Small business - post early retirement

[pauljdh]

Im leaving work later this year after 42 years and have a decent FS pension of which Ill take approx £150K tax-free.

Im only 58 and would like to run a small business generating a modest income such that holidays etc don't deplete my cash too quickly.

Ive an open mind but dont want to get involved in anything with health and safety, warranty hassle, and must be part time.

I may explore a franchise but wondered if anyone had trod this path?

I'm a decent aerospace engineer / programme type with good commercial noddle and married to an accountant.

I appreciate this is a very open question but any ideas worth pursuing most appreciated.

Ta

[rog007]

You’ve mentioned what you’re not interested in; what are you interested in?

[Jasandjules]

property developer. Start with a cheaper house/flat and see what goes..

[StevieBee]

Any business carries a certain risk and also requires some money to set up in the first place.

Being married to an accountant will help but without any hand-on business experience, these risks are heightened.

Because of this, stress level are going to be high initially and you'll also work longer hours to get the thing up and running.

Not saying don't do it but on the basis of you simply looking for a means to keep the pension topped up, there are easier, risk free means to achieve this.

[Barga]

I would only do something that does NOT require you to employ anyone.

[Fast and Spurious]

Do you have any hobbies that you are very knowledgeable / skilled at and can turn into a way of getting modest but enjoyable income?

[Badda]

Jasandjules said:

property developer. Start with a cheaper house/flat and see what goes..

It’s as easy as that!

[CzechItOut]

Could you do consulting for 3 months of the year? Enough to generate some income, without too much stress or long term commitment.

The problem with many businesses or franchises is that you run the risk of it quickly becoming another full time occupation and can be problematic if you want to take holidays or time off.

[FocusRS3]

anonymous said:

[redacted]

Hi Tonker,

I'd be interested to know more on the subject of who's looking for investment.

Any main areas as such ? TVM

[red_slr]

If you are doing it just to save a few quid, honestly I would not bother.

I would sit down and have a really long think WHY. I doubt that's the real reason...

If it is, then see the first line of this post!