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According to Study Finds, of American homeowners surveyed, “73 percent get excited at the thought of renovating their homes, and 65 percent are looking forward to renovating their home in the new year.” If you are a do-it-yourself enthusiast, now is the perfect time to find ways to inspire others to chase their passions while also earning an income from your efforts. Thomas Halstead Designs shares a few ideas below:
Start a Blog or Website
One of the easiest ways to monetize your home improvement passion is to write a blog or create a website to share your journey. You can post before and after pictures of your projects, talk about your challenges and triumphs, write helpful how-to articles and post ideas for how your readers can make their DIY dreams come true.
There are multiple ways you can monetize your blog or website. One of the most popular is affiliate marketing. Affiliate marketing works by signing up with a company or an affiliate marketing service to get links to products related to the topics you talk about. When readers click on your links and make a purchase, you get a commission on the sale. Other ways you can monetize include banner ads and sponsored posts.
Turn Your Passion Into a Business
Once you start generating some income, you may want to formally start your own business. This entails a few steps, including drafting a business plan, choosing a business structure, and registering your business with your state’s authorities. It’s a good idea to protect your personal assets by organizing your business as a limited liability company. An LLC is the easiest and least expensive type of business to set up. You can register your LLC with the state in as few as five steps and without completing much paperwork.
As a startup, securing funding for equipment purchases and other expenses may very well come into play. In addition to conventional small business loans and grants, many people who launch their own venture choose to get a home equity loan or home equity line of credit. The amount of equity you have in your home is basically calculated by subtracting the amount you owe on your mortgage from the current market value of your property.
Leverage Social Media
To make money off a blog or website, you must drive traffic. One of the best ways to do this is to post ads on social media. Your ads will be more memorable if you design a logo for your company that makes a strong first impression, separates your business from the competition and builds your brand. If your budget can't accommodate a professional logo designer, use an online app to help you easily design a logo yourself. To create an appealing logo, you just need to choose the style you like, pick an icon and then tweak the colors and fonts.
In addition to a logo, memes are a fun and easy way to engage with your followers and to connect with like-minded people. Whether you're looking for funny, relatable, or thought-provoking memes, you can use a meme maker to design memorable memes, which are easily shared and will likely increase exposure to your brand. Once you choose a template, you can customize it by adding your own background and changing the appearance of the text.
Partner With Other Businesses
Even dedicated DIY enthusiasts sometimes need help with their projects. Seek out businesses that provide complementary services to partner with. You may be able to work out a referral program where you get paid for referring your readers to your partners. Miles Burke notes that other potential benefits include building your audience by guest posting on your partner's blogs or running banner ads on their sites.
Sell a Product
Your blog or website should have valuable content or your readers will stop reading. However, you don't have to give away all of your best knowledge for free. Write an informative eBook or create an online course about home improvement and sell it on your site.
Start an eCommerce Site
Online platforms, such as Shopify, make it easy to add an eCommerce store to your blog or website. You can make your own products to sell or work with a drop shipper to sell products that are relevant to your audience.
There is a huge audience for home improvement topics. By monetizing your passion, you can generate income from this audience while also helping other DIY enthusiasts chase their passions. Remember to start a blog or website, leverage social media and memes, and partner with other businesses to increase your reach.