Three ways to turn your hobby into income
Almost all of us save the true workaholics have hobbies. But have any of us really ever thought about monetizing these hobbies? Actually turning them into revenue generating activities rather than revenue draining activities? Or at least making a little bit of money to offset the cost of the hobby? Below are three ways to turn your hobby, whatever it is, into income.
1. Sell your wares
This is the obvious answer that most of us think of when we contemplate monetizing a hobby. All kinds of activities such as knitting, photography, carpentry, pottery and doll making produce tangible goods that can be sold. Potential sales venues can range from local craft stores to worldwide via the internet.
2. Write about it
What if your hobby doesn’t produce anything tangible? What if you are a cat fancier, a philatelist, a numismatist, or a model car collector? You certainly don’t want to sell your pet or your collections. Or what if you’re a gym rat? You can’t really sell that toned physique. Then do the next best thing, sell your knowledge. This is most easily accomplished by finding avenues to write about your hobby. Blogging is an obvious choice but probably not the best if you aren’t willing or able to write frequently. Consider writing articles for specialty magazines or popular websites about your hobby. If your columns are well received you could easily be asked back and maybe even become a regular contributor. Another potential option is to write a book. Look into traditional publishing, self-publishing and writing an e-book to see if any of these might be a good outlet for your knowledge.
3. Teach a class
If you consider yourself an expert in a given field you might want to try your hand at teaching it. Most communities have adult or continuing education programs that you could participate in. Look them up and see if they already have instructors teaching in your field. If they don’t, then contact the programs and see if they might be interested in allowing you to teach a class. While teaching a class may seem particularly onerous, keep in mind that many of these kinds of courses are only a handful of lectures (1-4) long. If that doesn’t work consider advertising your new class or lecture through a local hobby club or put up fliers at area hobby shops.
Whether you are selling your products or your knowledge keep in mind your customers. Deliver the best quality product you can to them and they’ll reward you by coming back for more and directing their friends and relatives to come by as well.
