"Knowing what to charge for artwork could potentially mean the difference between the success or failure of your art business."
Never Stumble when telling your price, “but be confident in asking what is reasonable for the work you do.
As a professional freelance artist you may need the following insurances: public liability, transit of artwork, damage to artwork, studio content, fire and theft to protect your studio and accident or loss of income insurance, because when you are sick, you aren't getting paid.
To freelance means taking care of your own superannuation, so the usual 9% rate of pay has to be factored into your pricing.
3. WORKERS COMPENSATIONS
As a freelancer you are not covered under the workers compensation act, and whatever happens to you is your own responsibility.
4. ARTS EDUCATION & TRAINING
Many artist have put time, effort and money into some form of arts education and some will invest in further education along the way. Your skills have come from an investment you've made, while some of you were studying (full-time or part-time) and otherwise spend time to learn your craft, when you could have made an income within this time.
5. NO PAY WHEN SICK
The usual benefit of paid leave, paid sick days or long service is another reason for fair pay and needs to be incorporated into your budget.
Like every working person, you as a self-employed artist have a right for a yearly holiday. This is as important to you as for your customer, as you have to remember how much a relaxed holiday can recharge an artists creativity. And a well-run business takes this into account.
7. LEGAL CONTRACTS
Contracts or legal advice cost money. Even if you purchase certain contracts inexpensively from the Arts Law Centre, you still paid for them.
You should spend to some extent on marketing. Always! And if it is only through public relations in form of presenting yourself to potential clients and whether successful or not, even networking takes valuable time.
Being in business requires to present your artwork in a professional manner, whether in form of photographs, prints, copies or online presentation. To create a professional portfolio can be expensive.
10. STUDIO RENT
Whether you have a separate commercial studio or work from home, it is space you pay for.
11. ART MATERIALS
Unarguable artists do have a lot of expenses for art materials. Just think of what you have spent over the years for your trials and errors to experiment.
Every artist needs a website these days and it cost money and time to keep it updated and moving and alive.