The days of working 40 years and retiring with a gold watch, and a nice pension, have all but disappeared. Companies forced to downsize and trim expenses, naturally look to eliminate those that are reaching retirement age. There are also those retirees that have spent some time out of the workforce, and are bored to tears. Whatever the reason, a new breed of business owners are emerging with a bang. Renegade entrepreneurs is almost too mild of a term for the baby boomers that grew up with deep ethic morals, a will to work hard and a savage desire to succeed.
Armed with knowledge and experience, Baby Boomers have often been coined as hippies, or old time rock and rollers, but should not to be looked upon with pity, due to their age. They have advantages that far outweigh modern technology. Abilities such as common sense, calculating figures without a computer, and an overwhelming survival instinct, are features that cannot be found in today’s younger generation. If you are part of the Baby Boomer generation, never let anyone tell you that your life, in business, is over.
A Generation of Risk Takers
Unlike Generation X and Generation Y, the Baby Boomers are not riddled with debt from having to own the latest and greatest technical devices, fastest cars, or big, beautiful homes. Many of the 55 through 64 age group have learned their lessons of managing finances the hard way, climbing out of debt and learning how to stay clean, financially. However, the proposition of an exciting risk, is never far from sight. However, they are no longer using opportunities as a stepping stone to a bigger and better future, but instead, are looking to make a difference in society. Small companies that have little start-up costs, or franchises that offer potential and benefits, are two of the areas that most attract Baby Boomers.
Hot Business Ideas for Renegade Boomers
Self Storage is becoming an increasingly popular trend for young and old, alike. Living with less space may save on the utility bills, but little storage room can be the result. Turning to self-storage proves to be a great solution and cost effective. Locating a storage facility close to your home or small business is now the biggest problem facing potential renters. Each time a storage facility emerges that is convenient and appropriately priced, people swarm to it like bees to a hive. A Baby Boomer with a construction or business background, will have little trouble in starting a self-storage company. You will probably even become your own best customer.
Wholesale and Retail Pet Supplies
The world has gone bonkers with owning and caring for pets. You may even have a little darling of your own. Everything from grooming supplies to pet treats can provide a nice income for Baby Boomers. Perhaps you have always wanted to create the best dog biscuit or come up with an idea for the perfect pet bed. Start as small or as large as you like. Being a distributor for a line of products can also be an option, along with your own personal items. Think about patenting a creative idea and run with it. There appears to be no saturation of this market, only growth and huge potential.
Consulting and Writing
Use those years of knowledge to teach hungry minds what needs to be done to succeed in business. The world has not changed, only people change, and much of what is taking place today, is a bad idea. Hedging for profit, understanding the difference between real and paper trade, and how to survive with little income, are some misunderstood topics that Baby Boomers have learned to deal with in the real world. You would be surprised at how using common sense can keep you booked with firms and public speaking gigs, for the next year.
Ebooks are a trend that seem to be here for the long term. You do not have to be a professional writer in order to give the public what they want. There are many online writing sites where great writers will take your idea and spin it into your own words. Self-publishing will get your work out there in just a few weeks. Select a subject that you love, or use past experiences for a fascinating story. The sky is the limit for subjects that are interesting and fun. Once you catch this bug, you will never look for anything else.
Teaching Green Energy
Learning new and exciting ventures is a great way to stay young and motivated. What better way than to take courses in the expansion of green energy? Schools and companies are always looking for experienced instructors to move this agenda forward. Where do these teachers come from with a concept so new? If you have always considered yourself a career student with no future, look to creating your own path. Students are hungry to learn the basics of wind, solar and geothermal energy. Having an engineering background can be a big plus and the learning will never end.
For many Baby Boomers, the time for retirement will never come. A strong work ethic has created a character that lives and breathes survival and activity. Failing to be a contributing part of society, is not in their vocabulary, nor in their future. There are many options for old hippies to contemplate, and a few that have yet to be discovered.