Small Business Ideas You Can Start in Your Retirement
BY: BORIS DZHINGAROV ON WEDNESDAY, JULY 27, 2016
Many retirees who have been employees all of their lives are not quite ready to quit working altogether after they retire from their job. For many retirees, this means starting a business – not only does this mean that they can finally be their own boss after years of employment, it also means that they’ll have a great opportunity to carry on working and earn more money towards a retirement that’s even more comfortable. Whether you have just started your retirement or are planning to retire in the near future, here are some of the best businesses that you could start as a retiree.
Coaching and Consulting
When it comes to starting a business as a consultant or coach, retirees are often the best people for the job. When starting a business as a retiree it’s important to take into account your past life experience and the skills you acquired from your past career. Business coaches believe that since retirees have had a lot of life and career experience, this makes them some of the best candidates for coaching other people and helping them to get the best from their lives or career. If you have always been successful and want to help others to achieve the same, setting up a business as a coach or consultant could be the perfect opportunity for you. Consider a reverse mortgage, rather than a business loan, for funding your new endeavor.
If you have the type of skills needed in order to provide a service, this could be a great business industry to look into as a retiree. Services such as housekeeping, catering, gardening or even childminding are always in demand, and many retirees have the skills needed to provide these services flawlessly. For example, if you’ve always been into doing DIY and odd jobs around the home, why not make your hobby into a profitable business by offering these services to others? Another great idea for a service-based business for retirees to consider is elder care, with many older people needing somebody to help them with things such as buying groceries, housekeeping, or cooking.
So long as you don’t allow technology to intimidate you, setting up an online business can be a great idea for anybody who’s looking to start a new business venture during retirement. When it comes to setting up a business online, there are hundreds of different options to choose from. Buying and selling products, freelance writing, or even affiliate marketing are some great online business options for retirees who are not intimidated by technology. Experts say that online businesses are some of the best types of businesses for the over 50’s, so don’t just look offline when it comes to your entrepreneurial options.
If you are set to retire soon but don’t quite want to finish working and earning money just yet, setting up a business is one of the best choices for you. With your own business, you’ll be able to set your own terms and be your own boss.
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