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License Your Art: Five Questions That Will Help You Decide If It Is a Fit

Stack of CoinsThere are no get-rich-quick schemes in art. If there were, the myth of the starving artist would be history.

There are ways to multiply the income you make from the investment you make in your original art.

One way is licensing.

"Licensing" is a way of generating income from your art. Instead of selling originals or selling your designs outright, many artists will grant the right (license) to use their art on a specific product, for a set time period in exchange for a percentage of sales. This percentage is called a royalty. By licensing your art, you have the potential to earn income on the same art piece or collection several times." Tara Reed. 

But make no mistake, it does add to your workload, so we want you to be well equipped before you decide to go this route.

Digital Arts StudioFanfare please! Tara Reed is now the A.C.T. Art Business Mentor for licensing.  Tara will be able to answer all of your questions about licensing your work in our upcoming TeleClasses. Tara is active in licensing so you will get the latest information and advice that works. After all, we want you to build an art business that lasts and helps you make a better living.

This week Tara gives you "Five Questions That Will Help You Decide If Art Licensing Might Be a Fit For You and Your Art"

"There are many ways to make money with art, licensing is just one. Licensing means that you chose to give manufacturers the right to put your art on their product in exchange for a royalty. You maintain the control and copyrights to your designs, and you can license the same art to several manufacturers at the same time. (Provided of course, that they make different products.) To help you decide if licensing might be a good fit for you, I have come up with five questions for you to think about. Be very honest in your answers so you don't waste your time learning about and pursuing something that doesn't fit your goals for your art, your way of working and your lifestyle.
1.  Do you love to create art?
2.  Would you enjoy seeing your art on products in stores? Maybe wrapping paper, dishes, posters, greeting cards, and more?
3.  Can you meet deadlines?
4.  Do you paint a variety of topics (holidays, seasons, trends) - or - do you have a well developed character or characters?
5.  Are you flexible with your art? If a manufacturer asks for changes (maybe colors, or images) will you be offended, or find out exactly what they need?
"If you answered 'Yes' to most of these questions, art licensing might just be for you. I know that when I started I got overwhelmed. There was so much to learn and think about. I wanted to know everything immediately. Sometimes I thought I couldn't do it. But I did and you can.

"Start by learning the basics. Decide what your goals are. Organize the structure of your business. Give yourself permission to relax and learn - the most important thing is to keep your creativity flowing and not become so stressed about what to do that you can't create!"

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