Business Plan - How to make money in Illustration Part 2
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Just a quick question to @Lee-White about your last video How to make money in Illustration Part 2.
If my project was to be a children's books illustrator and also selling fine art originals and prints in fairs etc, should I make 2 separate business plans? or should I combine everything into Audrey Dowling Art with sub-categories?
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I think two different business plans would be it. I also remember Lee mention he has different business plans for the two different business he has. But all in all, doing what makes the most sense of your particular situation is probably what you should go for.
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thanks @Nazuba
I must have missed that part -
@audrey-dowling yeah it IS a lot to take in and render, so I am taking my time. All the best!
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Hi Audrey,
Either way would work if you are just doing it for yourself. I like to keep them separate because in my mind they are different businesses even though the product is sort of similar in both. Selling fine art originals has its own costs, structure, customers, locations, etc. I track all my expenses for each side of my business separately so I can know how each is doing. If one of them really starts to fail, I want to know specifically so I can shift to the other, more successful areas. Likewise, if one part starts to really do well, I want to know that too so I can lean into that area a bit more.
I have three separate areas that I track. Illustration, Art Sales, and Teaching. It has worked well for me keeping those as separate as I can. I do just file one tax return though. It all goes under "Lee White Illustration".
Let me know if you have more questions. : )
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that makes perfect sense, thank you Lee
my career project is very similar to yours, so all your advice help me a lot! -
Great question!
