23 Business Ideas For Retirees [2024]
Retirement opens the door to new opportunities beyond traditional leisure activities. With your years of experience and a lifetime of skills, you could explore a variety of business ideas that fit your interests and lifestyle. Whether you're looking to supplement your income or stay actively engaged, the possibilities for 2024 are diverse and promising.
You could start a consulting business, leveraging your expertise to help others navigate their careers or businesses. If you're passionate about a hobby, you might consider turning it into a profitable venture, like an online store or a workshop. Teaching and mentoring can also be rewarding, offering you the chance to share your knowledge in fields like finance, art, or technology.
The key is to find something that not only aligns with your interests but also offers flexibility and satisfaction. Each business idea presents a unique way for you to stay engaged, make a difference, and perhaps even discover a new passion. Dive into this article to explore practical and fulfilling business ideas tailored for retirees in 2024.
For each business idea, we'll show you real-world examples of other retiree businesses to help you see what it takes.
Here's the full list:
1. Start a real estate investment firm ($398K/month)
Starting a real estate investment firm offers retirees an excellent opportunity to supplement their income, make extra money, or even start a new business venture. This involves buying, managing, and selling real estate assets like homes, commercial buildings, and vacant land to generate profit. With the potential for properties to appreciate over time and rental properties providing steady income streams, the real estate market presents an attractive financial prospect for those looking to leverage their experience and investment skills in their retirement years. For additional insights, you can visit real estate investment firm success stories provided by Starter Story.
Why start a real estate investment firm?
- Real estate investments offer substantial profit potential through property appreciation and rentals.
- This business allows you to effectively use your accumulated experience and skills in property management.
- You could create a stable income stream while retaining the freedom to manage your investment at your own pace.
How much you can make: $10,000 — $1,500,000/month
How long does it take to build: 210 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
2. Start a stock investing business ($30.3K/month)
Navigating the world of stock investing can be a lucrative venture if you have a knack for financial markets. A stock investing business revolves around buying and selling stocks to generate profit. It’s all about analyzing market trends, making informed decisions, and executing trades with precision. For retirees with an interest in finance and numbers, this business offers an exciting avenue to turn passion into profit while potentially enriching their financial future.
If you're intrigued by the complexities of market movements and enjoy continuous learning, this might be the venture for you. Educational resources and trading platforms can equip you with the necessary tools and knowledge. By starting a stock investing business, you position yourself in a domain with potential for high returns and the thrill of strategic decision-making.
Why start a stock investing business?
- High earning potential: With the right strategy and analysis, you could achieve impressive financial returns.
- Flexibility and autonomy: You could work from anywhere and set your own hours, perfect for a retiree's lifestyle.
- Engaging and challenging: Constantly tracking market trends and making informed decisions keep the business engaging and mentally stimulating.
For more insights and tips, check out this useful stock investing business guide.
How much you can make: $4,000 — $160,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 90 days (?)
Ticker Nerd is a monthly subscription service for investors that surfaces and analyzes trending stocks before the hype train arrives, and now has $4.5k in monthly recurring revenue from its newsletter without spending a single dollar on advertising, having validated the business via subreddits and organic Product Hunt launch strategy.
3. Start a niche investment platform ($167K/month)
Starting a niche investment platform is an attractive business idea for retirees looking to supplement their income or pursue an entrepreneurial endeavor. You could leverage modern technology to create a specialized online exchange that caters to investors interested in alternative asset classes, such as collectibles, cryptocurrencies, real estate, or athletic prospects. This business model allows you to build a dedicated user base while generating recurring revenue through transaction fees and premium subscriptions. For more inspiration, you can explore success stories on niche investment platforms.
Why consider launching a niche investment platform?
- Unique market opportunities. A niche platform targets specialized investors, which can lead to a more engaged and dedicated user base.
- Recurring revenue potential. Transaction fees and premium subscriptions offer continuous income streams.
- Asset diversification. By focusing on alternative assets, you cater to those seeking investment security in volatile times.
How much you can make: $2,000 — $600,000/month
How long does it take to build: 180 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
4. Start a podcast ($97.9K/month)
Starting a podcast as a retiree allows you to share your wealth of knowledge and passions with a global audience while creating a new stream of income. With relatively low startup costs and flexible scheduling, podcasting provides an accessible and enjoyable way to supplement your retirement income. By selecting a niche you’re passionate about and leveraging social media to promote your content, you could attract a loyal following and even draw sponsors or advertisers to your show. For more detailed insights and startup tips, explore this page on podcast profitability.
Why start a podcast?
- You can share your lifelong passions and expertise with a global audience.
- Podcasting offers flexibility, allowing you to create content on your own schedule.
- With minimal startup costs, podcasting is an affordable way to launch a new business venture.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
5. Start an affiliate marketing business ($77.5K/month)
Starting an affiliate marketing business as a retiree could offer you the opportunity to supplement your income while enjoying the flexibility of working from anywhere. This business model involves promoting other companies' products and earning a commission on each sale made through your referrals. It's a low-cost venture that requires minimal upfront investment, making it ideal for those looking to generate passive income over the long term. If you have an interest in specific niches, such as health and wellness or technology, you could focus your efforts on products that you are passionate about.
To get started, research and identify reliable brands and products you would like to promote. This could range from partnering with an eCommerce store to marketing products from specific manufacturers for a commission. For additional insights on launching an affiliate marketing business, explore how much you could make at Starter Story.
Why start an affiliate marketing business?
- You could generate passive income with minimal upfront investment, allowing your initial efforts to pay off in the long term.
- It offers flexibility in terms of working hours and location, perfect for fitting around your retirement lifestyle.
- The potential to earn commissions by promoting products you are passionate about adds an element of personal satisfaction.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
6. Start an online course sales business ($85K/month)
Starting an online course sales business is an excellent way to supplement your income as a retiree. You could monetize the skills you’ve cultivated over your lifetime, turning your expertise in areas like music, cooking, coding, or any specialized knowledge into a profitable venture. The e-learning market is booming, and by creating high-quality online courses, you could tap into a growing demand while sharing your passion with a worldwide audience.
Why starting an online course sales business?
- It offers long-term passive income. Once your course is created and uploaded, it could generate revenue for years with minimal ongoing effort.
- Low investment and flexibility. You could work from the comfort of your home, setting your own pace and schedule, making it perfect for retirement.
- Leverage your lifelong expertise. Create a course around something you already know and love, turning years of experience into a valuable educational resource for others.
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
7. Start a niche blog ($31.5K/month)
Starting a niche blog could be a rewarding way for retirees to supplement their income while engaging in a passion they love. Identifying a profitable and underserved niche, such as cooking or fashion, allows you to share your expertise with a focused audience. Successful niche blogs monetize through affiliate links, collaborations with brands, and by growing a YouTube channel or speaking at events.
Why consider starting a niche blog?
- You could connect deeply with a passionate online community, sharing insights and expertise honed over a lifetime.
- It’s a flexible venture, allowing you to work from home and on your own schedule.
- With low startup costs, you have the potential for high returns if you create engaging and valuable content.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
8. Start a niche website ($107K/month)
Are you looking for a focused online business that offers both creative freedom and potential revenue? Consider building a niche website. A niche website centers around a specialized topic, serving a dedicated audience with targeted content and products. This could be an excellent venture for retirees, providing a platform to share your passions while generating an income stream.
Starting this venture involves selecting a niche you're passionate about and knowledgeable in, creating compelling content, and driving traffic to your site. Monetization options are varied—whether through affiliate marketing, ad placements, or selling digital products, your specialized content can generate income. A niche website can become a reliable source of passive income once established. If you've got a specific interest and the drive to dive deep, building a niche website could be your next rewarding project. For inspiration, you can check out some niche website success stories on Starter Story.
Why start a niche website?
- You can monetize your passions. Earn money by sharing what you love and know best.
- Flexible work schedule. Manage your website on your own time, making it ideal for retirees.
- Low startup costs. Starting a niche website doesn't require a hefty investment, just your time and creativity.
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
9. Start an ecommerce reselling business ($83.3K/month)
Starting an ecommerce reselling business as a retiree could be an ideal option to supplement your income and make extra money without the need for significant upfront investment. By purchasing products to resell online, you can leverage your experience and skills to create a profitable side business or even a full-time venture. Plus, the flexibility of ecommerce means you can start small, focusing on social media platforms before scaling up with a dedicated website as your business grows.
You won’t need to worry about production costs, which makes it a low-risk opportunity. Ready to get started? Check out some inspiring success stories to see how others have succeeded in ecommerce reselling.
Why start an ecommerce reselling business?
- You could manage your business from the comfort of your home, giving you the flexibility to work at your own pace.
- It'll allow you to tap into the vast potential of online marketplaces without the hassle of product creation.
- As your business grows, it could provide a steady stream of supplemental income, enriching your retirement.
How much you can make: $4,000 — $150,000/month
How much does it cost to start: $2,999 (?)
How long does it take to build: 75 days (?)
Empyre Off-Road, an e-commerce business founded by Greg Shuey which sells aftermarket parts for Toyota Tacomas, Tundras, and 4Runners, generated approximately $100,000 a month in revenue and was able to expand its product offering, focusing on content marketing, email marketing campaigns, and organic social media to attract and retain customers.
10. Start a dropshipping business ($414K/month)
Starting a dropshipping business could be an excellent way to supplement your income as a retiree. It requires minimal upfront investment and eliminates the hassle of managing inventory, making it ideal for those looking to start a low-maintenance business. By leveraging platforms like Shopify or WooCommerce to set up an online store, you could handpick a niche that interests you and collaborate with suppliers on AliExpress to handle order fulfillment.
Why consider starting a dropshipping business?
- Limited financial risk: You’ll only purchase products once they’ve been sold, reducing the need for substantial upfront capital.
- Flexible and location-independent: Manage your business from anywhere, allowing you to travel or spend time with loved ones.
- Focus on what you love: Spend your time on marketing and customer service, exploring areas you’re passionate about rather than operational headaches.
For more on how to get your dropshipping business off the ground, check out these dropshipping tips and success stories.
How much you can make: $6,000 — $3,000,000/month
How much does it cost to start: $8,500 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
11. Start a stock photography business ($14.6K/month)
Starting a stock photography business could be an excellent way for retirees to supplement their income while indulging in a creative passion. As a retiree, you could leverage the freedom and flexibility that comes with this stage of life to build an impressive portfolio. By investing in quality photography gear and honing your skills, you could sell your high-quality images to businesses for marketing purposes, thereby earning a passive income.
Why starting a stock photography business?
- It offers flexible working hours, allowing you to enjoy your retirement while still generating income.
- You could turn a hobby into a profitable venture, making money doing something you love.
- The demand for stock photos is ever-growing, providing ample opportunities to sell your images online.
For more insights, check out the profitability of starting a stock photography business.
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
12. Start a social event catering business
If you’re a retiree with a passion for culinary artistry and enjoy socializing, starting a social event catering business could be an excellent way to supplement your income or even build a full-fledged business. This venture involves creating custom menus, preparing high-quality meals, and managing the logistics for various social gatherings, including weddings, parties, and corporate events. Each event provides a unique opportunity to showcase your culinary skills and organizational prowess, offering both creative satisfaction and financial rewards.
Just imagine turning your kitchen into the heart of an engaging business venture that not only lets you share your culinary talents but also keeps you socially active. With dedication and attention to detail, a social event catering business could offer a fulfilling and multifaceted career in your golden years. For further guidance on starting a social event catering business, you can explore marketing ideas here.
Why start a social event catering business?
- You could use your culinary skills to create memorable experiences for people.
- A catering business allows you to stay socially engaged and meet new people.
- It’s a flexible business where you can choose your level of involvement, making it ideal for retirees.
How much does it cost to start: $1,000 (?)
13. Print on demand business ($411K/month)
Starting a print-on-demand business makes sense for retirees seeking to supplement their income with minimal upfront costs. You could sell customized products like apparel, home goods, and phone cases without the need to maintain inventory. By using online marketplaces such as Amazon, eBay, and Etsy, you could reach a global audience and enjoy the flexibility of operating from the comfort of your home. Learn more about the pros and cons of a print-on-demand business.
Why start a print-on-demand business? - Provides flexibility to work from anywhere, allowing you to enjoy your retirement while earning extra money. - Minimal startup costs make it a low-risk venture, ideal for retirees on a fixed budget. - Opportunity to monetize your creativity by designing unique and trendy products for a global market.
How much you can make: $200 — $3,000,000/month
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
14. Start a wallet brand ($28.8K/month)
Starting a wallet brand as a retiree presents an excellent opportunity to supplement your income and leverage the growing market. The wallet market is experiencing robust growth, with a CAGR of 8.87%, and is projected to reach $8.78 billion in a few years. By conducting thorough market research and identifying gaps in the market, you could develop a unique wallet design that appeals to your target customers, positioning yourself for success in this expanding industry.
To dive into this venture, you could start with a business plan that includes detailed market research, a study of your competition, and design prototypes. By tapping into your creativity and entrepreneurial spirit, you could build a brand that not only fulfills a market need but also brings you personal satisfaction and financial benefits.
Why start a wallet brand?
- The market is expanding, providing a lucrative opportunity for new entrants.
- Designing unique and functional wallets can be a fulfilling creative outlet.
- This venture allows for scalability, offering the potential to grow from a side business to a major income source.
For more insights, check out Starter Story’s wallet brand success stories.
How much you can make: $200 — $60,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 30 days (?)
Everyman, an everyday carry eCommerce company, has been generating around $60,000 per month in revenue after completing a brand and website revamp last year, with an average of 35% returning customers who spend $50 or more on the site.
15. Start a YouTube channel ($72.1K/month)
Have a knack for creating compelling video content? Starting a YouTube channel might be your next big move. A YouTube channel offers you the opportunity to share your expertise, passions, or hobbies while potentially earning revenue through ads, sponsorships, and merchandise. Your channel can focus on anything from how-to guides and vlogs to educational content and entertainment. It's a versatile platform where creativity meets opportunity.
Why start a YouTube channel?
- You could monetize your hobbies and interests by sharing content on a global platform.
- With flexible working hours, you can manage your channel at your own pace, perfect for a retiree’s lifestyle.
- Engaging with your audience and sharing your wisdom can be both fulfilling and financially rewarding.
Looking to dive deeper into what it takes to run a successful YouTube channel? Check out these success stories here.
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
16. Develop an online survey tool ($304K/month)
Starting an online survey tool business as a retiree could be a lucrative way to supplement your income and keep you intellectually engaged. Businesses today are increasingly leveraging online surveys to gather essential customer feedback, making this a growing market with high demand. Tools like Typeform have demonstrated significant success, showing the potential for robust revenue as more businesses seek efficient ways to collect and analyze data.
Why consider developing an online survey tool?
- There’s a growing demand. With the importance of data-driven decisions, businesses are keen to invest in effective survey tools.
- Low overhead costs. Developing and maintaining an online survey platform can be managed with minimal expenses, providing a higher profit margin.
- Intellectual engagement. Building and refining a survey tool can keep your mind active and engaged, combining both creativity and technical skills.
For more insights on starting an online survey tool business, check out our in-depth success stories.
How much you can make: $40 — $1,600,000/month
How long does it take to build: 180 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
17. Start a cold email service business ($170K/month)
As a retiree, starting a cold email service business provides an excellent opportunity to supplement your income while leveraging your strategic mindset and communication skills. You could help businesses reach new clients through well-crafted, targeted email campaigns, offering an invaluable service in today’s competitive market. With some know-how in email marketing tools and the ability to analyze metrics like open rates and conversions, this venture can be both rewarding and scalable.
The business model is straightforward, and by beginning with small businesses needing lead generation, you could grow your clientele as your success stories accumulate. You will offer expertise in identifying client needs, researching target audiences, and delivering engaging emails—all from the comfort of your home.
You can check out more details on this topic here.
Why consider launching a cold email service business?
- It has low startup costs, requiring primarily your time and a few software tools.
- You can work from anywhere, making it a flexible and convenient option for retirees.
- The demand for lead generation and client outreach services is consistent, providing more stability than many other markets.
How much you can make: $4,000 — $450,000/month
How much does it cost to start: $200 (?)
How long does it take to build: 35 days (?)
GMass, an email marketing platform that allows users to send cold emails and email marketing campaigns with Gmail, has attracted over 500,000 user signups, including major tech companies like Uber, LinkedIn, and Google, and now generates over $200K in monthly recurring revenue through a successful content marketing strategy and focused ad spend.
18. Start a SEO & lead generation service ($60K/month)
Starting a SEO & lead generation service as a retiree could be an excellent way to supplement your income and stay active in the entrepreneurial world. With your wealth of experience and possibly existing professional network, you could help businesses attract prospects and convert them into loyal customers, all while working from the comfort of your home. By learning the fundamentals of SEO and lead generation, you could build a scalable business that leverages digital marketing strategies to drive results for clients.
Why start a SEO & lead generation service?
- You could work flexibly from home, making it ideal for maintaining a work-life balance in retirement.
- The demand for digital marketing services is consistently high, offering a lucrative opportunity.
- You could utilize and monetize your existing experience and business network.
How much you can make: $8,000 — $200,000/month
How much does it cost to start: $3,750 (?)
How long does it take to build: 90 days (?)
A link building company co-founded by Justas Markus has grown to make an average of $35k per month in recurring revenue with a focus on delivering high-quality services through manual processes and focusing on fewer markets.
19. Start a social media automation business ($139K/month)
Imagine managing multiple social media accounts effortlessly while driving engagement and growth. That’s the beauty of a social media automation business, where you could create tools and services to schedule posts, automate interactions, and analyze data across various platforms. From small businesses to influencers, clients pay you to save them time and enhance their social media presence, an appealing prospect for tech-savvy retirees who enjoy staying updated on the latest trends.
With the growing need for consistent and strategic social media engagement, the demand for automation tools is on the rise. This business requires developing or integrating software solutions and building relationships with clients to tailor services to their needs. For those with a knack for technology and marketing, starting a social media automation business can be both a lucrative and fulfilling endeavor. Discover more about the profitability of this venture here.
Why start a social media automation business?
- Low operational costs: With the right software, you minimize expenses, making it a financially viable option.
- Flexibility: You could work from anywhere, perfect for retirees who value their freedom.
- Growing demand: Businesses and influencers continuously seek efficient ways to manage their social media, ensuring a steady client base.
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
20. Create an AI writing tool ($255K/month)
As a retiree, starting a business with an AI writing tool could be a lucrative and fulfilling way to supplement your income. This business leverages cutting-edge technology to create a digital tool that automates content generation, making it accurate, engaging, and time-efficient. By catering to the growing demand for quality content, you could transform and simplify the writing process for businesses, bloggers, and students alike, all from the comfort of your home.
By developing an AI writing tool, you are embedding artificial intelligence into the core of content creation, offering advantages that traditional methods can't match. Automated, error-free content generation is now just a click away, opening up new avenues for productivity and innovation. For those looking to leave their mark on the digital world, this business idea is both futuristic and fundamentally necessary in today's fast-paced, content-driven environment. For more insights and success stories, you can check out this link AI Writing Tool Success Stories.
Why start an AI writing tool?
- Provides a cutting-edge solution in high demand, easing workloads for writers globally.
- Requires minimal physical effort, making it perfect for retirees with more time to experiment and learn.
- Offers potential for passive income with a scalable, automated tool that can continually generate profit.
How much you can make: $4,000 — $1,000,000/month
How long does it take to build: 52 days (?)
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
21. Start an instagram tools ($27.3K/month)
For retirees looking to diversify their income streams, developing Instagram tools presents a unique and rewarding business opportunity. With Instagram's expansive user base and the continuous evolution of social media trends, there’s a consistent demand for solutions that simplify and optimize the platform's functionalities. By creating tools that assist with scheduling posts, analyzing engagement, automating interactions, and enhancing bio links, you could cater to businesses and influencers seeking efficiency and growth.
Embarking on this venture means staying ahead of social media trends, engaging in continuous development to keep up with platform changes, and effectively marketing your products to the right audience. While it requires technical expertise and ongoing updates, the increasing demand for Instagram management tools makes this a potentially lucrative and satisfying business endeavor. You can find more details on what it takes to start this business here.
Why consider developing Instagram tools?
- Expansive market potential: Instagram's vast user base ensures a steady demand for innovative tools that enhance user experience.
- Flexible work schedule: You could work from anywhere, making it ideal for retirees who want to maintain a flexible lifestyle.
- Innovative contribution: By developing useful tools, you could significantly impact how businesses and influencers manage their Instagram presence.
How much you can make: $2,000 — $50,000/month
How long does it take to build: 7 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
22. Start a health and wellness app ($108K/month)
Embarking on the journey to create a health and wellness app can be a rewarding business venture for retirees. This type of business allows you to leverage your experience and passion for healthy living to help others achieve their wellness goals. Imagine building a digital tool that offers personalized fitness routines, nutrition plans, mental well-being exercises, and progress tracking—all in one place.
Starting a health and wellness app involves market research, collaboration with health experts, app development, and effective marketing strategies. While the initial setup requires effort, the potential to positively impact lives and tap into a growing market makes it a compelling venture. If you are passionate about health and technology, this could be your path to making a meaningful contribution while building a thriving business. For more detailed insights on startup costs, you can read this guide on health and wellness app startup costs.
Why consider launching a health and wellness app?
- You could fulfill a crucial role in improving people's lives by providing accessible health resources.
- There's a growing market for wellness apps, offering significant potential for financial success.
- You’ll have the opportunity to combine passion and expertise in health, fitness, and technology into a single fulfilling venture.
How much you can make: $600 — $300,000/month
How long does it take to build: 200 days (?)
Founder and CEO of SelfDecode, Joe Cohen, explains how his company helps people discover personalized diet, supplement, and lifestyle recommendations based on DNA and lab tests; generating about $2.7 million in revenue over the past year and raising $8 million in a crowdfunding campaign, SelfDecode provides personalized health recommendations prioritized on unique genetic variants, marking the future of healthcare.
23. Create a mobile app ($70.3K/month)
Ever thought about turning that brilliant idea into a mobile app? It’s more feasible than you might think. Developing a mobile app involves creating a software application that can run on smartphones and tablets, catering to various user needs, from productivity tools to gaming.
Starting a mobile app business requires a clear vision, basic coding knowledge, or the ability to hire a skilled developer. Your primary tasks will include planning the user experience, designing engaging interfaces, and testing for functionality and bugs. Marketing your app effectively is crucial to attract users and achieve downloads. With dedication and the right strategy, your app could gain significant traction and generate substantial revenue.
For more information, you can check out these success stories.
Why create a mobile app?
- Mobile apps are a part of everyday life and offer immense opportunities for innovative solutions.
- If your idea solves a problem or entertains, it has the potential to reach millions and generate significant income.
- Flexibility in development allows you to work at your own pace and outsource specific tasks if needed.
How much you can make: $1 — $500,000/month
How long does it take to build: 180 days (?)
BACH, an app that plans and books bachelorette parties, has grown from $0 to >$1M net revenue run rate in less than 6 months, gained over 100,000 users in their first 60 days, and has over 40,000 parties using the app this month.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
