Last Updated on Mar 31, 2021 by James W
If you are a skilled craftsperson and you love the challenge of creating things, have you ever considered turning your hobby into a business?
When you have a skill that you can sell, there may be many ways to turn it into a viable business. Here are some ideas for how you can turn your hobby into a business.
Decide on Your Niche
There may be many types of business that you could launch based on your skill, and it’s important to choose a specific niche that you enjoy and that will be profitable.
For example, if you enjoy carpentry as a hobby, there are different areas you could specialize in, such as wooden toys, a specific item of furniture like beds, a group of furniture like children’s furniture or outdoor furniture, or even something like antique restoration.
This is just the start, and there are many other options. Consider the possibilities and then research the competition and try to find out how much demand there will be for your products. Whatever you choose, make sure it has a good chance of being profitable.
Where Will You Work?
Once you’ve decided on your niche, you will have to find a place to work. If you already have a large garage, this might be enough, otherwise, you might need to rent a space for your workshop.
There may be specialist units that you can turn into a workshop, and some might even come with some equipment included. Have a look around and find somewhere local where you can work.
Invest in Your Tools and Equipment
As a keen craftsperson, you will probably already have a good amount of equipment. But when you turn your hobby into a business, you might need some more equipment that is of a higher quality, or even specialist machines.
You’ll also want to find a good supplier of components for everything from screws and nails to tile and glass drill bits, which you could find at a supplier like RS Components.
Once you have a good supplier, you can continue to use them to supply all your components and make your life easier.
Set Up Your Business
Once you have a niche, a workshop, and your tools and equipment, you can get going. You will need to sort out the business side of things, which might include getting funding, sorting out your insurance, getting any permits, and doing all the paperwork.
You may want to hire an accountant to help you, and you might also want a lawyer as well.
Market Your Products
Once you get going and you are running your business, you’ll need to find customers. Unless you have your own store, you’ll need to market your products to get them in front of the right people.
There are many options here. You could set up a website and sell your products online from your web store, get a presence on social media, advertise in local stores and publications, make contacts with store owners, or consider setting up a stall at local markets and fairs.
Make a Success of Your Business
Turning a hobby into a business is a dream for many people. If you want to do this yourself, start slowly, research your options, build up your equipment and tools, and start selling your products.
If you have a passion for your craft, there is no reason you can’t make money from it, so start looking at your options and get your business off the ground.