Page 7 - THE NOTICEBOARD JULY 2020 EDITION 60
P. 7

September, 2010                                                                              Page 7
           Best Businesses for Retirees to Start



                                             might not be suitable for you.       are  uniquely  suited  to  start
                                             A d d i t i o n a l l y ,   o l d e r    tutoring  businesses.  With
                                             entrepreneurs  should  consider      c o m p e t i t i o n   b e c o m i n g
                                             how much time will be required       increasingly  fierce  at  top
                                             for  a  particular  venture. When    colleges, a growing number of
                                             selecting a business to operate,     parents are paying big bucks for
                                             be cognizant of the number of        private  tutoring.  Seniors  can
                                             hours  you  want  to  spend          capitalize  on  this  trend  by
                                             working  versus  spending  time      offering subject matter tutoring,
                                             with  grandchildren,  on  leisure    SAT prep, college essay writing
                                             activities, or traveling the world.  support, and more. As a bonus,
                                             In addition to considering your      you can set your own rates and
                                             finances and health, before you      hours  and  tutor  only  as  many
                                             settle  on  a  business  to  start   students as you desire.
                                             consider  how  big  a  business  Writing and Editing
                                             you'll  want  to  start.  Although  I f   y o u   h a v e   g o o d
                                             some seniors might be interested  communications  skills,  you
                                             in  starting  a  business  with  may be able to make extra cash
                                             employees and office space, if
                   any  retirees  are        you're retired or near retirement
                   turning  to  business     a lifestyle business may be more
       Mownership as a way to                to  your  liking.  A  lifestyle
       stay busy and active as well as       business  is  one  that  provides    helping  businesses  -especially
       supplement  their  retirement         enough income and free time to       small  businesses  –  with  their
       income.                               let you enjoy a desired type of      c o m m u n i c a t i o n s   n e e d s .
       When  it  comes  to  working  in      living.   Is a senior with social    Businesses  may  need  copy  for
       retirement, it's worth noting that    security,  pension,  and  savings,   the  company  website  or  blog,
       not  all  businesses  are  created    that  might  mean  just  working     publicity  releases,  sales
       equal.  Some  industries  require     part  time  in  a  business  that    materials or manuals written or
       higher startup costs in the form      evolves  around  your  personal      proofread.
                                                                                  Online Courses
       of  supplies,  staff,  and  rent  on   skills or hobbies.                  The  online  learning/training
       brick-and-mortar  shops.  If          Here  are  some  of  the  best       market  is  expected  to  exceed
       you're  a  senior  thinking  about    retirement business ideas:           $200 billion by 2024. If you have
       how to start a business, consider  Taxes and Bookkeeping
                                                                                  a  skill  that  other  people  would
       your  financial  limitations.  In  Many entrepreneurs need a little
                                                                                  pay to learn and you're good at
       particular,  retirees  should  be  help  managing  the  books.  If
                                                                                  explaining things, you could tap
       wary of taking on debt during  your  day  job  involved
                                                                                  into that market by turning what
       their golden years or depleting  accounting or tax prep, then you
                                                                                  you  know  into  one  or  more
       their retirement savings to start  might  want  to  consider               courses to teach online.
       a business.                           providing  financial  consulting
       Your health is another thing to  services in retirement. Not only
                                                                                  You  can  sell  your  courses
       consider.  In  deciding  on  a  can you start this small business
                                                                                  through  online  marketplaces
       business  to  start,  honestly  with little to no capital, but you
                                                                                  such as Udemy, or through your
       evaluate your physical ability to  can perform your services from
                                                                                  own website or other platforms
       do  the  work.  For  instance,  a  home or anywhere else with a
                                                                                  for  course  delivery.  Once  the
       business that would require you  Wi-Fi connection.                         courses are created you primary
       to stand for long periods of time  Tutoring                                time investment will be
       or do a lot of bending or lifting,  Retired  teachers  and  librarians                         Continue on pg 8
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