6 Hobbies That Make Money in 2024 – Forbes Advisor UK

Do you dream of a world in which the things that bring you joy and fulfilment can also make you money? You might find you already live in it.

In this article, we review six common hobbies that you can start monetising, and provide some tips and guidance on how to go about it.

Cash in on a love for food and drink

Whether you’re a culinary enthusiast skilled in the kitchen or a home-brew aficionado crafting unique beverages, there are several options for turning your gastronomic expertise into a source of income. That said, the food and beverage space is highly competitive.

Baking

Get it right and there’s money to be made in selling baked goods. You don’t have to start your own brick-and-mortar bakery, though. Farmers markets, flea markets and craft fairs are good ways to meet new customers, as well as establish and grow your brand.

Land on the right niche and you could also showcase your skills on the global stage as a ‘baking influencer’. Many baking enthusiasts have transitioned into careers as influencers thanks to the success of their YouTube channels or Instagram.

While you’re planning your business, why not look for part-time work in your local bakery? Here you can improve your craft by learning about old and new baking methods and styles that you may not have discovered on your own.

Brewing beer

Home brewers can cash in on their love by bringing their special brew to market.

The microbrewery industry can be quite profitable, with gross profits ranging between 74% and 92%, according to industry data. You’ll need a licence to sell alcohol though, and it is a highly regulated industry.

Home brewers could also make money by teaching the craft to others. Monthly classes at a local suitable venue can be a great revenue stream and help develop and promote your personal brand.

It’s going to take time to perfect your brew and build a loyal customer base and following, though. The marketplace is highly competitive and start-up costs, be it equipment or marketing, can be high.

Cash in on computing skills

If you’ve got a passion for computers, there could be opportunities to monetise your hobby. However, IT covers a broad spectrum of highly specialised jobs and can require a range of certficates and licenses.

Start by developing a portfolio of projects that showcase your skills, and share them with the world on GitHub. Network at job fairs and look for freelance work to build your CV. Once you’ve earned enough credibility, you can take to job boards and look for full-time work.

But if you don’t like working for someone else and are able to establish strong relationships with your freelance clients, you can also pursue starting your own company. Demand for IT outsourcing is growing as IT teams look to service providers to help keep up with the workload.

And with nearly 40% of people working from home either some or all of the time, you could set up as a mobile IT expert.

Cash in on your creativity

Whether you’re a woodworking virtuoso crafting exquisite furniture or an artisanal crafts enthusiast weaving magic into handmade creations, there could be potential to turn your passion into profit.

Customised carpentry

Your ability to monetise your carpentry hobby is a function of your skill. Your skill will already need to be at a level that has monetary value. But if this is the case, consider doing sales and marketing work to demonstrate your value. This includes creating and distributing your portfolio of work and networking locally to build your brand.

List your services on online marketplaces, such as Checkatrade or MyBuilder to view which project you should take on next.

Monetise your passion for art

The most obvious way for artists to monetise their hobby is by selling their creations. You can promote and sell art through traditional sales channels, such as exhibitions and art fairs, or through a variety of online marketplaces, such as Etsy and Amazon.

You can also offer to do commissions, licence your art for usage in other media or in merchandising, or rely on patronage from fans and admirers via platforms such as Kickstarter.

But there are other ways to make money from art besides creating and selling it. Art lovers can also cash in on their love for art by teaching painting classes, providing critiques and consultations for other artists or for the general public, or by investing in art that they believe will grow in value.

Keep honing your skills, stay persistent and explore various revenue streams to turn your passion into a sustainable and rewarding career.

Cash in on a love for animals

If you’re passionate about animals, whether they are furry, feathered or finned, there could be opportunity to turn into a source of income. Dog walking is a great way for dog lovers to make new four-legged friends while generating income and getting their 10,000 steps in. And pet sitting enables animal enthusiasts to generate additional income without leaving the house.

Getting gig work as a dog walker or as a pet sitter isn’t difficult thanks to platforms such as Rover or Barking Mad or Scamps and Champs which match walkers with owners. The hardest part is building up your reputation and finding more clients.

Entrepreneurial-minded readers might prefer to set up their own dog walking or pet sitting service. However, having access to your clients’ houses and the safety of their pets in your hands, means taking on more legal risks and responsibilities.

Common paths to monetising any hobby

Regardless of what your hobby is, there are four clear ways to potentially monetise it; you can do freelance (or ‘gig’) work, make it your career, start your own business, or become an influencer. Each path comes with a varying degree of risk and reward, and requires different skill sets and personality types.

Monetise your hobby: the gig path

The gig path requires the least time and money to get started. You don’t have to quit your day job or take on the additional responsibilities that come with having a second one.

If you have the requisite skills and can find work through personal and social networks or service-specific marketplaces, such as Fiverr, then you can turn your hobby into a side gig.

This is a great path for those who are looking to experiment with monetising their hobby. The commitment-free nature and low barrier of entry mean that you can stop at any time without sacrificing much, if anything.

When considering the gig path, consider the following:

• Is my skill level high enough to charge for a product or a service?
• How much time can I dedicate to gigging each week?
• Will monetising my hobby make it unenjoyable?

Monetise your hobby: the career path

You can also parlay your hobby into a career. This will be more difficult for some hobbies compared to others. Demand for labour varies by industry, and some jobs require a degree, licence and/or certificate.

For example, there may not be as many full-time job openings for jewellry makers as there are for IT workers. And if you want to transform your fascination with computers into a career in IT, you’ll need to obtain the relevant qualifications.

When considering a career path, consider:

• Do I love my hobby enough to do it full time, and will I continue to enjoy it once it becomes my full-time job?
• Can this career provide stable income?
• What is the demand for labour in the market related to my hobby?
• Do I have the requisite skills to obtain a job in this field? If no, then how do I obtain them?

Monetise your hobby: the business path

“If you do what you love, then you’ll never work a day in your life”, is what we’re told. However, forming and running a business is work in and of itself. After all, someone has to find and sell to new customers, manage the books and handle all the other chores of operating a business.

Starting a business isn’t for everyone. It comes with cost, risk, responsibility and uncertainty that many people cannot stomach. But some, particularly those with niche hobbies, are essentially forced down the business path, because the career, gig and influencer path isn’t a realistic option. There just aren’t many jobs for niche hobbies such as flying kites, playing video games and racing drones.

When considering the business path, consider:

• Is there a market for the product or service that I can offer?
• Who would be my potential customers?
• Do I have the necessary business skills to start and run my own business?
• Am I prepared for the personal sacrifices and financial risks that come with starting and running my own business?

Monetise your hobby: the influencer path

Name a hobby, and we’ll show you an influencer who is making a living creating content about that hobby. Whether it’s through your own blog or social platforms, such as YouTube and TikTok, your contributions to the global discussions surrounding your hobby can be a viable pathway to monetisation.

If you can cultivate a loyal following and develop a strong personal brand, then you may be able to attract sponsors and sell branded merchandise to your followers.

The influencer path is a good choice for those who cannot find or don’t want to pursue full-time or gig work or start a business (as we noted, you’re not going to find many businesses that are hiring basket weavers and jewellry makers). So, those who are not entrepreneurially inclined but have a passion for creating jewellry or weaving baskets might be better off vying for attention in the influencer space.

When considering the influencer path, consider:

• Do I have the requisite blogging, video production and on-screen skills to create captivating and compelling content?
• Do I have the requisite digital marketing and brand-building skills to effectively promote content?
• Who is my audience?
• How much do I value my privacy? Am I comfortable with being a public figure?

Bottom line

Turning your hobby into a source of income is more than just a financial endeavour; it’s an opportunity to infuse your life with purpose and passion. It can give you the freedom to do what you love, create a work-life balance that suits you and share your talents with the world.

Carefully thought through, monetising your passion may just lead you to a future where your work is your joy, and your joy is your work.