Turn your hobby into a business

2. Hobby to business in 6 steps As a hobbyist, you may not know where to begin from a business perspective. Lucky for you, we’re here to guide you. First, validate your hobby’s potential through research to determine if there’s a demand for what you’re offering and whether it will create value in the market. Secondly, decide whether your hobby will become a side hustle or a full-time business. This is also where you ask yourself if your hobby is sustainable as a business—can it remain viable for several years? If the initial outlook is encouraging, take the steps below to turn your hobby into a business:

• 2. Hobby to business in 6 steps As a hobbyist, you may not know where to begin from a business perspective. Lucky for you, we’re here to guide you. First, validate your hobby’s potential through research to determine if there’s a demand for what you’re offering and whether it will create value in the market. Secondly, decide whether your hobby will become a side hustle or a full-time business. This is also where you ask yourself if your hobby is sustainable as a business—can it remain viable for several years? If the initial outlook is encouraging, take the steps below to turn your hobby into a business:

1. Choose your business model First, decide what kind of business you want to run. The business model you choose will depend on a number of factors, such as: Work preference: Do you want to be responsible for crafting your products and running your business independently? Or do you want someone to help with certain aspects of running your new company, like managing inventory or finance? Production: Will you be outsourcing parts of the production process, managing production yourself, or selling finished goods or services? Sales avenues: Will you be selling online, in-person, or both? Writing a business plan can help you answer these questions. It can also help you determine things like launch timeline, required funding, and any additional requirements. 

• 1. Choose your business model First, decide what kind of business you want to run. The business model you choose will depend on a number of factors, such as: Work preference: Do you want to be responsible for crafting your products and running your business independently? Or do you want someone to help with certain aspects of running your new company, like managing inventory or finance? Production: Will you be outsourcing parts of the production process, managing production yourself, or selling finished goods or services? Sales avenues: Will you be selling online, in-person, or both? Writing a business plan can help you answer these questions. It can also help you determine things like launch timeline, required funding, and any additional requirements.