Date of Award

2023

Document Type

MA Project - Open Access

Project Type

MA Project - Business Plan

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Lawrence Motz

Second Advisor

Brendan Burns

Abstract

NOMAD Gallery is a flash retailing business model that will seek to attract consumers with discretionary spending power but are unfamiliar with highly curated art experiences. Despite its size, the art market today is not easily accessible to younger generations, as it possesses several structural barriers to access (such as the need to know and develop relationships with Art galleries and curators). NOMAD Gallery’s value proposition is anchored on sharing culture and democratizing the access to art through playful and interactive pop-up galleries that exhibit artists from around the world in different seasonal settings and structured such that it provides a sustainable income for the artists and the
gallery. Our proposal taps into each of our co-founder’s strengths in order to host two annual pop-ups experiences (one in the Hamptons in the summer, and one in Aspen in the winter) that will generate revenue through open-call tickets, event admission, artwork sale, and exclusive merchandise. Our pop-up events will seek to democratize the access to Art by adding interactive elements to the gallery setting, creating truly immersive experiences that bridge the gap between the physical and the online settings. Our business model will minimize our costs by employing temporary and seasonal employees, while tapping into “on-demand’ service providers for general administrative needs. We expect to break-even at year 1, achieving net revenues of ~$640,000.
The ultimate goal for NOMAD Gallery is to demonstrate how innovation and
experimentation attuned to macro trends (intergenerational transfer of wealth) may help the art world to increase its connection with brands and consumers in the future.

Distinction

1

Download

Share

COinS