Monetizing Home Improvements: From Passion to a Steady Income
Written by Jennifer Scott
Who doesn’t love a beautiful, luxurious, and functional home? If you’re a fan of DIY home improvements and regularly make upgrades to your house to make it better, then you could truly turn your passion into a steady income stream: People are always interested in such projects and, more importantly, willing to invest in them. In this mini-guide, Susan Newberry Designs walks you through how you could practically turn your home improvement passion into a money-making business.
BE PROFESSIONAL AND TREAT HOME MONETIZATION LIKE A BUSINESS
You’ll have more success if you get serious about home monetization and treat it like a business than a money-making hobby on the side. Not only will you put more thought and effort into it, but people will also take you more seriously if you have an official company. You should begin by gathering seed money, nailing down your monetization strategies, and detailing everything in a business plan. The legalities to take care of include registering your business, gaining a license, acquiring an EIN, and registering a business name.
For bonus points, you should consider forming an LLC. This makes you extra professional and, more importantly, protects your assets against lawsuits. LLCs are the cheapest and easiest entities to set up. You can register an LLC with the state without a lot of paperwork, in as few as five steps.
CREATE A WEBSITE WITH A BLOG
Having a website is essential to monetization these days. It allows people to learn more about you and your various services. People can see your work for themselves, too. You get extra authority points if you create a blog and write about your various projects. People will more likely see you as an expert, that way. As a bonus, you could generate extra money through affiliate marketing or advertising.
CONSIDER SALES AND AFFILIATE MARKETING
You could create a home-improvements shop on your website and sell related products directly to make money. Examples include home-improvement guides, paint, wallpaper, decoration, tools, fixtures, DIY kits, and supplies, among other things. Take a look at Susan Newberry Designs for inspiration. Alternatively, you could refer your readers or visitors to another external website and make money through commissions.
START A YOUTUBE CHANNEL OR SIMILAR
Nothing is more impactful than visual content – viewers can relate more and learn faster through videos and pictures. If you release videos of your home improvement projects, you could gain many views for your projects and, by extension, many interested followers. On YouTube and some other channels, you can generate money based on views. Additionally, you could funnel viewers to your website. You’ll have the most luck generating views if you create professional-quality content that appeals to viewers. A wedding-theme home improvement project would attract a large demographic, for instance.
PASS YOUR SKILLS ON
An indirect way of making money through home-improvement projects is by educating other people. You could, for instance, write a book on home improvement and include your various projects in it. You could host workshops to teach your attendees basic or advanced home improvement skills, depending on your skill level. Online paid tutorials are also an option. Finally, you could also teach someone directly for a fee.
MARKET YOURSELF BY ENGAGING WITH YOUR FOLLOWERS ON SOCIAL MEDIA
Marketing is an essential part of becoming successful in business – if there is one business function you’re going to prioritize, make it this. Good marketing is how you stand out among other home monetization businesses and become memorable. You should strive to engage with your followers on social media – it’s one of the most effective marketing channels there is.
Memes are a convenient, high-impact way to draw in followers on social media. They allow you to share funny, relatable, or thought-provoking content that’s easy to get into and share. You can create eye-catching memes using an online meme maker. It’s easy – choose a template, add your own background, and pick or edit the text’s appearance. Click here for the best meme generator app on the market.
DRIVE TRAFFIC THROUGH SOCIAL MEDIA ADS FOR MORE MONEY
With a good social media marketing strategy – that uses memes to good effect – you’ll be able to find many followers and keep them engaged. You can generate income through these followers through various advertising strategies. Furthermore, you can also funnel your followers to your website to increase your income.
HOW TO PAY FOR HOME IMPROVEMENT PROJECTS
The more remodeling-related content you make, the more valuable you are likely to become and the higher your chances of attracting followers (on social media and elsewhere). Of course, home improvement projects can be expensive. Until you start generating a steady income, you may need to take out a home equity loan – it’s easy, convenient, and safe. Your home equity is determined by subtracting the amount you owe on your mortgage from the current market value of your home. It will tell you how big a home equity loan you can take out if you choose to pay for home improvements this way. Investopedia explains home equity in detail here.
CONCLUSION
Your home improvement hobby can be more than a simple pastime – if you treat it right, it could be a significant money-making opportunity. For the best results, get serious and make it a business. You’ll value your skills and services more and do the work you need to do to get yourself off the ground. Your reward could be recognition from many followers and a steady income stream.
ABOUT THE AUTHOR
Jennifer Scott is a single mom who writes about the ups and downs of her mental illness on SpiritFinder.org. The blog serves as both a source of information for people with mental illness and a forum where those living with anxiety and depression can come together to discuss their experiences. Based in Philadelphia, she enjoys traveling, working with animals, and seeking out new friendships and adventures.
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