There are many profitable hobbies to monetize from if the large sales of homemade and handmade products on major e-commerce sites are anything to go by. Hobbies are a great way to pass the time, relax, unwind and relieve any stress. But if you can make some extra cash out of it, why not? If you have lots of free time after work or over the weekend, why not make money doing what you love? With time, your hobby might morph into a full-time business.
6 Profitable Hobbies You Can Start Monetizing
Writing offers a wide array of earning platforms, as a freelancer or through your site. Freelancing sites like Upwork, Fiverr and Freelancer have tons of clients looking for freelance writers.
What makes writing one of the best profitable hobbies is the wide array of writing niches. You can be a writing expert for particular topics like travel, pets, business, marketing and finance. Or an expert in specific writing styles like technical writing, white paper writing, or copywriting. Freelance writing allows you to work online, from anywhere, as long as you have access to a computer and the internet.
If you are confident enough, you can start your blog. It still needs to be in a particular niche because you need your audience to trust you as an authority in that field. Blogging can earn you money through advertising and affiliate marketing.
Cooking and Baking
Yes, your culinary prowess can earn you money in more than one way. In the past, many people have concentrated on starting a food business like a small restaurant. The only problem with starting a restaurant business requires capital, which sometimes is not readily available.
But starting a restaurant is not the only way to monetize your culinary skills. Blogging, YouTube channels, and social media pages like Facebook or Instagram are great platforms for sharing your cooking ideas and recipes. As you get an audience, you can start selling cookbooks or homemade spices and foods. One of my favourite cooking shows is Marion’s Kitchen, where she has her brand of cooking products. This could be you if you start now.
Baking is another hobby you can monetize- from baking cakes to cookies, cupcakes, and customized cakes. With social media making, you don’t necessarily need a physical location. As long as you share your work online and possibly have good reviews from clients, there is a chance someone will buy your products. Many bakers start this way and graduate to baking goodies for events like birthdays and weddings. And, the more creative you are at it, the more you set yourself apart when it comes to personalised cakes. For example, I have a “cake dealer” anytime I need a personalised cake, and they never disappoint. See that book-themed cake up there for my birthday?
Or this one shaped like a bottle?
Art and Craft
Selling art and craftwork has become easier, thanks to technology. A simple search on e-commerce sites like Amazon and Etsy will give you hundreds of options for paintings, drawings, pottery, jewellery, and other art and craft items. If you love scents, crafting homemade items like candles, soaps, and bath bombs can grow your hobby into a full-time business.
You should also have a presence on social media sites where your followers can always follow your latest work and share. Get a website to showcase your portfolio, contact details and possibly an online shop. When selling your latest creations, it’s best to include the prices and contacts so prospective clients have an easy way to get in touch with you.
Do people laugh at your jokes and memes? Comedy has become one of the top profitable hobbies everywhere. So, it’s time to make your great sense of humour a money-maker. It might not be sudden, but as you grow your brand, you will get an earning avenue.
You can start by creating an account on platforms like Instagram, YouTube, Twitter and Facebook where people never pass a moment to share funny content. As you gain a wider audience, you can approach brands to do sponsored posts. Another way to monetize your jokes is by printing the best punchlines on products like t-shirts and hoodies.
Knitting / Crocheting
If you thought knitting and crocheting died with our grandparents, great-grandparents and possibly our parents, you’re dead wrong. In fact, the art is starting to pick up with the current generations as a relaxing hobby. And it’s starting to rank os one of the highly profitable hobbies.
I am sure you have seen models in knitted bikinis and summer dresses by now. If not, Olisa Kenya is an example of a Kenyan page that sells handmade crochet items. You can sell knitted and crocheted items like sweaters, scarves, clothes for pets (yes, they are a thing), shawls, socks, among other wearable items through online shops like Etsy or your social media pages. If you are an expert, you can start a blog or YouTube channel where you teach others how to knit and crochet.
While photography can be an expensive hobby, it’s also among the most portable hobbies. Cameras and gears are costly, but if you are good at it, eye-catching will often have an audience. Also, if you have a phone with a good camera, you can use it as you save for a good camera.
You can earn through photography with the below avenues;
- Sell photos online – on sites like Shutterstock, Deposit Photos, iStock, Getty Images, to name a few. Content creators and some advertising companies are always looking for royalty-free photos to use for their works.
- Wedding photographer – you know weddings are a billion-dollar industry, and nothing captures the fanciness of a wedding better than photographs.
- Nature photography
- Wildlife photography
- Travel photography
How to Start Monetizing Any Profitable Hobbies
Although all these profitable hobbies can make you money, how you run your business or side hustle matters. It’s not hard to see people try to monetize a hobby and end in debt.
If you are diving into any of these profitable hobbies, here are some tips to make it successful;
- Start by researching demand, competitors, costs, the market and legal requirements, especially when it comes to registration of the business and taxes.
- Draw a business plan – no matter how small your business idea is, a business plan is a must-have. Think of it as a blueprint that will guide the aspects of your business.
- Find a unique business name and register – I have cases of people starting businesses and failing to register. The problem arises when one starts banking or applying for tenders and has no proof of legal business registration. When registering your business, remember to protect your personal assets by making your business limited.
- Set up marketing platforms – have a website and social media pages, and remember to be consistent with your content.
- Understand the finances – do not mix your personal finances with your business finances. It’s the best way to keep track of how the business is doing financially. Open a separate bank account for your business, and set up payment processing options and accounting software. There are free accounting software for small businesses that you can use or start with a spreadsheet. If you are dealing with products, ensure you have an inventory tracking system for easier accounting of your stocks. The bottom line is to have an accounting system that enables you to track your customers and suppliers, generate invoices, receive payments and also do your taxes with ease.
Ready to Earn from Profitable Hobbies?
It’s possible to make money from your hobbies, even if it’s on a part-time basis. The above are some of the few profitable hobbies to monetize, so don’t limit yourself. If you love farming but can’t afford to buy land, lease a piece of land somewhere or do some home gardening on your balcony. Write that music, or make mixtapes and sell them. The key to success when trying to monetize any profitable hobbies is resilience, patience and a lot of marketing, especially social media marketing.