10 Businesses That Are Good For People Whose Retirements Are Close
10 Businesses That Are Good For People Whose Retirements Are Close
Too many people face the dilemma of finding something to fall back to after retirement. While majority might take the easy road to finally sit at home all day and play with their grandkids, waiting for their monthly pension that might not be enough to cater for their needs, some peruse the option of finding something else to do that could earn them passive income after retirement, and would be an addition to their pension.
For those who fall under the second category, those that have decided to take the high road and get their hands busy after retirement, there are several options that they can chose from, based on their interest and the profitability of each option. To suggest solution on the problem of finding something else to do after retirement, aside sitting at home idle, here are 10 businesses that are good for people whose retirements are close.
- Own A Drug Store (Chemist Shop)
In Nigeria especially in our various neighborhoods, the chemist business is highly competitive, but to stay above the competition it is important to know a lot about drugs.
There are 2 ways you can become a legal owner of a drug store. The first way is by forming a partnership with someone who has a registered pharmaceutical business. It is devoid of numerous registration processes involved in opening a pharmacy in Nigeria.
The second way involves opening the drug store on your own, but you will have to register your drug store under the pharmaceutical society of Nigeria (PCN).
2. Poultry Farming
Poultry farming is currently one the fastest growing businesses in Nigeria and one of the most lucrative in the agricultural industry. For someone planning for retirement, this is one of the best options you can pick. Retirement would give you the time needed to manage and maintain the poultry business, and also get the best out of it.
The capital required to start a poultry business is also not too much, which explains why it’s one of the best options for your retirement plan. With a solid business model, and a functioning system, you get the opportunity of creating a fortune with your poultry business.
3. Sell Jewelries
I know this sounds lady like but I know quite a handful of men making money out of this business. Having the right jewelry to match the perfect outfit has always been a Herculean task for ladies. Each new outfit require a different jewelry, which leads to continuous purchase of jewelries. You could even learn how to make beads; it helps create more varieties for your clients to choose from. Finding a market for your products wouldn’t be too difficult as long as you have what they need.
10 Businesses That Are Good For People Whose Retirements Are Close
4. Own A Provision store
Another highly Competitive market, this business is great when you have big capital and in a community that have constant demands. Selling important house hold materials could be a game changer for you, items like milk, cream, stew items and other cosmetic items could make you their number contact when they want to fulfill this need. This business offers you the opportunity to either be a retailer or a wholesaler and even a distributor for a particular brand.
Read Also: How to Make Money by Selling Your E-book on Amazon
5. Catering Services
While this craft is reserved for the female gender, any man with interest could delve in it and also be successful. As a man you could make it a business, get a good location and then go on to hire people that know their way in this business. The regular owambe (Yoruba parties) has proven to be a major source of income for caterers and event planners alike. Even birthday celebrations are increasing in number, so the need for cakes, small chops and other light eatables are also in demand. You could also partner with some eateries to gain supply of a particular product.
6. Laundry Services
In an ever-busy world, we are constantly out of time and always in need of more time, the need to find people to help us with some chores to create more time for other things increases too. Having a business that helps people get more time is likely to give you a nice retirement plan.
7. Typing and Printing Services
This business requires that you become a computer literate but the returns are endless. This business can be categorized under businesses that are not too competitive but occupies an important position in your market space. Minutes of meetings, typing of CV, Exam questions for schools, official letters and other official documents are needs that would require this service.
10 Businesses That Are Good For People Whose Retirements Are Close
8. Marketing
This is the promotion, distribution and selling of a service or product. You make money from this business through commissions, the more products you sell your commission increases. This business requires confidence and marketing techniques which can be learnt. It also requires more mobility, there are cases that would require to travel and you also get to enjoy some adventures.
9. Day care Services
If you enjoy the company of little children, this could be a very enjoyable business for you. You get paid to do something you love. Nowadays both parents have jobs that take them away from their kids, most of this parent especially the mothers won’t be at rest if they leave their kids alone at home, but this stress could be lessened when an older person offers to take care of their kids for a particular fee.
10. Consulting
For someone who is planning for retirement, consulting could also be a really big option and an opportunity to generate passive income. With your level of experience in that particular field you’re about to retire from, you can start consulting for companies and businesses in that same field.
It could be for employee training and development, or workplace conflict resolution, or even hosting conferences and seminars on improving productivity in that field. If your work history is solid enough, in terms of your on-job accomplishments, you’re sure to get clients that would need your service.
As a prospective retiree one of the things to consider when choosing a business is excess labour, keep in mind that age isn’t on your side anymore so you need to choose a business that won’t drain the energy you have left.
Hope you enjoy this article?
Share your thoughts in the comment session.
Contact us today for your business consultancy and business advisory services. We can help you fine tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write business plan and help with fund raising strategies and Grant applications. We can help you start, grow and expand your business.
Call or WhatsApp us now on 081 0563 6015, 080 7635 9735, 08113205312 or send email to dayohub@gmail.com and we will solve any of your business problem.