The latest buzzword in the business world is hobbypreneur which is someone who is in the process of, or has already, turned a hobby into a small business. The term really took off when there was this news story about various people who were turning their jewelry and craft making hobby into viable businesses. People who work with beads and make jewelry are natural hobbypreneurs because there is obviously only so much jewelry you can make for yourself before you start looking for ways to make your hobby pay for itself.

Starting you own home jewelry business and becoming a hobbypreneur may not be easy, but more and more people are jumping in and trying anyway. Interestingly, the market for handcrafted jewelry and the rise of the hobbypreneur are both tied to some very common social and economic trends that we’ve been seeing for a while:

Aging Population: It pains me to say this (“Oh, my aching neck and shoulders!”), but we’re all getting older! Baby Boomers are retiring and looking for ways to keep busy (like learning new craft skills) and many now have the time to find new interests. I’ve noticed that the people visiting my jewelry booth each year are more than likely people over 40. Maybe it’s just my traditional jewelry style, but I have too many teenagers looking to buy my jewelry.

Down Economy: Whenever the economy goes through a prolonged slump and jobs become scarce people do two things: they cut back on expensive luxuries and they look for ways to make more money. While gold and gemstone jewelry may be out, most people can still afford much less expensive handcrafted bead jewelry. In fact, I would argue that a recession is a great time to start a jewelry business. With a down economy you’ll also find more people jumping into jewelry making as a way to not only have jewelry for themselves, but also to raise a little extra money on the side.

New Technologies: Have you heard of this thing called the Internet? LOL! Websites like Etsy and eBay and electronic shipping carts have all made it so much easier for people to sell and buy handmade jewelry. We’re no longer limited to just buying jewelry supplies from the local craft store: instead we can jump online and shop for beads and jewelry supplies from around the world! The same technology that allows you to buy beads from another country also allows you to sell to the entire world!

Look around and you’ll find that most people who are making and selling bead jewelry probably hobbypreneurs who started out working with beads on a whim as a relaxing hobby and then quickly moved into trying to make some money from their jewelry designs. It’s fun to do something you love and get paid for it at the same time. For many of us it’s still a novel idea that our hobby of jewelry making can actually be a decent source of income if you’re willing to put in the time and energy to grow it into a small business.

I think you’ll be hearing a lot more about hobbypreneurs in the future and I think people who make their own jewelry will be right on the cutting edge. We’re smart, resourceful, good looking and not afraid to learn new things!

Now let’s just hope we can have fun and be profitable!