Let’s see if it sounds familiar. You have your hobby, which you like to do very, very much. You are quite passionate about this hobby. So you are ready to spend a lot of money on financing your hobby. You buy materials for your scrapbooks, buy old coins for your collection or get new seedlings to plant in your growing garden. You need to plan your expenses properly so that you can have enough energy to fuel your passion. And often your loved ones – your spouse, parents, friends – simply don’t understand why you would like to “waste” your money on this hobby.
Well, you are not alone. And I’m always surprised that although so many people are willing to spend money on their hobbies, very few of them think about MAKING money from them. The very fact is that nowadays, with the help of great information technology, which allows you to get in touch with almost everyone in the world in one moment, you can generate profit from every hobby. There is a literally niche market for everyone – every interest and every bizarreness. Using the Internet, you can easily tap into these niche markets relatively easily.
So how do you turn your hobby into profit? Well, let’s simplify some things and group these different hobbies into three categories and see how you can earn money from each.
The first group of hobbies includes those that concern “production”. These include, for example, scrapbooking, soap production, candles and the like. The way to profit from these hobbies is quite simple: selling them. For many hobbyists, without realizing it, they already have a customer base. They often made scrapbooks and soaps as gifts for friends and family. From there, you can move to your product market. Instead of giving them as gifts, offer them to people at a price. Local markets and shops often serve as the best starting point for bringing your great products to market.
One Katarzyna Failor started to do the same as many soap producers. She started producing homemade soap at the end of the 1980s as a gift for family and friends. She soon experimented with colours, fragrances and patterns and began selling soap to souvenir shops and healthy food shops across the country. In just a few years, Failor has drawn in about $250,000. Now you mean it takes several years – this is not a get-rich-fast program – but people get there.
The second group of hobbyists includes collecting: rare coins, stamps, trade cards, etc. Avid collectors would be willing to spend huge sums of money to get rare collectors’ items in their hands. So this is one of the obvious ways in which you can profit from your collection. You play the role of an investment broker: buy one item and resell it at a higher price. But another way to make money from this hobby is to sell valuable information. With your knowledge of your particular hobby of collecting, you can develop newsletters and electronic magazines that people can get by paying a subscription (again, the internet will make everything simple for you to do so) or publish them for free and invite other companies to place ads on them. This would allow you to generate recurring revenues.
Finally, there are hobbies of business: sport, travel, cooking – that’s the name. Also in this case you can profit from selling information to other hobbyists. And you don’t even need to run your own newsletter or ezine; you can get paid for writing articles about them and sell them to ezine publishers. Or – and this has happened many times to many people – you can set up your own blog and put Google ads on them.
These are just some of the more obvious ways you can turn your hobby into a profit. There are more ways if you are ready to look for them. This should be your first business order: get as much information as you can. There are hundreds of thousands of people who make living a very comfortable life with their hobby alone. Many more do significant second streams of income by turning their hobby into profit. I should know I’ve helped some of them set up their own business. Now it is your turn to profit from your hobby.