13 Hobbies to do at home and make money

13 Hobbies to do at home and make money

If you are good at what you do, love doing it, and people are asking for it, then there’s no reason why you can’t turn the hobby that you do at home,  into some sort of a side hustle or small business. After all, why wouldn’t you want to work from home, have fun, and get paid to teach yoga, build cubby houses, bake cookies, or create art?

Now more than ever, people are taking up all sorts of hobbies trying to work out which one they would love to turn into a side hustle to earn additional income. 

There are literally hundreds of hobbies that can be turned into home businesses. 

Let’s dive in and see which hobbies are in demand today and can be easily monetized.

Here’s a list of our top picks for hobbies to do at home that are both fun and make you money, whether it’s through freelancing, running a side hustle, joining a partnership, or starting a small business. Many of these can be done at home. How much more local can you get:)

Top money-making hobbies to do at home

  1. Copywriting

If you love writing and are great at storytelling, the world is your oyster! You literally don’t need to get out of bed to make money:)  Good content writers are always in demand.
There are several ways you can make money from copywriting. The most obvious way to make money writing is to sell it as a service. You can do paid gigs on sites like Fiverr, Upwork, or Freelancer. Alternatively, you can work directly with various brands writing content for their blogs and social media

  1. Web Design

If you are digitally savvy, reasonably creative, and love building websites for friends, there’s a market out there of side hustlers, service providers, and small business operators who would be willing to pay you to do it for them. This is a great hobby that lets you work from home, and can easily turn into a great stream of income.

  1. Social Media

Spend hours on social media? Why not work from home and turn that hobby into an income? If you know how to build a following on any of the major social media outlets – Facebook, Twitter, Tumblr, Linkedin, and others – you may be able to make money working home, managing online communities for small businesses.

  1. Photography

If you love taking pictures, photography may be not only a viable home business idea, but can also take quite a few different forms. You can set up a studio in your home, sell your photographs online, be a wedding or event photographer, or do photoshoots for startup launches and PR. Opportunities are truly endless.

  1. Graphic design

Graphic design is one of those creative hobbies you can easily do at home setting yourself as a freelancer. There are lots of platforms where you can showcase your work, such as Fiverr, Behance, Dribble, and more. If you want to put your art on items—from t-shirts to posters to canvases—you can easily do that with Redbubble.

  1. Creating Videos

If you have a knack for creating videos or even just editing them, the timing could not be better.  There’s a growing market for videos, and sites like YouTube, Daily Motion, Vimeo, TikTok are booming. Most startups and businesses consider videos a necessity to promote their products and services. There are various ways you can make money doing this, from creating instructional videos to commercials to promote businesses

  1. Yoga

Yoga is amazing. It helps people heal, transform, and become the best version of themselves possible, so it is not surprising so I find it no surprise that yoga is a booming, thriving industry. With the power of the internet and a little creative thinking, you can market and grow your yoga business even online.

  1. Baking

Great at baking? Everyone loves baked goods, but fewer and fewer people actually do any baking anymore. There are small shops, bakeries, farmers markets, and specialty stores that already sell specialty food items, and would love to take on new products. If you want to get really ambitious, you can start a baked goods line online.

  1. Handmade crafts

Do your friends brag wearing your bracelets, or showing off your art, and always ask for more? If you enjoy working with your hands creating things, there are plenty of things you can make and sell: jewelry, toys, bags, soaps, bells, candles, kitchen accessories, and more. There are also many ways you can turn your talents and creativity into the side business. You can test your products by selling them to friends and online, through platforms like Aliexpress or Etsy, or build your own e-commerce site. Alternatively, you can join local craft markets,  or sell to local shops.

  1. Carpentry

If you have a passion for woodworking, know the tools and have the skills to build or repair furniture, you can build a side business with very little competition. Especially if you have the skills to restore antique furniture. Given the shortage of carpenters these days, the demand is there, and you can easily build on that.

  1. Gardening

If you love gardening, this can be a fast and easy way to make a living, especially if you already have all the tools you need and a good-sized yard to get plants growing. People are always looking for someone good to do some landscaping for them or take care of their gardens and lawns. And the great thing about gardening is that you can run it from home, do it alone, or with a good friend or partner.

  1. Music Teaching

Music is one of those hobbies that naturally leads to tutoring. Parents are always looking for music tutors to give piano lessons, guitar lessons, drum lessons, violin lessons, and more. You don’t have to be an absolute expert in order to teach music. As a tutor, you’ll be working mostly with beginners who have little or no knowledge of the given instrument.

  1. Pets

If you love pets, there are a variety of ways to combine your love of animals with getting paid, including pet sitting, grooming and boarding, creating and selling pet accessories, pet photography, and more. Pet sitting is probably one of the fastest ways to start working with pets. 

Takeaways

Here are a few key points on how to start transforming your hobby into an income stream:

  • create a website, blog or YouTube channel about your blog and monetize it
  • start selling products related to your hobby
  • teach people skills related to your hobby

The easiest way to take your hobby to the next level is to do it in a side hustle. Here is an article about how you can passively earn money from it. 

Use this list of hobbies to do at home to choose the perfect one for you.

Don’t forget to join ZippyCrowd to showcase your hobbies and skills and have your friends recommending you.

Sole trader, partnership or company: Differences and benefits [2020]

Sole trader, partnership or company: Differences and benefits [2020]

Sole trader, partnership and companies are some of the business structures available in Australia. When it comes to starting a small business, choosing the right business structure is one of the first decisions an entrepreneur must make. In this article, we will understand what is a sole trader, a partnership and a company, their advantages and disadvantages – and how to choose the right one for your business.

Choosing the right business structure

There are more than two million small businesses in Australia accounting for 97 percent of all Australian businesses according to the Australian Bureau of Statistics (ABS), all of which are made up of several different types of structures.

If you have decided to take your idea, skill, product to the next level, the first step is to work out which business structure you should choose for your business and why.

There are a few options available: 

  • sole trader
  • partnership
  • trust
  • company 

They are vastly different in many ways, from how they relate to your work, to licenses you may need, to your personal liability and to your tax and legal obligations. 

For many people, the simplest solution is to start operating as a sole trader. There are a range of advantages and disadvantages of running a business in this way that should be considered before you get started. The good thing is that you can change the business structure pretty much at any time during the life of your business. 

Let’s have a look at some key points for each option.

Partnership business: advantages and disadvantages

Partnership business is usually made up of 2 or more (up to 20) people responsible for the running of the business. 

Decision making and financial investment are often shared, potentially lessening some of the workload and risk, but compromises may have to be made to keep all partners happy.

Pros of a partnership

  • Up to 20 business partners
  • Partners share knowledge and skills, and get tasks done faster and achieve more together than if they worked alone
  • Costs are split among partners, with less financial burden on one person
  • Partnership setup requires less paperwork
  • Partnership agreement is more simple than the paperwork for other business structures
  • No additional business tax forms
  • Each partner is responsible for their own superannuation

Cons of a partnership

  • Requires a separate TFN
  • You cannot act independently and make decisions on your own
  • Potential disagreements with your partner/s
  • You have to share profits with others
  • A partnership is not a separate legal entity from you and the other partners. All partners are legally and financially responsible for the business. Debt collectors can come after your personal money.
  • You’re taxed individually

Company: advantages and disadvantages

In Australia, approximately 20,000 new companies are registered each month. The most common company type is a Pty Ltd (proprietary limited company). Unlike a sole trader or partnership structured businesses, a business with a company structure is a separate legal entity. This means it has its own legal rights, and personal liability is limited.

Pros of a company

  • It is a separate legal entity, with reduced personal responsibility for any business debts and liabilities
  • Easier to attract investors, customers and suppliers
  • implies that the business operates on a larger and more serious scale
  • more tax efficient, with a flat corporate tax rate of 27.5%, regardless of its profits (check the latest details on the Australian Taxation Office (ATO) website)
  • Shareholders Agreements  provide significant protection against company disputes
  • protection from personal liability
  • Easy to pass on or sell ownership

Cons of a company

  • More complex and costly to start, set up, administer and manage 
  • Higher levels of paperwork and compliance
  • Registering a company imposes serious responsibilities on directors. A director who breaches their duties may need to pay a fine or find themselves criminally liable and face jail time. 
  • The company must register for GST if your turnover is over $75,000 a year and has to pay the annual review fee (close to $300) to ASIC. 

Trust: advantages and disadvantages

Trusts, unlike companies, are not separate legal entities.

Running your business through a trust involves a trustee. The trustee of the trust is the legal entity who owns the assets and enters into contracts on the trust’s behalf. Trustee is responsible for:

  • owning and operating the business’ assets;
  • distributing the business’ income; and
  • complying with the trust deed’s obligations.

Pros of operating as Trust 

  • Income can be distributed with the lowest marginal tax rates
  • The trust’s beneficiaries pay tax on income they receive at their own marginal rate
  • The trustee can distribute income at their discretion
  • The trust model provides more privacy than a company
  • The beneficiaries do not own the trust assets, so there is some protection from a beneficiary’s third party creditors

Cons of operating as Trust

  • Much more expensive and complex to establish and maintain than other structures
  • Cumbersome to operate on a daily business
  • Hard to dissolve or alter, may result in various additional costs
  • More difficult to borrow funds based on the intricacies of loan structures
  • The trust deed limits a trustee’s powers
  • You cannot distribute losses (only profits). Therefore, any profits earned will incur increased tax rates.
  • Trustees can be personally liable for the trust’s debts, unless indemnified or a company structure 

Sole trader: advantages and disadvantages

Registering as a sole trader is a great option for people wanting to start a small business. It’s the simplest and cheapest business structure to set up, with very few obligations, unlike other business structures.

It is free to establish and has limited ongoing compliance (i.e. accounting/tax) costs associated with it. You don’t need to do separate company tax returns because you can include all your business expenses and outgoings in your personal tax return. This structure still allows you to employ other people to help you run the business.

You can always roll your sole trader business up into a company or other structure when the time comes

Pros of a sole trader

  • Simple to set up and operate – you are the business
  • Gives you full control of your assets and business decisions – you are the boss
  • Requires fewer reporting requirements and is generally a low-cost structure
  • You can use your tax file number (TFN) to lodge tax returns
  • Doesn’t require a separate business bank account, although this is recommended to make it easier to keep track of your business income and expenses
  • business structure is simple and inexpensive to set up and run
  • Little ongoing paperwork 
  • No need to register a business name – you can use your own
  • you keep all the profits
  • you can use your tax file number (TFN) to lodge tax returns
  • any losses incurred by your business can be offset against other income earned
  • relatively easy to change your business structure if you want to expand or stop operating

Cons of a sole trader

  • you are on your own, and all the responsibility for making day-to-day business decisions is yours
  • there’s no legal distinction between private and business assets – so you are responsible for all the debts 
  • Doesn’t allow you to split business profits or losses made with family members 
  • You’re taxed as a single person
  • Investors take you less seriously – harder to raise capital 
  • Retaining high-calibre employees can be difficult
  • It can be hard to take holidays
  • You’ll need to pay yourself, usually out of a distribution of the business profits
  • You are responsible for your own superannuation

What about the business name?

When it comes to business name, as a sole trader you have 2 options:

  1. Use your own name to start your side hustle or business. This is the simplest and quickest way to get started. If you use your own personal name for your business, then there is no need to set up and register a business name.
  2. If you don’t wish to trade under your own name, you’ll need to apply for a business name. 

To register your business name, first check if it’s available by checking the National Business Names Index and if you wish to trade online it’s a good idea to check that a suitable domain name/address is also available. You can apply for a business name through the Australian Securities & Investments Commission (ASIC). Follow the link to register a business name with ASIC, which will allow you to trade under a name other than your own. This is not expensive and is really useful if you’re trying to build a brand that stands separately from yourself.

Next you’ll need to ensure that your new business name is linked to your Australian Business Number (ABN) by contacting the Australian Tax Office (ATO).

The business name you choose for your sole trader business has no legal entity status and does not give you ownership of that name or legal protection of it. If you wish to legally protect your business name and stop other businesses from using it, you’ll need to trademark it.

How do I set myself up as a sole trader?

  1. First you need to register ABN (Australian Business Number)

The ABN is a unique 11 digit number that identifies your business or organisation to the government and community. 

In order to operate as a Sole Trader you must have an Australian Business Number (ABN). In fact, every business in Australia, whether you are a sole trader or a company, needs to have an ABN in order to trade. It’s extremely simple, and free if you do it yourself, process and will only take around 30 minutes to complete online. All you need to have is your  Tax File Number (TFN) and personal details ready,  and you’ll be able to register for an ABN in no time on the  Australian Business Register site.  Once done, you will be able to use this number for all your business dealings.

  1. Next, you need to set up separate business bank accounts (optional)

Ideally you should keep your personal and business accounts separate. You can set up a bank account to handle all of your business income and expenses. In addition to that, you can have an online savings account that you use to set aside funds to pay your tax and Business Activity Statements (BAS) when the time comes. 

  1. Tax stuff to know

GST

If you’re going to earn more than $75,000 in a year you need to register for GST which you can apply for within the ABN application form. Businesses are responsible for collecting GST on behalf of the ATO.

Being registered means you’ll be adding 10% GST on to your invoices that you’ll then hand over to the ATO. It also means you will get GST refunded by ATO when you incur costs for your business that include GST.

BAS

If you are registered and collect GST, you will likely need to lodge a quarterly Business Activity Statement (BAS) that summarises the GST collected and paid for that quarter so you know what to pay to the ATO. You can easily do this yourself or get a bookkeeper to handle this for you.

Tax Returns

Sole Traders pay tax with their individual Tax File Number (TFN). Annual tax returns are very similar to employee tax returns, with some extra sections specific to sole traders. There are no special tax rates for sole traders.  As a sole trader you are required to pay the same tax as an individual taxpayer, at personal income tax rates.

What next?

Currently there are more than 1.4 million sole traders in Australia accounting for more than 60 per cent of all Australian businesses.

Before you set off on your small business journey we recommend having a good think about what you want to achieve. As a rule of thumb, if your intention is to simply work for yourself, then a sole trader structure may be adequate.

If on the other hand you are looking at employing several people and working on larger projects, especially where you need to take on larger liabilities, then a company structure may be more appropriate. Whichever way you choose – good luck, and don’t forget to keep your profile updated to get discovered and recommended to opportunities on ZippyCrowd!

Side hustles for passive income: the best ideas to start today

Side hustles for passive income: the best ideas to start today

In a high-competitive world, earning money has become challenging. Earning it without working has even more.

Beyond the huge mass of scammers that offer magical solutions, is it really possible to build a stream of passive income? And even better: can we build it as a side hustle?

In this article, we will explore the best options and strategies to earn passive income through side hustles.

Passive income opportunities: genuine options

Out of thousands of possible ways to get a passive income stream, we collated the most feasible sources you can invest in and start earning today:

  1. Digital Market: with a 24/7 audience of customers, the digital media are a good option for building passive income streams. Among the available opportunities, creating a digital product, working as an affiliate, or leveraging paid advertisements are the most valuable ones.
  2. Financial market: dividend-paying stocks, ETFs, and other investments are genuine passive income sources for you to receive monthly payments.
  3. Business ownership: from selling a company to seizing the profits of one, you can leverage entrepreneurship to earn money around the clock. In case you own a company, you must set everything up for it to be self-manageable. Doing so will guarantee that you will keep earning money even while you sit and relax on a calm beach.

How to side hustle and earn money

“Side hustle: a piece of work or a job that you get paid for doing in addition to doing your main” – Cambridge Dictionary

Beyond the passive income myth, we’ve seen that there are indeed options to create passive income sources. 

The point now is whether it is possible to start to work on something (in addition to your 9-5 job) that results in passive income while giving you the money today.

The good news is: yes! All the ideas that we provided take time to be matured and give you the security to be considered truly passive income options.

However, it doesn’t mean you cannot start benefiting from them right now.

  • For the digital market, you can start as an affiliate and directly promote other people’s products, earning with each sale.
  • In the stock market, you can learn how to operate in day trading. Perhaps not the most secure option, but still a valid one.
  • As a business owner, you can earn a salary for the work you offer to your company while building what is going to be the goose that lays the golden eggs. Check out our article about home business ideas for more insights;

Although we are aiming to earn money while we sleep, this doesn’t mean we don’t have to hard work to reach this objective.

Getting started

Getting started with passive income side hustles can be time-consuming in the first place.

Yes, although we are aiming to earn money while we sleep, this doesn’t mean we don’t have to hard work to reach this objective.

That said, the first thing you must keep in mind is to research:

  • How much do I want to earn passively?
  • What are my resources to achieve this?
  • How much time can I spend to build my passive income stream?

Equipped with these answers, you can now start to search for each one of the possibilities and what is your best fit.

The next challenge is time management. You must balance your day-to-day activities with your side hustle project, being sure to excel in the long term.

And, last but not least: just start! Apart from all the concerns and doubts, you can do it.

If you are truly committed to building a passive income source for yourself, start today and go for it.

The next steps

What do you think about those ideas? Are they easy to do? Do you have any questions?

Let us know in the comment section below 🙂

37 Home business ideas to start with no money

37 Home business ideas to start with no money

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