Making money from your hobbies is not an easy thing to do. Not only do you need to make sure that you have all the legal and tax considerations taken care of, but you need to have enough stock and leads to make a profit. A good place to start is by researching which supplies, licenses and platforms you need to include in your business plan.
Some of the supplies that you will need for electroplating include plating tanks that will not react with the plating solution, this usually means heavy-duty plastic and a power source. You will need leads to connect the item you are electroplating to the battery. You will also need an electrode of the coating material and the item you want to electroplate. The more you plan on producing, the more you will have to research getting the supplies in an affordable fashion.
Different types of businesses will need different types of licenses. For instance, if you are using an acidic solution for electroplating or anodizing, then you might need to have a license or certification to have the amounts, and types, of acid that you work with. Looking into local, state and federal laws regulations can help you determine which licenses you will need for your business.
An important item to include in your business plan is which platforms you are going to sell your items on. this can include your own website, a third-party seller site or even art shows and local small businesses. It is a good idea to include social media marketing in your plan and to research what you need to sell items on each of the most popular platforms.
Turning your hobby into a profitable business can be something that you jump into with both feet or something that you wade into one step at a time. Either way, it is a good idea to have a business plan which includes things like getting supplies and licenses as well as vendor platforms you plan on using.…Continue Reading