New pricing model I’m trying (learned it from my landlord)
Hey all, I’ve been looking for ways to create more predictable recurring revenue instead of only getting paid once when a frame leaves the shop.
It occurred to me that landlords solved this problem a long time ago, so I’m testing a similar model for custom framing:
Instead of purchasing the frame outright, the client pays:
- a nonrefundable design/application fee
- first and last month’s frame rent
- a security deposit
- monthly rent based on frame size, moulding, glazing, and wall location
The client owns the artwork, but the frame remains my property. Museum glass is treated as a premium amenity and billed separately.
The initial lease is 12 months. After that it converts to month-to-month, and I can adjust rent based on moulding costs, inflation, and comparable frames in the client’s neighborhood.
I’ll perform an annual inspection to make sure the frame hasn’t been painted, modified, exposed to excessive humidity, or occupied by an unauthorized second artwork.
Clients are responsible for routine maintenance and minor repairs. Structural issues with the corners should be submitted through the maintenance portal, and I’ll arrange a service window sometime between 8 a.m. and 6 p.m.
Hanging above a fireplace, placing the frame in direct sunlight, or using unapproved wall hardware may violate the lease.
At "move-out", the frame must be returned in its original condition, less reasonable wear. Nail holes, fading, dust, pet hair, and earthquake damage will be deducted from the deposit.
I’m also considering a frame-to-own program where, after 30 years of uninterrupted payments, the client gets the option to purchase the frame at its current market value.
Has anyone else tried this? I think clients may appreciate the lower upfront cost and the flexibility of never actually owning anything.
;]