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Feb 182014
 

10 business ideas for retirees

by Joe Leonard

MSN MoneyThe web site MSN Money offers some good tips on choosing a retirement business.

  • Choose an idea you’ll follow through on.
  • Identify your goals.
  • Think about your past experience and skills.
  • Do you want to leverage past experience or break new ground?
  • Determine your risk
  • Pick a Retirement Business that fits your life style

1) Life or business coach

Take a course from an institute such as Business Coaching Certified and then join the International Coach Federation.

Also check out the Worldwide Association of Business Coaches for more information as this site is most suited to an older person who rose to the top of a company or organization. Also see my web page on a Consulting Retirement Business.

2) Retirement financial planner

I have a web page on a Tax Filing and Preparation Retirement Business. This article goes one step further into financial planning. According to the article, some 40% of working Americans said they will never afford retirement. A retirement financial planner can better those odds by offering investment and savings strategies, guidance on when to begin receiving Social Security benefits and other services. Other important issues can also be addressed, such as Medicare coverage, housing options and long-term care insurance. They suggest contacting the College for Financial Planning  to become a Chartered Retirement Planning Counselor or Chartered Retirement Plans Specialist. Start with this Social Security Retirement Guide.

3) Event planner

If you planned your own children’s wedding (or you own), you can show others how to plan other events such from conferences to lavish dinners. You also need to be very aware of your limitations. There’s a lot of pressure that goes with making sure everything is right.

4) Home stager

This article is a bit more than just offering a Cleaning Service Retirement Business by suggesting that you suggest also prep and beautify homes before they go on the market for sale.  You can also suggest ways to rearrange furniture and offer decorating ideas and other strategies to better a home’s presentation both inside and out. The article fails to mention where to find customers, but I would think letting real estate brokers know of your services would be a good place to start. If you not sure about home decorating check out this Home Decorating Made Easy Course.

5) Bed and breakfast operator

This type of business takes a major investment in money, time, and effort. You will probably also need employees. This is a full time commitment which is not the focus of this web site.

6) Cleaning service provider

As the article mentions start up costs are very low. They suggest starting with homeowners and offering cleaning products in addition to cleaning services. And important point is the if your start a Cleaning Service Retirement Business consider you physical condition if you don’t want to climb ladders  and make it clear you’re not going to climb a ladder to scrub outside windows and gutters.

7) Home inspector

Most home buyers today are hiring a home inspector before buying. If you have previous experience in the construction or real estate industry a Home Inspector Retirement Business could be ideal.  You can do everything from complete home examinations to testing for radon and other contaminants. Also check out the Home Renovation Part 1.

8) Etsy-based business operator

Etsy is an e-commerce similar to the eBay Retirement Business but it focuses on handmade or vintage items, supplies, as well as unique factory-manufactured items. This is just one additional market for your Antiques Retirement Business. You can sell your old art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks, and toys providing you have made them or they are 20 years old or more. Visit the Etsy website for more information.

9) Daycare provider

A Daycare Retirement Business used to be a great idea. However, many localities now requirement certification, training, and even modifications to your home if that is where you want to operate. Moreover, running a daycare requires you to be in a fixed location for a fixed number of hours and you will probably need an employee or partner as you don’t want the liability of leaving young children alone while you go to the bathroom or in another room. They require constant attention. My advice is that a Daycare Retirement Business is not a good choice.

10) Tutor

I have a web page on starting a Tutoring Retirement Business. They suggest looking into the Tutor Village which is a network of tutors. Don’t limit yourself to just academic subject either. Also check out Tutoring in Top 10 Home Retirement Business Opportunities Part 2.

Coming soon…Part 4 of Top 10 Home Retirement Business Opportunities

From the article – 10 business ideas for retirees according to MSN Money.


This is PART 3 of Top 10 Home Retirement Business Opportunities. (Click here for Part 1 or Part 2)

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