Passive Income as an Artist
Passive income simply refers to build some online business that can eventually generate a huge amount of money. Passive income is something that allows a person to grow without being actively involved. One needs to be super intelligent as well as patient because passive income grows gradually with the passage of time. It is not like something that can make you rich overnight however, a lot of hard work is required to reach a point where you can become fully independent of active income. In the beginning, all you need to do is work hard in building assets that will work for future success. Passive income as an artist is something that is growing day by day. Following are some options regarding passive income as an artist:
Print-on-demand sites enable an artist to print his artwork on notebooks, pillows, phone covers, bags, wall art and much more. The POD companies look after the whole process from manufacturing to revenues. An artist is only required to create beautiful pieces of art. Huge investments are made in marketing by such POD sites. The sales happen to grow with the passage of time. However, the increasing number of artists can make it difficult to gain traction. Also, an artist loses his personal branding while working with such POD sites. The profit margin of an artist tends to be very low as he earns only 10% for each sale. It is a slow build process for an artist that requires better promotion technique of the shop, a huge number of followers and a large number of sales. There is a huge variety of POD sites working for artists including Redbubble, Society6, Casetify, Drawdeck, Threadless, Designs by Humans, and a lot more. There are new POD companies joining the market every day.
Teaching Art Online
Artists can actually earn massive passive income by teaching online. There is a huge number of people who are willing to learn different arts. For teaching online there is a guaranteed number of audiences. Website such as Creative Bug, CreativeLive, Skillshare, and many others are providing online courses.
Selling art in Galleries
Reaching to galleries is not an easy job but once an artist is in, the selling is done by the gallery reps. It is also better to let them handle the sales. Also, they may even ask for 50% or more for the sale price.
Art licensing is something similar to POD where an artist gets paid on the basis of sales. In art licensing an artist has to work with an art licensor in order to license his designs to a company.
Artists have a huge variety of options to earn through their art. It is just the patience that is required in order to make massive income.