Money Making Hobbies

With prices skyrocketing on everything from gas to food, a little extra money would certainly come in handy.

And it may be closer than you think...if you've got the right hobby.

Since she was a little girl, Darlene Faulkner's hobby has been making cakes.

But several years ago she decided that instead of just feeding her creations to family, she'd feed her family with her creations.

"I love what I do because it's a creative outlet for me. I get to design something incredible that's bizarre and different and unusual and pretty and looks like a piece of art but is edible and tastes fantastic when you're done,” Faulkner said. “I make people happy for a living."

For her the change came when she got a culinary degree...

"Once I got out of school, people feel better about paying you for something when you have a degree. As compared to when it's just something you're doing out of your house."

But probably everyone with a hobby they love has dreamed of making money from it.

Step one in determining if your hobby can make money is to see if there's competition: if there is, that's good; it means there's a market.

Then see if your product is competitive. Test it on family and friends first, but don't stop there.

“It's one thing when you just do it because you love it, then you get all your friends and all their friends...and all their friends. Anybody who says, ‘Oh, I know somebody who can make a really great cake and make it really pretty... you've got a birthday. let's have her do it.’”

And whether you're talking cakes, cars or anything else, that's the way it starts: a consuming hobby, a market, and a word-of-mouth marketing plan.

But that's just the beginning, there are more tips you need to know and places to go for free help.

Watch KARK 4 News tomorrow at 10:00 for that.