There’s no denying that many of us are entering 2021 with much less financial stability than we did pre-pandemic. We need to honor all the ways we lost last year, but the start of a new year is also a great time to dust ourselves off and find ways to recover in our financial life. If you need an additional income stream but can’t think of potential businesses to start, you only need to look into your hobbies. Here are 10 potentially lucrative hobbies that can help you earn a profit this 2021.
If you’re an avid gamer, don’t let yourself buy into the lie that it’s one of the most unproductive hobbies you can get into. For one, gaming helps improve your reaction time, reflexes, hand-eye coordination, and strategy, and for another, it can help you turn a profit if you gain enough attention from people. Live-streaming platform Twitch can help you gain income when you monetize your streams. Besides receiving ad revenue, you can also potentially gain subscription donations if you build a big enough community of viewers. If you love gaming and have a thorough insight into the market and its needs, as well as a killer personality, you might have a fighting shot of making it in this space as an entrepreneur.
If you’re the type who enjoys looking through Architectural Digest, and if you have a thorough knowledge of current interior decoration trends, how about starting a career as an upstart interior decorator? The best part of trying this business is that it doesn’t require a degree or a license since you won’t be signing official documents; you only need to have a good eye for what makes a space look appealing and a thorough understanding of what clients want and need in their homes. If you have a penchant for what colors look good on kitchen cabinetry or how to help people find sophisticated furniture pieces for their living spaces, consider providing this service.
However, take note that decorators are not interior designers, and you will be limited in what services you can offer. You cannot make changes to the home’s structure, architecture, or permanent furniture—those are a whole ‘nother ballgame regulated by governing bodies. You can only work on design elements like movable furniture, paints, colors, and others.
If you’re a beer enthusiast who enjoys brewing your own at home, why not start selling it? A 2017 study found that more than 1.1 million Americans brew their beer, and it’s a trend that continues to rise as time goes on. There is a viable business opportunity to make or sampling craft beers, and there is certainly a market for it, especially when people can’t go to bars to have a pint with their friends. If your home-brewed beer is excellent and if you have a knack for marketing, consider selling bottles of your craft beer online. You can also eventually expand to other side businesses, like selling homebrew accessories and kits so that consumers can also learn how to brew their drinks at home.
Closely related to beer-brewing is selling coffee, another business opportunity that will always have a market. Reports say that people drink hundreds of billions of cups of coffee annually, which has turned the drink into a $600 billion industry. If you’re passionate about coffee, meaning you love to both drink and make it and know what makes it good, you could turn this passion into a lucrative activity that provides food on your table.
You can also integrate your other passions into this potential business: If you’re into ethical consumption, you can incorporate this advocacy into your business by going zero-waste in the materials you use or only going for fair trade coffee beans.
Just like gaming, a passion for all things beauty like makeup and skincare can also be lucrative if you gain enough attention for it. If you have a new perspective and have something to say that other beauty influencers haven’t, consider starting your own YouTube channel or Instagram account dedicated to creating makeup looks or reviewing products. Audiences are on the lookout for a new breed of influencers after many of the bigger ones have become unrelatable and more akin to reality TV show stars, and you might make the cut if you’re unique, honest, sincere, and transparent.
The Bottom Line
These hobbies won’t make you money overnight; it will take a lot of hard work and commitment before seeing a profit. But with enough passion and joy, you might be able to capitalize on things you already love as you naturally share them with others.