Profitable Small Scale Business ideas for Retirees

<img class=”alignleft size-medium wp-image-1320″ src=”×170.jpg” alt=”Business ideas for Retirees” width=”300″ height=”170″ />If you are approaching your retirement, and you are wondering how to prevent your pocket from drying up when you stop working, then this post is for you. Many people see retirement as a time for relaxation, travel, or pursuing other life-long passions that will keep draining their money.

But you can turn your free time into a new career. This is even necessary because chances are you will need additional income to supplement your pensions and savings for the long term. So without wasting your time, below are ten business ideas that you can explore to make more money after retirement.

1.Start a professional public speaking service business

If business consultancy is not the way to go for you, then you can sell your expertise or knowledge on platforms. You can become a professional speaker; leveraging your job experience and acquired skills. Your subject line is limitless, all you need is to identify a need and add a little touch of creativity.

2. Start a blog based on your expertise

Take the approach of starting a consultancy business and bring it online; voila! You have just started a blog. Starting a blog costs little or next to nothing but the potentials is great. Starting a blog is a very fulfilling way to making money during your retirement years. Aside that it offers you the comfort of working right from your home, you will derive some fulfillment in helping others with useful information.

There are many topics you can blog about; your career field or industry, your experience, your hobby, retirement itself, politics, health, technology, and whatnot. If you offer quality content consistently, you will build a huge loyal audience and make a lot of money in the long term. Better yet, apply to contribute valuable articles to an existing blog and get paid for that. That would cut it if you can’t start a blog from scratch.

3. Tutoring

Contrary to what most people think, having worked as a teacher during your active years isn’t a condition for starting a tutoring service. All you need is a good grasp of a school subject (mathematics, English language, etc) or a special skill (music, catering, etc).

If you are really good at imparting your knowledge to others, you will attract lots of students, and you will make lots of money, too. So, if you are thinking of a good career to start during retirement, turn private tutoring into a start-up business. And you can hire other tutors to work with you.

4. Repairing service

If you have a knack for fixing faults in electronic or other devices, then you can make a lot of money doing this. Many devices, especially electronics are in increasingly high demand and only few people are very good at repairing them. You may need to learn from an expert or take some courses in order to polish your skills and keep abreast with the technology employed in latest devices.

5. Bed-and-Breakfast

While other retirees may seek a new career out of their homes, you can find a rewarding employment opportunity in the comfort of your home. If you have a full house to yourself, running a bed-and-breakfast (B&B) is a good business idea.

In case you are feeling at sea, a B&B is a lodge that offers guests an overnight stay and breakfast. On the average, a B&B has about 6 bedrooms. B&B’s are becoming more popular because visitors prefer being treated as invited guests than as anonymous boarders.

6. Tax service

According to Benjamin Franklin, nothing is certain except death and taxes. This means there will always be a huge demand for tax professionals. If you enjoy tax work and have the know-how, tax business is an all-year round retirement business opportunity for you. To start a business that offers tax services, you must register with the IRS, pass a proficiency exam (this is waived for licensed attorneys and CPAs), and complete some annual continuing education training.

7. Pet sitting

This is one of the few businesses that will continue to enjoy great patronage even in the face of recessions. According to the National Association of Professional Pet Sitters, nearly two-thirds of American households own a pet. Last year, Americans spent a whopping $47.7 billion on pet care. A pet sitter looks after pets at the owner’s home while the owner is away at work, vacation, or elsewhere.

With professional pet sitters available, pet owners can confidently leave their pets at home, rather than boarding them at a kennel of vet’s office; knowing that their pets will be able to maintain their eating and exercise routines and get all the love and care they deserve. If you love pets, this is a good business idea for you.

8. Catering

If you are very good at cooking, then you can make a lot of money by meeting the needs of many hungry souls for mouth-watering meals. The good news about the catering business is that there is a large market to serve. There is no stiff competition; neither are there any notable major market players. So, you can start earning huge profits as quickly as possible.

9. E-commerce

With more people embracing the idea of buying products they need online, e-commerce is becoming more lucrative than the traditional methods of trading. And that’s why many businesses are setting up online stores as a way of keeping abreast of modern trends. A good retirement business idea is to start an e-commerce store that sells products online. Though very lucrative, this business may be expensive to start, depending on what products you’re offering.


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