Turning Your Hobby Into a Business

Do you enjoy painting? Do you make quilts in your free time? Do you dabble in woodwork and create unique designs? Maybe it’s now time for you to turn that hobby into a business and we are here to show you how. Make a start by selling your creations at craft fairs and small shows. This will give you an opportunity to find out if your artwork is good enough to set up as a successful commercial business. At these events, you can find new customers, advertise your business and assess the viability of starting off your own venture. The best part is that it involves little cost and no overheads! Local shows typically charge just a few hundred dollars for a booth and you can make profits that don’t need to be shared with a gallery or store owner.
But a word of caution; making money at small scale events isn't as easy as it seems. Like everything else, it requires research and planning. Only if you have what it takes, should you plan to upgrade your hobby into a business. Follow these 5 tips to success.
1. Is your work ready to be displayed? First things first, you need to find out if your work is good enough for people to buy – and by people we don’t mean your relatives. Assess your own quality objectively by attending a few shows and comparing your work to that which is being showcased.
2. Do you have the right venue? Ask other artists who regularly participate in such shows. An indoor art show might right for paintings, but an outdoor craft fair is just fine if you’re in the jewelry business.
3. Have you done your homework? And you thought turning your hobby into a business was all fun and games? No way! It takes plenty of grunt work, which also means that you have to understand your future customers. Find out who attends such shows, what kind of turnout is to be expected and how much it will cost to exhibit there. Apart from the cost of booth space, you need to factor in costs related to travel, shipping and display. Depending on the city or state the show is in, you may also need a license or permit to sell.
4. Have you controlled costs? While you're establishing your reputation and building a fan following, keep your expenses at a minimum. You could start off by renting or borrowing a booth from another artist instead of buying your own. Another option is to share a booth. It is better not to invest a lot of money tying to turn your hobby into a business until you're sure it's going to work.
5. Have you reached out to customers? A smile on your face and willingness to answer questions will go a long way in bringing in new clients. Be willing to talk to people and allow them to handle the merchandise – let them see for themselves the quality of your work. Shows are a great way to develop your customer database. Collect mailing and email addresses and send invitations for your next show.
Do not be disappointed if your first show doesn’t end up making lots of money. Remember, you have met a lot of people and generated interest in your work. That is the first step to building great clientele for your business. And who knows where this might lead?