20 Retirement Business Ideas

Let’s say you have decided to start a business to make some retirement income and keep yourself active. But what kind of business? Almost any business can be made to fit your retirement, but here are 20 ideas to get you thinking.

Teach Classes

Make a list of skills you have that others would find useful. Can you teach a class for either small groups or an individual? These could be in person or over the web.

Pet Sitting

Boy is this service appreciated by pet owners. Many would prefer a pet sitter to a kennel and once you establish a customer’s trust you will have them as a customer for life.

Rental Property Manager

Many real estate investors have money to buy their properties but no time to manage them. Maybe you can help them and start a nice little business for yourself.

Direct Sales

Do you have some experience in sales or at least like approaching and talking to people. As an independent sales agent you can help businesses that are too small for their own sales staff.

Running a franchise

Many retirees go this route. I personally think it is most appropriate for those with substantial savings, as most are not cheap and you don’t want to risk principal that you need for retirement income.

Tutoring

This one would be great for retired teachers and others that just like helping people one on one. There are many possibilities from young children to high school, college or even adults.

Computer Repair Business

People still need help repairing and upgrading their computers. Once you learn the skills this can be a lucrative side business.

“Other” Repair Business

Just like computers most things that are expensive enough to make repairs sensible can turn into a business. First step is to learn the necessary skills.

Consulting

This is the retirement business most often mentioned in lists like this. Many times your first customer can be your former employer. This can work for both parties as the former employer gains from your experience and you gain by having greater control over what projects you work on and how much you work.

Coaching

This is another often mentioned retirement business. It is similar to consulting except you are working one on one. This business may take time to get started and build a reputation but many coaches eventually earn high fees and have more work than they can handle.

Speaking

This might work for somebody who is well versed in a certain area and there are groups that are willing to pay for a speaking engagement.

Catering

This could be a good business for somebody who likes to cook for large groups and work with people. It doesn’t have to be large gatherings like weddings. You might build a business doing smaller gigs like dinner parties or barbecues, where the hostess would greatly appreciate having somebody handle the food while they spend time with their guests.

Senior Care

There are probably many potential businesses in this area with the millions of baby boomers that are turning into seniors and will need all kinds of services.

Handyman

Boy are they in demand. If you are good with little jobs many find they have more work then they can handle once they establish a good reputation.

Campground Worker

You could run this like a business by offering your services to assorted campgrounds or even gather a group of retirees together and coordinate sending them to local campgrounds on busy weekends.

Bed and Breakfast

Another business that appears on a lot of retirement business lists. This of course is a big undertaking but can be very fulfilling for the right kind of people.

Tourist Guide

Do you live anywhere near a popular tourist area? Really get to know the sights and the best restaurants and gift shops. Then rent yourself out as a guide.

Crafts

This can take hundreds of forms. You can sell your wares at craft malls and shows or on web sites like Etsy.

Writing

Again this can take many forms, from writing articles for bloggers to writing and publishing your own books.

Small Business Support Person

Many small business need all kinds of help and can’t afford to hire employees. Offer your general services to assist. This could be anything from becoming a virtual assistant and working from home to helping with whatever needs done at a particular location.

Art

Are you an artist? This can take many forms from selling your own fine art to prints. The key here is to establish a following and that can take some time.

Other thoughts

This list just scratches the surface as usual but hopefully it gets and keeps you thinking. What are your ideas?

Until next time…