Are you a retiree, an elderly person or senior and you are seeking ways to avoid being idle; while earning extra income? Then below are 20 small business ideas for old people or seniors in 2020.
My 80-year old maternal grandmother is someone who loves activity. At that age, she has a whole lot of things that she does. She has a crèche for children and she also has a birthing center for pregnant women. She’s such a great inspiration to me.
Sometimes when i feel like she’s doing too much and i advice her to take it slow, her response is always something like “Don’t you know inactivity would kill me faster.” This is the case for many senior citizens out there who are retired.
They always love to do something to keep them busy but there aren’t many companies out there willing to employ elderly people. Maybe it’s just my imagination but i always feel that when elderly people are not allowed enough physical and mental activity, it shortens their lifespan.
I understand that most people who are advanced in age need to take it slow and not involve themselves in activities that are physically exerting and strenuous but it doesn’t mean that the senior generation cannot still work nor do something to keep them busy if they have the energy.
There are some advanced countries that provide welfare support for their senior citizens but this is not the case in many developing countries. Elderly people still have to fend for themselves. Whatever the case may be, there are several businesses that senior citizens could do that are neither physically exerting nor stressful. Most of them are businesses that can be done from the comfort of your home.
Top 20 Small Business Ideas for Elderly People or Seniors in 2020
1. Baby sitting-: Elderly people love children and children also love to be around elderly people and this is why the first business i would recommend for an elderly woman is to set up a baby sitting center.
2. Consultancy-: You probably worked in one industry before you retired and after several years in that industry, you would most likely know a few tricks of the trade that you can teach other people. You could offer your services as a business consultant and help the younger generation some business success tips.
3. Public speaking-: Another option is to become a public speaker and share your ideas and knowledge with the younger generation.
4. Book writing-: You could also share your life’s journey, your experiences, things you learnt, marital advice, and parenting tips or just about anything you feel people would be interested in reading. You don’t have to stress yourself looking for publishers to publish your book; you can always write, publish and sell on the internet.
5. Coaching services-: There are several niches when it comes to coaching. You can become a life coach, a career coach, relationship coach, religious coach or a marriage counselor.
6. Pet sitting-: This is another business that doesn’t involve too much physical activity. However, you may need an assistant to help you out because pets can sometimes be restless and naughty.
7. Bed and Breakfast services-: Most elderly people complain of loneliness and boredom. Well, to ease the boredom, you could set up a bed and breakfast hotel. You do not need to purchase a property or have millions in your account to start a bed and breakfast business. If you have a bedroom or two in your home that you are not using currently, all you have to do is to convert it to a comfortable space where tourists or visitors can pay you to spend the night.
8. Property management-: You could also consider becoming a property manager. You could start with helping neighbors, friends or members of your local group to look for people to rent or lease their vacant properties. Again, this is a business that can be done conveniently from home.
9. Real estate developer-: You could also invest your retirement savings into building or buying houses for resale.
10. Tax consultancy-: Many companies and individuals require the services of someone who can help them reduce their tax burden. You could start a tax consultancy business to help such people out.
12. Blogging-: You could also share ideas, experiences and advise with the younger generation through blogging. You could earn a lot of money from advertisements and affiliate marketing.
13. Catering-: You could also become a caterer or write your own recipe book and sell it. Of course, there would be a lot of recipes the younger generation could learn from you.
14. Event planning & Management-: If you are someone who loves planning and organizing things, you could think of starting your own event management business.
15. Teaching-: Another top business idea for elderly people is to either set up a school or become a part-time or full-time teacher depending on how much time you have got to spare. You could even start an after-school tutoring business for school children.
16. E-bay selling-: E-bay is a good market place for selling just about anything. You could sell used stuffs you no longer need on e-bay, antique furniture, stuffs you make at home like jewelry, candles etc.
17. Customer service representative-: You could also start a home-based customer service business and help business owners take orders, respond to enquiries or solve problems their clients might be facing with their products and services.
18. Online tutoring-: If you love teaching but cannot cope with the stress of becoming a school teacher, you could become a tutor on the internet instead. There are several websites where you could apply to for online tutoring jobs and get paid nice commission.
19. Bookkeeping-: Another idea you should consider is to start a book keeping service and help people keep records of their income and expenses and even prepare financial statements.
20. Dress making-: You could also put your sewing skills to use by making and selling clothing items for babies and adults, bed sheets and pillow cases, stuffed animals, pet clothes, cloth diapers or duvets.