EARN FROM YOUR HOBBY; TOP biz TIPS.
One in 10 UK adults has a hobby they make money from, according to Visa Europe's Everyone in Business report.
These hobby entrepreneurs have turned baking, design, photography and other pastimes into small businesses generating nearly PS2,000 a year on average. Kevin Jenkins, UK & Ireland managing director at Visa Europe, offers five things to consider to help turn your hobby into a business: WHAT TO DO Most of us have at least one hobby, so consider if it could make you money. If you don't think it can, think about another product or service.
WHEN TO DO IT It can be hard to juggle a day job with running a small business on the side, particularly if it involves making things, such as jewellery. Before you start your venture commit to setting aside certain times during the week for running your hobby business - that way you'll quickly get into a routine.
WHERE TO SELL There used to be two routes for hobby entrepreneurs - selling to friends and family and selling at street fairs and markets. The internet has opened up a whole new world of opportunities, allowing you to sell across the UK and indeed the world. Setting up a website is definitely worth considering.
WHICH WAY TO PAY: Cash would traditionally have been the primary payment but more and more people are using cards instead so this is worth thinking about. New payment technologies make it simpler, faster, and safer than ever to accept electronic payments.
HOW TO PROMOTE: Publicity can drive sales and there are several ways to do it, from online advertising to raising your profile in the local media and using social media. More than half of hobby entrepreneurs we spoke to told us they now use Facebook and Twitter to raise awareness of their business and latest products.
Are you a Roadie, Trendseeker or Crafty Creator? Find out at entrepreneurs.visaeurope.com
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|Publication:||The Mirror (London, England)|
|Date:||Nov 19, 2014|
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