Is turning a hobby into a career a good idea?
When you’re passionate about your hobby and you’ve accumulated a certain amount of talent at doing it, you might dream of turning it into a full-time career.
Spending every day doing something you love sounds like a great way to make a living. But is it really possible? The answer is, it can be, as long as you know the pros, cons, and key things to think about before taking the plunge. Read on to find out what they are.
The benefits of turning a hobby into a career
There are lots of reasons why turning a hobby into a career can be a brilliant move.
First, there’s the simple joy of doing something you genuinely love. When you enjoy doing something, it’s easier to stay motivated every day. Work stops feeling like a grind and starts feeling like something you actually want to do.
Another big plus is the flexibility that often comes when you work for yourself. You can set your own hours and build a lifestyle that suits you.
And it’s not just a fantasy. Plenty of people have successfully made the switch. For example, the founders of Bird & Blend Tea Co., a popular UK tea company, started their business from a shared love of blending teas at home. Today, they have shops across the country. Also, Levi Roots, the creator of Reggae Reggae Sauce, created his infamous popular brand out of his love for home cooking with his family.
Stories like these show that a hobby really can become a rewarding and sustainable career.
The challenges of turning a hobby into a career
However, there are some challenges to think about too.
The main risk of monetising your hobby is that it can start to feel like a chore. If you’re dependent on it to make a living, you’re no longer doing it just for fun. Financial pressures can quickly take the joy out of what you once loved.
Financial uncertainty is another major issue. A lot of small businesses struggle in their early years. If your hobby doesn’t generate steady income straight away, you’ll need savings or other support to keep you afloat.
There’s also the matter of work-life balance. If you’ve always used your hobby to unwind after work, you might find yourself without a means of switching-off once it becomes your job.
Running a hobby-based business also demands a whole new set of skills. Being good at baking, crafting, photography, or gaming doesn’t automatically make you good at marketing, customer service, or managing finances. You’ll need to be willing to learn and adapt quickly.
And finally, some hobby industries are very competitive. For example, the arts and crafts market in the UK is estimated to be worth around £3 billion, but it’s highly saturated, especially online. Standing out from the crowd takes time and effort.
Questions to ask yourself before making the leap
Before you hand in your notice and throw yourself into a full-time hobby career, it’s important to do a bit of soul-searching. Here are the questions you need to answer to know whether it’s a good idea.
Do I still enjoy this hobby when I have to do it under pressure?
When deadlines are tight or clients are fussy, will you still be willing to do it? Consider whether turning your hobby into a career will be more or less stressful than your current job. If it will be more stressful, do you have strategies to help you cope?
Am I willing to learn about the business side of things?
If you want your hobby to support you financially, you’ll need to be comfortable with tasks like marketing, sales, and admin. Think about whether the prospect of learning new things excites you.
Many new businesses choose to register a company because it can also help build credibility with customers, suppliers, and investors, making it easier to grow the business.
Is there a real market demand for what I want to offer?
Not every hobby translates easily into a profitable business. If there are too many competitors who selling your products and services cheaply, you’ll need to focus on ways to stand out and win customers.
Can I cope with financial ups and downs?
Starting any business can mean unpredictable income, especially in the early days. This is perfectly normal, but you need to be prepare for periods of low demand.
Top tips for making the transition smoother
If you’re serious about turning your hobby into a career, there are ways to make the shift safer and less stressful.
- Test the waters by running your hobby as a side hustle before going full-time. This gives you a chance to build skills, clients, and confidence without risking your main income.
- Research your competitors, pricing, and customer demand. The more you know upfront, the fewer surprises you’ll have later.
- Create a simple business plan setting out your goals, budget, marketing ideas, and timelines.
- Figure out how much you need to earn to cover your basic living costs and how long you can afford to go without making a profit.
- Keep some hobby time just for you. For example, if you knit for a living, reserve one project a month that’s purely for fun, not for sale.
Ready to turn your hobby into a business?
Turning a hobby into a career can be one of the most rewarding things you ever do, as long as you go in with your eyes open. Well done for doing the research now, so you are aware of the opportunities and the risks.
If you’re serious about making the leap, we can help you get started. Rapid Formations makes setting up your new business quick, easy, and affordable, so you can focus on doing what you love. We can also help with tasks throughout the lifetime of your company, like with registering for VAT or issuing shares.
Register a company today with Rapid Formations.
