Is it worth starting?

kookieangel

Hi all
Just wanted opinions on this really. I'm being made 2/3rds redundant in a couple of months time, leaving me with not very many hours at all. I've been wanting to branch out into something I enjoy, but I'm thinking out loud as to how worth it it would be in financial terms.
I make cards etc in my free time, just for the enjoyment as I've always been a stationary geek - for other's birthdays and so on, but lately family and friends have been cottoning on to this and have bought me the stuff to make them for them as well.
I also enjoy photography and recently upped my game when I got a better camera from my Husband for my birthday, but I know this is a funny area to dive in to.
My question being, is it worth pursuing a hobby into a 'cottage industry', or is it best kept as just a hobby?

Thanks all - sorry for the ramble

Horace

I would do it. Although you would need to register with the HMRC so that you can pay your own tax and NI.

I know quite a few people who have turned their hobby into a business - one lady makes cards and favours, another worked in PR and enjoyed photography as a hobby - she is now a photographer and no longer does PR.

If you don't do it, you will be forever wondering what if....?

paddyrg

I would try to grow it organically - you may love making cards as a hobby, but hate it as a daily chore! And remember if your USP is handmade cards (ie not just printed), then you have to be different, and to be different you will need resources, and those resources cost money, so your margins will be slim. Maybe you'll make £1.50 on a card? Then you need to make AND SELL 4 cards an hour to even get close to minimum wage...

If you find you still love it when it is a daily job, and you can live off the income, brilliant, but just don't pin everything on it from day one!

kookieangel

Thanks Your input is much appreciated!
If it did turn out to be something I could make a living from, it would be brilliant, but I'm just looking to test the waters really for now. As I said, I'll still have my job for about 2 days a week, so it would be great to do something I enjoy in my remaining time that could actually bear fruit!

I'm a totally new to business and have no idea how to go about it...so any links or ideas would be gratefully received

COOLTRIKERCHICK

Hi,

You will never make a fortune selling your cards etc, but if you injoy making them, and you can sell some to cover the cost of the materials used and a few pennies on top it would be great..

it might be worth you having a look on the special occasions board, as there a lovely bunch of crafters, who make and sell at craft fairs etc, where you will be able to ask what sells the best etc..

here we go a link to the board

http://forums.moneysavingexpert.com/forumdisplay.php?f=101

dont forget there are alot of crafters out there trying to make some money out of cards etc..

I used to make and sell cards about 7 years ago.... it is very time consuming, and you got to come up with new designs every few weeks etc... for the shops i was selling them in.... did i make money....'just'... but for me it was a great stress relief from the hum-drum of life.....

Good luck:beer:

Savvy_Sue

you might feel there's too much info on businesslink, but it would be worth taking a peek and thinking about a business plan, for example. Doesn't have to take you through to WH Smith stocking all your cards, but it might help you work out at what point you'd say "yes, I love this and I can make money from it" or "this is actually getting me down and I'm not making any profit, I'll think about something else."

paulwf

Sorry to be the negative voice here but...

...these sort of markets get saturated and loads of people can do it and enjoy doing it. Basically there is no barrier to stop people giving it a go so they do. Just visit the Up Your Income board to see the number of card makers. Since photography went digital and you don't need a darkroom everyone is giving it a go.

It's on par with driving instructors, home computer repairers and self employed couriers in terms of saturation. Perhaps try and find a niche that other people aren't doing?

kookieangel

Thanks all for the very informative responses - all gratefully received! Am checking it out got an awful lot on my plate at present, but really enjoy what I do in my free time, so it will provide me with some much needed relief and perspective!
Definitely not going into this blinkered - I know a lot of people do it, but I figure if I'm doing it anyway, why not branch out a tad? You're right though, it would be great to have more of a niche aspect to play on, so will explore that.