Hi Mike,
I've been selling prints for years and have wanted to open my own gallery but there never seems to be the right situation. It needs to have great lighting, needs to be cheap to rent and have high volume. Full markup is 400%, then you can discount if you want.
Since I live in a small town, I'm near Cortez, Co. the volume is a little low and places to rent are old, and over priced.
I sell 24x30's mainly framed and matted, do my own framing but can't sell them for $195. I use Tru-Vue non-glare glass and Larsen-Jule frames selling for $750.00
I hang in a restaurant in Cortez, not great but big enough to show 30 pieces, which I rotate out throughout the year.
I've gone to canvas which I can sell for about half the framed ones and don't have to worry about glass problems but do have to worry about wafting grease. I do have to clean glass occasionally, which worries me about the canvas being somewhat unprotected.
Doing shows can be a big secondary revenue generator but you have to want to travel with all the necessary equipment. Big truck or van and trailer, tent, tables etc. I figured I'd need a double 10x10 space to show larger pieces. Then you need to print more sizes to have multiple price points.
And then I'd be divorced cause my wife doesn't think that is a life style she wants.
It's a tough nut to crack. Good luck.