Operating a Retail Business
There aren't many fields that offer as wide a range of opportunities as retail. If the two of you have dreamed of making money by buying and selling, retirement can be a good opportunity to give it a try. Open your own store, or try retailing without a brick-and-mortar presence, which can involve catalog sales, vending machines, or running a booth at flea markets or craft shows. Of course, the Internet offers many ways to connect with customers.
A small store or boutique can be a good choice for a retired couple. The skills needed -- merchandising, display, customer service, store maintenance -- give you both plenty of ways to contribute. Plus, if you wish to extend your hours without hiring employees, one of you can cover the store while the other enjoys free time or runs errands.
You'll want to sell products that fit with the interests of one or both partners. That might mean pottery or antiques, garden supplies, electronics or specialty food items. Keep in mind that retailing is a relatively risky business and that the marketplace can be fickle. You should be willing to live with risk, able to multitask well, and have the patience to endure slow periods.
You can jump into retailing by buying a store with an established clientele. Investing in a franchise usually means a parent company provides some of the know-how. If you're adventurous, you can launch your own store from scratch.