How to Finance a Building in Bits and Pieces
I've said before that if you want to make a living as an artist, your business model had better be as creative as your artwork itself. I still stand by that statement, and now, more than ever, I believe that it applies to everyone, not just artists.
This strategy has kept my art business healthy even during the financial crisis. Sales of my firebowls remain strong; in fact, October was my third best month for sales this year. But the buildings where I live and work are in danger of falling down, perhaps literally on my head. Due to the recent failure of the credit market, I need to find a creative way to finance a new studio before it's too late.
You know what? I can do that, I think. But I can't quite do it alone. I want to be clear that I'm not looking for a handout or a bailout or free money. This is something I intend to work for. I've come up with a way to raise the funds that should benefit everyone. I'll tell you the plan in just a moment, but first I want to tell you a story to put the plan in context.
Sometimes it feels like the world is falling apart, breaking down, collapsing into ruin. This is one of those times. There’s a smell of fear in the air. People are waking up in the morning feeling powerless and scared. It feels a little like the end of the world.
But if I've learned anything in my career as an artist, it's this: every time the world ends, a new world springs up in its stead. Disasters are a form of opportunity… a time to reinvent, renew, re-envision and re-engineer. That’s exactly what I try to do with my art, and it's my hope that by example, I can inspire others to do so as well.
I've seen the end of the world before, and every time, my response is this: 'Give me a hammer and I'll build you a new one.'
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Four years ago, I rode the roof of my studio to the ground as I struggled unsuccessfully to keep the building from collapsing under the weight of snow. My tools were destroyed, my work space erased, the heat and water for my house knocked out 'til spring. Most people would have quit and walked away. I certainly gave it a lot of thought… but in the end, I'd worked too hard and too long on building an arts career that was just on the edge of taking off. Giving up would have gotten me nowhere.
So I got creative instead.
Working with a local bank I was able to buy the property and remaining two buildings in exchange for a new mosaic sign for their head offices. The buildings were cheap because they're so decrepit and unsafe that they cannot be insured under any policy. My intention was to use them as a stopgap, to build my business until I could afford to design and build the studio of my dreams. My hope was that they would last long enough for me to make that happen. It almost worked.
My plan was to rebuild with a new studio made from durable, eco-friendly, used shipping containers. The design will be immune to extreme weather, and also reflects my commitment to working with recycled materials. The movie below was generated from the 3D model by architect Greg La Vardera and shows the exterior and interior of the proposed studio building.
I spent $25,000 of my savings this to design the new building, survey the property, prepare site plans and seek initial permits… only to have the credit market collapse the very week that the building plans were finalized.
Banks are running scared. Not one is willing to risk a loan to a self-employed artist, no matter how successful. Even before the credit market tanked, funding for an unconventional structure would have been difficult, but now it seems impossible. The estimated cost of the building is $400,000. I was prepared to put 10% down on the loan, but even with 20% banks just aren't making loans to anyone right now.
So it's time for me to get creative about this. If I want to make the new building happen, I'm going to have to find a way to raise the cash on my own.Due to the poor condition of my current studio, production of firebowls is limited, which is why I've chosen to raise the needed funds with mosaics.
That's where you come in.
I plan to raise the funds for construction by offering a limited edition of custom mosaics to people who want to help make this project a reality. People willing to believe that it’s okay to buck tradition and show that ingenuity and hard work can make things happen. That by working together, people can change the world, or build a new one.
The mosaics are available in three different sizes and the designs can be any image you desire. The mosaics will be completed in the order purchased, one mosaic per week minimum.
Reserve Your Limited Edition Mosaic Now:
| 2 x 2 foot mosaic $2,500 limited to 100 |  |
| 3 x 5 foot mosaic $7,500 limited to 50 | |
| 4 x 8 foot mosaic $16,500 limited to 10 | |
| Upon purchase, you will receive a confirmation email with detailed instructions on how to prepare and send an image file which I will use to create your mosaic. The instructions are also online here. | |
The odds of my current home and studio surviving another harsh winter are slim. The need to rebuild is urgent.
By helping to rebuild, you are not just supporting a single artist but contributing to an entire community. The new studio will allow me to expand operations and hire additional help, providing well-paid jobs in a beleaguered economy that has recently lost several large employers. My investment in my art business has already had a positive effect on the broader community.
As an artist, I am also a small business owner who supports a family, pays taxes, and supports other local businesses through the sale of my art. I have a part-time assistant who depends on the income I provide him to make his house payment. I spend over $10,000 a year to buy the materials for my firebowls at a local scrapyard. I provide so much business for my local freight company that they extend me a 75% discount.
There are not a lot of successful businesses or job opportunities in the area of Michigan where I live, and the income I make from my art and spend in the community is important to the people I support. The fact that I am able to sell my work globally and bring money into the Michigan economy (one of the worst in the nation) is something that I am very proud of and I feel pretty good about the fact that I can help people pay their bills while larger corporate companies are laying people off left and right. I feel good that my art can help others through hard times.
Examples of source art and finished mosaics:
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Offer Details:
- The mosaics will be offered in a limited number and will be custom-made to any image or design you desire.
- I am able to recreate nearly any photograph or picture as mosaic work.
- Each mosaic will be hand made and shipped in the order of purchase, at least one mosaic per week, minimum.
- All mosaics will be created from vitreous glass on backer board suitable for indoor or outdoor display.
- All the mosaics come framed in powder coated steel frames suitable for hanging.
- All funds from the sale of mosaics will be set aside towards the construction of the container building.
- Purchase is not tax deductible
Reserve Your Limited Edition Mosaic Now:
| 2 x 2 foot mosaic $2,500 limited to 100 | |
| 3 x 5 foot mosaic $7,500 limited to 50 | |
| 4 x 8 foot mosaic $16,500 limited to 10 | |
| Upon purchase, you will receive a confirmation email with detailed instructions on how to prepare and send an image file which I will use to create your mosaic. The instructions are also online here. | |
My mosaic work has been featured in Mosaic Art + Style: Designs for Living Environments by JoAnn Locktov as well as Northeastern University Magazine (which commissioned three custom mosaics now in the University's collection) and the Toronto Star. Significant commissions include three public art mosaics totaling 66 square feet for Manly Career Academy High School; three mosaics for LakeView Baseball Club totaling 44 square feet; the steel and mosaic sign for Alden State Bank which is 4x8 feet; seven mosaic fish for the pool at Limelight Lodge in Aspen, CO, and many commissions for private homes including a mosaiced bathroom in Evanston totaling over 100 square feet.
Additional information about the project:
Why $400,000? That sounds like a lot of money for an art studio! $400,000 sounds like a lot of money, but according to the US Census, the average cost of a new home in the US in 2007 was $313,600. The new building will have 5504 square feet of usable live/work space, at a cost of less than $75/sq. ft. The building is designed to be zero maintenance, energy efficient, and will provide a safer and more functional work space for myself and my assistants. The courtyard containers include four guest spaces for visiting artist studios as well as two gallery spaces that will be used to help other artists sell their work.
The kind of metal work I do is basically light industry as much as it is art, so if you think of this project as a small factory, a home, two galleries and four guest studios the price tag suddenly sounds pretty dang reasonable.
Who designed the building? The basic concept of the building is something I have been refining for a decade. The architect on the project is Greg La Vardera who was amazing to work with and who expressed my vision quite eloquently. SG Blocks did the engineering for the container modifications and will be providing the modified containers for the project.
Why do I need to provide an image? Aren't you the artist? To insure that you are happy with your mosaic, I prefer to work from a photo, drawing or image provided by you. You could just tell me to make you "a train" or "a fish" but there is so much variety among trains and fishes that it really helps to have an image to work from. If you really want me to just wing it based on a verbal description, I can do that.
How do I send you the image to work from? Upon purchase, you will receive a confirmation email with detailed instructions on how to prepare and send your image.
What if I change my mind or want to return my mosaic? All orders are 100% refundable prior to creation of the mosaic. Once the mosaic has been started, it becomes non-refundable.
Why do the mosaics on offer total more than the $400K goal? The earned income generated by the mosaics will be taxable. In order to have enough money for the project and enough to pay the taxes, I will need a total of approximately $602,500.
What if you only raise part of the money needed? What will happen to the money from the fundraiser? All money raised through the sale of these mosaics will be used for construction of the new studio. In the event that I am unable to raise the total amount needed, the funds raised will be used for a down payment on a loan.
Will I be able to deduct my contribution on my taxes? No. I am not a non-profit corporation so the IRS will regard your purchase as a sale and not a donation.
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