Encore Career: 7 Business Ideas That Are Fun to Run

Encore Career: 7 Business Ideas That Are Fun to Run

Interested in an encore career? Here are some business ideas that can make your second (or third) career an enjoyable one.

Retirement: There’s More to Life Than Golf

You might be retired but you’re not ready to call it quits. You’ve worked hard all your life, learned a thing or two about how to run a business, and you’re ready for a new adventure. You’re not alone. A whopping 72% of Americans under the age of 50 want to keep working after they retire.

The benefits of starting a second or third career are numerous. Workers report not being ready to throw in the towel in retirement. Instead, they want to take more control over their time and follow their passions. Some want to be involved in social causes that have meaning for them, while others are seeking more personal fulfillment. Staying engaged in life is another frequently cited reason for diving into a new line of work.

Retirement no longer means not working. Beyond the personal satisfaction many derive from staying in the workforce, there are also considerable financial benefits to working past the traditional retirement age. An active retirement can involve lucrative new businesses or jobs that generate income beyond what was originally planned for. This may be icing on the proverbial cake for some. For others, it may be a necessity since the best laid financial planning can hit unexpected bumps in the road.

Working past retirement means you might delay taking Social Security. Even delaying your Social Security by just one year can increase your payment by 8% for life. This increase can influence the quality of your post-work years. Any work you do that delays your dipping into your retirement accounts means more financial security down the road.

Are You Ready for Your Encore?

You are a retired businessperson looking for ways to stay active and engaged. Maybe you want to share some of the knowledge you’ve gleaned over a lifetime of hard work. Maybe you want to have a positive impact on your community. You may want to fatten your nest egg for future adventures or to benefit children and grandchildren. Or maybe there’s a dream you set aside while your nose was to the grindstone and now it’s time to dust that baby off. You may be ripe for another career.

Second- or third-act workers tend to be more active and purpose-driven. They are excited to greet each new day, fueled by positive outlooks. They tend to have a sense of direction and are future looking. They want to make a difference in their communities and to keep learning new things and developing new skills. They want to be a useful part of the world.

Encore Business Ideas: The Road Not Yet Traveled

Many Americans struggle in retirement with feelings of stress, anxiety, boredom, and restlessness. With so much left to offer and many healthy years left to live, many retirees refuse to be put out to pasture. In order to stay active, engaged, and purpose driven, they find encore careers. If you wish to join the ranks of those re-making their lives, here are some business ideas you might not have considered for your next act:

Create a nonprofit: If finding meaning in your work and making a positive impact on the world tops your list of post-retirement priorities, starting your own nonprofit may be for you. Nonprofits tend not to be financially rewarding, but the work is gratifying and you can make your community — or the world — a better place.

Tutor students: A second career in education can be deeply satisfying, teaching the next generation to think, dream, and succeed at building a better world. You can parley knowledge from your last profession into this new job or go back to school to earn any required certifications.

Delve into health care: The fast-growing health care field can be fulfilling. Some aspects of health care require further education and can be very physical. Others could be done from home, such as helping patients navigate the complicated world of insurance and health care.

Share your wisdom: If you loved your old job but want more autonomy over your hours and associates, consulting can be a great way to share your expertise on your own schedule.

Run the numbers: Always in demand, bookkeepers and tax preparers find their own clients, keep their own schedule, and can easily work from home. Be prepared to take a bookkeeping or tax prep course to be at the top of your game.

Farm for fun: Another option that has a lot of physical requirements, running a hobby farm can be both gratifying and revenue-producing. You can raise chickens, goats and more for fun and open up your farm to tours and interactive fun for profit.

Buy a franchise: Many retirees are interested in starting a business but don’t want the risk that comes with starting a business from scratch. Buying a franchise is an excellent way to be your own boss but with a ton of support. With a franchise, you are becoming part of a known brand with an established business plan and financial track record.

Scissors & Scotch: Your Encore Career

Many retired folks are looking to create their own opportunities for work. They’ve had it with the 9-to-5 grind, working to make someone else’s dreams come true, and are ready to take the leap into something different and more satisfying. Starting you own business can be just the ticket to a more rewarding life and is a pretty badass move for someone in retirement.

If you feel your inner entrepreneur stirring but you aren’t sure what direction to take, see why Scissors & Scotch might be your best next career. More than just a men’s haircut franchise, Scissors & Scotch has the old-school spirit of a barbershop with a new-age twist. We’ve elevated the men’s grooming experience to include shaves and haircuts, skin care and waxing, all in a relaxed atmosphere enhanced with drinks from our lounge. We serve premium liquor, handcrafted cocktails, beers on tap, and coffee. This is a new kind of barbershop, and we are looking to grow. We’re expanding our brand and developing new areas from coast to coast. You could even open multiple units within a particular market.

With a Scissors & Scotch franchise, you join a time-tested model for starting a business. You fulfill your dream of being your own boss, and we provide you with a blueprint for success. You’ll be part of a recognizable and growing brand, supported by a team of experts making sure you’ve got all the tools you need for success. A barbershop is a community center, where great conversation and good vibes thrive. Best of all, no industry experience required.

Start your encore career today. Apply now.