Wanting to start a small business in a niche market, but am a little worried that I don't know what I'm doing. entrepreneur how earn by blogging blog

Hey entrepreneurs! I've gotten myself into an interesting situation where I have motivation, financial stability, and an idea for a business, but I've never so much as ran a lemonade stand. I'll try and keep it short.

The plan is to run an art rental company that allows customers to pay a fraction of the full cost of a painting to try it out before purchasing. There are a few other target audiences, including other businesses such as restaurants that like the idea of changing the art on their walls to match the season, or people who like the idea of having different pieces every month.

My thinking is that even if it isn't terribly successful, it wouldn't cost me too much to try. The artists would work on a percentage of the income their pieces create, there would be no storefront to pay rent on (all online), and the only "employee" would be myself to deliver the paintings.

So with that in mind, here are some concerns:

-Firstly, do I need insurance to cover the artwork? Or could I go off a "you break it, you buy it" policy? If I did need to buy insurance, are we talking an arm and a leg or is it manageable?

-With the above point, I'm considering talking to a lawyer to work that and other issues out such as taxes and so fourth, but I'm worried about this costing a boatload as well. Is it strongly recommended, or is this something I can put off until I make some money?

-Another thing that would be easily answered by a lawyer, what kind of contract should I have artists sign? Does it need to be extensive, covering all my bases, or can I work with something simpler just for the basics?

If the answer to these questions is "I don't know, just ask a lawyer" I get it and appreciate the honesty. But if anyone has any wisdom here, it would go a long way in helping me make this idea a reality.

Thanks!

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