Imagine the two extremes. One, you live and work in the most remote corner of Africa or Oklahoma. Or B, you live and work in Loveart, USA, a large city with only one street, and your studio is on both sides of that street. The city is populated by educated affluent people who must pass by your studio every day.
If you are trying to develop a reputation you'll do better living and working in downtown Loveart. If your reputation is already made you can live and work anywhere.
There are probably people succeeding and failing from all points in between.
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Sometimes my husband and I dream about a home in the country with a barn/studio, but wonder if clients would mind driving an hour to visit us.
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My guess is that they will mind the drive, unless you are really good, then they will knock on your door in the middle of the night.