C.J. Braden • 2 Minute Read
There is an obvious distinction between something that is a casual hobby and one that is a passion that actually generates income. When a full-time job is a focus, there is fear of establishing a business from a hobby you are passionate about and you may have anxiety that the enjoyment will be lost when it is a career rather than a passion.
But isn't that the ideal situation? Is it possible to turn a hobby you are passionate about into a profession? We’re here to tell you that if you are not happy in your day job, it may be time to take the plunge into turning your hobby into a business.
While taking the plunge to start a business from a hobby you are passionate about can be challenging, there may be some clear signals that now is the appropriate time. Read on to learn the four signs telling you to turn a hobby into a business.
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1- You Already Treat It Like A Business
When you begin a new interest or strive to improve your skills in an existing activity, you may find yourself spending money on courses, books, materials, and the most up-to-date equipment. If you're spending a lot of your spare cash on your activity, consider how much of a difference it would make if you could account for these as expenses rather than using your own funds.
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2-You Already Have Prices In Place
If you currently sell your hobby's items or services and have a pricing structure that you keep to, you've already established your own value. If you're also making sales at this price point, you're now well on your way to figuring out how much money you could make if you turned your passion into a business.
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Whether you're looking at auto repair franchises, being a massage therapist, opening an Etsy shop, or running your own website, if you've set a price, you've already made the step to recognizing that you're capable of charging a specific amount. You might have even set your price too low. If you don't have a website yet and are looking to set one up think about looking for hosting space deals such as 10% off on all plans.
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3-You’re Hobby Brings In A Decent Income
This could be one of the most essential considerations when deciding to leave a stable full-time job to start a business based on a hobby. If the money from your passion matches or even exceeds your normal income or has the capacity to match if you devote yourself full-time, it may be time to take the plunge.
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4-You Would Rather Focus On Your Hobby Than Your Job
When it comes to making this decision, your actual feelings are important. Even if you enjoy your day job and the people you work with, the flexibility that comes with being your own boss may make you feel more free and liberated. Of course, you should think about whether you'd still enjoy your pastime if you did it every day. If any of these signs sound similar, you should start devoting more time to your interest and seriously consider turning it into a business.
Are you considering turning your passion into a business? What have you begun to consider? Please leave some suggestions in the comments section below.
C.J. (Carolyn) Braden is a regular contributor and editor for Carolyn’s Blooming Creations. She has been featured in numerous media publications such as InStyle Magazine, on HGTV, on Bustle.com, and more. She is the author of the books Georgia McMasters in Amethyst Lake Cemetery, How To Be Yourself: 3 Little Ways to Get Back To You Being You, and the illustrator for the children’s book Bridging Connections. She is a former classroom teacher that now dedicates her life to educating others on how to live their most healthy, creative and happy life. Learn more about her visiting our About Us page.
This is a collaborative post and may contain affiliate links. All opinions and ideas expressed in this post, however, are based on my personal point of view.