5 Business Ideas for Retirees

5 Business Ideas for Retirees
  • Opening Intro -

    You have or will soon be entering your retirement years, putting 35, 40 years or more of work history behind you.

    Yet, you cannot imagine yourself transitioning from a full work schedule to a life of leisure — after all there is only so much golf, volunteering and travel that you can do.

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For many retirees, leaving their career behind is an opportunity, one where they can pursue something different, perhaps a deferred dream. If you have a dream, the pursue it. For everyone else, fresh ideas may be needed, therefore we’ll serve up five for your consideration.

1. Bed and Breakfast Proprietor

You have a hankering for hospitality, but you cannot imagine yourself working behind a desk at a hotel. What you might like is running a small establishment, namely a bed and breakfast establishment. A B&B might be run out of your own home or you and your spouse might purchase an existing facility as your own.

With a B&B, you entertain just a handful of guests in your home. That home may have one or more bedrooms reserved for guests with you providing breakfast and housekeeping services. It is a more relaxed way of managing a business. Best of all, when you want to take a break, you block off those weeks you aren’t taking in guests.

2. Tax Preparation Services

If you were an accountant or a bookkeeper, you can keep your financial acumen up by establishing or working for a tax preparation service. The beauty of this option is that you are busy for no more than four months of the year — the rest of the year you can do something else or cut back your schedule.

Besides tax preparation services, you might provide tax advice, including counseling. For some tax accountants contractual services may be sufficient. Others may feel more comfortable handling estates or providing other personalized services on a per client or a per diem basis.

3. Your Writing Muse

Your career had you doing everything but what you really wanted to do. In this case, writing. Your love of writing may not necessarily lead to a second career, but it could provide some cash on the side.

Businesses, small and large, need people who can write press releases, update websites, contribute articles, or otherwise fill gaps that these businesses cannot handle alone. If you have a writing talent, then share what you know with those that need you.

4. Pet Services

You love your pets and you have a way with dogs, cats and, yes, your grandchildren’s ferrets. You cannot imagine living without your collection of furry friends and have been known to care for pets belonging to your friends. That’s a service you can offer!

Turn your talent into a paying service, starting with the people you know, their friends and referrals. Decide whether your service will include pet walking, overnight pet care, or some other services.

5. Consultation Services

Whatever you did for your career can be repeated, but without the headaches. Specifically, you can take that talent and provide consultation services. And your services can cover a myriad of areas — accounting, food management, medical and so on.

By consulting, you set your hours and determine which clients you will work with. Because “making a living” may not be a priority, you offer your services when as you see fit.

Business Assistance

If you do not know how to set up a business, your peers can help you. Indeed, the men and women of SCORE are former business owners or managers themselves, and can guide you in your endeavor.

See AlsoSelling Your Business In a So-So Market

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