For all your online business building info! , 2021-01-21 06:48:44
10 Ways to Make Money when Retired
1. Bed & Breakfast
More and more people have enough money and time to travel more than once a year. Most of them go for a long weekend and they look for a cheap place to sleep. This is why the old-fashioned B&B is making a comeback. If your home is big enough starting a B&B is a sound option for couples in retirement.
Upside:
- Modest start-up costs
- Repeat business factor
- Meeting many people
Downside:
- Labour intensive
2. Handyman
Have you always been handy at fixing things around the house? Maybe a part-time handyman business is something for you. Many people work all day long and don’t have the time or the skills to do work around the house. Think of simple things – no large construction work – like putting up shelves, small electric and plumbing work, etc.
Upside:
- Steady earning potential
- Work from home
- Minimal start-up costs
Downside:
- Access to a vehicle is essential
- Irregular hours
3. Tuition Service
Retired teachers, lecturers or people that have worked in a specialist field are much in demand as a part-time coaching services. If you have the right skills then there are many opportunities with both the general public and businesses. Also people that play a specific instrument can start a coaching service.
Upside:
- Excellent earning potential
- Work from home
- Modest start-up costs
Downside:
- Need to search for new customers all the time
4. Florist
Another profitable opportunity for retired couples is starting a florist business. Selling flowers, plants, etc -that you have grown yourself- at local retail outlets.
Upside:
- Steady earning potential (when having a contract)
- Work from home
- Minimal start-up costs
Downside:
- Can be labour intensive
- Reliable supplies sources essential
5. Retirement Coaching
Capitalise on the booming retirement market by coaching people over 50 who are either recently retired or planning their retirement.
Upside:
- Domestic and group coaching opportunities
- High profit margins
Downside:
- In some countries you need to be certified to do this (Check this before starting!)
- Need to take courses to keep up to date with regulation market trends, etc.
- Potential learning curve.
6. Desktop Publishing
If you have the right computer skills maybe a home based desktop publishing business is something for you. Like making flyers, newsletters, brochures, forms, etc for small local businesses.
Upside:
- Use Internet to sell your skill (all electronic deliverable goods, ebooks, flyer design, etc).
- Excellent profit potential
- Home based (only need computer)
Downside:
- Need specific skills
- Constant requirement for canvassing new business
7. Garden Maintenance
Many people work all day long and don’t have the time or the skills to maintain their gardens. (There are many people that don’t like gardening and they are willing to pay someone to do this for them).
Upside:
- Small start-up costs (some gardening tools are required.)
- Good cash generator
- Low risk
Downside:
- Access to a vehicle maybe essential
- Irregular hours
8. Start Your Own Online Business
If you can think of the right online business you eliminate the bulk of the hassles connected with setting up an offline business.
Upside:
- Can be fun!
- Minimal start up costs
- 24 hour trading
Downside:
- Steep learning curve
9. Write a Book on Your know-how
Are you an expert in a specific field? Why don’t you write a book or eBook on this specific expertise that you have. Write about work, hobbies, general interests and so on. The list is endless.
Upside:
- Minimal cost
Downside:
- Finding a publisher (Selling an eBook is easier.)
10. Make Money on eBay
More and more retirees are turning to eBay because it doesn’t take a genius to make money with online auctions. Besides selling on eBay you could also try to sell on local markets.
Upside:
- Small or zero start-up cost
- Low risk
Downside:
- Small learning curve







- Make Money Online and Earning a Large Income
- 7 Businesses Perfect for Working from Home
- Make Money Online and the Need of a Business Plan
- 10 Simple Saving Tips
- 6 Tips to Set Money Aside
- Information Products Ideas to Make Money Online
- Make Money Online with a Membership Sites
- Make Money Online 13 Adsense Alternatives
- 150 Essential Business or Freelancing Tools
- Use Coupons to Increase Your Online Business Sales