Art galleries invest tremendously in promoting the best artists within from their communities. Traditionally, this requires producing art exhibitions from start to finish.
This effort involves curating artists, administering logistics such as transportation and display of the works, promoting exhibitions and providing excellent customer service. This strategy, or Vertical Integration, can return high rewards but not without high risk.
Galleries can benefit by exploring strategies that minimize these risks by reallocating segments of this value chain (such as curating artists or promoting exhibitions) to a well-matched partner through MUSE SQUARE. This alternative approach – Horizontal Integration– increases your capability to focus on critical exhibitions that require more of your attention; saves time and money; and, creates opportunities to tap new artists and markets.
A comparison of these strategies shows how each approach can solve your gallery’s specific objectives:
Here is how the Muse Square Fellowship can help you:
There are many ways to run a gallery. The Muse Square Fellowship gives you all the flexibility that you need to operate your business according to your goals or your business circumstances.
a. Generate additional revenue while maintaining your activity
As a gallery you curate artists. Why not do the same with foreign galleries, cultural institutions or private art sponsors that are not your immediate competitors? This can provide access to valuable content for your existing customers which can increase your value proposition and help secure fixed revenues.
By hosting a Fellow gallery, you can lease out a portion of your existing space to other interesting players. Both fellow and jost can agree on a clear split of the space (typically 30-70).
b. Create joint exhibitions
Creating joint exhibitions is a good way to partner with other galleries while keeping a traditional gallery set-up for your clients that are already familiar with the concept.
In that case, you can split gallery walls evenly with your fellow gallery while securing significant revenues and keeping your financial risk under control (50% host gallery vs. 50% fellow gallery wall split). It also allows you to share promotion costs, as you and the fellow gallery both look forward to achieving the same goals.
c. Turn your gallery into an art hub
Curating galleries can be a business of its own if you need to control your costs while maintaining your in-house activity. In that case, consider renting most of your walls to Fellow galleries of the same country or the same art niche, depending on how you wish to specialize.
You can free up additional physical space by shifting to a broader online offering and having a faster exhibition turnover for stored artworks.
You may reserve 30% of your space for your own activity and up to 70% or more curating other Fellow galleries.
Whatever option you choose, Muse Square provides competitive advantages for both the Fellow and the Host:
Fellows may include on-demand services such as promotion and sale. By requesting those services to your host gallery, you fully subcontract the client-relationship and receive exposure to their existing client-base. You also avoid multiples trips to the site. These are just some of the benefits you can experience from working collaboratively.
Are you interested in the Muse Square Fellowship?