2019 was the year of turning a hobby in to a side hustle, and as we enter into a new decade this trend is set to continue. With 40 per cent of entrepreneurs turning their hobby in to a bone fide start-up this could be your year to do the same.
Why have a second income?
It’s no secret that the cost of living has increased, and with global economic uncertainty it’s no bad thing having a second stream of income that you can put towards savings, your pension or simply spend. And the best bit, if you’re turning your hobby into a side hustle, you’re already doing something that you love – only this time, you’ll be getting paid for it!
What creates a good side business?
Interior décor and jewellery are always industries that make great side hustles. Whether you make bespoke ceramic pots or cool contemporary earrings, creating things that can be bought for the home or make good gifts will always sell.
Scented candles as well as homemade soaps and shampoos aren’t going away anytime soon either and using natural ingredients like soy wax and essential oils and are often relatively inexpensive to create.
If you’re handy with a paint brush, upcycling furniture with chalk paint can create amazing one of a kind pieces, and as people love to change their interior style regularly, if you’re able to give furniture a fresh look you’ll soon have a lucrative side business.
What do you need to take your hobby to the next level?
Chances are if you’re thinking of turning your hobby in to a side hustle it’s because you enjoy it, and this passion will help set you apart.
Besides passion, you’ll need to invest in some equipment that will not only help your hobby look more professional but will help you create things on a larger scale too. Companies like SGS offers a vast range of equipment for DIY enthusiasts, semi-professionals and professionals allowing you to turn your hobby into a major side hustle.
Similarly, if you’re looking at turning your writing hobby into something more, you might want to invest in specialist publishing software.
Where to sell or promote side hustle?
Once you’ve decided you want to turn your hobby in to a side hustle it can be hard knowing how to get yourself known. Social media platforms like Instagram are a great way to start out – but ensure you create a business profile and not just advertise on your personal account.
If you sell physical goods take your items to independent stores and ask if they’ll stock your products. If you’ve written a book, consider self-publishing, and don’t forget to tell friends and family to have a read and write a review.
There are plenty of ways to get your side hustle out there, but like everything it takes time and dedication. If you have the passion and drive, go turn your hobby in to something more – you’ll soon start reaping the rewards.