Whether you’ve already had an ample amount of success with your art or believe that you’re on the cusp of breaking out, many artists choose to invest in an art studio because of the space and privacy it provides for the art pieces that they create. Instead of being confined to a single room in your home or apartment, the entirety of an art studio will be available to you for the sole purpose of creating art. If you’ve been thinking about getting your own studio, one thing you need to take into account is that you’ll face a significant amount of competition as well as rampant real estate prices if you’re searching for a studio in a prominent city like San Francisco or New York. If you find that you need to raise and organize some more funds before you can open a studio, the following offers a detailed look at five tips that will assist you with this endeavor.

1. Consider Grants and Fellowships

If you can qualify, likely the best way to obtain the funds that you need to open your own art studio is by obtaining a grant or fellowship for your art. When you find a grant or fellowship that you might be able to qualify for, you’ll need to send in an application to obtain the funding. The very best and most prestigious grants are ones that can only be obtained by having someone nominate you for the grant.

While grants can be difficult to get, there are thousands of them, which means that there’s a good chance you might be able to qualify for at least one or two of these grants. Because of how many options there are, it’s recommended that you go to an online grant database that will help you sift through all your options. If you live in Brooklyn, NY and want to open and art studio in the area, you can obtain a grant from the Brooklyn Arts Council Grants for anywhere from $1,700-$2,100. The funds that you gain can be used to open your own studio.

2. Focus on Public Art

If you’re trying to get enough money to open your own studio, you should think about focusing on public art for the moment, which is a type of art that’s commissioned by a city and is available for artists who send in applications and meet certain qualifications. Cities throughout the U.S. are required to abide by the Percent for Art Program, which states that one percent of the construction budget for a city should go to art that can be displayed in public places. Even if you don’t love the idea of doing public art, the funds that you can obtain are high. Keep in mind that these projects are typically large, which means that the workload will be intense. However, you’ll almost certainly secure the amount of funding you need to open an art studio.

3. Bring in Funds Via Fund Transfers

If you have friends or family who might be willing to lend you money to assist with the opening of a studio, it might be possible for them to send you money through a fund transfer. Even family members in another country can send money in person internationally via a wire transfer at an agent location. While you likely won’t be able to obtain all of the funds that you need to open a studio from your friends and family members, their assistance may allow you to rely less on other sources of funds.

4. Look Into a Paid Residency

All over the world, there are numerous paid art residencies that will allow you to take part in various art projects and receive payment for doing so. These residencies can last anywhere from a few weeks to upwards of six months. At the end of the project, the money that you obtain can be used to fund a studio.

5. Think About Teaching Art

If you’re an experienced artist who knows what they’re talking about, a simple way to obtain funds for the opening of an art studio is by teaching art classes in your spare time. Teaching art at an accredited university will provide you with a high salary while also opening up other opportunities in the art world that may help you open your own studio.

With these tips in mind, you should be able to properly organize and gather the right amount of funds that will allow you to open your art studio once and for all. Whether you ask a friend to send money in person internationally or are thinking about applying for a grant, there are many avenues for you to focus on when attempting to raise enough funds to open a studio.