Yes, you can turn your weekend hobby into cold, hard cash to purchase that big-ticket item you want, like a new car or a vacation getaway.
Because of the pandemic, many of you now work from home. The time spent commuting and listening to podcasts has disappeared. You can start turning that hobby into an income stream.
Read to find out the best hobbies for generating cash and follow our simple guide to turn your hobby into a means to splurge – for more information visit here.
You enjoy working with your hands and making candles, soaps, jewelry, knitted scarves, and any other do-it-yourself items. You usually give them to your friends and family at Christmas and birthdays, but why not spread them a bit further and reach out to the world?
Make your items one-of-a-kind and exciting to attract customers looking for that one-of-a-kind gem that they can’t find in their local department stores. Etsy is an excellent place to start selling.
As an artist, you know your way around power tools, and your garage is your domain. You like creating things.
From small items like cutting boards to furniture pieces, what you enjoy making during the weekend could be in someone’s house, bringing money into your pocket. Your skill level needs to be up to par. What you build will require a professional structure and finish.
No one needs an expensive camera anymore to be a photographer. You all have a smartphone with a powerful camera capable of taking stunning photographs. Try to find that unusual angle or a niche not filled yet.
Do your friends and family rave about your cooking? Maybe you’re on to something. You can start a blog, or an Instagram account, dedicated to the unique recipes you want to share with the world.
You can also begin cooking and selling your food at local farmers’ markets. In this case, it will help you find customers and get real-time feedback on the viability of your business.
You might also want to consider a catering company. On DoorDash, many companies are offering their in-home cooking items like they are normal brick-and-mortar locations. During the pandemic, some of these at-home cooks and their interesting menu items became cult spots. In short, don’t despise the day of small beginnings—you could turn your in-home cooking into a restaurant.
If you have a way with words and enjoy telling stories, why not make some money from it? Whether you write poems or novels, you can now bypass publishing companies by using the available self-publishing options. In addition, you can start a blog and establish yourself as an expert on a subject. You can also rent out your skills and write for others using sites like Upwork.
Are you someone with a talent for drawing or painting? If you answered yes, you could establish yourself as an artist. You can start by selling your art at local fairs and finding out what customers your work attracts.
Additionally, you can also put it on T-shirts, mugs, or other everyday items and sell them. If you prefer, you can work as a freelancer as well. Sites like Fiverr can help you find clients in need of your skills.
PRO TIP: Specifically touching on Fiverr for a minute, this site is great and can really be a huge income-generator if you do good work. Like any of the sites highlighted here, you should treat Fivver like a normal job. Your name carries value and you should treat all your potential clients with professional courtesy.
Remember: they will leave you a review. If you stack up a solid set of reviews, it will boost your rankings and you will get more quality jobs. Furthermore, you could also charge more per job, which is a plus!
You want your hobby to generate cash. Follow this simple guide to turn your hobby into a money-making activity.
If Your Hobby Becomes Your Work, Is It Still a Hobby?
Before anything, keep in mind that a hobby is an activity you do when you are not working. Any free time is precious.
Whatever your pastime is, you usually do it because you enjoy it, whether it relaxes you or gives you a deep sense of accomplishment. If you turn your hobby into a business, what you will get from it could be completely different and even stress-inducing. The goal is not to get a second job.
From Your Neighbors to the World
You’ve been selling the items you’re making in your garage or your spare room to friends and neighbors. Now you think it’s time to go to the next level. Your first step is to write a business plan.
Then, you will need to research and find out your target audience and who your competitors might be. “Homemade” is trendy, and people will pay premium prices for unique items not manufactured industrially.
Now You Are a Business
Creating a professional business structure like a limited liability company (LLC) will protect you and shield you from specific debts and liabilities. A professional setup will also appeal to prospective clients.
A business plan is often required if you intend to ask for a business loan, but it is still necessary even if you will not be looking for a bank loan. If you are making money from your side hustle, you are a business.
If It’s Not on Instagram, It Didn’t Happen
In this day and age, you need to have a web and social media presence. Several platforms like Wix and foursquare, allow you to set up an online store quickly and cheaply.
However, you will still need some minimum computer knowledge, or you will have to hire someone to set up your online store and keep it updated. Nowadays, most people check social media for new and trendy items and prefer to shop online.
Of course, while doing something you love is fun, it can always turn into work. So, if you do decide to turn your hobby into a source of income, make sure you take things slow and have a plan.
You don’t want to burn yourself out during your free time, and then have to work your day job. Be honest with your limitations and how much time you can spare. Set boundaries and maybe once you buy that coveted item, take a break from all that hard work!