How does an art gallery survive the recession? Well, a framing component helps. And so do corporate and government contracts. Those are some of the ways Boulder Street Gallery stays strong in a swooning economy.
Earlier this month, Monica Mendoza of the Colorado Springs Business Journal reported on Boulder Street's strategy for staying out of the jaws of the recession. (A subscription's required to read the entire article.) Interestingly, it didn't have much to do with wealthy, private patrons.
While the article notes that custom framing comprises about 70 percent of their total revenue, Terry and Jennie Henderson also secured a place on the government's General Services Administration Federal Supply Schedule Contractor list, which means they can bid on government contracts and get their gallery art in secure places like Peterson and Schriever Air Force bases and even the headquarters building of the U.S. Northern Command.
Back in the private sector, the Hendersons have a project with the new Mining Exchange, A Wyndham Grand Hotel, a $50,000 job that will put about 250 pieces of art in the hotel lobby and rooms.