Small Business Ideas for Retirees
Retirement is an important milestone in people’s careers. People retire to spend more time enjoying the things they like, such as traveling, gardening or spending time with friends and family. However, some retirees get bored, and others need a flow of income to live the lifestyle they want. Both reasons can lead a retiree to start a small business. The business can be fun and rewarding and allows retirees to make money doing something they like while keeping them active and busy. If you are in search of small business ideas after your retirement, here we present the best ideas:
If you like knitting, carpentry or any other manual art, you can take your passion and creativity and turn it into a small company. For example, you can knit sweaters and other items of clothing and sell them to stores or online through your website. Or you can pay for booths or tables at fairs, farmers markets or craft fairs and sell your work to attendees at these events. Creating a business around your crafts is a good idea because it requires little money and allows you to do something you enjoy while earning money.
A consulting business is another small business idea for retirees. Consulting companies allow you to work as much or as little as you want and use your knowledge or experience to help people or companies. For example, if you were a marketing professional before retirement, consider starting a marketing consulting firm to help people create and implement marketing plans and campaigns. Consulting allows you to continue using your professional skills, even in retirement.
Practical work and other casual jobs are another small business idea for retirees. Practical work requires a little physical activity, so it is commonly better for younger retirees or those in good physical shape. But it is a way to earn money and stay physically active while helping people and doing the tasks you like. Examples include minor home repairs, mowing the lawn, or building new items for the home such as shelves, cabinets, or even shed.
Retirees can also enjoy part-time or independent writing as a secondary business. This is especially attractive to retirees who are good writers or were writers during their careers. Retirees can get a 2020 medicare advantage plan and write from anywhere and submit their work to websites, blogs or publications via email or online postings. Retirees can also choose to write fiction or memoirs about their life and try to sell the work to publishers.