Top 12 Inspiring Retirement Business Ideas for Seniors

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Tony Pham Jul 16 2025

Retirement is the perfect time to pursue your passion, stay active, and generate extra income. If you want great retirement business ideas. In the article below, NextSky will bring you practical ideas, insights, and specific steps to help you have an inspiring new start.

Why start a retirement business?

Retirement entrepreneurship offers unique benefits that fit the needs and aspirations of seniors. Here are some reasons why starting a business after retirement is an attractive option:

Supplemental income: Starting a business after retirement can generate additional funds to cover living expenses, pay off debt, or enjoy hobbies like travel and entertainment.
Staying healthy and active: Many studies show that staying physically and mentally active helps older adults reduce their risk of dementia and improve their overall health. Running a small business is a great way to keep your mind sharp and your body flexible.
Pursue your passion: Retirement is the ideal time to turn long-standing hobbies or dreams into profitable projects that provide satisfaction beyond financial reward.
Stay socially connected: Starting a business allows you to interact with customers, suppliers, and the community to combat loneliness, a problem that affects nearly half of Americans aged 50–74.
Leverage experience: Retirees bring decades of expertise, making them well-suited to starting a lower-risk business, as pensions or savings provide a financial safety net.

Top 12 retirement business ideas for seniors

1. Consulting services

Retirees with a wealth of professional experience can leverage their strengths to provide consulting services in finance, marketing, or management. For example, a long-time accountant can continue to support small businesses through professional accounting services.

Startup cost: Low (website, marketing, ~$500–$1,000)
Potential income: $40/hour
How to get started :

Identify an area of expertise such as financial planning, human resources consulting, or technology solutions.
Create a professional website using platforms like Shopify to showcase your knowledge.
Promote your services through LinkedIn, local business networks, or platforms like Upwork.
Offering online or in-person consultations that fit your mobility and schedule.

For example, Marcia Mantell, a retired financial professional, started Mantell Retirement Consulting, Inc., where she advises financial firms, writes books, and delivers workshops focused on retirement readiness.

2. E-commerce store

Retirees who enjoy creative pursuits like woodworking, knitting, or baking can turn their passion into an online business. Dropshipping also allows them to sell without having to manage their inventory, making it an ideal option for those who have difficulty moving or don't have much storage space at home.

Potential earnings: S1,000–$2,000 per month for dropshipping; varies depending on handmade products (Shopify).
Startup costs: $100–$500 for initial website setup and marketing; minimum for dropshipping.
Time commitment: 10–15 weekly dropshipping hours, depending on handmade production.

How to get started:

Choose a niche based on your interests (handmade, antiques, or eco-friendly products).
Use Shopify SEO-friendly themes like Nextsky to build a fast, optimized store.
Source products through dropshipping platforms like Oberlo or create products yourself.
Promote through social media, email campaigns, or local craft fairs.

For example, Paul Tasner, after retiring at 66, launched PulpWorks, an eco-friendly packaging company that sells via its online store, showing how retirees can turn sustainability into profit.

Learn more: 27+ Best Shopify Themes For Your New eCommerce Store

3. Tutoring or online courses

If you are a retired teacher with strong professional knowledge, you can leverage your skills by tutoring or creating online courses. This is a flexible way to share your skills while meeting the growing demand for learning on platforms like Udemy that attract millions of users worldwide.

Potential earnings: $10–$50/hour for tutors and $500–$5,000/month for courses.
Startup costs: Minimal for website, marketing, and video equipment.
How to get started :

Identify teachable skills such as math, music, or cooking.
Provide live tutoring locally or online via Zoom or Tutor.com.
Create video courses on platforms like Udemy or your own Shopify website.
Promote through community centers, social media, or educational forums.

For example: David Small, a retired physicist, now teaches quantum mechanics on Outschool and Udemy, earning passive income while inspiring the next generation of scientists.

See more: How to Sell Online Courses Successfully: From Idea to Income

4. Services for the elderly

According to AARP Longevity Economy Outlook, Americans age 50 and older generate about $8.3 trillion a year, accounting for about 40% of the nation's GDP. As such, retirees can tap into this market by offering services specifically geared toward seniors, such as support services, live-in counseling, or nutrition counseling.

Potential earnings: From $2,925 to $5,164 per month (according to Glassdoor and PayScale).
Starting cost: About $200–$1,000, including certification, website development, and marketing.
Time commitment: 20–40 hours per week, depending on the scope and scale of operations.
How to get started :

Provide services like grocery shopping, appointment scheduling, or home health checks.
Promote locally through senior centers, churches, or online through your Shopify website.
Ensure necessary insurance and certification to build trust and safety.

For example: After retiring from the healthcare industry, Judith Jones started Aging Matters Consulting, helping seniors plan lifestyle transitions and connect with in-home care solutions.

5. Freelance services

Hobbies like writing, photography, and woodworking can become lucrative businesses. Mark Holtzman, for example, combined his passion for flying and photography to build a thriving aerial photography business.

Potential income: $20 – $50/hour.
Startup costs: $100–$300 for website and marketing.
How to get started :

Post your services on platforms like Upwork, Fiverr, or Freelancer.
Create a portfolio website on Shopify to attract customers.
Connect with local businesses or online communities to find gigs.
Competitive pricing based on experience and market standards.

For example, James T. Bartlett, after leaving corporate marketing, became a freelance travel writer, contributing to publications like BBC Travel and National Geographic Traveler.

See more: Top 100 Freelance Business Name Ideas That Will Boost Your Brand

6. Franchise ownership

Franchising allows you to inherit an established brand and receive proper training, minimizing the risk compared to starting your own business from scratch. This is ideal for retirees who have savings and want to invest safely.

Potential earnings: $50,000–$100,000/year for successful franchises.
How to get started :

Research franchises that fit your interests, like coffee shops and fitness centers.
Carefully review the franchise agreement and fees.
Use savings or a small business loan for initial investment.
Take advantage of franchise support for marketing and operations.

7. Pet care

According to statistics from the American Pet Products Association (APPA) and the Insurance Information Institute, total spending on pets is $147 billion. There is a golden opportunity for services like dog walking and pet care, jobs that are both profitable and help you maintain an active and community-connected lifestyle.

How to get started:

Provide popular services such as dog sitting, grooming, or walking in residential areas.
Build a simple website to showcase your services, price list, and customer feedback.
Promote through pet stores, veterinary clinics, or online platforms like Rover.
When operating the service, you should buy civil liability insurance for peace of mind.

Potential income: $500–$2,000/month.

For example, Kristin Morrison built a six-figure pet sitting business and now coaches other pet business owners at Six-Figure Pet Business Academy.

See more: 1000+ Pet Business Name Ideas to Inspire Your Brand Today

8. Handicrafts or handmade products

Turning a hobby like knitting, pottery, or baking into an inspiring, low-risk small business can be a great way to satisfy your passion. Platforms like Etsy or local fairs are great places to start.

Potential earnings: Can range from $500 to $3,000 per month, depending on the number of products sold and how quickly you expand.
Startup costs: $100 to $1,000, including materials, website design, and marketing.
How to get started :

Identify a craft you enjoy (soap making, jewelry, or baking).
Set up an online store on Etsy or Shopify with Nextsky's SEO optimized themes.
Sell at farmers' markets or craft fairs to increase exposure.
Use social media to promote products and build your brand.

See more: 1000+ Impressive Craft Business Name Ideas Shouldn't Miss

9. Life Coaching

Suppose you can listen, understand, and inspire. In that case, consider becoming a life coach by sharing your personal experiences, self-development knowledge, or business orientation to help others overcome challenges, achieve goals, or find balance in life.

How to get started :

Sign up on Coach.me or create a website to showcase your services.
Design 1:1 or group training packages depending on the customer's target.
Promote through LinkedIn, industry forums, and community groups.
Offer free consultations to build credibility and attract clients.

Potential earnings: Approximately $20–$50 per hour, depending on expertise, experience, and clientele.
Time commitment: 10–20 hours per week, suitable for part-time workers or combined with a primary job.
Startup costs: $100–$500, including website design, training tools (Zoom, Notion, Calendly...), and marketing activities.

For example, Susan Hyatt is a certified life coach who now runs group programs and coaches midlife women on personal transformation and empowerment.

10. Gardening or plant rental

Growing plants to sell to offices, shops, and restaurants is a green, environmentally friendly business model. This idea is especially suitable for older or retired people passionate about gardening, helping to maintain mental health and creating a stable source of income from their hobby.

How to get started:

Invest in buying seedlings, soil, and necessary gardening supplies.
Design a model garden space at home for display and testing.
Promote your garden care or design services to nearby offices, restaurants, or residential areas.
Create a service profile on your website, fan page, or social media platforms like Facebook and Instagram to attract customers.

Potential income: 200–1,000 USD/month/customer.
Time investment: 10–20 hours per week.

11. Available property for rent

You can generate extra income by renting out existing assets like equipment, storage space, or even rooms in your home. Platforms like Airbnb make it easy to rent out rooms for short periods, while other services can help you rent out storage, vehicles, or equipment hourly or daily. This is a great way to maximize your idle assets without much upfront investment.

How to get started:

List your property on Airbnb or other reputable short-term rental platforms.
Ensure accommodation complies with local legal regulations.
Invest in professional photography to highlight your space and attract tenants.
Leverage social media and community channels to reach potential tenants.

Potential monthly income: $500 to $3,000, depending on location, quality of space, and occupancy rate.
Weekly operating time: Only 5–15 hours required to manage reservations, cleaning, and tenant care.
Initial investment costs: Ranging from $500 to $5,000, including basic interior fit-out, light renovations, and platform usage fees.

For example, Chip Conley was one of the first boutique hotel entrepreneurs and later became an advisor at Airbnb, showing how retirees can use their real estate creatively.

12. Housekeeping services

House cleaning and rearranging support service, helping customers create a neat and airy living space. Especially popular with older people who want to simplify their lives and keep their homes tidy.

How to get started:

Invest in essential tools like storage boxes, sorting shelves, and labels.
Promote your services through flyers in your neighborhood or posts in local Facebook groups.
Offer a free initial consultation to build trust and attract clients.
Take before and after photos to build your portfolio and highlight your work.

Earning potential: $1,000 to $3,000 per month, depending on the number of clients and area of operation.
Flexible time: You only need to spend about 10-20 hours per week, suitable for busy people or extra work outside of office hours.
Initial Costs: Range from $100–$500, primarily for investing in organizing tools and initial basic marketing costs.

For example, Rita Wilkins, “The Downsizing Designer,” launched a successful business helping older clients declutter and design minimalist spaces after downsizing her own life.

TOP 4 questions to ask yourself before starting a retirement business

How to finance your business

Starting a business doesn't require a considerable budget. You can start with little to no money, even $0, by taking out microloans, borrowing against your 401(k), or finding retirement funding sources. Use free tools to minimize your startup costs, like designing a logo or using spreadsheets to track your finances.

Leverage your current strengths and learn the skills you need

While not everyone is tech-savvy, you can still learn and develop new skills through free courses such as web design or computer use for seniors. Don't hesitate to leave your comfort zone and challenge yourself with new things.

Create an escape plan that doesn't

While you may be excited and healthy to run your business, you must consider the unexpected. If your health no longer allows you to continue, do you have a plan for transitioning or closing your business? Discuss with your family and prepare a strategy to protect your business long-term.

Building a family business

Starting a business can allow your family to bond together and create a lasting legacy. A business helps you stay connected to the next generation and can be a bridge for family members to grow together and build lasting value.

Frequently Asked Questions (FAQs)

Is 60 too old to start a business?

Not at all. Age 60 is not too late to start a business. In fact, many successful entrepreneurs launched their ventures after 60, bringing with them valuable life experience and industry knowledge.

How can I start a business at 65?

There’s no one-size-fits-all answer, as the best approach depends on your unique skills, background, and resources. However, helpful steps include researching your chosen industry, analyzing competitors, and developing a solid business plan. It’s also important to seek advice from an experienced business attorney to ensure you meet all legal requirements when setting up your company.

What kind of business is best for retirees?

The ideal business depends on your skills, interests, and resources. That said, popular options for retirees include offering consulting services, running a home-based business, or investing in a franchise.

Can I start a business after retirement?

Absolutely. Many retirees consider starting their own business to pursue a passion or generate extra income. However, launching a business at an older age can come with certain risks. It's wise to consult a financial advisor to determine whether this path aligns with your personal and financial situation.

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Tony Pham

Hello! I'm Tony Pham, a full-stack Shopify, Magento, and WordPress developer with over 12 years of experience in both front-end and back-end development.

Since 2016, I have been proudly working at Nextsky as the Tech Lead, where I continue to enhance my skills and contribute to exciting projects. One of my proudest works is the Agile theme, which passed Shopify's high standard and is currently available on Shopify Theme Store.

I am passionate about researching new technologies and staying updated with the latest trends in the industry. It not only makes my life more fulfilling and exciting but also allows me to bring better service to clients.