Most people think that when someone retires, they are done working for the rest of their lives. While this is true for some retirees, it is not necessarily the case for all of them. So, whether you want to keep working to keep yourself busy or to make a little extra spending money, you may want to consider the idea of starting a small business for yourself.
As a retiree, there may not be many job choices available if you want to continue working. Your options may be to continue working part-time at your previous position, start a small business out of your home, or work entirely online. Are you retiring soon and don’t know what your next step is? Here are some small business ideas you may want to consider.
1. Working part-time at your previous position
The idea of continuing to work at your job, but in a part-time position, is not for everyone. However, it is the best option for some people. There are both pros and cons to doing this.
Switching to a part-time position may be a good idea if you don’t want to completely give up your career. You can continue to work with your colleagues and keep a sense of normalcy by doing the job you have always done.
However, if you never liked your previous job or are burnt out, it might be a better idea to move on to something else.
2. Start a small business from your home
There are plenty of resources to learn how to start a business from your home. If you enjoy spending most of your time there, it may make sense. You could create and sell goods either online or in person.
Do you have a passion for making quilts, building furniture, or are artistic? Set up an Etsy shop to sell what you create. As an Etsy seller you can create your own online store with the click of a button without having to build your own website. That way, you can reach costumers nationwide.
Older retirees who are disabled and live in a retirement living space with an art studio can create and sell the work they create at their facility.
If you’re not comfortable using technology, you can sell your goods at local farmer’s markets, fairs, or similar venues. It’s a fun way to promote your small business and meet others who are interested in what you are selling.
3. Start a business online
As long as you have a computer or even just a smartphone you can run a small business from anywhere in the world. The options are endless, from starting a YouTube channel to writing a blog or completing online surveys.
It may take you a while to start making money but if you are looking for more freedom, it’s very do-able.
Online you have the opportunity to deliver whatever content you create to anyone in the world who may be interested. That way you can promote products, either physical or virtual that you can get paid for. If you have a blog, YouTube channel, or use another platform, you can always sign up for affiliate programs and promote brands you love at no cost to you. Once you make a sale, you will earn commissions or ad revenue, which can supplement your Social Security or pension income.
This option requires patience and may not pay out right away, but if you work hard, you can make money as you sleep or travel on vacation.
Just because you are retired from your former career doesn’t mean you can’t run a small and easy to maintain business. There are many options you can choose from if you put your mind to it.
So don’t hesitate. Be open to try something new, or start with an idea you are passionate about. Who knows? You may turn it into something extraordinary.
Have you started a small business or a new career in retirement? Please leave a comment below.