Retirement Business Ideas?
Discussion
I currently run my own business, and it's hard work, and takes up a lot of time. No real surprise there.
When I retire, I'd still like to do something that is interesting and generates an income, but with the ability to "turn it off" when it suits me. Also, assume little to no staff.
So for example, part of my current business is online, which is very difficult to step away from as customers keep ordering and expect fast shipping. So I probably wouldn't do anything eCommerce related. Same with retail, other than in a tourist area, you still have to be open when people expect it.
The only thing I can currently think of is something like seasonal glamping. Buy some land in a nice spot, set up some nice wooden pods, charge per night etc. Yes it's still a lot of work, but you can easily limit the availability to when you want to be there to service it. It would need minimal staff, I could contract out cleaning etc. It should generate a decent margin once set up.
Are there any other businesses I could consider? (Again, not looking for easy money or low effort / passive income, I'm fine with working hard, just don't want to do it every day of the year)
When I retire, I'd still like to do something that is interesting and generates an income, but with the ability to "turn it off" when it suits me. Also, assume little to no staff.
So for example, part of my current business is online, which is very difficult to step away from as customers keep ordering and expect fast shipping. So I probably wouldn't do anything eCommerce related. Same with retail, other than in a tourist area, you still have to be open when people expect it.
The only thing I can currently think of is something like seasonal glamping. Buy some land in a nice spot, set up some nice wooden pods, charge per night etc. Yes it's still a lot of work, but you can easily limit the availability to when you want to be there to service it. It would need minimal staff, I could contract out cleaning etc. It should generate a decent margin once set up.
Are there any other businesses I could consider? (Again, not looking for easy money or low effort / passive income, I'm fine with working hard, just don't want to do it every day of the year)
Grow your online biz enough to have it run itself (ie employ people).
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
TownIdiot said:
I've had a look at glamping and it's a bit more capital intensive than I thought as to charge a decent amount per night you needs proper toilet and shower facilities.
I've got some land that would be perfect for it but it's too expensive to set up for a sideline.
Interesting.I've got some land that would be perfect for it but it's too expensive to set up for a sideline.
Hoofy said:
Grow your online biz enough to have it run itself (ie employ people).
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
I already employ people, but I don't want a business that large when I am retired, it's difficult to switch off. And I don't have the nous to start again with a digital only product. Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
Bob_Defly said:
Hoofy said:
Grow your online biz enough to have it run itself (ie employ people).
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
I already employ people, but I don't want a business that large when I am retired, it's difficult to switch off. And I don't have the nous to start again with a digital only product. Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
Hoofy said:
Bob_Defly said:
Hoofy said:
Grow your online biz enough to have it run itself (ie employ people).
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
I already employ people, but I don't want a business that large when I am retired, it's difficult to switch off. And I don't have the nous to start again with a digital only product. Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
Something seasonal seems the logical answer, but you'd have to live somewhere touristy.
One of my mother's friends quit nursing full time to run a beachside snack bar/cafe knocking out chips and fizzy pop to the grockles.
Hard graft from Easter to September, but then the whole autumn, winter, spring off.
One of my mother's friends quit nursing full time to run a beachside snack bar/cafe knocking out chips and fizzy pop to the grockles.
Hard graft from Easter to September, but then the whole autumn, winter, spring off.
Bob_Defly said:
Hoofy said:
Bob_Defly said:
Hoofy said:
Grow your online biz enough to have it run itself (ie employ people).
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
I already employ people, but I don't want a business that large when I am retired, it's difficult to switch off. And I don't have the nous to start again with a digital only product. Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
Hoofy said:
Bob_Defly said:
Hoofy said:
Bob_Defly said:
Hoofy said:
Grow your online biz enough to have it run itself (ie employ people).
Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
I already employ people, but I don't want a business that large when I am retired, it's difficult to switch off. And I don't have the nous to start again with a digital only product. Or sell digital products that don't require manual work. That's what I'm doing. Although I do like to work with customers but at some point I can stop doing that and just rely on the digital product suite.
"What's your business?"
"My business? You can call it the art of working without working."
I feel like I'm 20% there.
Plus I'll be in a different location (maybe even country) so keeping the current business probably isn't an option.
Bob_Defly said:
Like Truckosaurus said, I want something seasonal, or similar. It's easy to say hire good staff and step away, but you never really can as an owner, there is always stuff to do.
Plus I'll be in a different location (maybe even country) so keeping the current business probably isn't an option.
Fair enough. Plus I'll be in a different location (maybe even country) so keeping the current business probably isn't an option.
One thing I'm half considering is to move house to somewhere with converted outbuildings to let.Yes it has to be a "tourist" area but the fees would allow a larger house/more land to be purchased and a business case could be made should borrowing be needed but I'd try to avoid that.
I'm aware it's hard graft and people are "difficult" but I do that all day anyway so transferable skills and all that.
Property is never a bad investment. I could do a fair amount of maintenance myself so savings there.Maybe get staff for cleaning etc, not hard to check as you live there.
I reckon £1-1.25 mill gets a 4 bed house with 1 or 2 letting properties onsite.
I'm aware it's hard graft and people are "difficult" but I do that all day anyway so transferable skills and all that.
Property is never a bad investment. I could do a fair amount of maintenance myself so savings there.Maybe get staff for cleaning etc, not hard to check as you live there.
I reckon £1-1.25 mill gets a 4 bed house with 1 or 2 letting properties onsite.
I agree that you still have to manage the manager. (and hire them, fire them, motivate them)
My plan is
1. make staff redundant.
2. whack up prices unrealistically high
3. change terms of business massively in my favour, particularly around deadlines
i figure this will result in one of three things.
i) it will clear out the vast bulk of the business and just leave me with a small number of non picky clients and a low enough workload I can easily do it all myself at a pleasant pace.
ii) the new pricing is a roaring success, I have a second wind and write a book / ted talk about how to price services.
iii) The business goes under and I get a job cutting hedges
the third seems most likely but I think also my preference. But it's hard to bin something that's been your baby and provider all at once, if it still has some life.
My plan is
1. make staff redundant.
2. whack up prices unrealistically high
3. change terms of business massively in my favour, particularly around deadlines
i figure this will result in one of three things.
i) it will clear out the vast bulk of the business and just leave me with a small number of non picky clients and a low enough workload I can easily do it all myself at a pleasant pace.
ii) the new pricing is a roaring success, I have a second wind and write a book / ted talk about how to price services.
iii) The business goes under and I get a job cutting hedges
the third seems most likely but I think also my preference. But it's hard to bin something that's been your baby and provider all at once, if it still has some life.
Edited by lizardbrain on Monday 30th December 21:26
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