You’ve done it—you’ve enjoyed a long career and made it to retirement! While many folks dream of sleeping in every day and catching up on their favorite TV shows, it’s also wise to do something fulfilling with your newfound free time. Why not start one of these unique businesses in your retirement?
Bed and Breakfast
Real estate is a famously lucrative investment. If you’ve met any millionaires your age, there’s a high probability they own a few investment properties. Why not turn a piece of real estate into a bustling business?
Use your retirement funds to buy a small home in a touristy area and transform it into a charming bed and breakfast establishment. Learn to cook a variety of delicious breakfast foods and get to know your guests as they enjoy visiting your town.
If your career was in accounting or bookkeeping, or if you’re naturally good with numbers, offer your services to folks who need help with their taxes. Your clients will appreciate your years of experience, and your services will always be useful to someone.
Do you live near a school or university? Think about the areas you excelled at in school and skills you used in your career; use those to provide tutoring assistance to students struggling with a particular subject.
Math is a common subject that students need extra help with, but it’s certainly not the only one. Some kids need assistance composing English essays, while others could use a hand studying for history exams.
When your kids are grown and out of the house, retirement can get lonely. Connect with your community by offering childcare services for working parents.
A childcare business can be as simple as babysitting a few times a week, or as involved as starting your own daycare. Depending on your amount of free time and available startup funds, you can turn your childcare skills into a profitable business.
If you want to invest in an established business in your retirement, think about your passions. Have you always wondered what it would be like to own a restaurant? You don’t have to start from scratch—consider buying into an existing franchise. Restaurants, retail businesses, leisure companies, and more are always looking to expand. You’ll reap the rewards of business ownership without having to come up with every plan and idea on your own.
Keep your mind and body active in your golden years; start a unique business in your retirement and be your own boss from now on.