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.
