Making money from your hobby is a dream for a lot of people, but it’s easier said than done. The old adage to ‘do what you love and the money will come’ is pretty much hogwash. Doing what you love won’t make you money unless you put it in the context of a workable business model.
And not every hobby can be monetised, or at least not in the exact form that you enjoy doing it. Here are a few ways you can potentially monetise a hobby and create a meaningful side hustle, or full-time business, based (sometimes loosely) on something you love.
If your hobby also just happens to be a marketable skill you can sell your ability to do it, on a freelance basis. This applies to writing, photography and design, among other things.
This can work if your hobby is a skill others want to learn, such as yoga, baking, or surfing. Setting up a surf school or yoga studio can be costly, of course.
This is a good option if your hobby involves the creation of a desirable end product, such as art, or jewellery. However this can be a challenging way to monetise a hobby.
Build A WebsiteAround ItIn many ways this can be the easiest and most flexible option. It’s easy and cheap to set up a website or blog, and if you love your hobby you’ll probably enjoy creating content about it and sharing it with the world.