Home – New Forums Starting your journey Making a Hobby into a Business

  • This topic is empty.
Viewing 12 posts - 1 through 12 (of 12 total)
  • Author
    Posts
  • #979541
    T j Turner
    Member
    • Total posts: 240
    Up
    0
    ::

    I would like to make my hobby into a business sometime next year but not sure how to go about it. I already have an ABN for my other business which I will be closing down once all stock is sold.

    I make a variety of soaps, bath salts, hand cream, pamper packs and more

    Also I am looking for websites that might have some information on how I go about making it into a business even though I have googled for information but can’t seem to find what I am after. Is there any websites that might be out there for regulations, etc for this type of business as I am hoping to be doing a NEIS program next year and would like to do some research for this type of information for my application form

    #1115040
    tonyk
    Member
    • Total posts: 1,430
    Up
    0
    ::
    T j Turner, post: 129058 wrote:
    I would like to make my hobby into a business sometime next year but not sure how to go about it. I already have an ABN for my other business which I will be closing down once all stock is sold.

    I make a variety of soaps, bath salts, hand cream, pamper packs and more

    Also I am looking for websites that might have some information on how I go about making it into a business even though I have googled for information but can’t seem to find what I am after. Is there any websites that might be out there for regulations, etc for this type of business as I am hoping to be doing a NEIS program next year and would like to do some research for this type of information for my application form

    In order to be on the NEIS program, you need to be receiving money from Centrelink.

    #1115041
    kathiemt
    Member
    • Total posts: 1,167
    Up
    0
    ::

    Hi TJ, I grew up not far from you, in Elizabeth East.

    There are lots of people doing what you’re doing and I think the best place to find these people would be via Facebook and also Etsy.com. Are you aware of Etsy?

    I did a quick Google search for “pamper soaps” and one of the top listings was a business in Sydney on Facebook with over 5,000 fans. I bet if you did a similar search you’ll find several sites and the best way to learn about this type of business is to hang out with those already doing it. So follow them on Facebook, Twitter, LinkedIn, here, anywhere else. Etsy has discussion groups so you’ll find out lots there too I’m sure. And chatting with those here in Australia you’ll be able to find out any regulations you need to meet.

    Also check out local markets – perhaps up in Gawler or maybe Tarlee, or even Salisbury. There must be weekend markets somewhere not too far away from you where you can chat to stall holders and check out what they’re doing, collect their brochures for research and so on.

    I’ve been working at developing my hobby of photography into a business too and have been doing exactly this, hanging out with photographers, joining photography forums and attending local markets. Good way to learn things.

    #1115042
    T j Turner
    Member
    • Total posts: 240
    Up
    0
    ::
    tonyk, post: 129059 wrote:
    In order to be on the NEIS program, you need to be receiving money from Centrelink.

    I know about the NEIS program as I have made enquiries about it plus I am also on Centrelink benfit

    #1115043
    kathiemt
    Member
    • Total posts: 1,167
    Up
    0
    ::

    I should add Etsy has a very strong Australian membership, even has an office here in Australia and is present at markets in Melbourne so hopefully elsewhere too.

    #1115044
    tonyk
    Member
    • Total posts: 1,430
    Up
    0
    ::
    T j Turner, post: 129063 wrote:
    I know about the NEIS program as I have made enquiries about it plus I am also on Centrelink benfit

    No worries. Best of luck with it all. Good program.

    #1115045
    T j Turner
    Member
    • Total posts: 240
    Up
    0
    ::
    kathiemt, post: 129062 wrote:
    Hi TJ, I grew up not far from you, in Elizabeth East.

    There are lots of people doing what you’re doing and I think the best place to find these people would be via Facebook and also Etsy.com. Are you aware of Etsy?

    I did a quick Google search for “pamper soaps” and one of the top listings was a business in Sydney on Facebook with over 5,000 fans. I bet if you did a similar search you’ll find several sites and the best way to learn about this type of business is to hang out with those already doing it. So follow them on Facebook, Twitter, LinkedIn, here, anywhere else. Etsy has discussion groups so you’ll find out lots there too I’m sure. And chatting with those here in Australia you’ll be able to find out any regulations you need to meet.

    Also check out local markets – perhaps up in Gawler or maybe Tarlee, or even Salisbury. There must be weekend markets somewhere not too far away from you where you can chat to stall holders and check out what they’re doing, collect their brochures for research and so on.

    I’ve been working at developing my hobby of photography into a business too and have been doing exactly this, hanging out with photographers, joining photography forums and attending local markets. Good way to learn things.

    We don’t have a lot of markets around near me. There is one local market coming up in our council area which I will be going to check out as I will be selling my soaps, etc there at the next market. I have been making soaps, etc for about 5 months now. I cant get to the market in Gawler as I don’t drive and relay on public transport

    I sell some of my items on my facebook business page and we don’t have a lot of people around the Elizabeth area that sells things like what I make and sell

    I didn’t know about Etsy

    #1115046
    T j Turner
    Member
    • Total posts: 240
    Up
    0
    ::
    tonyk, post: 129065 wrote:
    No worries. Best of luck with it all. Good program.

    Thanks for that tonyk I can’t wait to do it and hoping it will help me set my hobby up as a good business

    #1115047
    Past-Member
    Member
    • Total posts: 1,815
    Up
    0
    ::

    TJ – your ABN remains with you as a sole trader. If you register a different business name, it will still be the same ABN if you are solo. You must advise the ATO at tax time of your other trading name and you will need the ABN to register another trading name.

    There are some threads on this elsewhere if you search ABN.

    All the best with your new venture.

    .

    #1115048
    T j Turner
    Member
    • Total posts: 240
    Up
    0
    ::
    KarenC, post: 129068 wrote:
    TJ – your ABN remains with you as a sole trader. If you register a different business name, it will still be the same ABN if you are solo. You must advise the ATO at tax time of your other trading name and you will need the ABN to register another trading name.

    There are some threads on this elsewhere if you search ABN.

    All the best with your new venture.

    .

    I trade under my own name and applied for a business name last month so I can use it for markets as it is what I am using on facebook as well

    #1115049
    SuzsSpace
    Participant
    • Total posts: 692
    Up
    0
    ::

    Here’s a good website for markets.

    http://www.marketangel.com.au/

    She has lots of markets listed and a nice mailing list as well.

    #1115050
    JacquiPryor
    Member
    • Total posts: 2,344
    Up
    0
    ::

    Hi TJ,

    As to licensing and regulations for your business type – for South Australia – you can search here to find out what permits you might require, and other general information about ‘setting up’ your business. This will give you a pretty good overview depending on your council & business type as to the various things you may need to know.

    As to “making your hobby a business” – this is a very broad question to be answered. From the ATO’s perspective if you engaged in repetative activity and profitting (or have the prospect of profitting), or generally you would better describe your activities as a business then they’ll see you as a business for tax purposes.

    All the best with it :)

Viewing 12 posts - 1 through 12 (of 12 total)
  • You must be logged in to reply to this topic.