8 Ways to Get Grandma and Grandpa Off the Sofa and Into Business

"If I'm going to work until I drop dead, I might as well do something I like instead of working for someone else.” That from Myrna Donato, who opened the Amber Unicorn, a used bookstore in Las Vegas with more than 200,000 titles, with her husband, after retiring.

She's just one of many "seniorpreneurs" who are trading in "Golden Girls" marathons and Mahjongg tournaments for lucrative and rewarding business endeavors. Instead of strolling into the sunset of their careers, these retirees are using their time to cash in on being their own boss.

Launching a business in the golden years fills a void, say Allen Fishman, author of 7 Secrets of Great Entrepreneurial Masters (McGraw-Hill, 2006) and CEO and founder of the Alternative Board, the world's largest business peer board and coaching franchise system. “They find that after a period of time, whether it is months or years, that they are missing the passion. Their lives no longer have the same purpose each day that it once had and they want to recapture that feeling of purpose.”

In addition, Fishman says the sense of purpose is not fulfilled via the income but rather the freedom and independence associated with owning your own business. “Most of those I know who become entrepreneurs as seniors are not doing it because of income. They are very sensitive to becoming involved in owning a business in which there may be a smaller amount of hours than they previously had with much more time away from the office.”

Looking for a way to supplement your own retirement fund? Then get inspired by these eight ways to get off the sofa and into business:

1. Raining Opportunity
Soleil Chic, a company that makes special fabric that blocks 97 percent of UVA and UVB rays, was the brainchild of Lynn Rosenberg. After her husband passed away from skin cancer, Lynn needed a way to support herself after her loss. The former poet, songwriter, and screenwriter knew it was time to create an umbrella to block the sun. "I kept thinking how people could benefit by it and possibly be able to avoid what happened to my husband,” says the seniorpreneur.

After deciding to make UV umbrellas, and then expanding the line to totes and UV hats, she shipped her first 50 umbrellas to the Ritz-Carlton in Pasadena, CA. She knew she was onto something big once her products made a splash in national and local media such as the Today Show, the LA Times, and interviews with local radio stations.

2. It Takes a Village
Dr. Scott Harrison, a retired orthopedic surgeon, invested his retirement in founding CURE International, a medical charity. His charity has nine hospitals in developing countries around the world, with four more being built. The organization also trains local staff and brings third-world health care up to first-world standards. The goal? To have hospitals become 80 percent supported within their country within the next years. The hospitals are run by CURE staff who hires local medical personnel to help, but CURE retains control of operations to ensure that the hospitals remain at the highest possible standard.

3. Cashing in on Camelids
Another couple, Connie and Thomas Betts, saw retirement as a ripe opportunity to cultivate their own business, Cascade Alpacas of Oregon. The Betts provide sales, breeding, and boarding of alpacas, domesticated species of the South American camelid that resemble small llamas. In addition, they offer visitors spinning wheel demonstrations and sell packets of handspun yarn, hats, and scarves.

4. Storytelling Success
Eighty-one-year-old Ira Jacobsen morphed from retailer into author. In his former career, Jacobsen was a legendary retailer of Brielle Galleries, often known as the most beautiful store in the world in the worst location in the world. Well, he put pen to paper and recently wrote A Quest for Excellence: The Incredible Story of the Most Beautiful Store in the World (R&J Press, 2008). Now as a successful author having sold five hundred books within the first two months of its release, national chains have noticed him and approached him to stock his book. Ira has his own web site and book signings scheduled throughout the summer.

5. Internet Faith
After retiring from the publishing industry, Phyllis Katz decided to continue her publishing prowess by creating her own online venture. The founder of K&K Publishing and Media, LLC, launched ONE: The Digital Dialog, an online community to create open discussions between people of the Jewish, Christian, and Muslim faiths to promote peace and tolerance. ONE gets approximately 10,000 hits per month and continues to grow. To date over 85 countries outside the US are visiting the site such as Canada, France, New Zealand, Israel, and India.

6. Real Estate Surfing 101
Ric Cox knows a thing or two about publishing as well. After 32 years as a magazine editor, he hung up his editorial hat, met with counselors at SCORE, a non-profit association dedicated to educating entrepreneurs and the formation, growth, and success of small business nationwide, and created ChicagoCondosOnline.com. The subscriber-only Internet service provides access to more than 4,200 condominium buildings in Chicago. Essentially users log in to search for real estate in the Windy City.

7. Pottery Passions
Superintendent-turned-gallery-owner Freeman Van Wickler also tapped into SCORE after retiring as superintendent of schools in New York. Utilizing its resources, Wickler turned his passion for Native American art into a business in North Carolina by forming The Turtle Creek Gallery, which features such pieces as wall hangings, pottery, and sculpture.

8. Snapshots of Products
Like most retirees, Jan Seale and Bob Brandenburger had typical retirement plans like travel and family visits, but they also wanted to start a small business to earn extra income. Ten days before bidding adieu to their nine-to-five routine, a car accident disrupted their intentions as Jan's mobility was impeded for several months. During their downtime, the Brandenburgers experimented with their digital camera and launched Mountain Glory Creations, a digital photography company specializing in note cards, prints, montage posters, annual calendars, greeting cards, DVDs, invitations, and screensavers.

Seniorpreneurs are Soaring
Above all, as the illustrated examples have shown, launching a business as a retiree certainly sounds enticing. What could be better than creating your own hours, pursuing a passion you otherwise didn't have an opportunity to explore, and most of all having a sense of ownership?

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