Startup

How to become a Hotel Art Supplier

How to become a Hotel Art Supplier

Almost all hotels belonging to any genre have work of art put up in the lobby, corridors, and guest rooms, restaurants, and banquet halls, beauty parlor, Spa and the management office spaces too. One may not be an artist himself but with growing number of hotel art Supplier in the market and the demand for elegant good-looking hotels on the rise, supplying hotels with artistic renditions seems to be a lucrative business in India.

This is one of those businesses that one can start on a part-time basis and work from home. The best way to go about this work is to:

• Identify and shortlist about 8 – 10 upcoming artists and painters whose work seems to be well accepted by the common public and artist bodies. Discuss the rates and other commercial details during the shortlisting
• Prepare a professional presentation giving brief details of the artist and dwelling in details on his work. Click high-resolution pictures and collate the same into the presentation.
• Alternately one can also tie-up with 2 -3 art shops that already have a good stock of paintings and you can work on a commission basis with them.
• Set up meetings with the owners of hotels and the purchasing department, senior management to showcase the sample paintings and the presentation.

What does the Industry Trend Indicate about the Potency of this Business?

The quickest way to achieve success in this business would be to target new start-up hotels that are still in the construction stage or old hotels that are starting on a complete renovation of the interiors. Making a pitch to such hotels at the right time will ensure faster conversions.

As per figures available, in 2017, Indian art (classical and contemporary) was worth $ 250 million of which $ 98 million belonged to the contemporary section. It has been estimated that the Indian art industry has grown at the rate of about 15% from 2012 to 2017.

The Indian hotel art supplier industry, on the other hand, is expected to be growing at an annual average rate of 7% from 2018 to 2028.  Market share of international hotel chains is estimated to be about 47% in India by 2020 and 50% by 2022.

What are Legal Compliance that the Business Owner of Hotel Art Supply Business needs to Procure?

While the dynamics of this business is quite simple and does not necessarily require hiring an office space still there is little legality that needs to be fulfilled by the business owner to start operations and receive payments.

While the first step certainly revolves around firming up the name of your company and deciding the logo and Trademark Registration the next few steps requires the organization to obtain the following registrations:-

2013. Business Registration is important. One can opt for company registration and obtain a Certificate of incorporation from the Registrar of Companies and establish its legal identity. The incorporation is done under the Companies Act 2013. Under this Act, the company can be registered either as a private company, public company or one-person organization.
2014. Udyog Aadhaar registration with the Ministry of Micro, Small and Medium Enterprises. Like the individual Aadhaar card, this is a twelve digit number for MSME businesses and the registration for the same can be done online, free of cost.
2015. Obtain the trade license or Gumasta license from the municipal corporation of the state where the business will operate from – whether it is your residence or office. It is basically a permission by the state government to carry out the business after verifying that it is not going to adversely affect the health of the citizens in the locality and the operation is being done in a legalized manner.
2016. Registrations under Goods and Services Tax (GST) – as per the law, GST registration is mandatory for businesses that run across state borders. Even if the initial revenues may not be beyond the threshold limit of Rs. 20 lakh per annum, this registration becomes mandatory for the hotel art supplier because on one hand the business will procure artworks from artists across the country and on the other, sell it to hotels that are spread in different states. The biggest benefit of GST is the input tax credit benefit that the business gets on the filing of tax returns.