These are the top 10 business ideas for retirees. Are you looking for a way to earn an income in retirement?
Business Ideas For Retirees: Sometimes, retirement just isn’t what you thought it would be. Maybe you find yourself wishing you had something to do during the day, or that the days fly by too quickly, or that you just miss having something to work towards at the end of the day.
Business Ideas For Retirees
You don’t have to be alone in this feeling; many retirees turn to start their own businesses as an outlet for their extra energy and motivation.
Idea 1: Washing Cars
Cars are dirty. People need their cars cleaned. It’s as simple as that! Once you figure out a good way to advertise, you’ll have lots of customers and make some money off your new venture. Make sure you go into it with a business plan and sufficient financing. You don’t want to fall short on supplies when you’re starting out, or have financial trouble paying employees if things go well!
Just because something is easy doesn’t mean it won’t be hard work in other ways. A small car wash can bring in big money—but only if you put in enough time and effort! Don’t give up early just because you run into problems; think through solutions and push forward. Keep working at it until you’ve got a great business going. That’s how businesses grow from humble beginnings to great successes!
Idea 2: Working as a Virtual Assistant
If you have excellent people skills and can offer administrative support, there’s an online service that connects people with job opportunities as virtual assistants. The work is pretty flexible, though you will want to check in weekly and it can involve some phone conversations. While working on projects for clients, you’ll want to make sure your computer is free of any personal information; when entering client data, consider installing an Internet security program.
This kind of freelance business isn’t likely to get rich quickly or provide enough income where you can retire early—unless you take on multiple clients—but it could bring in a little extra cash while allowing you time off during slow times at work or once you retire. Virtual Assistant Marketplace provides one place to find many services. There are also other similar sites worth checking out such as TaskRabbit and Gigwalk. Or, if you’re not interested in using a third-party site, LinkedIn’s new Contacts feature might be what you’re looking for. It lets users contact people they know directly via email or text message.
Idea 3: Online Tutoring
Many retired people already have skills in niche areas that could be turned into teaching opportunities. If you have experience in something—be it art history, flower arranging, dog training, or something else—that expertise could help you get started with an online tutoring business. The great thing about online tutoring is that it can scale up or down as needed, as long as you’re providing an engaging experience for your students.
Depending on your specialty and how often you want to work, you could either offer detailed video lessons (for student-to-student interactions) or simple questions and answers (more for self-paced learning). So whether you specialize in Italian cooking or American modern art, there’s a space for you.
You might even consider working with local schools and colleges to see if they need part-time teachers. Or you could set up shop on a site like TutorVista or Chegg Tutors, which are designed specifically for online tutoring. And if you do it well enough, maybe they’ll let you write off some of those expenses come tax time!
Idea 4: House Cleaning Service
It doesn’t matter if you’re retired or not, house cleaning is one of those services that we all need but never seem to have time for. There are plenty of ways to make extra money by offering a cleaning service. Put up some flyers in your neighborhood, set up an online ad, or post on social media and see how fast you can bring in customers. If you offer multiple services there’s room for more revenue!
You could be earning $200-$500+/day with only 4-5 hours of work per day! This is a great side business idea since it can be started part-time and has high-profit margins once you build your customer base. Also, check out our tutorial on How To Make Money Cleaning Houses Online. Click here now to read it. The best type of advertising for someone looking to start a house cleaning service is word-of-mouth marketing. This means putting up flyers near local grocery stores and coffee shops.
So people will see them when they’re getting their morning coffee. People are also much more likely to call someone they know personally versus calling some random number from an online ad. The downside is you do have to get out into public which might scare off some introverts who don’t want to deal with strangers at first (believe me I know!). The upside though is that if you run into any issues along the way you can usually resolve them right away because your client knows who you are immediate.
Idea 5: Pet Sitting Service
Is your home away from home on 3 acres of wooded land? Do you have experience with pets and enjoy their company? Put your pet care knowledge to use by becoming a pet sitter. Many pet owners are worried about leaving their pets at home alone, so hiring a pet sitter is an excellent business opportunity for retirees. If you’ve ever considered starting your own business, one option might be to think about what you enjoy doing most in life and try turning it into something profitable.
Maybe that’s why we have so many great options online like over 50 ideas for starting your own online business from scratch or making money from such niches as music and sports. Are you ready to find out which niche is right for you? Then get started today! Whatever you choose, remember to set yourself up for success.
Choose a subject matter you’re interested in and knowledgeable about. Take some time before jumping in to learn everything you can about your industry or niche, including potential challenges and opportunities associated with it (like competition).
Think long-term when choosing products; products that may not sell well now could be very lucrative later if they become more popular down the road. Don’t forget social media marketing either! You can promote your site easily through Facebook ads, Twitter advertising, Pinterest pins, Google+ posts, etc.. – each will help get new customers for free!
Idea 6: Carpooling
If you have a car and live in an area where people regularly go back and forth to work, consider offering your services as part of their commute. With websites like BlaBlacar, there’s even an easy way for potential passengers to search for rideshare options. What should you charge?
Whatever you think is fair, it’s best not to make yourself too cheap or you may find that no one is interested in your service because they can get cheaper alternatives elsewhere. You might also want to check with local laws about how much insurance coverage you need for commercial use before you start driving other people around.
Idea 7: Starting an Etsy Store
If you love handmade or vintage items, Etsy is a perfect platform for selling these wares. If you’re artistic and have an eye for fashion, start an Etsy store that sells one-of-a-kind vintage pieces. Due to their high-quality standards, most of these items will be targeted toward higher-income earners.
But, if you can find your niche and develop quality products—and promote them effectively—you could make excellent money from your store. The best part is that you don’t even need to leave home to sell on Etsy—just set up your free account, upload some pictures of your creations and start taking orders. Creating products out of thin air? Talk about putting your imagination into action!
Idea 8: Selling on Amazon FBA
The short-term rental market is booming, and it’s one of those niche industries that affords plenty of room for growth. If you already own your home, start renting out space on sites like Airbnb—you could earn thousands of dollars a month in passive income with just one property. Then, as your rental business grows more profitable, use some of that cash flow to purchase additional properties. Downside: Potential noise issues; safety concerns; dealing with tenants.
Idea 9: Startup Support Group – Weekly Meetings (for Entrepreneurs)
Meet with local people who are also starting their own businesses. Share stories, advice, and support. Plan out goals and strategies you have in common, or help each other overcome challenges that come up.
Besides lending moral support, members can be valuable resources by helping you find freelance work when you need it and referring customers who are looking for your products/services. If you’re unsure about whether to start your own business or look for work elsewhere, a weekly meeting of entrepreneurial retirees might give you some much-needed direction.
Idea 10. Rent Out Your Home (Airbnb)
The sharing economy is alive and well. Thanks to apps like Airbnb, it’s easier than ever before to rent out your home on an as-needed basis. If you own real estates that you don’t live in full time, such as a vacation property or second home, renting it out can be an excellent source of extra income.
You simply need access to a spare room or empty space—and then potential renters come from all over looking for short-term lodging (think weddings and family reunions). Property managers handle many of the details and get paid when they fill vacant spaces; some earn upward of $100 per night!
Also Read: Business Ideas For Rural Areas 2022
If you’re interested in starting your own business, don’t let anything stand in your way. Draw up some ideas and do a little research—if it looks like something could work, then give it a go! No one knows what your perfect idea is but you—so trust yourself.
If you need help getting started or would just like some resources and information on business planning, check out The Small Business Administration’s (SBA) website at sba.gov/category/navigation-structure/starting-managing-business/. This site is filled with tools and resources that can help get any startup off to a great start. Best of luck, retirees!