The period of retirement is the best time to pursue one’s passion after the sacrifices made during active years of working. Since everything that has a beginning must have an end, retirees must have had ample time to think through and conclude on what businesses to venture into for posterity sake.
For retirees who are still agile and productive, here are some businesses they can venture into:
1. Leasing property: If you own properties, whether developed or not, you can start leasing them out for money. It’s is even more advisable to develop your properties and rent out. There will always be a need for housing and accommodation as it’s a basic human necessity; invest in it. You can also develop your property into a hotel, motel, event centre and the likes. However, you must thoroughly research what people are in need of.
2. Become a product distributor: You can be a distributor for food and provision items, building materials, clothes, electrical fittings, etc. Building materials, especially cement are also in high demand in Nigeria because of numerous building projects.
3. Be a trainer: Being retired doesn’t make all your knowledge and skills disappear. Becoming a trainer will afford you the opportunity of using your wealth of experience to train people on a wide range of skills. Getting started shouldn’t be hard. Just decide on a particular field you’re really skilled at and start training people. You can run the training from your home, or preferably organise outdoor training seminars.
4. Start a restaurant: Just like accommodation, food is important for survival. There will always be a market for food. So why not start a restaurant to cater to this need? You can also get a franchise, which saves you the stress of trying to make a name in the crowded industry. You can incorporate some local or foreign cuisine that’ll make you stand out. Don’t forget to hire smart workers who are customer-oriented, lively and hard-working.
5. Networking: So many networking businesses abound in Nigeria. You can make good use of the many options and opportunities available. If you browse the Internet, you’ll discover a good number of legit networking businesses that are enriching people. Following all necessary procedures and requirements; you are guaranteed to make a lot of cash from networking.
6. Become a consultant: As a retired citizen, you can consider a career in consulting. With your wealth of knowledge and years of experience in your field of interest, all you need is to build a good and strong clientele. You can also source for clients online and sign up for any open consulting schemes.
7. Laundry business: Starting up is pretty easy, simply carry out research on how to start a laundry business in Nigeria and the rest is history.
8. Outdoor catering services: If you’re skilled in cooking, you should probably consider going into an outdoor catering business. Advertise online, recruit clients among your social networks, in your neighbourhood and place of worship, if you have. Every other thing like hiring staff, acquiring cooking equipment and supplies will fall into place.
9. Daycare centre: With the need to make money for a comfortable lifestyle, many couples patronise daycare centres. Daycare relieves the burden of leaving your children in the hands of nannies or home helps who can be unpredictable. Turning your property to a standard daycare centre may not a bad idea since you’ll be getting alerts monthly.
10. Farming: Farming is one business that has stood the test of time. Fish farming, livestock farming, poultry, and other forms of farming is good business. Invest in good equipment, get workers and loans, and be attentive to government interventions.
Just weigh all the pros and cons of the aforementioned and you’re on your way to making lots of money.