The hobby business

Discussion in 'Getting Started' started by Matt Probst, Jun 24, 2002.

  1. Matt Probst

    Matt Probst Member

    The other day, our local newspaper featured an article in the business section on the growth of the hobby business and I thought you'll find it interesting. The gist of the article was talking about "baby boomers" in particular and how the industry has grown recently. Last year for interest, the industry as a whole has grown to $25.7 billion, up a whopping 11% from the $23 billion in 2000. Among the biggest increases were in gardening, pottery, painting, cooking and MODEL RAILROADING.
    Some other interesting statistics:
    --58% of American households take part in hobbies: Up from 54% last year.
    --Stock analysts have contributed some of the growth to in-home oriented activities including model railroading since Sept. 11th. (Osama thought he could drive Americans into their basements. I bet he never thought it would boost our economy in the process!!
    :D \

    Have a great day folks!!
    Matt--Chocolatetown, Pa.
  2. Woodie

    Woodie Active Member

    Is sex a hobby? Did the stats indicate how much gets spent on that "hobby"???;) :p
  3. Vic

    Vic Active Member

    A Hobby

    Hi Woodie.....LMAO!!!:D :D :D :D :D

    It probably falls more in the area of an avocation rather than a hobby!!!:D :D :D :D :p :p

    Bet "Bet Dollars to Doughnuts" the "bean counters" that made that survey never tried to make a living in the hobby shop business!!!!!:p :p :p
  4. rockislandmike

    rockislandmike Active Member

    Speaking as the resident "budget analyst" once again, you'll notice the survey did not say boo about "making money" in any business - simply that revenues were up.......................

    BIG, no HUGE, difference between increased revenues and actually turning a profit.

    I was talking to a distributor last week, and were commenting how that hobbyists who actually start a business usually end up failing - they love their hobby too much to actually be objective about it.................those that are businesspeople first, and hobbyists second, tend to do far better.

    Just grind for the windmill...................
  5. alkcnw

    alkcnw Member

    I could never own a train store, all my merchandise would end up in my basement instead of the store!!:eek:
  6. Vic

    Vic Active Member

    Hi Mike, Actually I did quite well in that business but after 10 years I just wanted to move on to something else.

    But you "hit the nail on the head":D .... The gentleman I sold the business to was out of business in about a year for the very reason you pointed out:(

    Keep the "grindstone" turning:D :D :D
  7. 60103

    60103 Pooh Bah

    I see a slightly different aspect of the hobby business. When you're modelling railways from another continent, you have to find different sources of supply, Luckily, we have a (small) number of our club members who import British railway bits. Most of them were enthisiasts who started up as a service for their friends and expanded. One of them tells me that his accountant suggests that he should find something else to invest his money in. Another looks at it as his excuse to go to railway shows -- if he makes his expenses he's happy. Still another has two lines -- trains and "bric a brac" (one of the guys calls it) -- tea towels and jubilee mugs
    We also have a number of ex-dealers who found that the time and aggravation were not rewarded enough.

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