November’s One-A-Day Q&A – Question #19

19 11 2016

Q: What is the first thing that I need to do to get started in art licensing?  I’m just starting out and I don’t know where to begin. 

november-q-a-final

 

A: I’m going to answer this question very simply, because it’s such a whale of a question.  It’s so big and it truly encompasses everything that I do every day. When you ask, “Where do I start”  “How do I build my business?”  It is hard to know where to begin.  I recommend that you start with making sure that your art fits with the industry and you fit with the industry.

I want for you to read my e-book that I’ve put out called “20 Rules for Starting Your Art Licensing Business.”  You need to read everything that’s related to the industry – as much as you can.  Immerse yourself in it.  Determine if the industry requirements are right for you.  You don’t want to put energy into a career move before you know if there’s going to be a fit.  You need to ask yourself if you can afford to be in this business until you get a revenue stream flowing.  It can take two to three years to ramp up: build your collections, generate a manufacturer contact list, and get an agent or market yourself.  It takes some time to generate the revenue that people often want from this industry.  Also, ask yourself:  Do you want to create art, both for yourself and, for the commercial marketplace?  Can you find a place where this successfully crosses over?  In other words, a place where you’re happy creating the art and it has a commercial viability (a willing and able audience).

Ask yourself, if you are prepared to be an entrepreneur.  This industry requires that you have an entrepreneurial spirit and that you’re not afraid to either do your own bookkeeping and sales or that you find someone to do it.  Are you going to get help and learn the new needs and wants of the industry?  That is really important.

If you are serious about art licensing, then I would start by creating your portfolio of licensing collections, a B2B website and a manufacturer lead list.  This will take you some time and will become the foundation of your business.  If you choose to utilize the services of an agent, instead of proceeding on your own, then you can forgo the manufacturer lead list and gather a list of prospective art licensing agents.

 

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2 responses

19 11 2016
Yuko

I just wanted to say thank you for these amazing blog posts! Your insights are SO helpful!!

22 11 2016
blogjnet

You are very welcome! Glad they are helpful.

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