It’s a dream many of us share – making a living from something we love doing.
We spend a lot of time in work so a level of interest, or even enjoyment, is something most people strive for. The good news is there are real opportunities to take your hobbies and make them into something profitable as a full-time business. And if you already know what you’re doing, you have a great head start.
Chances are, if you spend time doing it and it brings you joy, you’re probably also really good at it. So, if you’ve ever set your mind racing towards what you could achieve, read on and discover that turning your interests into an actual business really can be achieved.
Can a Hobby Become a Business?
There are lots of good reasons to have hobbies – from improving mental health and wellbeing to keeping busy, away from a screen and learning a skill. They can also be good little earners. You might have already taken your creations to local trade fairs and markets to sell or have a small online presence that supplements your income.
The digital print and personalisation industry is a great place for creative, independent and driven entrepreneurs to be right now, full of opportunities to develop their hobby into a full-time business. Whether you’re upgrading your equipment, optimising your time, finding more suitable premises, exploring new markets or all of the above, if you have the passion to make it work, there are so many outlets that allow you to take what you already do in your spare time and upscale it to a business. From stickers and print-and-cut graphics to personalised items of any description, if you can think of an application, chances are good that you can sell it.
Who Starts a Small Customisation Business?
Here are a few examples of the types of people we typically see starting a business out of their hobbies, but they are by no means the only ones. If you see yourself sharing some of their traits, we’d love to help you become the next success story.
- The ‘small business mindset’ – They look for unique ways to make their creations stand out, actively engaging with potential customers on social or in person and using those relationships to turn them into repeat customers.
- The opportunistic – An entrepreneur can often spot an opportunity before the rest of us, but even more importantly, they have the courage to go for it. They know when the rewards outweigh the risks, so they are more willing to challenge themselves to become successful.
- The flexible schedule – We don’t all work a typical 9-5 day so the ability to keep your own hours and work around your own schedule is a great driver toward running a business. You can turn your free time and social circle into selling products your friends, family, other businesses and online customers are searching for.
- The skillset – We touched upon it earlier, but the more you do something that you love to do, the better you are likely to be at it. People love to own things that are unique and have been created by people, rather than mass produced in massive factories, and they are willing to spend money on those products.
You don’t have to start your business from scratch. Maybe you already have a business and a customer base and want to provide your customers with more value by introducing items you produce as part of your hobby. A good example would be a small retail office supply and shipping business that uses their print and cut hobby to include branded stickers or labels with their packages. This could differentiate them from their competition by giving the customer something more than they would typically expect.
Things to Consider
Your first step will be to create a business plan covering every element of production. It will let you work out funding requirements, timescales and logistics, but it’s also an essential tool if you’re pitching to investors. These are some of the important considerations you will need to make.
- Where Will You Be Based?
Are you working from home, in the garage or do you need a premises? There are costs to consider no matter where you set up, from electricity usage to equipment, but how much depends on what you’re doing and where. Space is a premium commodity, not just for comfort but also for packaging, storing and the potential to upscale. - How Will You Sell Your Products?
You might like to get out in front of your market at trade fairs or markets and let that face-to-face relationship help sell your products. Using online marketplaces opens up a much larger potential customer base, just be aware of any fees and know that your competition also has access to the same market.
- Build a Brand
There’s so much value in a brand. It allows your customer to get to know you – not just what you can do for them, but also what you stand for and value, providing that emotional connection and trust that differentiates you from another company. It’s way more than a nice logo, a user-friendly website and engaging social content, but they are all important elements to building it and keeping it strong. - Explore Funding Options
Of course, engaging in a hobby is different from developing a business. You need to plan, create demand, then supply to meet that demand, before, ultimately, making a profit. The expenses are likely to be significantly more than they were before you turned pro, even if you had much of the equipment to start with. There are funding options that could be of use, especially when it comes to transitioning to different premises or upgrading your equipment. - Know What Success Means to You
What are your long-term goals? You know why you turned your hobby into a business and those reasons will determine what you see as success. Do you want to grow to be as big as you can be or are you happy staying small? Do you want employees? Do you want to keep the flexibility to match other interests and commitments? - Work/Life Balance
Hobbies are usually seen as a form of escapism and a way to decompress from work, so maintaining that balance when your hobby becomes your work will be especially important. Hopefully, you love what you do so much that it never becomes a problem, but separation will be an important element to many of us when making that move from pastime to job. - The flexible schedule – We don’t all work a typical 9-5 day so the ability to keep your own hours and work around your own schedule is a great driver toward running a business. You can turn your free time and social circle into selling products your friends, family, other businesses and online customers are searching for.
- The skillset – We touched upon it earlier, but the more you do something that you love to do, the better you are likely to be at it. People love to own things that are unique and have been created by people, rather than mass produced in massive factories, and they are willing to spend money on those products.
Decision Made?
Hobbies are fantastic outlets, but they are also fantastic opportunities. We spend so much of our time in work that being able to combine it with something we love can be a real privilege. Why not use your drive, your experience, your expertise and your ideas to take the next step and create a successful, fulfilling business? If you want to find out more about digital print solutions and how they can help businesses grow, get in touch with us and we’ll be happy to discuss your needs.
Content courtesy: rolanddg.eu
