HOW TO TURN YOUR HOBBIES INTO MONEY

How to Turn Hobbies Into Income

Although a hobby may provide a pleasant diversion from the

pressures of everyday life, you may also be able to use your

hobby to earn extra income for paying bills or saving for

special purchases. In some cases, you may even be able to

turn your hobby into a full-time income. Several hobbies,

such as painting, writing, crafting, sports and photography,

can translate into business ventures.

Demand

Before you turn your hobby into a business, you must

determine whether there is a demand for what you want to

sell. For example, if you want to provide golf instruction,

join a local golf meetup group or check with your local golf

center to find out whether customers are inquiring about

lessons. Similarly, if you want to sell abstract paintings,

visit galleries in your area and research online art venues to

determine whether there is a market for your artworks.

Business Plan

Once you decide to turn your hobby into a source of income,

develop a business plan to help you chart a path to

profitability. A business plan can provide direction for the

business and financial aspects of your hobby, help you stay

focused on your business and persuade lenders and investors

to give you money to grow your business.

Instruction

Offer classes through newspaper classified ads, online

classifieds and social media websites to help people learn your

hobby. Whether you enjoy golfing, painting, writing or

crafting, you can provide instruction to others to help

supplement your income. Classes may be held at local

community centers, libraries and coffee shops, or you can

offer individual instruction in your home or the homes of

your clients.

Freelancing

Offer freelancing services to clients to make money from

your hobbies. If you enjoy writing, you can join freelancing

sites such as oDesk, eLance and Freelancer to find clients

who need online or offline content. Similarly, you can use

these sites to earn income from hobbies such as website

design, programming, photography, video production or

graphic design.

Online Auctions

Sell products you produce through online auctions. Selling

crafts, paintings, sculptures and handmade jewelry through

online auction sites can help you earn extra money, while

allowing you to pursue hobbies you enjoy. Most online auction

sites allow you to set a minimum bid amount for each of your

creations so you don’t end up selling the products for less

than you spent in materials. Because online auctions allow

you to reach national and international audiences, factor in

shipping costs when determining prices for your creations.

Blogs and Websites

Promote your products through a website or blog. You can

provide content about your hobby to help establish your

website or blog in search engines, which can attract visitors

interested in purchasing your products. You can also promote

crafts, images, artwork and other items you create and

allow visitors to purchase them on your website by

integrating a payment solution such as Zencart,

1ShoppingCart or PayPal.

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