So, you’re over 40 and you’d like to start a business. Excellent! There are no rules when it comes to starting a business over 40, but we have 5 startup business ideas we’ve found very popular with the more mature entrepreneur. Read on to get inspiration:
Cake making can be a very lucrative business, especially if you get good at it and can create some fancy designs. This will make your cakes all the more appealing! You could be commissioned to make wedding cakes, birthday cakes, cupcakes, baby shower cakes – just about any special occasion that calls for a slice of cake. You will likely want to do this at home, so it’s important your home is checked over and deemed hygienic and safe by the proper authorities. After registering a self employed, you can then legitimately start making and selling your cakes! You’ll need to spend a little on equipment and insurance, but there will be no overheads from home.
Running a Restaurant
Choosing to run a restaurant takes a little more skill, as you need to handle all aspects of the business, including marketing and finances. However, providing you handle these things properly, you could have a thriving business! There are equipment costs involved, for example; commercial chest freezers, food, cutlery, decoration, etc. You’ll also need to rent out your premises and get the proper insurance.
Making jewellery is a great hobby, and if you begin to make truly beautiful, unique pieces you could easily turn it into a business. There are many different ways you could hand make your jewellery; by using wire craft, using beads, wood, and more! All it takes is a little know how, so get on Youtube to begin watching tutorials and start practicing.
Online Retail Business
Just about anybody can start an online retail business, especially when using platforms like eBay and Gumtree. Simply begin to build up a profile by selling items you no longer want or need to get good feedback (make sure the items you sell are quality and you package them well), and then you can begin buying items wholesale or finding items at a bargain price and selling them for more on your profile. Remember, eBay do charge when you make a sale, and there are p&p fees to think about.
Gardening is a great hobby for the over 40’s that could easily turn into a business idea after a lot of practice. There are many different areas you can specialise in too; either the pruning and planting side of things, or the landscaping side of things. You’ll need insurance, and some equipment depending on the kind of gardening you plan on specialising in.
Of course, these businesses are simply ideas. You can start any business at all if you really want to! Why not design and sell clothes? Or perhaps you could start your very own boot camp for people who want to change their lives? Whatever you decide, make sure you have a solid business plan, funds, and the right attitude – that way, you can’t fail!