Startup eSeries: Top 10 Business Ideas for Retirement - Common Sense Living Newsletter
 
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Startup eSeries: Top 10 Business Ideas for Retirement

Entrepreneurship
Life
Retirement
Sep 11, 2015

Startup eSeries: Top 10 Business Ideas for Retirement 

You are done with a career in the traditional sense. You no longer have the inclination to build another business. But you do wish to dabble in something close to your heart, something that you couldn't afford to do before because you had to pay home loans, children's college admissions, save for their marriages and then some for retirement.

Retirement is the perfect time to explore those ideas that are still brewing in your mind and heart!

Because now you no longer need the comfort of a fixed income. But now you can enjoy the comfort of pursuing a business of your choice.

Starting a business in retirement is not about the big cheques, success, or fame... It is simply an expression of you - a singular reason you shouldn't hold back your entrepreneurial dreams at this stage of your life.

Unleash your creative self. Work for the fun of working and discover a new you.

Here is a list of 10 ideas that we developed after researching the various pursuits of happy retirees. Most of these opportunities already find resonance and demand in the market.

  1. Write
  2. Do you have a story to tell or, better still, lots of acquired knowledge in your area of expertise? Well, then it's time you start writing.

    You can try your hand at freelancing for local newspapers and magazines on topics of your interest. Write to editors in newspapers or magazines, share samples of your previous work, and ask them how you can contribute. Online websites also need a continuous stream of information to keep their readers engaged. This function is often outsourced. So fill up the web with the wealth of your experience from the comfort of home. And when you feel confident enough, you may even want to try your hand at penning a book.

  3. Teach
  4. The benefits of teaching are many: You stay in touch with the subject of your interest, you are connected to the youth, and you push yourself to be an engaging and innovative tutor. Teaching keeps your mind ticking, and as science has proved, an active mind will age more slowly.

    You can look up neighbouring colleges and schools and see what areas you can fill. You can be a guest lecturer or teach on a regular basis. Giving tuitions from home, from a rented space, or through online coaching sites are other options.

  5. Consult
  6. Consulting can prove to be one of the most lucrative career options post retirement. Many organisations like to match the energy of the youth with the experience of their elders. And that's where retired consultants come into play.

    As a consultant, you will be away from the day-to-day management of the company, giving you more free hours for other activities, such as your evening walks.

    Websites like ExpertEase provide a platform for senior professionals to connect with the industry and respond to their needs. Here, organisations seek out individuals for work, mentorship, or volunteer opportunities.

  7. Turn your hobby into a business
  8. Was there something you would have rather done than sit at your desk during your working years or focus on sales while running your business? Maybe photography, sewing, gardening, pottery, or art? Then now is the best time to start. Choose a hobby that you've always loved, refresh your skills, add a little marketing acumen, and get ready to build your own enterprise.

    Exploring hobbies that you can convert into business is essentially about making a passion profitable. Just keep utility as the central focus, and any product you create should do well.

  9. Enter the travel industry
  10. With the constant influx of travellers to India, the travel industry is definitely growing and open to new services. One of the most popular demands is for homestays and service apartments. If you have a spare room or apartment, consider refurbishing it and letting it out to travellers for some extra income. With websites like Airbnb, this business has become easier to implement and market in India.

    If you like to travel yourself, you could also design customized tours to places that you know well and take along a group of people with you.

  11. Become a culinary expert
  12. If you've always loved your pots and pans, there's no better time than retirement to start a business around your passion for cooking. From baking to catering for parties or starting a tiffin service, to running your own small cafe or conducting cooking classes and writing recipe books, the possibilities in the business of food are many.

    So put on your baking gloves, buy that extra kitchen equipment, source the freshest ingredients, and whip up lip-smacking delights that you'll always be remembered for.

  13. Join the wellness industry
  14. The markets for beauty, fitness, and wellness are only growing. With the increasing stress in people's daily lives, everyone can do with a few hours of yoga, meditation, and even homemade remedies that nourish the body and soul. If you're a fitness expert or have beauty and health secrets that you can share with the world, see how you can convert them into a money-making venture.

    You can also be a fitness trainer or a yoga instructor. This allows you flexi hours, not much investment, and keeps you fit too.

  15. Market products
  16. If you have the gift of the gab or have always been able to promote yourself and your work well, marketing products from home maybe a good option. Affiliate marketing is essentially that. It means selling other's products through your own network, online or offline. People who market often work on a commission basis and even take a retainership at times. This covers their basic phone bills, internet, and travel expenses.

    You can consider marketing online through websites by putting up your ads and giving the host website a certain percentage. Or, jump on to the social media bandwagon and create awareness for your products through the various networking platforms available.

  17. Produce something fresh
  18. The benefits of eating organically grown food free of pesticides and chemical fertilisers are many. People are already paying big bucks for it too. If, during retirement, you move away from a busy city life to a place that gives you an opportunity to grow your own vegetables, fruits, and spices, this may just be a good extra income opportunity for you.

    Starting a poultry business, dabbling in chilli pepper farming, tea gardening, coffee bean farming, and a vegetable garden farm are some options of growing produce in semi-urban and rural areas. You can start out small, try out one or two varieties of the produce, and then go on to grow more. These can then be marketed to local groceries, shops, and neighbours.

  19. Be a counsellor
  20. Parental pressure, peer pressure, societal expectations, and consumerism are causing several behavioural disorders in children, teens, and adults alike. Herein comes the need for someone patient to hear them out and give unbiased guidance.

    Life coaches of all ages have gained immense popularity in the last decade conducting sessions from home or on Skype. They often take online courses with established institutes or individuals before entering this line. So if you're full of positivity and optimism and if you feel you can help others live better and become stress-free, try your hand at counselling.

Of course, there are many more ideas to choose from. The key in retirement, though, is to optimize what you already have, keep investments low, and ensure you don't get too stressed.

Image Source: PathDoc/Shutterstock

 
 

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27 Responses to "Startup eSeries: Top 10 Business Ideas for Retirement"

Akriti Martin

18 Jan, 2018

Thanks for sharing second career business ideas. This ideas are very helpful to us. If anyone looking more business ideas after retirement visit "RetyrSmart" website.

Shashikant Bhole

29 Jan, 2017

Please suggest suitable start up for retired professor in chemical engineering.

Rugus G. Lopez

14 Feb, 2016

6209I have only idea, no finance, any wish to support to sprout my idea then welcome. A pollutant free technology. For three-wheeler, four wheeler and wheelchair driving easier and faster, this technology only one in this kind, expect global market. The Patent Prior Art Search No. 6209/CHE/2015/bs/Patent 108. It is cost effective, remarkable and efficient technology which favors all mechanical driven subject as per patent prior art search report. If this technology could induct in rail engine big and small ships and all heavy machines run with fuel will be less than 1/10 of present fuel consumption. At out set I want small startup with three-wheelers, four wheeler and wheelchair. The benefit of wheelchair the existing manual type rotate wheel by hand and roll it inch by inch. My technology with in fingers with connected finger bar 5 inches press upward slowly it start roll more than 200 feet by 5 inches upward move of finger bar. Any investors interested then can make a prototype with investor financial support and who will be part of ownership of this global technology. Thanks, Rugus Grace Lopez, 929538598487, Bangalore- 560043

Purushottam

28 Oct, 2015

Excellent thoughts....thanks for sharing.

Narendra Singh Chauhan

27 Oct, 2015

It is good ideas after retirement.

Soumen

23 Oct, 2015

Perfect.

Like (1)

Mrs. Usha

10 Oct, 2015

Excellent

P. D

07 Oct, 2015

Excellent article. Keep it up!

ramesh pareek

05 Oct, 2015

The ideas are excellent to make a person to live active life and some money in hands. We have to try the ideas.With Engineering background, I feel consultant's job would be excellent. thanks for your ideas

vkv

05 Oct, 2015

Excellent idea

P.Prasad

05 Oct, 2015

The concept of retirement from one activity is to move to another activity, namely, from material plane to spiritual plane. What has been suggested is slowing down not to retire.

Narayan

19 Sep, 2015

As I planning my retirement at 46, this is an interesting article at right time for me

Narayan

19 Sep, 2015

As I am trying to retire from my profession at 46,this article inspired me to do so and plenty of ideas are flowing around me. Please keep writing.

Murali Krishna

18 Sep, 2015

It is an Interesting Article, all the 10 suggestions are excellent without investing much. Usually the phase after the retirement is depressing, it a good way to continue your income and to uphold your self-respect.

Like (1)

Vijay Vora

17 Sep, 2015

Article by Ritika Madam just classic and well thought while approaching Retirement . It's a perfect solution to your second active innings in Life . All TEN points covered in this article are very appropriate and selective .Also please incorporate Financial Tips for retiring group . I look forward for such excellent articles ...Congrats ..

Harbhajan Singh Sapra

17 Sep, 2015

I am 76 years old and my wife is 68 years old . In 2009 both of us took leave from our well settled children in New Delhi and chose to make our retirement abode in Sri Anandpur Sahib. I am engaged in writing books, Coaching school students in Archery and dispensing Homeopathy Medicines to school children free of cost. I and my wife act as counsellors and have helped many people in their day to day problems. I have also developed a hobby and I am trying to become amature photographer having already advanced from entry level DSLR to semiprofessional DSLR. Both of us visit our children 3 to 4 times every year and similar children also come to stay with us for a couple of days or more as per their business schedules.

Like (2)

Dr Sharma

17 Sep, 2015

Yes, Good, Idea is good, bu: Only Hollow Headings dont work / suffice because: PAR UPDESH JAGAT BAHUTERE JE ACHARHIN TE JAN NA GHANERE thus presentation is updesh only with ZERO acharan/action

S.K.Mandal.

17 Sep, 2015

Anisaji, I wish to convey the Great awakening thoughts you have provided to sleeping most of Indian retired people to take a wake up call & start planning for a happy rest of life & start contributing towards upliftment of society some way or other. Really wonderfully crafted & motivational. Retired team should be obliged to receive such articles without any cost.

Like (1)

Anmol Kumar

17 Sep, 2015

Beautiful article, consize and to the point. Since, I am going to retire after six months, will use these ideas to keep myself busy and contributing to the society.

Pankaj Ajmera

15 Sep, 2015

Perfect recipe for retirement. Mind boggling.

Like (1)

ajay kumar shrivastava

14 Sep, 2015

ANISA JI, i love your articles. i m 55 PLUS yrs and near to retirement. i m thankful to u at least some one guiding a big group of people those who are near to their retirement. your write giving me moral support.my father a honest person and i followed him. i m not rich. BUT now i will start DIRECT MARKETING nad estabish my self in next two year and estabilish this business as my pension plan. god bless you. keep writting/guiding.

Like (2)

jayant bhagwan sapre

14 Sep, 2015

very nice

Shekhar Roy

13 Sep, 2015

Best options for a glorious 'Second Innings' of life - "Retirement"

Like (1)

R.K.Sharma

13 Sep, 2015

Great ideas indeed for a retired person to keep oneself busy and contribute to the society as well.

Like (1)

ap malik

13 Sep, 2015

excellent ideas sharing. Nice. How to set up trust/company? Best ways to do business in india in minimum investment and maximum income/net profit?

Like (1)

MK

13 Sep, 2015

Good one &

SACHIN

13 Sep, 2015

Ritika again very good thoughts & always gives new insight. thanks sachin

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