If you don’t plan and track your art school budget properly, you're setting yourself up for failure.
When we developed our strategy pack for art school owners, we saw a lot of art school owners struggling with finances and planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having substantial enrollment.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your art school's finances around and set you on the path to success!
Get the budget tracker tailored for art schools
Most art school owners don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for art schools
Here is an example of a (very) detailed budget for an art school, to give you some inspiration
1. Rent and Utilities
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Rent | Lease for art school space | $4,000 | $48,000 |
Electricity | Power consumption for classrooms and studios | $600 | $7,200 |
Water | Water usage | $150 | $1,800 |
Internet & Phone | Internet service and business phone | $100 | $1,200 |
Waste Removal | Garbage and recycling services | $80 | $960 |
Insurance | Property and liability insurance | $400 | $4,800 |
2. Salaries & Wages
Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
---|---|---|---|---|
Head Instructor | 1 | $3,500 | $3,500 | $42,000 |
Assistant Instructors | 2 | $2,500 | $5,000 | $60,000 |
Administrative Staff | 1 | $2,500 | $2,500 | $30,000 |
Janitorial Staff | 1 | $2,000 | $2,000 | $24,000 |
3. Art Supplies & Materials
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Paints & Brushes | Various types of paints and brushes | $500 | $6,000 |
Canvases & Paper | Different sizes and types of canvases and paper | $400 | $4,800 |
Clay & Sculpting Tools | Materials for sculpting classes | $300 | $3,600 |
Drawing Supplies | Pencils, charcoals, erasers, etc. | $200 | $2,400 |
Cleaning Supplies | Detergents, sanitizers, etc. | $100 | $1,200 |
4. Marketing & Advertising
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Online Advertising | Google Ads, Facebook Ads, etc. | $250 | $3,000 |
Social Media Management | Managing social media accounts | $400 | $4,800 |
Print Advertising | Flyers, posters, newspaper ads | $150 | $1,800 |
Website Maintenance | Hosting, domain, updates | $100 | $1,200 |
Email Marketing | Email campaigns and newsletters | $100 | $1,200 |
Promotional Events | Special events and promotions | $150 | $1,800 |
5. Miscellaneous Expenses
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Equipment Maintenance | Regular maintenance of art equipment | $300 | $3,600 |
Uniforms | Staff uniforms and aprons | $100 | $1,200 |
Licenses & Permits | Business licenses, permits, etc. | $100 | $1,200 |
POS System | Point of Sale software and hardware | $100 | $1,200 |
Contingency Fund | Emergency repairs and unexpected costs | $400 | $4,800 |
Office Supplies | Stationery, pens, printer ink, etc. | $100 | $1,200 |
Staff Training | Training programs and materials | $150 | $1,800 |
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What are the biggest expenses for an art school?
Be mindful of these critical expenses. Here are five major costs every art school owner needs to consider, along with some tips on how to manage them effectively.
- Art Supplies and MaterialsThese can consume a significant portion of your budget. You're dealing with items that can be costly and need regular replenishment, such as paints, canvases, and sculpting materials. To keep these costs in check, focus on bulk purchasing, negotiate better prices with suppliers, and minimize waste. It's easy to overspend by buying too much or opting for premium materials that don’t add enough value to your classes.
- Staff and InstructorsYour instructors are the heart of your school, but paying for their salaries, benefits, and ongoing training can be expensive. This cost is always high because you need skilled professionals to provide quality education and keep things running smoothly. You can optimize labor costs by scheduling efficiently, cross-training staff, and monitoring productivity. However, be careful not to underpay or overwork your staff, as this can lead to high turnover and poor instruction quality.
- Rent and Utilities of Your Art SchoolPrime locations come with high rent, but they can attract more students. Utilities like electricity, water, and heating are essential but add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient appliances and lighting. Overspending often happens when you choose a location that's too large or too luxurious for your needs.
- MarketingYou need to promote your art school, but advertising can be pricey, whether it's online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we recommend in our guide. Overspending can happen if you invest in flashy campaigns without a clear return on investment.
- Studio Equipment and Maintenance CostsThis includes everything from easels and pottery wheels to digital art tablets. These are expensive because quality equipment and regular maintenance are crucial for smooth operations and student satisfaction. Optimize by investing in durable, energy-efficient equipment and maintaining it regularly to avoid costly breakdowns. You can overspend by going for the latest high-tech gadgets you don’t really need.
How to spend less with your art school?
Here are practical tips to help you, as an art school owner, optimize your budget and manage expenses more effectively.
Expense | Tips to Optimize |
---|---|
Art Supplies | Partner with local art supply stores for bulk discounts and seasonal sales. |
Instructor Salaries | Implement a scheduling software to optimize class hours and reduce overtime. |
Utilities | Install LED lighting and energy-efficient heating and cooling systems. |
Marketing | Run social media contests for your art school and collaborate with local artists for free exposure. |
Cleaning Supplies | Train staff on efficient use of cleaning supplies to reduce waste. |
Equipment Maintenance | Set up a maintenance log for regular checks and servicing of art equipment. |
Rent/Mortgage | Negotiate lease terms during renewal or consider moving to a less expensive location. |
Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually. |
Class Materials | Use cost-effective, eco-friendly materials and offer discounts for students bringing their own supplies. |
Furniture | Purchase high-quality, durable furniture that can withstand frequent use. |
Registration System | Choose a registration system that offers essential features with low transaction fees and integrates with other systems. |
Staff Training | Conduct regular in-house training sessions and use free online resources. |
Waste Management | Implement a waste tracking system to minimize waste and recycle excess materials. |
Technology | Invest in multi-functional art tools and utilize school management software for class scheduling and student records. |
Linen and Laundry | Partner with a cost-effective linen service and consider reusable aprons and cloths. |
Brochure Printing | Use digital brochures or QR codes for information access to reduce printing costs. |
Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. |
Transportation | Plan field trip routes to maximize efficiency and reduce fuel costs. |
Office Supplies | Purchase supplies in bulk and go paperless where possible with digital systems. |
Inventory Management | Use inventory management software to track stock levels and reduce spoilage. |
Pest Control | Schedule monthly pest control services and maintain cleanliness standards to prevent infestations. |
Music and Entertainment | Use a streaming service for background music and host local artists during off-peak times. |
Uniforms | Choose durable, easy-to-clean uniforms and offer staff a stipend for maintenance instead of using an external service. |
Copy the tactics of the best art schools in the world!
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Expenses that are just useless for an art school
Yes, some expenses for your art school are just unnecessary. They don't contribute to enhancing the learning experience or attracting more students.
Art School Expense | Reason It's Useless |
---|---|
Luxurious Studio Decor | Overly lavish studio decorations don't necessarily attract more students and can be a drain on the budget. |
Premium Art Supplies | Unless you are catering to professional artists, most students are satisfied with mid-range art supplies. |
Excessive Course Offerings | A large number of courses increases operational costs and can lead to under-enrolled classes. |
High-End Studio Equipment | Top-of-the-line studio equipment is not always necessary and can be cost-prohibitive. |
Paper Advertising | Traditional paper ads often have a lower return on investment. Don’t include them in the marketing strategy of your art school. |
Multiple Uniform Styles | Having various uniform styles increases costs without adding significant value to the student experience. |
Excessive Staff | Overstaffing leads to higher labor costs without necessarily improving the quality of education. |
Premium Subscription Services | Expensive subscriptions for art magazines or online platforms often go unnoticed by students. |
Exclusive Art Materials | Using rare art materials can inflate costs and complicate supply chains. |
Costly Furniture | High-end furniture is not always appreciated by students and can be a significant expense. |
Custom Printed Materials | Personalized materials like sketchbooks or aprons are a minor detail that most students overlook, and they can be expensive. |
Unnecessary Software | Paying for software with features you don’t use is a waste of resources. |
Premium Water Brands | Most students are content with filtered tap water, making expensive bottled water unnecessary. |
Extra Delivery Vehicles | Maintaining a larger fleet than needed for art supplies increases operational costs. |
Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
Overly Frequent Renovations | Constantly updating studio decor and layout can be costly and disrupt classes. |
Expensive Art Displays | Elaborate art displays are often ignored by students and add to the cost. |
High-End Art Tools | Luxury art tools are prone to damage and expensive to replace, often going unnoticed by students. |
Excessive Staff Meetings | Too many meetings can reduce productivity and increase labor costs. |
Expensive Course Materials | Frequently redesigning course materials is costly and often unnecessary. |
Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense. Get our marketing budget planner template. |
Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
High-End Event Equipment | Specialized event equipment is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your art school!
Managing a budget for an art school when funds are tight can feel like a nightmare. It's like being in a jail where any unexpected expense can drown you.
This constant pressure makes it nearly impossible to invest in growth projects, leaving you always chasing after expenses. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, scraping together pennies and barely making ends meet. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more breathing room and more money to spend.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of art schools just like yours. Get them now!
Make your art school more profitable
We have studied the strategies of the best art schools in the world. All their tactics are explained in our pack!