider for online teaching. With 62 million students, this community helps you to expand your network and get paid for your content.

Ebooks, PDF guides, and tutorials: In addition to creating educational videos, artists may create ebooks and pdf guides. While ebooks are a big commitment and require a lot of time, creating how-to art guides or art/crafting templates may be less intimidating. These are often shared on art websites and social media such as Pinterest. 

Offer Your Services

Artists have a wide range of skills that can be monetized. Many individuals and organizations will pay a fee to hire an artist and gain access to their creativity and expertise. 

Consulting: Art consultation comes in various forms. From assessing a client's needs to giving recommendations based on artistic knowledge. Consultants may source and place art in private and public spaces. They offer opinions when it comes to purchasing artwork and designing spaces. Art consulting can also include collections management, corporate art programming, research, negotiation with other artists/sellers, and managing site-specific projects.

Curation: Galleries, arts organizations, and corporations often hire freelance curators to create and install exhibitions. Education and experience are key, so you must obtain them before pursuing a career as a curator. Once qualified, look for opportunities and be prepared for an interview with an exhibition proposal in hand. 

Art Handling and Installation: Who better to handle art, shipping, and installation than an artist who already has experience with their own art? Artists have a certain level of comfort handling art since they are around it daily. If you have no trouble with tools and materials, are incredibly detailed, and have problem-solving skills then you might consider seeking employment as an art handler/installer. 

Critiquing: Students and early career artists greatly value the feedback and advice of established artists. Reviewing portfolios and critiquing art is a skill that you can earn money for — you can contact schools and local arts organizations to offer this service. 

Freelancing and Commissioning

There is a wide range of opportunities for artists looking to freelance or create artwork to meet the specific needs of others. 

• Illustration: create art for children’s books, educational materials, graphic novels, print and online publications, and comics.
• Graphic design: design branding materials such as logos; create marketing online and print materials; and design and build websites.
• Digital art and animation: produce concept art for film and animation; design characters and backgrounds for video games; produce animations and graphics for web-based projects.
• Photography: sell stock images of your art through websites such as Adobe Stock, Shutterstock, and Alamy. Photograph events such as weddings, corporate events, and parties. Provide photography services for products. 
• Set and Prop Design: create props and sets for theater, television, and film.
• Licensing: design patterns for textiles and surfaces. License your artwork for use on products. 
• NFTs (Non-Fungible Tokens): Create and sell digital artwork as NFTs on platforms such as Rarible and Opensea. 

Commission Your Art

While not exactly the same as freelancing, commissioning your art is another way of offering your unique and valuable talent to meet the needs of others. Commissions can include site-specific artwork, portraits, murals, and public art. If you offer commissions, be sure to include that information on your website and social media outlets. CallForEntry (CaFE) is a great resource to find work. 

Seek Corporate Partnerships

Companies looking for distinct branding and who utilize innovative marketing techniques may look to hire artists for their skills and creativity. Artists can contribute to product design, marketing campaigns, and can shape the corporate culture of an organization. 

Conclusion

There are many innovative funding techniques for artist entrepreneurs. The techniques outlined in this article allow you to diversify streams of income and reach a broader audience. Don’t forget that the financial support necessary to sustain and grow your artistic endeavors comes in many forms.