Artist Mark Fussell said the store is well known for its quality art supplies.
“I think a lot of people will recognise it from the fact it’s a craft store, it’s the first art supply store I’ve been to in Melbourne,” he said.
“We’ve had great sales, and a lot have been on the back of the fact that they have the highest quality products in the city, and I think that’s what attracts people to come here.”
But he said he could see the store getting a little less popular, and he hoped the owner could take some steps to change the business model.
“You’d have to look at it, but I’m really hoping they get to that point, so they can get to the point where they can have a good sales and a decent price point,” Mr Fussel said.
The Art Supply Store has already been open for a year, and has grown into a boutique shop with a focus on local art, and art supplies from around the world.
The store is currently selling supplies for weddings, parties, parties for children and other events, but Mr Fusessell said there were plans to expand beyond that.
“That’s always going to be a challenge, but we’ve got a few different ideas,” he told 7.30.
“One of the big things that we’re looking at is getting more into the artsy, creative arts and making sure that the products we have here are not only affordable, but also very high quality and in a very nice store.”