I'm Bernard Kelly - Australia's Retirement Strategist®- and I want to tell you how I discovered these 37 very profitable hobbies.
It all began almost 15 years ago, when I was a fund-raising consultant for charities and non-profits.
At the time I was in my early 50s, and the chief executives of my clients were in their mid 60s, and whenever I went to their farewell functions I would always wonder how they would be able to survive - financially - throughout a retirement that could last 25-30 years. They had their homes paid off, I presumed, but it was unlikely that they had enough in their 401k retirement savings accounts to pay them little more than a very modest pension.
Well, to cut this story short, it took me fully two years for me to appreciate that I was exactly like them, so as quickly as I could I become a professional real estate investment consultant (building on what I had been doing for my family up till then) to learn how to create serious wealth.
Now quite often I couldn't help my private clients develop a portfolio of investment properties to secure income for their retirement, but I knew that I could still help them - at a lesser level - if I opened their eyes to the possibility of a "profitable hobby".
And so it all began. Suddenly I was finding examples of profitable hobbies everywhere! They are a boon to anyone who doesn't have huge savings.
But there's no need to wait until you're close to retirement to start a very profitable hobby. You can obviously start today, and enhance your lifestyle immediately. Who can't use a little extra cash?
Here are a few case studies that are covered in depth in the manual:
1 Swings - children's outdoor play equipment
2 You can sell raw peanuts as snack foods in factories, offices, churches
3 Establish a niche a recruitment agency for seniors and find employers for your job seekers.
4 How a father and son (race car enthusiasts) sold their videos on-line to a vast audience
5 A second hand bookstall will generate profits as well as both physical and mental health benefits
6 Discover how to (legally) distill and market your own unique brand of alcoholic spirits.
Now I want you to have at least a 50,000% return on your investment.
So if you aren't looking to earn at the very minimum $9,772.50 each year from a profitable hobby, you should keep your $19.95
But if you want to explore and join the rapidly growing community of families with a micro business, take action NOW!
I realized that to have a comfortable retirement, a couple would need a huge amount of investments that would be - effectively - their employer for those years of serenity after retirement.
So in today's terms, if they wanted an income of $100,000 pa in retirement, and their property investments generated a return of 5%, then I calculated that they would need an asset base (and no debt) of $2,000,000.
And that became my own personal target - and I was on track until the Global Financial Crisis hit a few years back.
But fortunately I had also been developing my own very profitable hobby along the way - so my cash flow is somewhat protected. Which is my SiteSell story - I'll tell you about this later.
Now as my consultancy practice grew, I met many private clients who weren't in a position to tuck an investment property aside.
Sometimes they didn't qualify for a bank loan, sometimes they were afraid of debt, sometimes they thought that their cash flow - from their employment - wasn't adequately secure.
And of course some of them didn't like the passive nature of property investing - they wanted Action! Action! Action! So I told those few that maybe foreign exchange trading was more to their style.
However those who genuinely realized that they would inevitably be facing a financial catastrophe as soon as they retired, I was diplomatic, and suggested that the easiest way for them to develop an additional revenue stream was to take whatever hobby they had, and turn it into a "profitable hobby". This would enhance their income immediately, as well as setting them up for later on. Which was what I had been suggesting, in any event.
And as I enjoyed helping them explore their options, over time I discovered what many families were doing with a home based micro business. It was from those venture hobbies I have now selected for you the best 37 examples of the most profitable hobbies.
Let me give you a few examples of what a very profitable hobby actually is.
My No.1 example of a profitable hobby is a retired solicitor who quickly became bored with retirement, and he took up building computers as an intellectual challenge. Then at some stage he realized that every web page needs to "live" somewhere, so the next thing he did, he become his own web host.
Now as he had trained as a lawyer, he had a logical mind, and was able to teach himself programing, and be began to visit his local weekly computer swap meets to buy the equipment that he needed. Over time, the various people who he met at these meets got to know what he was doing, and so he began to host websites for these colleagues.
Then he began to advertise on the web. As he had really no overheads, he marketed himself as "the world's cheapest web host". It was probably a bit of marketing hype, but he is certainly far cheaper than the standard ritzy web hosting firms. Effectively he charges about one-tenth of what the big boys charge, and so he is very, very attractive to anyone who owns a portfolio of URLs.
As his profitable hobby developed, he had to rent bigger and additional servers to back up his data, and
has had to outsource some of the work - such as security. However, if
he now has 5,000 clients each with ten web sites, and they pay him just
$20 annually to host each site, his revenue is a handy $1,000,000! And
he is still a one-man band, with a VERY profitable hobby.
And as the internet is growing constantly, perhaps next year his business will be up another 10%. As everything is automated, most of this increase will fall into his pocket. Hee Haa!
If you enjoy computers, maybe you could do the same! This full case study is included in the manual "37 Case Studies of Profitable Hobbies".
In the manual "37 Case Studies of Profitable Hobbies" we've included discussions on
No-one has enough for retirement, and in fact we will all need
additional revenue streams for later on. Just think of what your
utilities cost 20 years ago - and they are bound to continue to soar during the 25-30 years of your retirement.
Or just think of some seniors you know - what do you think is the cost of their drugs each month? Even if they are able to buy from Canada, the cost is significant.
So we will all need extra money - both now and later. "37 Case Studies of Profitable Hobbies" will introduce you to the concept of having a simple work-from-home business, using the resources that you already have.
For example, no matter where you live, it's relatively easy to use your own home and establish a bed and breakfast.
You don't need a rustic cottage in a beautiful national park - many tourists visit big cities and want to stay in the suburbs.
You will need the appropriate licenses, of course, but then all you'll need to do is advertise.
Assume - conservatively - that you charge $125 per room night for three nights each week for just 30 weeks of the year, you can see that your revenue will be $11,250 each year.
Note - establishing a bed and breakfast micro business is a bonus concept for you as the full detail how to operate a B&B as a profitable hobby is not included in the manual "37 Case Studies"
Or you could use your backyard shed to become a potter.
You really don't need much more than a potter's wheel to start, as you will be able to find someone locally who has a kiln.
One chap I know did this, and found a flea market in an affluent suburb where he could sell his work - at premium prices.
Note - this is an additional bonus concept for you as pottery (as a very profitable hobby) is not included in the manual "37 Case Studies". But you will find many others there that are detailed in full.
Soon he began using the marketing hype "Ceramics by Douglas Woolstone" which added even more luster to his pottery - and of course his prices edged higher.
Next he started showing in local galleries, and over time moved up into more prestigious galleries.
I once asked him if his quality had gone up by a multiple of 15 to match his prices, but no - he cheerfully explained it was all in the marketing.
And I remember to this day what he said: "no matter what you charge - provided it's just below your competitors - there is always someone with the capacity and willingness to pay".
The manual "37 Case Studies" will also teach you how to
calculate your minimum sale price, and when - and how - to respond
should someone complain about your value. Essentially, you look them in
the eye and say calmly: "if I can't make a profit, I can't provide the
service". And there's more about how to develop your attitude inside the manual.
You will also realize that there a myriad of very profitable hobbies that you haven't heard about yet.
Note - this is a further additional bonus concept for you as photograhing-the-very-ordinary is not included in the manual "37 Case Studies".
With a modern phone camera, all you need to do is walk around your suburb, and photograph common objects - such as letter boxes.
afternoon you could take 70, then spend the next few days
uploading to on-line libraries known as Depositories. These are effectively retail shops, and they will sell your images.
From the original 70, assuming you select 20 quality pics to upload to each of four depositories, your portfolio would contain 80 images.
Next month, go to a different location and do the same, so that by the end of your second month, you have 160 images up there.
Now this is not hard work, you must agree, and you can expect to earn $1 per month for each image that you have up-loaded.
So after your first month, you should be earning $80, and after two months this naturally progresses to $160, and then $240 etc.
In month three you could start doing
fences, and in month five you can think about telephone poles, or
pathways, or government buildings, or church steps. There is a huge market for images of virtually everything. One of my favorite depositories is www.123rf.com
The secret key to this very profitable hobby is establishing a Routine. Just routinely spend one Saturday each month taking photos, and then two or three nights uploading your images to various Depositories.
You'll be able to look back at the end of your first year and realize that you've earned $6,240. Which is likely to become $12,480 next year, and then $18,720 in Year Three - and remember, this is the result from just one day per month, plus a few hours later when you upload!
Now you must agree that each of these concepts - the bed & breakfast, pottery and photography - is a Very profitable hobby.
The manual "37 Case Studies" contains a variety of very profitable hobbies which you can easily start with very little cost.
“Wow! I never realized that there are so many ways to make money in my spare time. Thank you so much. Your manual is great!” CT from Mitcham, Australia
“I really should say thank you for your ideas. I didn’t realize how easy it was to sell all off my household ‘stuff’ on eBay. If I find that I really enjoy it, it will obviously become a profitable hobby for me”. NF from Waikato, New Zealand