Business expert reveals new data that could help hobbyist turn their pastime into profi

• A new study examined the average prices of products sold on Etsy for common hobbies, to reveal how much hobbyists can make if they monetize their pastime 
• It was discovered that that handmade crocheted items sell for an average for £3, while home-made patterns can earn on average almost £4
• Those looking to make friendship bracelets and other kinds of bracelets can make an average of £13 per sale – which is good news for Taylor Swift fans 
• A business expert advice using your hobby to create extra income in your home, including asking friends and family whether the product is worth selling 

A new study has revealed that some hobbies that can be done from the comfort of home can bring in a substantial extra income – including crocheting. 

A study by small business consulting organization Venture Smarter analyzed data from the popular selling platform Etsy to identify the best-selling items, their prices, and search volume.  

Those looking to make extra cash while doing something they enjoy have been urged to start selling their products on popular sites such as Etsy or local markets. 

Sites like Etsy are easy to set up and, if used with social media sites such as TikTok and Instagram, can be the first steps to creating an online customer base. 

The study found that hand-crocheted products had an average selling point of £13. Although the returns on hand-crocheted items aren’t great if they require a lot of yarn to create, the patterns people can create when making their items sell for an average of almost £4. 

Once these digital crochet patterns are made, they can be a great source of side revenue for any hobbyist, as they have almost zero upkeep costs once they are created.  

It was learned that those skilled in life drawing who can create hand-drawn portraits could earn an average of £60 per portrait, although the process of drawing the portraits could take a while. The returns seen from this fun pastime could make it a very valuable hobby.  

Individuals who started candle making last year can start selling their scented masterpieces for an average of £17 on Etsy.  Meanwhile, those who decided to start making handmade eco soaps could sell personalized soaps for an average of £18.

Those who enjoy knitting can sell handmade scarves for £32 each. Creating scarves quickly can mean extra income this winter. 

Making personalized napkins for weddings could earn £22 for those crafty with a needle and thread and enjoy the precise work of embroidery. 

Those with access to a Cricut or other vinyl cutting machines can create their own stickers, which sell for an average of £4, or can be more adventurous, perhaps creating personalized glass wear sets that can sell on average for £25.  

Speaking on the findings, an expert from Venture Smarter advised, “With the cost of living crises not getting any better, turning something you enjoy into a money maker is a great way of being able to enjoy yourself while creating an extra income.  

“Taking the first step from a hobby to a side hustle can be challenging. It requires the confidence to believe that the work produced is of sale-worthy quality. 

“ One way to test the waters is by seeking opinions from friends and family. If they ask about the products you make or offer to pay for them, it’s a sign that you should take the leap of faith and turn your hobby into a successful side hustle.  

“Free marketing tools and social media sites can help you reach fans and potential customers. Taking some of the many available free courses to help you understand how to use social media to your advantage can also be beneficial.” 

Credit: the researcher, Venture Smarter.