Doing what you love and getting paid for it? That sounds like a dream. But before you turn your hobby into a business, consider whether it’s really a good idea.
Do you love what you do, even when it’s hard?
If your hobby still sparks joy when you’re tired, under pressure or doing it for someone else’s approval (or money), you’re on solid ground. A hobby, by definition, is something you do for fun and stop doing when it’s not fun. But a business must be consistent, so you need to keep pushing through even when you’re not having a great time.
Are people already asking to pay you?
If you’re creating something or helping people out, and your friends keep saying, “I would buy this” or “Why are you doing this for free? I would pay for this service,” there’s clearly a market for your hobby. Maybe you do something that very few people in Israel are doing, or you’ve got a flair that makes your product unique. Survey some people in your outer circle and find out whether you can turn this hobby into a living. Please don’t start as a business as a way to escape a bad job without doing proper research.
Are you prepared for admin?
A hobby is about doing what you love and only what you love. But a business in Israel requires dealing with taxes, Bituach Leumi and VAT, on top of marketing, inventory, customer service and manpower. Plus, you’ll get your fair share of rejection and criticism. Don’t start a business unless you’re ready to take all that on. For more on the admin involved in opening and running a business in Israel, see Osek Patur – Guidance for Your New Business.
Can you make a profit?
Love doesn’t pay the bills. Make sure there’s enough market demand and pricing power to cover your time and costs and leave you with a salary that you can live on. Don’t fall into the trap of making a product that’s more expensive than Israeli customers are willing to pay, or offering a service so upscale that you’ve priced yourself out of the market.
Are you OK with no longer having a hobby?
Once you’ve turned your hobby into a business, it will no longer be your hobby. Deadlines, client expectations and competition will replace the carefree joy you used to find in it. You might have to find another way to spend your leisure time.
What’s the bottom line?
Ultimately, transforming a beloved hobby into a thriving business can be an incredibly fulfilling journey. However, it requires more than just passion. Diligent market research, a solid understanding of the administrative demands in Israel and a realistic expectation that the fun element of the hobby might shift are crucial. While the transition involves challenges and trade-offs, for those who possess unwavering dedication, meticulous planning and a willingness to adapt, taking the leap could unlock a rewarding new chapter of professional and personal growth.
