What if you are to find out right now that your favorite hobby and your job could become the same thing? The crafts you make can become your primary or secondary source of income depending on how much time and effort you’re willing to put into it. All this whilst still working from your couch! Yes, you’re right, this is pure bliss.
One of the first things you’ll have to do is to gather around you an appetite for your little products. If you want to turn your jewelry-making or knitting hobby into a business, two of the few things you can do to enable this transition is to change your packaging into something sleeker and create an online presence. You may do a quick search on the internet regarding the tools you’ll need for this and you’re all set to go.
The advantages of making homemade gifts a business are boundless, but here are five income benefits to help convince you that your hobby can really become bigger and earn you more than you think it can:
- Your Business Will Pay No Rent
As you should expect, your couch will be your office-cum-workshop, and your warehouse will be somewhere under the same roof. It doesn’t usually get better than it will as soon as you decide to make your crafting hobby a business. This means there will be no rentals to worry about. Your business will remain your extension just like how it used to be when it was a still non-monetized hobby. The fact that it shares space with you and still brings you money at the end of the day is like getting a new roommate who buys all the groceries but never eats at home. Awesome!
- You Don’t Have to Worry About Transport Costs
If you live in a big city, it already goes without saying—transport costs to go to and from work can really add up to a big deal. This is true whether you use public or private transport. If you use public transport, it’s loads of money poured into traveling to work, plus the public transport hustle. If you use private transport, it means even more money for fuel plus the nightmare of weaving through traffic.
By starting your homemade gifts business, you’re removing a huge expense from your monthly financial obligations. It might not seem like a lot at first but at the end of 12 months, calculate how much you would have saved. You’ll be both happy and proud of yourself!
Besides relieving you of financial stress on a personal level, it also grows the business itself by extension. Now you can buy a few more items for your new business using the money you’re saving from not having to travel.
Because the money is going into the business, it means you’re not just saving money, you’re growing it and that’s always financial good news!
- There Is A Huge Market
When deciding to turn your craft hobby into a homemade gift business, one thing that you can depend on is the availability of a market that would patronize your venture. People like giving tokens to themselves and others around as a form of celebration or appreciation, especially if they’re personalized gifts. And because you control every part of the production process, your homemade craft business is correctly positioned to cater to those clients that need customized gifts.
This makes your business very dependable in terms of income generation. All you’ll have to do is keep doing what you’re most likely already doing anyway, which is make a fabulous set of crafts. Take this further by packaging them in a way that reflects your target market’s wants. Then, take your product online as well as to other in-person marketplaces.
The particular appeal of your business is in the fact that you’re making your products by hand, all by yourself. You can build those facts into a very beautiful brand story that resonates with the general sentimentality engrained in the personalized gift industry. Check out tips on the craft business and see how others are doing it. See how they’re connecting with people interested in their particular products. You can help your gift business take off by positioning yourself well in the market; soon, you could make this your primary source of income.
- You Are One Huge Moving Advert
When doing this full-time or at least most of the time, your business quickly becomes an inseparable part of you. If you make unique beads, for example, chances are more people who associate with you will begin to see you either making your beads somewhere or simply wearing them. This is a good thing because it builds the interest of potential consumers in your craft business. Add to that the word-of-mouth effect and you have for yourself a market that has been right next to you all along.
It’s quite probable that until now, your hobby has been a private indulgence for yourself and a few other close connections, but that can change. The good thing is it really doesn’t take a lot. You won’t even need to get a portion of your income to spend on traditional or digital advertisements. Using or wearing your own crafts more often could be all the first step you need to make to let others know of your new venture.
You want to ensure that the people in your community are a sizeable fraction of your first clients. This will make sure there aren’t too hefty shipping costs involved in the initial stages of your undertaking. Plus, there’s a chance you already have friends who know people who want to buy your product. Only if you let them know you have it, somehow.
You’re the community billboard for your brand-new business, walk like it.
- You Can Grow Your Business Faster
Forget the hustle of trying to assemble a team. You are the team! Of course, if you do have an extra pair of hands for the work, that would be great and helpful, but you really can do everything on your own for now. It will get more hectic as the orders begin to increase but it’s totally possible to be both the hype man and the player for now. You’ll definitely steer clear of the headaches you may get from another financial responsibility.
Since you’re doing almost everything yourself, you don’t need to worry that another person, in addition to you, is depending on the business for their livelihood. As a budding business, your homemade gift business will need as much space as possible to grow without having much financial obligation. It’s just good that starting a homemade gift business gives you the flexibility that you require to increase your earning potential.
Because you’re all the ‘team’ you need to start, this also means you can start building your business immediately. As you keep the overhead expenditure of your new venture at a minimum, you’ll be able to allot a portion of the profit to growing your business and the rest, to supporting yourself.
- Financial Freedom
Finally, imagine a merit system that actually works. What you put in is exactly what you get. This can be quite your much-needed break from working in the corporate world. The rat race can be very demotivating—being undercompensated while very hectic at the same time.
You want a place that rewards you in direct proportion to the amount of effort you’re putting in, or maybe even greater. This is where starting a business of selling homemade gifts will be perfect. It’s simple; if you put in more hours, it means more crafts and improved quality. It also means more clients as you invest more time in connecting with the market for your gifts. This results in more sales and therefore more money coming into the business and to your bank.
So, if you’ve been dreaming of a bank balance that reflects your efforts, turning your crafts hobby into a business is one of your best shots.
You don’t need to rely on your current source of income alone. You can easily turn this into an additional and more stable source of income should you dedicate enough time to it. Financial peace is a possibility and you don’t have to invent a new thing to get it, just growing that hobby you already have into a full-fledged business will do.
Now is a very good time to launch your homemade gift business, mainly because all it needs is you to be willing enough. You’re not going to need any specific new thing to start your business. You’ll only need to buy some things that are necessary both for the preparation and the launch. It’s even easier if you think of it less as a launch and more of doing what you’ve already been doing—it’s just that now you get to do it with the front door open, ready for the world to see. Go and make that leap!