The web site About.Com has an article on the top 10 Retirement Businesses that you might consider starting – Home Renovation Services, Life/Business Coaching Services, Pet-Based Products, Catering Services, Cleaning Services, Fall Prevention Products, Wedding Consultant/Planner Services, Ecommerce, In-Home Beauty Services, and Sewing / Alteration Services
Let’s at them from the perspective of how they might be good retirement business.
1) Home Renovation Services
This is a Handyman Retirement Business on a larger scale requiring more skills, more profit per project and more risks, too. It can certainly be run from your home as a retirement business – especially if you use subcontractors for the heavy work or for skills that you do not possess.
The advantage is that the profits can be greater than just being a handyman. It does require you, however, to show up to supervise the progress and the risks are greater if the renovation goes wrong. D
Do any of my readers have experience in starting a Home Renovation Retirement Business? Would anyone like me to post more information on this topic?
2) Pet-Based Products
I looked into building dog houses as a retirement business http://aeiou.org/doghouse-retirement-business. However this could be expanded to include food, mats, and toys. What do you think?
3) Catering Services
I thought about food services as a retirement business bu ruled it our because of health permit concerns. For example, if you prepare food yourself, you might have to be licensed or take government approved classes. You might even have to spend a lot of money to improve your kitchen.
However, you might be able to start a catering business without all these concerns if all the cooking and serving were done by other licensed caterers. You, of course, would do the marketing for business meetings, graduations, parties, and weddings and such.
Your advantage is that you can offer your clients a variety of options of different foods for different budgets as well as additional services such as flowers, valet parking, and waiters.
4) Cleaning Services
The article has little to add to what I’ve said about starting a Cleaning Retirement Business.
5) Fall Prevention Products
People do fall more often as they grow older as this article points out. They suggest offering products to prevent falls. The only things that I can think of are selling walkers or installing things like handrails or electric elevator chairs. Is there a big market for this? Wouldn’t a store front be the best way to sell these products? How would one reach this market? I don’t think that this meets my criteria above. What do you think?
6) Wedding Consultant/Planner Services
This is a very good idea that I have not considered. I have friends who started a Wedding Consultant Retirement Business and are doing very well. They help in selecting the rings, invitations, wedding dresses, church, reception, photography, and even the honeymoon. Charge for your consulting as well as a commission on each service that you arrange. I’d like to start a web page on this. What do you think?
Making money on line is a hot topic now. (In fact, this web site is my own on line retirement business as you can tell.)
However, be careful. There are a lot of people selling information on how to get-rich-quick on the Internet.
If there is an interest, I can start a web page which takes you through the steps of how to supplement your retirement income with eCommerce. Just let me know. In the meantime, look at my web page of eBay Retirement Business and Craigslist Retirement Business.
8) In-Home Beauty Services
This is NOT a good retirement business. About.com is not giving good advice here. I do not want to encourage you to start a business that violates the law. In most cities, you must be licensed, and it is forbidden to operate a beauty salon from your home. Even manicures, pedicures, massages and acupuncture have their liabilities and licensing requirements. I know that many people do this by ignoring the law and have never got into trouble – but I can’t recommend it.
However, it is possible to make your own cosmetics (not miracle health claims please) or resell products from others. See my web page on Cosmetics Retirement Business.
9) Sewing and Alteration Services
I have a web page on making aprons which, perhaps, I should expand to include more sewing ideas as mentioned in the article. Again, don’t have clients come to you home unless you live in the properly zoned area.
Since I am not getting many visitors to my Apron Maker Retirement Business I hesitate to spend more time on expanding to include other similar items.
10) Life/Business Coaching Services
This is another hot business. But my view is that the competition is fierce and you really need specialized training. It could be difficult to find clients and you might find that they really don’t want to pay much per hour. For now, I’m passing on including it on this web site. Any contrary opinion?
If you would like more information on any of these and I will devote a separate web page to them!