The life of an Indian is not easy. You start studying when you are a kid and are asked to get a job as soon as you finish education. The job usually lasts for a couple of decades, and you hardly get a break in between. In such a situation, it is very obvious that you will look forward to retirement and spending your life in peace.
But when retirement actually arrives, you start feeling bored and have no one to talk to as your kids have their job, while you have nothing but the TV screen.
In such a situation, one simple idea that might knock your door is to get into a business and keep yourself busy. Though many people think that doing business in old age is not very productive, we beg to differ.
This is the reason we have come up with 10 small business ideas for Indian retirees that need little or no investment.
1. Sell the Good Old Stuff
The first thing you can do is sell old stuff. You can start by selling things at your home that you no longer use but could vintage or a classic item, be it old DVDs or wine. Note that vintage items or antiques can fetch a high price depending on it’s exclusivity or limited quantity.
Once you taste success, you can list yourself as a seller on the various e-commerce platforms available in India.
If you have always had a knack for writing, then you can start making money by doing that as well. The simplest idea is to start your own blog and offer unique content to the audience.
For instance, if you were a bank manager, you can give insights on how the banking system works.
This kind of blog would be useful to students hoping to get into banking or existing bankers who want to learn more. If you think you have mastery in one subject like the cashless economy, you can write a book on that topic and earn royalties.
3. Become a Trainer in Skills
When you have spent your entire life doing a job that needed particular skills, it is very likely that you would have acquired many skills. So, you can teach one or a group of skills to the younger generation and earn good money.
For instance, if you were a sales manager, you can teach sales, negotiation and presentation skills to MBA students and earn a good profit. There are many private institutions that will value your expertise and pay you well for a few sessions.
4. Tutor Kids
In case you have a liking for teaching, but don’t want to work for fixed hours at a school, you can offer private tuition to kids at your home or offer to have these classes in their homes.
As the schoolwork of today’s generation is piling on by the minute, parents and students need all the help they can get. Home tutors in India can make up to 30 lakhs a year!
5. Try Soap Making [restrict]
Soap is a staple used in almost all households for cleaning or bathing. If you have always had an artistic side, then you can make the most of it by selling natural and handmade soaps.
As more and more people are realizing the importance of natural ingredients over chemical-based soaps, this is an attractive opportunity. You can start by creating a few soaps, selling them online and continue if the response is good. If not, you can always use the soap at your home.
There are numerous online marketplaces that cater to homemade and organic products. Checkout Natty, QTrove and Engrave. Many Indian soapmakers use this platforms to sell not only their handmade soap products, but also other arts and crafts.
6. Be a Handyman
Many Indian men think that fixing a fuse at home or drilling on their own is a good way to save money. If you are good at it, you can make this your profession and take up repair projects.
If you feel a little embarrassed by the thought of fixing your neighbour’s faucet, you can contact builders and take projects from there. Most reputed builders would be likely to give you a project to test you and then include you in all future projects if you are worth it.
7. Operate a B&B
The concept of bed and breakfast is quite new in India, but things are changing rapidly thanks to brands like Oyo.
If you own a property at a good location or a tourist destination, you can start working as a B&B owner from now and rent out that property to people who visit your town.
This is a great option for not only earning an income but making new friends as you will be surrounded by people at all time and won’t feel lonely anymore.
8. Be an Active Living Coach
Indians are focusing on health and fitness a lot more these days. If healthy living and staying physical is your forte then you may consider becoming an active living coach.
Apart from exercising and following a healthy diet, you can also teach people how to smile more, reduce stress, sleep better, avoid chronic diseases and maintain a healthy body weight. You can also learn a specific form of exercise like yoga or Zumba and train people to do that. Remember, this option is only meant for healthy and fit retirees who have no chronic illness and are content with their lives.
9. Concierge Business
If you have always been a detail-oriented and honest person, then you can start a concierge business too. As a part of this business, you run errands like shopping for gifts, planning parties, buying groceries, making vacation plans, and more. This service will be well-received by upper middle class and rich Indian couples/families who have a lot of cash to spare but no time for errands.
10. Provide Care
Last but not least, you can also consider providing care to family members or even pets. A common job among retired folks, becoming a nanny or part-time caretaker can bring much nourishment and satisfaction to the soul.
If you are good with kids, you can open a play school or a creche. Similarly, if you are good with pets, you may offer services such as pet-sitting or dog-walking.
You can start by taking on fewer clients, see how it works and then expand. Keeping fewer clients is also beneficial because you don’t need to register as a business until your income reaches a certain threshold.
All in all, it can be said that there are many business opportunities for retirees. If you are a retiree brooding over your morning cup of coffee and thinking about how you will pass the day. then it’s time for you to consider any of these smart business ideas for Indian retirees. Try each of the method at least once and stick to the one that gives you whatever you need more, income, engagement or peace of mind.
When thinking of starting a business as a retiree, make sure that you talk with your family and get their consent. There is no point in upsetting their personal life or intruding in their space just for your pleasure, is there?