Making Money from Hobbies

All of us have interests in life, be it watching football, stamp collecting, bird watching. Whatever it is, most of us find that it costs us money rather than earning from it. Having a season ticket to follow your football team for example can be an expensive business, taking a big chunk out of your earnings. However some hobbies can earn you money, making cakes being one that perhaps starts off as an interest and turns into something to supplement your income. Here are a few examples of hobbies that can be profit making rather than profit destroying.

Dog walking

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Many who have full time jobs and busy lives no longer have the time to walk their own dog, so have to pass that job onto somebody else. Dog walking is a pleasurable hobby for many so, if you love walking your dog, why not take a few more along with you, charging a reasonable amount and making some money out of it? It isn’t as easy as it sounds and you will need to have had suitable checks and insurance, but, if you love animals, this can be a rewarding and fun way of making a few extra pounds.

Start by walking for friends and neighbors, move onto trying to get in with an agency local to your area and ensure you have the relevant insurance and documentation.

Cake making

cupcakes
Another particular interest which has grown out of all recognition is cake making. It is now a real art and, seemingly, the way a cake looks is just as important as how it tastes. If you enjoy baking cakes, enjoy the challenge of making it look stunning then why not make a little profit out of it too. Enroll in courses in your local area or find classes online. If you are to make a go of it at home there are certain food regulations and preparation rules which you will have to adhere to.

Poker

poker
Poker is another activity that can turn from hobby to career if you have the required dedication and the skills to make a success of it. Examples like Chris Moneymaker, the amateur player who notoriously won $2.5 Million in the 2003 WSOP and has since been playing professionally, showed the whole world that poker can be much more than a hobby if you are only dedicated enough.

To delve into the world of poker can be a rewarding experience, but poker is a game that requires much more than luck. Real skill is involved and those who excel at it have the necessary strategic thinking and emotional intelligence, which are vital in everyday life too. If you are planning to take things to the next level and want to give professional poker a go, the way you play poker can serve as a reliable indicator into how you will fare in business too. As in business, experience is vitally important, as is learning from your mistakes. If you keep your cool and don’t let your emotions lead you to making any rash decisions there is no reason why you shouldn’t be able to turn your hobby into a successful business.

Writing

writing

Many of us enjoy writing, whether articles, speeches or even books. If writing is a passion of yours, why not consider making some money out of it? Magazines and newspapers often employ freelance writers for particular tasks but in recent years, with the explosion of the internet, there are now huge numbers of websites which also employ writers, again usually on a freelance basis. Again there are a vast number of courses to take to improve your skills though only go for reputable ones, perhaps through a journalism college if you have one nearby.

Coaching sports

coaching

If you’re good at sports but not quite good enough to turn professional then coaching may be an option. Generally you will need qualifications for this, though if you start off just helping at a local club or association, this may not be necessary. To coach independently however you will need a minimum standard of coaching to lead to a sports-specific coaching qualification.

One Response to Making Money from Hobbies

  1. I took a hobby (music) and have created a side hustle from it. I have a full-time corporate day job, but I started a mobile DJ business three years ago. I love music, and have been a live musician for over 25 years (drums, electric bass, alto sax, piano, acoustic guitar at various times). I think my favorite though is being a DJ. I am an open format, live mix DJ, and use either “old school” turntables or “high tech” Pioneer gear. I do 30-35 weddings per year, and also do school dances and corporate events. A nice thing about treating your hobby as a business is that you can then legally write off business expenses, such as mileage, fuel, auto maintenance, equipment that you need for your business, office supplies, cell phone, internet access, etc. Obviously, you do have to try to make a profit, and should talk to a tax professional for your specific situation, but it’s nice to be able to pay for things that I would want/need anyway, with money I earned from my business which started as a hobby. :)

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