Smart business ventures for seniors: Unlocking profitability after retirement

By Nancy Tiwari | First Published Sep 26, 2024, 11:51 AM IST

Retirement can be a challenging time, especially when you're looking for something engaging to do. Senior citizens can explore various business opportunities to stay active and generate a good income.

Passing time at home after retirement can be difficult. After a while, senior citizens start getting bored. They wish they had some work to do to fill their days. If you are also over 60 and thinking the same, then today we have brought you 5 such business ideas (Business Ideas After Retirement) from which you can earn up to 3 lakhs monthly. In these businesses, you will get the benefit of both age and experience and can earn a lot of profit.

1. Rent out your Homestay

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If you have your homestay (Homestay), then after retirement you can rent out some rooms of it. This can be a very good business for senior citizens. Just for this, arrangements will have to be made in the homestay. With the help of a caretaker, you can decorate it beautifully, get local dishes made, provide safety and resources, which will be no less than excitement for the visitors and you will earn well.

2. Food Truck Business

Nowadays the culture of mini food trucks is going on fast. According to the Economic Times, the cost of food operations is around 30%. Leaving aside the rent and food expenses, there can be good monthly savings. In such a situation, if you are 60 plus, then by starting this business, you can earn up to 15 thousand rupees daily. If the average order of your food is Rs 100 daily, then by serving 100 orders every day, the earnings of 25 days can reach up to 3 lakhs.

3. Sale of Art and Crafting Products

Senior citizens can generate good income even while sitting at home. You can earn money online by making products with your skills in stitching, art and crafting. These can include paintings, quilts, scented candles, wall hangings, table mats and decoration items. You can also sell these home-made products with the help of sites like Etsy, Amazon, and eBay. Once your item attracts customers, you can earn a lot of money.

4. Private Consultancy

As a freelance consultant, you can share your life's learnings with people after retirement. You can motivate them to invest, buy and sell cars, avoid family problems. Apart from this, you can earn money from audit, legal service help, proofreading or ghostwriting of books, local language translation for small startups. You can charge separately for each work.

5. Online or Offline Tuition

If you have retired and are getting bored sitting at home, then you can teach online or offline tuition. This will also pass your time and you can earn good money. Nowadays there is a demand for teachers in every subject and they are getting good money. In such a situation, this can be a good option for you. If you do even one of these businesses, then you will not face any problems if you have not invested even after retirement.

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