For many people, retirement is a long-awaited freedom that can be devoted to hobbies, travel, or time simply spent enjoying some much-deserved relaxation. For others, it is a time to start a new business venture. Whether you are looking for something to occupy your time or you could use some additional income, there are many small business options for you to consider. If you are a retiree and have a special skill or talent, why not put it to use and earn some extra money doing something you love?
Arts and Crafts
An artistic hobby can easily be turned into a money-making opportunity. If you spend your spare time making arts and crafts, there are many avenues available to you to sell them. Knitting, crocheting, sewing, woodworking, painting, and jewelry-making are only some examples of hobbies that can be turned into capital. You can sell your creations at art fairs, craft booths, flea markets, or online in your very own store. The possibilities are endless!
A catering business can be as small or large as you want to make it. If you are known for your cooking or baking skills, your talents are in demand. You can offer catering services for celebrations including weddings, graduations, birthday parties, and family reunions–or offer private meal preparation to busy families that could use a little help in the kitchen. If you like to bake, you can set-up shop at fairs and farmers markets to bring in some extra cash.
Small businesses are always looking for individuals with special expertise to consult with, so if you have a background in accounting or marketing, you may want to consider starting your own consulting business. There is always a need for consulting services, and it’s a job that can be as flexible or demanding as you want it to be.
For those knowledgeable about home improvement and repair, handy jobs might be the way to go. If you’ve got a dependable vehicle, tools, and are in good health, you won’t be short of work. You can pick and choose the jobs you want to do, and the money can be quite good if you don’t mind the physical labor.
Invest in Real Estate
If you’ve got some extra money in the bank, why not invest it in real estate property? Many apartment buildings, duplexes, and homes are being sold at rock-bottom prices, and there doesn’t appear to be a shortage of renters. With a few rental units under your belt, you can make some extra money and keep busy managing the properties.
Private tutoring is a great business for retired teachers or those who are bilingual. A tutoring business is an excellent way to make money because there really aren’t any costs involved in running it. You can make your own schedule, and you can do it in the location of your choosing, and both children and adults alike can utilize this type of service.
If you love animals, pet care services are another way to make some extra money. You can pet-sit while people are working or on vacation, do a daily check on animals that don’t require constant care, or offer dog-walking services. This type of work does require some physical labor and is a great way to stay in shape while earning money at the same time.
Lawn and Garden Care
For those retirees that like being outdoors, lawn and garden care can provide many opportunities. Many people can’t afford to hire a professional landscaper, so if you’ve got a green thumb, you may be able to offer designing and planning services at prices that will make both you and your customer happy. You can also offer maintenance services that include mowing, trimming, and watering. Outdoor work like this is physically demanding, so you should only consider it if you are in good physical health and don’t mind being exposed to varying elements.
Photography is a pastime that can easily be turned into a business. Services are always needed at large celebrations (weddings, for example), or you can set up a business that focuses on photographing families and children, pets, or wildlife. You can set up your own indoor studio at home, or simply offer travelling services.
If you have a computer background and are a creative individual, you could set-up your own web designing business. The costs involved in running this type of business are quite minimal, and with the growing popularity of web-based businesses, there are many people looking for the services you could offer.
There are many small business opportunities out there for retirees to take advantage of. If you are of retirement age but still seek some type of fulfillment through work, turn a hobby or pastime that you love into a business! You will be rewarded with both a job that you enjoy doing and greater financial stability.
Guest post from Bailey Harris. Bailey writes about business insurance quotes for BusinessInsurance.org.