6 Low Startup Cost Businesses You May Not Have Thought Of
Boomer Business is Booming!
More and more middle aged or retired people are starting their own businesses. Some start them as moonlighting jobs, while others are charging forward to make a full time enterprise out of them. It is easy to understand some of the reasons that the over 50 crowd would like to own a business. Some have always had that dream, while others just want to take control of their financial lives. And of course, some of us just need more money!
Many of us are not in a position to gamble our retirement accounts a a new business though, so we need a business we can start quickly without a huge investment. That also means, of course, we do not have time to spend months or years getting retrained with a whole new set of job skills.
Look at some low cost businesses you could start that really do not cost a lot to begin, and that can even get started while you are still plugging away at your old job! Understand that you cannot really ask which one of these is the best retirement or over 50 business. The right business startup for you will depend upon your strengths, personality, risk tolerance, and skill set.
- Webmaster or Blogger – It is really simple and inexpensive to start your own blog or website these days. Almost everybody I have ever known has some skill or knowledge that they could share with others. Be warned that learning how to make an effective website, attracting visitors, and then actually making some money out of the information you share is a skill that can take awhile to develop though. However, it certainly works out for many people, and there is lots of free information online to help you get started! There are also thousands of sponsor programs out there to help you start earning money for your work. You can learn more about this here - Explain Affiliate Marketing.
- Insurance Agent – You will need a state license to start selling insurance, but you can usually find a week-end class that will help you pass the test. After that, if you can hook up with the right brokerage and are a good sales person, you can really control your income. Many agents start working out of their own homes with a phone and an internet connection. You can also set evening appointments, so you can continue with your day job. Selling insurance is not for everybody, but many people have turned it into a lucrative second career in midlife
- Bookkeeping - You do not need a 4 year accounting degree or CPA to start a bookkeeping business. I have known people who already had some good business skills, got familiar with popular accounting software, and then turned that into a high 5 figure business. Small businesses create a demand for bookkeepers, and many start by working on nights or week-ends. There are also some online courses, which only take a few weeks to complete, you can take to make sure you are ready.
- EBay Seller – Lots of professional EBay sellers started out by selling stuff they had around the house. After they cleaned out their closets and garage, they started learning how to source products. Sometimes product sourcing can be the toughest part of this business for newbies, but you can find affordable and legitimate resources to help you. WorldWide Brands Product Sourcing is one we’ve used to our satisfaction. Here is a free product sourcing video. If you’d like to work online from your PC, this is one small business to consider.
- Personal Services – One area of growing demand is for personal services. Busy people need their dogs walked, kids picked up from school, their carpets cleaned, a garbage disposal installed, or elderly family members taken to appointments. There are many two income families with more money than time, and they would be happy to pay a trusted person for the help.
- Flipper - This business is probably as old as time, and I am not writing about an adorable sea mammal either. Many people, and some very large businesses, rely on an ability to pick up cheap used stuff, fix it up, and resell it for premium prices. They flip merchandise, often after fixing it so it works or looks good. I know a woman who purchases old furniture at garage sales, applies some sandpaper, varnish, and paint, and then resells it in her thrift shop for a several hundred percent markup. If you have the skills, or the ability get skilled work done at a price ou can still profit on, this may be a fun and rewarding business for you!
Get some more tips - 5 simple home business ideas to start today!