Toolbox | 01 Take Off | 04 Find Your Space

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Building your Space

Mitigating risk of an xyz property

Location demography
Research the community surrounding your location thoroughly.
Get involved in the area before you settle on a property.
Market valuation
You are better off finding a property in need of work at a
lower cost than a new build. The economics of this yield a
higher rate return longer term, if your landlord is able to
grant the time.
Structural surveys
Be vigilant with quantitative and building surveys, wasted
materials and major structural issues will cripple your
budgets and ultimate endeavours. Partner with a local
architect if you can, they are out there.
Access and footfall
Curate your year based on what the area offers, not what you
want it to. Programmes that consider seasons, can utilise
quieter periods for arts practices and busier for event
management and working on making your xyz known as a
destination. Where you are and how to get there will decide a
significant portion of who comes.
Finding architecture
Secure your aims and objectives, then Work with a local
architect. Even if this is limited to consultancy, communicate
your intended function of the space and tap into local
networks of contractors
Rentable vs subsidised space
Consider your xyz to be a self perpetuating entity. The
rentable area of your property will be your working capital
and the only life blood of your subsidies, space and
commissions on work sold. The higher the rental income,
whether residential (optimal) or venue for hire, the more
sustainable your xyz.
Residential space
Optimising or converting to residential space is a useful
income stream for the organisation. There are possibilities
for simple interior design linked with the gallery, along with
artist led management supervised by the core team. Longer term
leases or shorter stay lettings can generate significant
revenue.
Commercial space
Consider your gallery and studio floor plan as your commercial
property. This can be used for, screenings, seminars, shows,
private and community events. What is not used is an
opportunity lost, even if not for a lucrative application.

There are many ways to support the space financially, whether
it is to curate your year as a whole for a balanced programme
of shows and events, or curate weekly with venue for hire
alongside studio hours. Scheduling is key to preserving your
purist manifesto of creative and commercial, a symbiosis
without compromising either.

Things to Consider when looking for your Space

Finding a space might not be the easiest quest and, it is a
quest that you need to do on your own. However here are a few
things that are good to consider prior to signing a lease or
purchasing a building.

Where do you want to be located?

Central

Pros:

With organic footfall, people will “stumble over” your space.
If you choose an area with more galleries present, it is lightly that people already come here to look for art.

Cons:

Cost, the rent is often remarkably high in central areas of most cities.
Competition, If the area is home to more galleries you also have more galleries to compete with.
Square meters. A centrally placed space is often quite small unless you are willing and able to pay a lot per square meter.

Outside Of A Residential/Commercial Area

Pros:

Cost, if you find a space on the outskirts of the city rent is often much lower than in city centre locations.
Square meters, you are lightly to get much more space at a lower cost.
An opportunity to earn more money by allowing more small businesses to join your space.
Extra proceeds by renting out space you do not need for your business.
An opportunity to benefit the organisation through barter space out to artists for free that in turn will work X amount for the gallery.

Cons:

Low footfall, if any. How will you get potential clients and visitors to find you? And when/if they do, how do you get them to come and visit?
○ This could take a lot of marketing effort and perhaps even renting a bus/vehicle for openings and other events to make transportation easier.

In an area with or without other galleries?

With

If you chose a space in an area already populated with galleries your “competitors” already did the hard work. They have established the area as an “art area”. This means there is a high possibility that people who come to visit the neighbouring galleries have a natural interest – hence will come by your space too.
Competition is harder, you need to consider how to stand out. What will make your space unique? Should you add a Coffee bar? Music?

Without

No competition. It will be the only gallery in the area. No one is competing with your sales or events.
If there are no pre-existing visitors that fit the demographic you are after. Why is that? Is it a hidden gem that no one has thought of before? Then go ahead and do it, open up. Is it due to the neighbourhood? No cultural interest? Low income? Is your space the right one to make people in the area interested in art?