If you’re recently retired, you might be looking for a new adventure. How about earning some money with these business ideas for retirees?
The average retirement age is 63.6 years for women and 64.4 years for men, according to the Organisation for Economic Co-operation and Development (OECD). Retirement often marks the beginning of a new chapter that’s filled with opportunities. Now you have the time to develop new skills and try out new adventures.
With your years of experience, wealth of knowledge and that mature perspective, you’re uniquely positioned to start a successful business that can provide personal fulfilment and be meaningful to the community around you.
Let’s explore some business ideas for retirees.
Why should I start a business after retirement?
Starting a business after retirement might seem like a strange idea to some people, but there are lots of reasons why it can be rewarding for you. Here are some reasons why you should consider launching a business in your retirement years:
1. Financial benefits
Starting a business can give you additional income, which can be nice if your retirement savings are not as extensive as you’d like. Owning a business may also earn you enough to look at investment opportunities, helping to secure your financial future.
2. Personal fulfillment
Running a business can give you a sense of accomplishment and purpose, which can help you stay active and engaged. It’s also an opportunity to turn lifelong hobbies or interests into a profitable business, letting you spend your time doing something you truly enjoy.
3. Flexibility and control
Starting your own business allows you to set your own hours and work at a pace that suits your lifestyle. You can decide when and how much you want to work. Depending on what you do, you might be able to work from the comfort of your home, a cozy café or even while traveling.
4. Social connections
Retirement can be quiet for some people. Running a business can help you meet new people and build a network of clients, partners, and fellow entrepreneurs. This can be a great way to stay socially connected and engaged with your local community.
Best business ideas for retirees
Whether you’re looking to turn a lifelong hobby into a business or take the leap into unfamiliar territory these business ideas for retirees can spark your imagination so that you can thrive in your golden years.
1. Antiques and collectibles dealing
Selling antiques and collectibles can be an incredibly rewarding business if you have a passion for history, art, and unique items. You get the excitement of hunting and discovering rare treasures, and you get to share your expertise with others. You can make money selling these antiques through a store or via an online platform.
2. Bingo business
Looking to combine fun, community engagement, and the potential for profit? Bingo is a timeless game that attracts people of all ages, but it’s especially popular among the senior community. You can set up a bingo business and create a space for people to interact with others and get entertained.
3. Authoring and self-publishing
Authoring and self-publishing offers you a unique opportunity to share your knowledge, your story, and your creativity with the world. Whether you have an passion for storytelling, a deep well of professional expertise, or a hobby you’d like to see more people take up, putting your knowledge on paper can be rewarding.
4. Gardening and landscaping services
Do you have a green thumb and a passion for the outdoors? You can turn this into a profitable business. There’s increasing interest in sustainable living and beautiful outdoor spaces, which means a growing demand for people who can create beautiful yards and gardens. This business idea is a great opportunity to stay active, connect with nature, and engage with the community.
You can also sell plant offshots, help people with their vegetable patches, or sell produce grown from your own garden.
5. Floral arrangements
If you like flowers, but want a smaller project, how about selling floral arrangements. You can create bouquets and floral displays for special occasions like weddings, corporate events, birthday parties and other celebrations. You can sell the floral arrangements in a physical store or through a website.
6. Senior yoga class
Starting a senior yoga business is an excellent idea if you’re passionate about health, fitness, and physical well-being. You can help fellow seniors improve their physical health and mental wellbeing as a yoga instructor. To get clients, you can promote your business on social media or create a website where people can book a class. Hang up signs in your local area and promote your business with discounts for new clients.
7. Genealogy organization services
Another business idea is genealogy research services, where you help people trace their family roots and build detailed family trees. You can dive into historical records and provide valuable insights into family histories. If you’re passionate about history and research, this idea might just be perfect for you!
8. Senior transportation services
You can provide safe and reliable transportation options tailored towards seniors. Help them get from A to B in a safe way, discover new places and get access to essential services. Many seniors experience challenges getting around town, and you can provide the service they need. You should look at cars that are easy to get into and make sure to provide a little extra service for your fellow senior customers by offering bookings through phone.
9. Custom sewing and alterations
Custom sewing and alterations provide a wonderful business opportunity for you if you have sewing skills and enjoy working with fabrics. You can alter everyday clothing to creating custom garments, sew home décor items like curtains and cushions, or even offer specialized items for events. You can even offer classes if there’s interest for sewing in your local community. This business idea gives you a creative outlet, a way to use your skills, as well as the potential to earn an income.
10. Crossword puzzle business
Crossword puzzles have been a favorite pastime for many people for a long time, especially seniors who enjoy the mental challenge and the slow-living aspect of this hobby. Your business can create and sell custom puzzles, offer subscription services, or you can even develop an app. There are plenty of retirees with a love for words, puzzles, and creativity that would love to sign up!
Start your business off on the right foot with free invoicing
Whether you want to start a gardening business or work with sewing, you need to invoice your clients to get paid for your work. You can make invoices for free with Conta. This invoice program is senior-friendly, and you can create an invoice in a few easy steps. You also don’t need to download any software, everything can be done on your phone, mobile or tablet.
Make invoices for free
