Practical tips to help you improve your credit rating and avoid expensive high interest loans
We explore how you can make money from doing the things that you love online.
I noticed a post on Facebook today and it got me thinking about how many creative people there are out there and how they could exploit their talents to increase their income.
A friend who has a full-time job had just finished making a children’s blanket that she had sold to someone in America!
Just one example of how you can make money from a hobby.
Here are some sales platforms you could use to “sell your wares” without having to leave the comfort of your home:
Etsy specialises in handmade items from jewelry to hair accessories to children’s clothes from independent creators (not large companies).
Esty says it “just millions of people selling the things they love“.
You have your own shop where you list your items and Etsy takes 3.5% of the sale price of anything you sell.
The website has a wealth of information and advice to guide you every step of the way.
Unlike Etsy that sells your own products, Redbubble takes your art and creates its own products with it.
You could spend your life on Redbubble and still never exhaust all there is to see.
Items available include t-shirts, phone cases, calendars, posters, cushions, stickers, and notepads.
All you need to do is provide the artwork and Redbubble does the rest!
This is particularly popular with television and film ‘fandoms’ – so if you are artistic it might be worth a try.
As Redbubble is creating and shipping the items they set the base price and you add your ‘mark up’ which is the money you will make.
It might take a little while to get the right balance but looking at what others are charging should help.
eBay is a great place to sell custom made items.
The artwork is very popular as is jewelry and furniture but our particular favorites are customised toys.
Make sure you keep track of what you spend creating the items and your shipping costs though or you could end up making a loss.
A simple and straightforward place to get your creations in front of people with very little effort required.
Start with a page and share it with friends who in turn will hopefully share it with their friends and with luck you will have many page ‘likes’ in a short space of time.
Then it is up to you to get your products in front of them.
If you don’t want to have to create your own website to actually handle the eCommerce side of things you can always point your interested customers towards Etsy for the final transaction.
As always, it is sensible to be aware of any potential issues you may encounter.
If you need funds to get your new venture going, there are many options for you (beyond the scope of this article), but I’ll briefly list some below:
If you have a poor credit rating, then options can become more limited as typically the high street banks and mainstream lenders do not help!
A loan with a guarantor is one option that could be worth considering, as you are not required to provide business plans, and your own credit history is typically not an issue. For more information click here.