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This article presents 16 small business ideas for seniors. If you want to skip the detailed analysis, you can go directly to the following link: 5 small business ideas for seniors.
Entrepreneurial tendencies among older people
According to a World Health Organization report, between 2015 and 2050, the proportion of the population aged 60 and over will nearly double from 12% to 22%. In 2020, the population over 60 was five times as large as the number of children under 5. By 2030, nearly one in six women will be over the age of 60. The elderly population is increasing significantly, and life expectancy is on the rise. This suggests why global entrepreneurship and labor dynamics are changing to include more older people.
According to a report by Forbes, 22.8% of entrepreneurs in 2021 were people between the ages of 55 and 64. Founders over 45 years old of new business activity he accounts for one-quarter to one-third. As life expectancy rates continue to increase around the world, people will experience non-linear 60-year career paths rather than traditional 40-year career settings. Not only do seniors have ample experience in the industry, they also happen to be financially stable and have the freedom backed by a vast network. Forbes also highlights that older and late-life entrepreneurs are three times more likely to introduce novel ideas to the market than younger entrepreneurs. You can also look into part-time jobs for seniors that pay daily or weekly wages.
Ananas Anam is an innovative company that upcycles pineapple leaves into sustainable vegan textiles such as Pinatex and Pinayarn. The company is owned by Dr. Carmen Hijosa, who received her PhD in 2014 at the age of 62. She didn’t have enough knowledge about the textile industry and she wanted to expand her learning. She founded her company in 2013 and leveraged her PhD knowledge to scale the business. She also offers a monthly newsletter featuring news and opportunities for impactful entrepreneurs.
How can older people upskill themselves?
SeniorNet, Udemy, Inc. (NASDAQ:UDMY), and GetSetUp provide opportunities for seniors to improve their skills and build successful businesses. Let’s discuss some of the services provided by these companies. See also low-stress jobs that are perfect for seniors.
SeniorNet is a charity that provides computer and Internet education to seniors, veterans, disadvantaged people, people with disabilities, and other people with disabilities. It was founded in 1986 and is based in Florida, USA. Training takes place in informal groups or learning centers. In 2021, AMI partnered with SeniorNet to support older New Zealanders. This partnership will enable older New Zealanders to become more familiar with digital technologies such as insurtech. AMI leverages the power of her SeniorNet to make its insurance tools accessible to everyone, especially seniors.
Udemy, Inc. (NASDAQ:UDMY) is an edtech company headquartered in California. Udemy, Inc. (NASDAQ:UDMY) offers a variety of courses for seniors. He is one of the courses “Learn how to work from home and digital marketing for seniors” which has 3,204 students and has a rating of 4.5. This course helps seniors learn the best ways to run a business from home. This course covers several areas such as virtual assistance, online sales, online tutoring, blogging, freelancing, consulting, and translation, to name a few.
GetSetUp is an online community for seniors looking to learn new skills and connect with other seniors. GetSetUp is home to more than 4 million seniors. The platform focuses on helping individuals earn extra income without leaving home, manage their fitness and health, improve their cooking skills, and become familiar with technology. Masu. Communities help older adults learn from each other.
Now that we have discussed the position of seniors in the market, let’s take a look at 16 small business ideas for seniors. Also read our article on the best vacations for seniors on a budget.
16 small business ideas for seniors
our methodology
We consulted more than 10 rankings and reports on the internet to gather a list of 16 small business ideas for seniors. We selected and ranked the business ideas that appeared in 50% of the sources.
16 small business ideas for seniors
16. Sewing and tailoring
Seniors can take up sewing, crocheting, and other handmade clothing creations. These products can be sold on e-commerce platforms such as Amazon.com, Inc. (NASDAQ:AMZN). On the Individual plan, Amazon.com, Inc. (NASDAQ:AMZN) charges $0.99 for each item sold. The company trains potential sellers, provides seller support, helps with inventory management, and allows integration with other applications.
15. Start a newsletter
Older people usually have a lot of wisdom to share with others. Sites like Substack allow you to set up a newsletter. Seniors can share weekly or biweekly newsletters with important life quotes. If an individual specializes in a particular field, such as finance or real estate, they can also share their opinions and insights about the industry through a newsletter.
14. Home organization
Starting a home organization business is also a small business idea for seniors. Seniors can provide tidying and organizing services to other households in the community. Seniors can market their services by word of mouth through community centers.
13. Public speaking
Public speaking is one of the best small business ideas for seniors. Elderly people have rich experience in various fields. Seniors can utilize social media and YouTube to talk about what matters most to them. This includes history lessons, political stories, social stories, etc. Seniors can also hire a freelance video editor. Her average cost per hour for a video editor on Upwork is her $15.
12. Nutritional guidance
Older adults have extensive experience assessing healthy eating habits. To become a certified dietitian, seniors can enroll in a registration course to ensure that the guidance they provide is trustworthy. Seniors can enroll in senior centers or community programs to provide nutritional guidance to other seniors.
11. Fitness training
Older adults are becoming increasingly conscious about their health and fitness. The International Sports Science Association (ISSA) allows you to become a certified personal trainer through a four-week online program. Anyone over the age of 18 can register for his ISSA certification. This certification is accepted by most gyms in the United States. Meanwhile, seniors can also offer their fitness training to other seniors in their community. Seniors can also set up an Instagram account to promote their fitness efforts. Joan McDonald is a celebrity in her 70s. She runs her Instagram account under the name trainwithjoan. This account has over 1.9 million followers.
10. Create a course/book
Creating a course or book is one of the best business ideas for seniors. Users can create and sell courses on several platforms, including Udemy, Inc. (NASDAQ:UDMY) and Teachable. Seniors can hire an assistant to manage course marketing and listings. Teachable allows course creators to target influencers to boost their courses. Teachable offers a variety of plans. The Basic plan is available for $39 per month, the Pro plan is available for $119 per month, and Pro+ is available for $199 per month. Teachable also offers a free plan, allowing creators to try it out and earn money before they start paying.
9. Sale of handmade crafts
Older people are considered to be very artistic. Seniors can create handmade crafts and sell them on Etsy, Inc. (NASDAQ:ETSY). Etsy, Inc.’s (NASDAQ: ETSY) handmade wooden chess set sells for $216.93 and is one of his best-selling items on the platform. Etsy, Inc. (NASDAQ: ETSY) charges $0.20 per item and charges money every time a sale is made. Listings are valid for 4 months and you must pay the listing fee regardless of sales.
8. Career coaching
Older adults usually have great advice to offer young adults and teens regarding career trajectories. Elderly adults can provide career and life coaching to young adults and teens to prevent them from making serious mistakes. Other areas that seniors can target include health and wellness coaching and retirement coaching. This can be achieved by joining a community center or attending a workshop.
7. Food business/catering
Seniors who are good at cooking can start delivering homemade meals near or far. Seniors can also accommodate small events such as birthday parties and other gatherings. Business owners can focus on creating their family’s signature or specific dishes.
6. Pet care
Providing pet care is one of the best small business ideas for seniors. Main services include dog walking and house sitting. Wow! is a site for pet caretakers nationwide. More than 400,000 pet owners live here, and to date he has donated more than 16 million meals.
Click to keep reading to see 5 small business ideas for seniors.
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Disclosure: None. 16 small business ideas for seniors Originally published on Insider Monkey.
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