30 Profitable Business Ideas For People Over 60 Years Old (2024)
Are you looking for the best business opportunities for people over 60 years?
Starting a business in your 60's can provide a sense of purpose, financial stability, and contribute to the overall well-being of your community.
There are lucrative business ideas for people over 60, ranging from consulting and coaching services to healthcare and home-based businesses.
In this article, we’ve meticulously curated a selection of 30 top business ideas for people over 60 years old.
Here they are:
1. Start a crafts business
If you're interested in starting a crafts business begin by gathering the necessary materials, tools, and a dedicated workspace to create your unique products.
In addition to crafting expertise, it’s important to possess basic business skills such as marketing, pricing, and customer service.
To sell your items, you can participate in local craft fairs take advantage of online platforms like Etsy, or create your own website.
It’s crucial to keep track of your expenses and profits to ensure that you’re making a profit. Nevertheless, running a crafts business can be a fulfilling and creative way to channel your passion for making things.
How much you can make: $600 — $1,200/month
How much does it cost to start: $5,500 (?)
How long does it take to build: 180 days (?)
2. Start a dog walking business
Are you a dog lover? If so, you can turn your passion for animals into a profitable side hustle that allows you to earn extra income for your mortgage, a vacation, or paying off student loans.
As a dog walker, sitter, or boarder, you can earn an average annual income of between $10,000 and $30,000 by offering your services to dog owners in need of a caregiver for their furry friends.
To get started, register on a credible dog-walking app and create a compelling profile that showcases your experience, skills, and love for dogs.
With your dedication and expertise, you can help dog owners ensure their pets receive the care and attention they need while building a thriving business that fulfills your passion for animals.
How much you can make: $15,000 — $54,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
3. Become a podcaster
A podcast business is a type of enterprise that involves conceptualizing, producing, and disseminating a branded audio show focused on a niche educational or entertainment topic.
As a podcaster, you are responsible for coming up with episode ideas, outlining talking points, and structuring interviews that cater to your show’s audience and niche. You need to keep your listeners engaged and coming back for more.
Podcasting offers flexibility when it comes to revenue models, allowing you to choose between advertising-based or subscriber-only content. This, in turn, presents scalable profit potential as you build your listenership.
For entrepreneurs who are on the lookout for creative freedom and low startup costs, launching podcast programming offers an innovative way to monetize their voices and viewpoints while tapping into a billion-dollar industry.
How much you can make: $400 — $5,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
4. Start a home building company
The global construction industry is expected to maintain steady growth over the next years. Estimates show that the sector will reach 14.4 trillion in the next decade.
With the increasing population, demand for building new homes continues to grow steadily. With more jobs available, starting a construction company can be a lucrative business. To start a construction company, register the company and acquire all permits and licenses to run a construction company.
How much you can make: $500,000/month
How long does it take to build: 257 days (?)
5. Start an auctioneer business
If you are itching to start a business but can’t seem to gather enough startup funds, you might want to explore the idea of setting up an auctioneering company online.
This popular and lucrative business model allows you to leverage the power of online platforms to connect buyers and sellers from across the globe.
With minimal overhead costs, you can easily set up your own auctioning business and get the word out through social media platforms like Reddit and Facebook.
This way, you can reach a wider audience and grow your business faster than ever before.
How much you can make: $100,000/month
6. Start a life coaching business
Life coach helps people in various areas of their lives using a combination of emotional intelligence, professional knowledge, and experience.
Life coaching is a popular industry worth over $2.85 billion, and the number of life coaches has increased by 33% between 2015-2019.
This is a very profitable business and can be started at virtually no cost. You’ll need a computer, a high-speed Internet connection, and a LinkedIn account to start. Then, you can begin coaching part-time in your spare time until you build up your clientele.
How much you can make: $100 — $120,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Explore 18 Life Coaching Business Success Stories
7. Start a book club
A book club consists of several people who read and talk about the books based on the topic or an agreed reading list.
Setting up your book club can be a great way to enjoy books and meet new people.
More importantly, a book club is a well-paying side hustle idea. Therefore, figure out who you invite to your book club and define the purpose.
Do you want to learn something new, or do you just want to bond with other book lovers? Having a defined purpose helps you reach like-minded people to keep the book club close-knit.
How much you can make: $4,000 — $90,000/month
How much does it cost to start: $7,550 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 5 hours/week
Explore 4 Book Club Success Stories
8. Become an author
Becoming an author is an exciting journey that involves creating and publishing written works, such as books, novels, or articles that reflect one’s ideas, stories, or expertise.
You can establish yourself through traditional publishing routes or self-publishing, utilizing your literary skills to connect with readers and potentially earn revenue from book sales.
Traditional publishing involves submitting a manuscript to a publishing house or literary agent who will review and decide if it is suitable for publication.
On the other hand, self-publishing gives authors complete control over the publishing process, allowing them to publish their work independently and market it on their own.
You can generate income through book sales, royalties, and opportunities such as speaking engagements or workshops.
How much you can make: $200 — $1,500,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Explore 19 Author Success Stories
9. Start a camping brand
A camping gear and apparel brand caters to outdoor adventure enthusiasts seeking quality and performance.
As an camping brand founder, you oversee the design and development of tents, packs, headlamps, and accessories tailored for campers, hikers, and travelers.
Focusing on innovative technologies and sustainable materials provides an eco-conscious edge.
Whether debuting a direct-to-consumer model or wholesale deal, building a camping goods company from the ground up transforms passion into profits.
For those seeking to make their mark on the thriving outdoor recreation industry, a startup brand allows you to carve your niche by equipping others to comfortably enjoy nature no matter the destination.
How much you can make: $1,350 — $2,000/month
How much does it cost to start: $1,700 (?)
How long does it take to build: 60 days (?)
10. Start a travel consulting business
Many people dream of traveling the world. Starting a travel consulting business is an excellent way to make a passive income, explore different parts of the world, and help others do the same.
As a travel consultant, you will provide advice to clients on various aspects of travel, including destinations, airfare, accommodations, and activities.
The objective is to assist tourists and travelers in planning personalized vacations, offer travel advice, and provide end-to-end travel arrangements for a fee.
By making use of industry knowledge and relationships with hotels, airlines, and destination experts, travel consultants can save their clients time and effort in designing their dream trips.
How much you can make: $20,000 — $1,500,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 90 days (?)
Explore 5 Travel Consulting Business Success Stories
11. Become an Airbnb host
If you are interested in becoming an Airbnb host, the first step is to create a listing for your property or a portion of it on the Airbnb platform.
This will allow travelers from all over the world to rent your space and enjoy a personalized and unique accommodation experience.
By creating a welcoming atmosphere and providing excellent service to your guests, you can enhance your profile and attract even more visitors to your property.
With the potential to earn a steady stream of passive income, becoming an Airbnb host can be an excellent way to monetize your property.
How much you can make: $35,000 — $270,000/month
How long does it take to build: 215 days (?)
12. Start a tiny house building business
People love living in small spaces. They're affordable and easy to maintain. Starting a tiny house-building business is a great way to help people and make money. You need to be licensed and insured to work in the state you live in, and you will also need a business license. Additionally, you will also have to research how much it costs to build a tiny house as well as what materials are needed for the project.
Tiny houses are becoming increasingly popular, offering a unique opportunity for you to get involved in the construction industry. The tiny homes industry is expected to grow to 3.57B by 2026.
How much you can make: $295,000 — $10,000,000/month
How long does it take to build: 700 days (?)
13. Start a community training and mentorship business
A community training and mentorship business involves developing and facilitating personal development programs and workshops tailored for underserved groups.
As an entrepreneurial founder, you design a curriculum covering career readiness, financial literacy, and life skills that empower your target communities.
With flexibility for in-person or digital delivery methods, building an impactful training program allows creators to uplift and maximize human potential.
For aspiring educators and coaches seeking a social enterprise model, launching community-focused classes presents accessibility alongside scalable profit potential earned by unlocking student success.
How much you can make: $1,000 — $50,000/month
How much does it cost to start: $1,200 (?)
How long does it take to build: 57 days (?)
Explore 7 Community Training And Mentorship Business Success Stories
14. Start an in-home senior care service
In-home senior care services allow senior clients to live their everyday life in the comfort of their own homes.
Experienced caregivers typically customize their services based on their client’s needs - which is why seniors and families prefer this type of service, even if it costs more than a typical nursing home.
There are several different types of home care you can offer, a few being:
- Personal care services: This type of service helps clients with everyday necessities, such as grooming, bathing, dressing, and overall hygiene
- Nurse-directed care: This type of care refers to caretakers managing medication, wounds, and the overall health and well-being of the client
- Meal & Food Prep: This type of care helps prepare nutritious meals and go grocery shopping
- Transportation: Rides to the library, salon, grocery store, doctor’s office, etc.
The price you can charge depends on where you live and your experience, but this ranges anywhere from $18/hour-$40/hour.
The significant part about starting an in-home senior care business is that you do not need formal education or medical training. You can build a successful home senior care business if you have the necessary skills to do this job.
How much you can make: $250,000/month
How long does it take to build: 150 days (?)
15. Start a recruiting agency
The global online recruitment market size was $29B in 2019 and is projected to reach $43B by 2027.
The best way to assess the success of a Recruiting Agency is to review what their clients say about them and the results achieved for those clients.
As a recruiter, you dream of landing your first client, but once you do, you realize it’s only the start of what you hope will be a successful business. Have you ever wondered how to start a recruiting agency business? There’s so much you can learn from books, but nothing beats getting real-world experience.
How much you can make: $100 — $320,000/month
How long does it take to build: 90 days (?)
Explore 11 Recruiting Agency Success Stories
16. Start a handmade goods business
A handmade craft business entails selling own-crafted products on online platforms like Alibaba, Etsy, an independent website, or social media.
To succeed in selling handmade goods, you'll need solid creative skills. Your creativity can help you build a strong brand.
And with online marketplaces, handmade shopping has become a popular trend.
In recent years, consumers worldwide have shown their support of independent businesses and entrepreneurs, especially those venturing into the handmade goods business.
How much you can make: $200 — $150,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 92 days (?)
Explore 12 Handmade Goods Business Success Stories
17. Start an event planning business
Event planners handle different tasks related to making the business a success. Some of the event planner’s responsibilities include:
- Conducting research
- Creating the event design
- Finding an ideal site
- Arranging for food, décor, and entertainment
- Planning logistics to and from the event
- Sending invitations
- Supervising at the site etc
To start this business on a budget, begin by honing your organizational and communication skills.
Next, create a detailed business plan outlining your services, target market, and pricing structure.
Utilize free or low-cost online tools for marketing, and consider starting small by offering services for smaller events before expanding your business as you gain experience and resources.
How much you can make: $20,000 — $500,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Explore 9 Event Planning Business Success Stories
18. Start a Backyard Plant Nursery
Do you have a gardening hobby and want to turn your passion into a profitable business with a minimum entry barrier?
Starting a backyard plant nursery is relatively easy, and the financial benefits can be rewarding. The secret to maximizing your profitability is specializing in plants that are in high demand, like vegetables and flowers.
To start, you can visit the nearby retail nurseries for seedlings and see what they stock and retail. To keep the startup cost low, consider using locally available materials.
How much you can make: $5,000/month
19. Start a lawn maintenance business
A lawn maintenance business involves providing regular upkeep services for both residential and commercial clients’ outdoor green spaces.
As a lawn maintenance expert, you specialize in various tasks such as mowing, trimming, edging, fertilization, and weed control.
You can customize your services based on the size of the property and landscaping needs, which helps you to build a loyal client base and enhance the curb appeal of the neighborhood season after season.
If you love working outdoors and dream of becoming an entrepreneur, starting a lawn care venture can offer you an opportunity to turn your passion into profits while enjoying the flexibility to set your own schedule.
How much you can make: $375,000/month
How long does it take to build: 90 days (?)
20. Start an artificial plants business
Artificial flowers are commonly used for décor at home, offices, and during events.
Nowadays, event organizers, homeowners, and businesses largely prefer artificial flowers over natural flowers as they are long-lasting and available in different colors and textures.
With the growing trend of indoor and outdoor decoration across the globe, starting an artificial flowers business can be a lucrative business opportunity. Thus, if you are interested in starting a florist business, you may consider artificial flowers a potential business opportunity.
How much you can make: $50,000/month
How much does it cost to start: $300 (?)
21. Start a sporting goods rental
With the latest outdoor activities and wellness trends, sportswear rental could be the next big business opportunity.
For the people who only participate in sports activities infrequently, renting sporting goods is the best option. Successful sporting goods rental businesses can profit from this growing trend.
If you are starting a sporting goods rental business, research the market and find out who potential customers shall be. Understand their requirements before investing in sporting goods.
How much you can make: $300,000/month
How long does it take to build: 180 days (?)
22. Start a RV rental website
An RV rental website business involves operating an online platform that connects RV owners to travelers seeking camper rentals for their vacations and outdoor adventures.
As an entrepreneurial founder, you develop a peer-to-peer marketplace that allows RV owners to earn income by listing their vehicles when not in use.
With the flexibility to take a commission on bookings, building an RV rental site can provide scalable profit as the travel industry continues growing post-pandemic.
For tech-savvy entrepreneurs, launching an Airbnb-style booking platform specific to camper conversions presents an opportunity to stake a claim in the evolving rental space by catering to flexible travel freedom seekers.
How much you can make: $150,000/month
How long does it take to build: 30 days (?)
23. Start a party rental business
A party rental business helps people get the products or the services they need to make their party a fun-filled event.
Party rental businesses can include:
- Photo booth rental
- Renting wedding clothes
- Party boat rental
- Sound equipment rental
- Outdoor equipment rental
- Cake structure rental
To start a party rental business, begin with what you know much better. Then as you gain experience, you may diversify to renting other party accessories or partner with experts in different fields.
How much you can make: $3,500 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
Explore 5 Party Rental Business Success Stories
24. Become a music tutor
Are you passionate about music or looking for a profitable coaching business? How about becoming a music tutor?
To start a music coaching business, decide your target audience and location and set your rates. For example, you can meet new students through a community event, online, or a music club, or target the local community. Set rates for your music classes and advertise your business to get as many clients as possible.
How much you can make: $30,000 — $70,000/month
How much does it cost to start: $5,035 (?)
How long does it take to build: 160 days (?)
25. Become a financial advisor
A financial advisor helps people manage their money and reach their financial goals by providing personalized advice on investments and overall financial planning.
To start a business in this field, you should consider a solid financial background, relevant certifications, and good people skills.
Building credibility through education, gaining experience, and networking are key steps to success in the financial advisory business.
How much you can make: $5,600 — $2,000,000/month
How much does it cost to start: $6,550 (?)
How long does it take to build: 30 days (?)
Explore 11 Financial Advisor Success Stories
26. Start a newsletter
Did you know that in the past five years, there has been more than a 50% increase in the number of people who read newsletters?
Newsletters are one of the few things you can use to market yourself as a trusted expert. A well-written newsletter can educate your subscribers and build connections with them.
Email newsletters are a great way to connect with customers and potential customers. It’s a newsletter’s job to inform, persuade, and sell to your audience.
How much you can make: $160 — $4,100,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Explore 48 Newsletter Success Stories
27. Start a flipping business
Flipping is a business where you buy discounted or liquidated inventory and resell it at a profit. As a flipper, you need to have good product research skills to find profitable arbitrage opportunities.
You can choose to sell your products online or in retail stores and build your inventory based on customer demand, which can provide you with scalable returns.
Flipping works best for products that have a steady market value and are easily accessible such as media, clothing, tools, or electronics.
Buying low and selling high across different product categories is an agile business model that requires patience and an eye for valuations. Understanding the supply and demand is crucial to succeed in this business.
How much does it cost to start: $50 (?)
28. Start a sewing and alteration business
Do you have sewing skills and looking for an entrepreneurship opportunity? You can start your sewing and alteration business.
A sewing and alteration business offers customers clothing repair, custom tailoring, button replacement, and other alterations. You can start a sewing and alteration business at home or set up a retail location.
To start a sewing and alteration business, you will need a commercial-grade sewing machine and a marketing strategy, so target customers learn about your business.
How much you can make: $200 — $6,500/month
Explore 3 Sewing And Alteration Business Success Stories
29. Start a supplements company
A supplement business makes money by selling dietary supplements, vitamins, protein powders, and health foods to customers.
These products are often sold directly to customers or through distributors and retailers.
Your target customers will likely include fitness enthusiasts, health-conscious individuals, wellness influencers, and those who prioritize their nutrition daily.
Starting a supplement brand is becoming increasingly popular because it's relatively inexpensive, and you can run the business from your home.
How much you can make: $1,000 — $3,500,000/month
How long does it take to build: 200 days (?)
Explore 21 Supplements Company Success Stories
30. Start an in-home senior care service
In-home senior care services allow senior clients to live their everyday life in the comfort of their own homes.
Experienced caregivers typically customize their services based on their client’s needs - which is why seniors and families prefer this type of service, even if it costs more than a typical nursing home.
There are several different types of home care you can offer, a few being:
- Personal care services: This type of service helps clients with everyday necessities, such as grooming, bathing, dressing, and overall hygiene
- Nurse-directed care: This type of care refers to caretakers managing medication, wounds, and the overall health and well-being of the client
- Meal & Food Prep: This type of care helps prepare nutritious meals and go grocery shopping
- Transportation: Rides to the library, salon, grocery store, doctor’s office, etc.
The price you can charge depends on where you live and your experience, but this ranges anywhere from $18/hour-$40/hour.
The significant part about starting an in-home senior care business is that you do not need formal education or medical training. You can build a successful home senior care business if you have the necessary skills to do this job.
How much you can make: $250,000/month
How long does it take to build: 150 days (?)
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.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
