Hypothetical Photography Gallery Question

[claire_maddox]

<p>Assume this galley is in well traveled location, in a smaller tourist city, and business is moderately successful: how much can the gallery owner expect to make annually over a ten year period? ... also assuming the first few years will be spent establishing a presence and gathering regular clients. I know there an incredible amount of variables but, any estimates are appreciated.</p>

[Matt Laur]

<p>You've got to remove at least a <em>few</em> of those variables, Claire. Like ... what continent you are on (are you talking about setting up in Detroit? A small village outside Paris? The Hamptons? Aruba?). What's the average income of the people who frequent the area? Is there any competition (and is it next door, or across town)?</p>

[luis_g]

<p>Realistically, such a gallery may never make enough money to recoup the initial investment. Or it could make up to 75-150K+ USD/yr in an ideal economy (which this is not) & location, assuming the owner makes a consistent string of savvy business moves, markets the business expertly and is lucky. A large percentage of well-known, established galleries have failed in the past few years. Risky business at the moment.</p>

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[ben greenberg]

<p>I know six galleries that have closed in the last eighteen months in a city that attracts a lot of tourists and that is known for its support of the arts. Enough said.</p>