15 Business Ideas for Seniors

With the cost of living continuing to rise, many seniors are finding it difficult to make ends meet.



The solution? Start your own online business!

Due to increased flexibility and lower startup costs, starting an online business is perfect for seniors who want to work from home.

You don’t need to worry about employees either.

Seniors have the opportunity to start solo operations or partner with other entrepreneurs to save money on overhead costs. You can even do freelance work if you’re willing to put in the time.

In this article, you’ll learn why starting a business makes sense for retirees and discover several of the best business opportunities for seniors.

Best Business Opportunities for Seniors

Best Business Opportunities for SeniorsAccording to the AARP (American Association of Retired Persons), seniors are more likely than ever before to start their own businesses. They do this to supplement income from other sources such as investments or pensions. With half of them not earning enough money each year, they need both short-term and long-term ways to make money. We are going to go over the best business opportunities for seniors that are long-term ways to make money well into your retirement.

Additionally, the number of retirees who work part-time has doubled in the last 25 years. It’s expected that the senior part-time workforce will grow exponentially as more baby boomers head into retirement.

The idea of seniors starting businesses may seem daunting at first glance, considering that they might not have much experience with running a business. However, many of them possess skills.

  • Strong attention to detail
  • The ability to work independently
  • Good listening skills

Skills such as these are perfectly suited for self-employment. Older people also have a deep well of knowledge from years spent working in their chosen field. Many of them also have contacts made over time, which they can use when building a client base or beginning partnerships with other businesses.

Must Remain Willing And Able To Learn New Things

Seniors, like any other entrepreneurs, must remain willing and able to learn new things. You need to stay flexible to adjust quickly when changes occur in your business.

For example, you may have spent years working in an industry that’s now dying out due to advancements made in technology. For this reason, it’s important to continue learning new things and even take online courses as a part of your business plan.

Seniors And Flexibility

One of the main benefits seniors can get from starting a business is flexibility.

Many businesses are viable opportunities for retirees who want to generate income without having to take on full-time jobs or hire employees. There’s no need for you to work fixed hours or on certain days of the week. The one thing that always remains constant, though, just like in a regular job, is that you have to meet deadlines.

Start Something You’re Passionate About

It’s important for seniors who want to start their own business to find something they’re passionate about. It will make the hard work much easier when times get tough.

For example, if you like working with numbers and have good analytical skills, maybe starting a bookkeeping business is right for you. If it’s your dream to start an online magazine or blog that covers topics about sports, then go ahead and do just that. If you’ve heard about franchises and want to finally dive into that type of business, then go do it.

Why Start a Business as a Senior?

Start a Business as a SeniorLet’s look at four main reasons to consider when starting a business. These factors relate directly to the current state of the economy, as well as the type of lifestyle most retirees desire.

Rising Cost of Living

One of the primary reasons to start a business is that it can help you offset rising costs.

Retirees face rising health care costs on an ongoing basis. Even with Medicare being available, many people still pay a relatively expensive premium on top of that for supplemental insurance. In addition, basic housing, food, and gas prices continue to rise with each passing year.

Work Around Your Schedule

By starting a small business, retirees have the opportunity to remain flexible with working hours.

The type of business you choose will play into how much flexibility exists. Some businesses, such as a consulting firm or real estate agency, will require more hours. In contrast, you can run an online business from anywhere in the world and at any time that’s convenient for you.

Working From Home

A third reason why it may make sense to start a business after retirement is because of the ability to work from home. Working at home allows you to work around the ebb and flow of energy you feel daily.

Work Without Employees

The final reason why starting a business may make sense is because you don’t necessarily need employees. Businesses like running a blog or doing affiliate marketing require zero employees run.

What Are The Best Business Opportunities For Seniors?

You have a wealth of choices when it comes to running a business during retirement. No matter your business needs and expectations, you should find the best fit for your lifestyle.

A Deep Dive into 15 Business Opportunities for Seniors

We’ve researched 15 specific business opportunities that are perfect fits for your need to earn extra money without getting a traditional job.

Consulting: Leverage Your Wisdom

You can run a consulting business as a part-time job. Use the expertise you’ve gained over a lifetime and easily fit the work into your schedule. Consultants can earn an unlimited amount of income.

Career Coaching

Another popular business opportunity is to become a career coach and help others find the perfect job for themselves. You can do career coaching online or in person. Finding paying clients may require you to go outside of your comfort zone at times. The most common marketing method that professional coaches use is networking with people they know.

Working the Legitimate Paid Survey Sites

Turning to survey sites as a part-time income opportunity is another popular choice. You can typically find legitimate paid survey opportunities with minimal work on your end. They often pay very well for your time.

Professional Speaking

Speaking professionally at events is yet another option that allows you to work flexible hours. The best part about professional speaking is that you don’t need any business experience to get started.

Seniors Blogging or Freelance WritingBlogging or Freelance Writing

If your passion lies with writing, then blogging may be the perfect opportunity for you to turn into a side income stream. You can choose whether it makes sense financially to blog full-time or part-time. If you simply like to write and don’t want to deal with setting up a website, you can get freelance gigs to write for others.

Affiliate Marketing

As an affiliate marketer, you can find products in your niche and sign up with a company’s affiliate program. Then, you will promote their product and make a commission when someone buys it through your link on your website or blog.

Amazon FBA

If you want to start a dropshipping business, then Amazon is one of the best options out there. You can choose from many products available to sell. The Amazon FBA program lets you store products at Amazon’s fulfillment centers. The service ships the products to your customers for you.

E-commerce or Shopify Store

Creating an online store is another option that allows you to earn extra money without leaving your home. You can sell any product from your E-commerce store. When someone purchases something from your website, you send the order out to customers while earning revenue.

Call Centre Jobs

Working part-time in a call center is another option that allows you to work flexible hours and communicate with people from all over the world. You can choose whether it makes sense financially for you to start this business full-time or part-time as you transition into retirement.

Errand Service

If your goal is working a part-time job, an errand service may be the perfect fit during this stage of life. You can work flexible hours and pick up odd jobs that help people in your local community with their daily tasks.

Real Estate: Become a Landlord

As a landlord, you’ll earn rent money from your tenants. Real estate does come with responsibilities that go beyond collecting the check every month. You have to maintain the property and find new tenants when your current one moves out early. Of course, you can also hire a management company to handle all that for you.

Become a Trainer or Tutor

Teaching is another perfect opportunity that allows seniors to work flexible schedules during retirement. You can often choose your hours, working conditions and provide your services online or in person.

Bookkeeping

Bookkeeping is a great business opportunity for seniors. You can work flexible hours and help small businesses with their bookkeeping tasks while making money on the side.

Virtual Assistant

As a virtual assistant, you can make money doing administrative tasks. You might end up doing things like scheduling, email management, and other basic office-related jobs that require little to no experience or background in the field.

Travel Consultant

If you enjoy traveling, why not work as a travel consultant during retirement? You can set your own hours and provide services online or in person.

Frequently Asked Questions

The above retirement business ideas should get you started on your path toward a new business venture. However, you might still have questions or concerns about getting started on a new path at this stage of life.

How Can a Retiree Make Money at Home?

Senior citizens can make money at home by starting a business. There are several types of opportunities available for seniors to work from home without employees and earn extra income.

Does Age Matter When Starting a Business?

No, it does not matter what age you are when starting a business. All that matters is that you have the desire to use your skills and put in the required time and effort.

Is it Ever Too Late to Start a Business?

No, starting a business is never too late to start. Elderly people can find just as much success in business as a younger person can.

How Do I Start a Business at 60?

You can start a business at 60 by choosing from several types of opportunities. It's simply a matter of getting started by deciding on the type of business you want to run. Do online research that tells you how to start that particular business and then get it into motion.

Can You Work After Retirement?

Yes, baby boomers can work from home without employees and make money on the side.

What Are the Most Successful Small Businesses?

The most successful small businesses are the ones run well by their owners. You can choose any type of business. The key is taking it seriously, learning as you go, paying attention to what works and what doesn't, being willing to pivot, and never giving up until your goals happen.

Is 60 Too Old to Start a Business?

No, 60 is not too old to start a business. Again, older people of any age can find success in new business adventures.

What Business Can You Start at 60?

You can start any of the businesses listed above at age 60, such as bookkeeping, virtual assistant, travel consultant, blogging, freelance writing, career coaching, or consulting.

What Can I Do After Retirement to Make Money?

After retirement, you can do several things to make money. You can start a business online or in-person while working flexible hours and earning extra income on the side.

Can You Be an Entrepreneur at Any Age?

Yes, you can do this. You can find greater success running a new business venture at this stage of your life because you have many years of experience to draw from.

Who is the Oldest Person to Start a Business?

People of all ages beyond 60 have successfully started their own businesses. Ben Van Praagh, for example, started a new business called Benyfit Natural at the age of 75

Best Business Opportunities for Seniors Final Thoughts

Are you excited about all the possible business ventures you can decide from when your goal is earning more money after retirement? There really are endless possibilities when looking at the best business opportunities for seniors. Decide which business opportunity fits your situation best. Then, get started on your next life adventure!

Author

  • 8eeb4f65f2a1b2b993afe8c0d0585123?s=80&d=mm&r=g

    Chris is a busy mom of two, who loves to tinker with computers and read in her free time. Her knowledge of what it takes to start up a business especially businesses that operate on the internet has helped many people from around the world. Chris often shares her experience as an online entrepreneur and business coach, speaking at events all over about how she created multiple successful businesses and profitable websites. She also offers advice on how people can build their own business website or blog for very little money, while still maintaining quality content.

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