When many people think of retirement, they imagine escaping to the Caribbean to lounge on the beach. However, there are a lot of seniors who either want to continue working or need to for financial reasons.
If you’re not chasing the sedentary lifestyle after retirement, becoming a home-based entrepreneur is something you should consider. This article will explain some of the benefits of owning a home-based business and provide some advice for getting started.
Why You Should Consider It
About half of new businesses fail within the first five years. You may be thinking, “That really doesn’t sell me on starting my own business.” However, many of these companies fail because they struggle to cover overhead costs, such as renting an office space, utilities, and insurance. Starting any business is challenging, but when you work from home, the start-up costs are lower. This means that you can test out a business idea before you invest a ton of money.
Another significant advantage of starting a home business is that there’s no commute, which means you can dedicate more time to working. Also, you have more flexibility with your work hours since you can do many tasks from a mobile phone, laptop, or tablet. And if the grandkids want to come over for an afternoon, you can walk away and spend the rest of the day soaking up all the snuggles you can handle.
Last but not least, if your home office is your primary place of business, you can often deduct some of your home’s expenses on your taxes. It is very important to know what they are, and regardless of which type of business you are running, there are likely many deductions you can take. Keep in mind, however, that the IRS limits your square footage if you take a standard deduction. If you plan to use more than 300 square feet, be prepared to justify how you use the rooms in your home.
What Your Business Should Be
Before you officially become a home-based entrepreneur, you have to figure out what kind of business you want to run. Do you want to sell goods, such as handmade clothing, crafts, or jewellery? It may be worth your time to look into platforms like Etsy and eBay. Do you want to provide a service? Years of experience probably means that you have knowledge and skills many people would pay for. For instance, you could become a consultant and help people work through problems and build their careers. Other ideas for services include:
- Travel tour guide: this is an ideal opportunity if you are still physically fit, enjoy talking to people, and prefer to keep moving
- Babysitting: you can advertise your services via platforms like Care.com or on local social media pages
- Pet sitting: a pet sitter either goes to other people’s homes to provide care for animals or brings dogs and cats into their own home when their owners are away
- Interior design: an interior designer might work with home builders, the general public, or realtors to create a stunning home
- Tutoring/lessons: you can choose to tutor online or in-person
- Freelance writing: a freelance writer provides services to large and small companies, and writing might include anything from a blog post to a company’s operations manual
- Security services: you can work in online security or for local companies as a loss prevention specialist
If none of these options sounds appealing, you still have many choices. Working in retail, waiting tables, and using your skills as a handyman are also viable options when you seek the flexibility that was unavailable during your working years.
Related Article – How to Start an Online Business from Home
Getting Your Website Up and Running
Whatever business you decide to start, you will need a website; it’s imperative these days. Most shoppers start their search for a product or service online. Even if you have rave reviews, if you do not have a website, many potential clients will keep scrolling to someone that does. Unfortunately, it is not enough to use a generic site builder these days. Your customers expect more.
Your website should be pleasing to the eye and easy to use. One of the foundations of a website is HTML code, which is present on every working site on the web. If you want to ensure your site runs efficiently, hiring a qualified HTML5 developer should be your first move. While it costs upfront, it will ultimately save you money (and a lot of time).
In addition to pleasing visuals, your website should be highly functional. If you sell a service, make sure you include an online shopping cart. You’ll need a security certificate also if you want to gain your customers’ trust so they are comfortable inputting their sensitive information into your website. If possible, avoid adding auto-play videos, and leave the annoying pop-up ads out of your website’s design.
Upwork HTML5 freelancers are solid choices for outsourcing your web development project. Ideally, HTML5 developers should be proficient in the most current HTML iteration. They should also be able to incorporate everything mentioned above into both the desktop and mobile versions of your website. Attempting to code your website by yourself can result in a time-consuming and frustrating experience. Hire a professional HTML developer, and you will have a professional website that impresses your audience and brings a solid ROI.
Related article – How to Start a Blog and Make Money From It
Starting a business from home can be ideal for those who plan to work after retirement. Take some time to consider all your options when deciding what kind of business to start, and remember that your start-up costs will be lower for a home-based company — so don’t be afraid to fail on your first attempt. Also, be sure to get the groundwork for your company’s website done by a professional HTML developer so that you can have an exceptional site that benefits your company.
Your golden years should be your best years, and working from the comfort of your own home can help make sure that happens.