How to Cash in on Your Hobbies
Virtually any hobby can create profits without tremendous overhead or ridiculously high start up costs. What's even better, you aren't required to have a specific product to sell! In fact, you can make your knowledge of your hobby your product. To cash in on your hobby, choose a hobby that you enjoy and are skilled at. Then, monetize your hobby by selling a product or service. You can also make money by teaching or sharing knowledge. Once you begin making money from your hobby, you will need to manage your new business.
Selling Your Services and Products
Provide materials for your hobby.One way to think about monetizing your hobby is to consider some of the things you spend money on while participating in your hobby. For example, are there any materials that are required? Perhaps you could make money by selling the materials necessary to participate in your hobby.
- If your hobby is jump rope, you could try selling specialty ropes, such as beaded ropes, wire ropes, rope handles, double dutch ropes, etc.
Sell products online or at a craft show.If you have decided to make money from a craft-based hobby such as candle making, sewing, knitting, or painting, you can sell your products online through craft websites such as etsy.com. Alternatively, you could set up a booth at a local craft show, church sale, or farmers market.
Create a freelance business.You can also sell your services by doing freelance work for already established companies. If you enjoy writing and reading, you could create freelance articles for magazines, or engage in editing and proofreading for a variety of publications and websites. Alternatively, if you are an expert in web design or social media, you could help create websites for small businesses or run social media accounts.
- Try reaching out to small businesses and let them know about the services you supply.
- If you're a writer or artist, you could try submitting some of your work to a local newspaper, magazine, or contest.
Teaching and Sharing Your Knowledge
Consider teaching your hobby or skill.Some hobbies, such as playing an instrument, speaking a foreign language, writing, and drawing require some level of skill. You may be able to monetize your hobby by teaching others these fundamental skills.
- For instance, you could provide in-home lessons or partner with a community or recreation center and start teaching classes.
Share your knowledge in a book or blog.You can also make money by sharing your knowledge or passion through writing a book or blog. For example, if you have a passion for sports, cooking, parenting, sewing, dog training, reading, etc you could start a blog that focuses on that topic. As you get more followers some companies will pay to place ads on your blog. You could also self-publish a "how to" book that teaches a specific skill.
- Before starting a blog, research other similar blogs to see if there is a niche market available that you could tap into. You may find that there are multiple blogs about cooking, but few that focus on gluten-free cooking.
- To attract advertisers to your blog try writing product spotlights, partnering with other small companies to do giveaways, and ask your readers to give feedback on certain products.
Start a vlog.You can also make money through video blogging. If you are great at video gaming you could create a youtube channel or vlog that shows others how to beat video games. Once you have enough views you can start earning money from advertisements that play before your video.
- Alternatively, you could create demo videos that teach how to sew, knit, or cook.
Managing Your Business
Advertise on social media.A cheap and easy way to advertise your new business is through social media. For example, you could create a Facebook page, an Instagram account, or a Twitter account. This way you can promote your business for free and easily reach potential customers. Begin by following all of your friends and family. Then, you can expand your business through word of mouth.
- Make sure that you post frequently on social media accounts.
- Connect with other similar businesses to help spread the word.
- You can also advertise your small business through your local newspaper, a website, or message boards.
Keep financial records.You are required to keep track of any personal income you earn from freelance work. As a result, you must maintain financial records of any cheques or cash you receive. You should also keep track of any business expenses. For example, if you need to purchase any supplies keep the receipts. These can be filed with your taxes and will help to reduce your taxable income.
- If your business grows, you may want to consider hiring an accountant or book keeper to track your finances.
Set realistic goals.When you are creating a new start up business from your hobby, it is important that you understand your goals and then build from there. You are likely not going to begin earning a lot of money in the beginning. As a result, you should keep your regular job, until your hobby begins earning enough money that you can afford to live.
QuestionI make a wind chimes out of snail shells, I was wondering how I could sell them in consignment shops. How can I get this going from home myself, as I have no computer skills whatsoever?wikiHow ContributorCommunity AnswerYou'd need to identify which shops would carry your wind chimes. Most likely that would be art and craft gallery style stores, stores that sell local crafts to tourists and stores that carry quirky gift items. As for selling online, you say you have no skills but you're using the medium of the internet, so that's a good start. Etsy would be a very good site to familiarize yourself with, to start a store there and sell your unique craft to others online. However, snail shells are very fragile, so you'd need to know how to package them for safe mailing, and you'd also need to be aware that you could not send such a product to countries with strict biosecurity requirements.Thanks!
QuestionMy hobby is building on Minecraft. How could I possibly cash in on this?wikiHow ContributorCommunity AnswerYou could do YouTube tutorials and monetize with YouTube. Show your unique take on building within the game and give excellent explanations, do a lot of work to get fans and then watch your channel grow. In time, you could be an expert many turn to, and that can earn you money through viewer amounts and tie-in product promotions. You could also make ebooks about your suggestions for building but you'd need to be careful about properly referencing everything.Thanks!
QuestionMy hobby is reading. How can I make money from this?wikiHow ContributorCommunity AnswerYou could start a blog that focuses on reviewing books. You could also try submitting freelance book reviews to your local newspaper or other online publications. Alternatively, you could tutor young kids and teach them how to read.Thanks!
QuestionI like to play Basketball or games like Black ops 3 and CS go. How can I make money from these hobbies.wikiHow ContributorCommunity AnswerYou could make money from coaching or refereeing basketball games. For video games, you could try testing new video games and providing developers with feedback. Alternatively, you could start a youtube channel and film yourself beating video games and unlocking secrets within levels.Thanks!
QuestionMy hobby is drawing. How can I make money off it?Community AnswerYou can sell your art! My hobby is also drawing and I plan to sell my art on Etsy. If you paint, then that is probably worth extra money (especially if you paint on canvas).Thanks!
- In order to make money from your hobby, you need to have a certain level of skill. Choose a hobby that you are good at.
- If you need to maintain your regular job, try not to talk too much about your side business at work. Your boss may think that your side job is taking up too much of you time or distracting you from your regular job.
Video: Cash in on your favorite hobbies
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