The Rise of the Side Hustle: How Krista LeRay Transformed Her Passion into a Profitable Business

In today’s economic landscape, the concept of the side hustle has gained remarkable traction. More than one-third of U.S. adults are now engaged in side gigs, generating an average of $891 monthly, according to recent research from Bankrate. For many, these supplemental incomes can rival or even surpass their full-time salaries. One inspiring example of this trend is Krista LeRay, founder of Penny Linn, a new-age needlepoint store. Her journey from a corporate job to a thriving business offers valuable insights for aspiring side hustlers.

The Genesis of Penny Linn

Krista LeRay, a 34-year-old entrepreneur from Westport, Connecticut, began her career as a full-time influencer with her blog, Covering The Bases. While she initially worked in corporate social media for Major League Baseball, her passion for needlepoint, inspired by her grandmother, led her to explore this craft more deeply. After stitching custom items for her family, she realized there was a gap in the market for modern, fun needlepoint products.

Inspiration Strikes

LeRay’s journey took a pivotal turn during the pandemic. As she revisited her love for needlepoint, she found the shopping experience outdated and uninspiring. This realization sparked her desire to create a more engaging and accessible needlepoint brand. Thus, Penny Linn was born, aiming to revitalize the needlepoint community with innovative designs and a user-friendly shopping experience.

Launching the Side Hustle

Starting Penny Linn was not a straightforward process. Initially, LeRay viewed her venture as a hobby rather than a business. With an investment of under $100 for supplies, she began painting her own canvases. The turning point came when her followers expressed interest in purchasing her creations. Recognizing the demand, she decided to take her side hustle seriously.

Initial Steps and Investments

LeRay’s first steps involved sourcing materials and creating a small inventory. She utilized her existing business bank account from her blog to fund her initial purchases. With an investment of about $5,000 for inventory and an additional $2,000 for shipping materials, she was ready to launch her online store. However, the most significant investment was her time spent hand-painting canvases, which laid the foundation for her brand’s identity.

Lessons Learned Along the Way

Reflecting on her journey, LeRay acknowledges the challenges she faced. One of her biggest regrets was not outsourcing tasks sooner. While her hands-on approach provided invaluable insights into her business, it also consumed a significant amount of her time. She learned the importance of balancing control with delegation, a lesson that many entrepreneurs encounter.

Overcoming Challenges

LeRay faced pushback from industry veterans when she introduced innovative ideas. However, her resilience paid off. For instance, when launching a new acrylic line, she encountered skepticism but ultimately secured a patent for the design, which became one of her bestsellers. This experience taught her the value of perseverance and the importance of believing in her vision.

Revenue Growth and Business Evolution

Penny Linn’s growth trajectory has been impressive. Initially, revenue was inconsistent, primarily driven by product launches. However, as LeRay expanded her inventory and introduced the Penny Linn Collective, which features designs from other creators, her business began to stabilize. By the second year, she was generating over $30,000 per month, a figure that has since skyrocketed.

Current Success Metrics

In 2024, Penny Linn achieved $4.4 million in revenue, with projections indicating continued growth. Currently averaging $570,000 monthly, LeRay’s business has doubled or tripled each year. This explosive growth has opened new opportunities, including the recent opening of a physical store in Norwalk, Connecticut.

The Joy of Entrepreneurship

What keeps LeRay motivated is her passion for her craft. She takes immense pride in creating products that resonate with her community. The satisfaction of reviving a centuries-old tradition and making it relevant for a new generation is a driving force behind her success.

Advice for Aspiring Side Hustlers

LeRay offers valuable advice for those considering a side hustle:

Ask for What You Want: Don’t be afraid to reach out for opportunities. The worst response is no response.

Differentiate Feedback from Criticism: Learn to discern constructive feedback from negativity. Focus on insights from loyal customers to improve your offerings.

Conclusion

Krista LeRay’s journey from a corporate job to a successful entrepreneur exemplifies the potential of side hustles in today’s economy. With determination, creativity, and a willingness to learn, anyone can turn their passion into a profitable venture. As the side hustle culture continues to thrive, stories like LeRay’s inspire countless others to take the leap and explore their entrepreneurial dreams. Whether you’re looking to earn extra cash or build a full-fledged business, the possibilities are endless in this era of opportunity.