This business is lucrative because many people buy prints and other artwork or want to frame their own pieces. Some people don’t have the time or patience to frame, so the custom aspect should not be ignored. Take into consideration, however, that about 60 percent frame their own, while 40 percent request custom framing. Material costs fall somewhere around 26 to 32 percent and gross profi ts about 68 to 74 percent.
You’ll spend at least $30,000 launching a frame shop, primarily because you’ll need lots of storage space and work area with sufficient lighting. More than likely, you’ll rent space somewhere close to an art gallery. Charges will vary according to size and make of frame.
Be mindful that this is a retail establishment, so take into consideration the size of the shop, location, and rent. You might want to sell some ready-made frames and prints to supplement the custom framing business.
Approx. cost of start-up: $40,000 to $60,000
Approx. potential earnings: $40,000 to $50,000
Typical fees: $15 per hour for custom work plus materials; materials only for frame-it-yourself
Where to promote: Yellow Pages, local newspapers, coupon books
Qualifications: Understanding of operating a retail business plus skill in framing and training a staff, ability to teach customers to frame
Things needed: Framing supplies, special cutters for glass, wood, mats, cash register, retail space
Required staff: No
Hidden costs:Insurance, materials
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