Business plans for sculptors, like business plans for other artists, need to give a sense of how the capital you're seeking can be used to grow your art into a true business. Many painters, recording artists, and film makers want to have money to back them in their craft, but few will get there without also having an accompanying analysis showing that they can make money by creating art. A sculptor must be able to show how the capital will be applied (a use of funds chart, with expenses by category) and what sort of revenues it can generate. It might seem reductionist, but this business plan needs to outline the potential sales by averaging out your typical project sale amount and tracking how often you can sell a sculpted piece. Other questions the narrative and pro forma should answer:
• What is the time elapsed between the start of a piece and its sale?
• Will you show your work at regularly scheduled openings or shows?
• Do you do any commissioned work, and if so what is the hourly rate that works out to?
• Will you have overhead expenses, as a business?
• What is the timeline to break-even that you envision?
The business plan pro forma should outline at least three years of ongoing revenues and expenses. The banks that grant SBA loans to artists will require a complete financial forecast that includes a sales table and assumptions, the break-even point, a profit and loss statement and cash flow, and a balance sheet for each year you model. The first year post-funding should also list out the monthly projections, which show when you actually commence and finish a work that you sell. Make sure to describe your work product and feel free to show examples of past sculptures, either in place or in your studio. A brief bio on yourself is also a suitable addition. MasterPlans is the leading business plan writing company in the industry and we can get this business plan written for you in as little as 5-7 days. Call today to learn more about what we can do for you! (877) 453-2011.
