Why should I offer multiple revenue sources in my art business?

Having multiple revenue sources is crucial for sustainability and growth in the art business. Relying on just one income stream—whether that’s only selling originals, or only offering photography sessions—is extremely difficult and has a low probability of long-term success. Multiple revenue streams provide diversification, give you financial stability while you grow different parts of your business, and significantly increase your earning potential. Common additional revenue sources include prints, teaching classes, workshops, different types of merchandise, or hybrid service models. The artists and photographers who are really thriving almost always have multiple revenue pillars supporting their business.

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Asked by general teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2019-06-06