Retired--Had Own Business--Miss Dabbling

[Elbata]

I've had my own business for 30 years. Did appliance repair, heating/AC and garage door repair.

For the most part, I really enjoyed my work. Since retiring, I'd still like to dabble in it, but I don't think it's worth it and here's a few reasons:

1. All the licenses I need to purchase--City license, appliance license, AC contractor license and insurance.

2. Having to keep all the records and file a Sch C.

Honestly, by the time I take out expenses, the income will be next to $0.

So, even though it's something I enjoy and I could help out others, it's just not worth the hassle.

Hoping to get some feedback. Thank you.

[GrayHare]

Maybe help family and friends on projects instead. Should get you at least free meals and beers, plus plenty of thanks.

[Raymond01]

I like fixing things too but not as talented as you. How about pursuing something like this:


housing maintenance, low-income seniors, nonprofit home improvement pr... - AARP


Harry

[RetiredGypsy]

Could you part time teach any of it at a tech school or community college? Would that be hands on and engaging enough?

[FIREmenow]

Quote:

Originally Posted by RetiredGypsy Could you part time teach any of it at a tech school or community college? Would that be hands on and engaging enough?

Habitat for Humanity could probably put your skills to great use!

[Dawg52]

Quote:

Originally Posted by FIREmenow Habitat for Humanity could probably put your skills to great use!

I was thinking the same thing. Do a project here and there as you feel like it.

[427Vette]

I contemplate this same thing often. I am also in a contracting business and wonder about working a little after I retire. I have done the same calculations that you have and it is hard to justify the licensing, insurance, continuing education etc. The only benefit that I can see is the tax breaks that you could get by owning a business.

Could you find a few reputable local businesses that do your kind of work and let them know that you wouldn't mind working a few hours/days here and there if they need you? We hire a couple of retired guys when we get in over our heads with to much to do. They like it, we like it, it works good for both of us. We just have an understanding that they are retired and only do this to get out a little and maybe make a few bucks. If its to hot, cold or to much work we don't ask them to do it. This option would get you away from the paperwork, billing, collecting, and all of the hassles of owning a business.

The other thing I think about is starting a home inspection business. It seems that so many of the local home inspectors have absolutely no real experience in the field. It would probably be easy to obtain a few accounts if you could share your résumé and make sure to let them know that you were a real service person who has a background and made your living working in the field. I don't know about the insurance requirements but I have asked several home inspectors what type of training is required and it sounds like after a couple weekend classes all of the sudden they are a certified home inspector. It doesn't seem like they have to work to hard. They walk around and look at things that they think need repairs then request that it be evaluated by someone who actually knows something. Perfect for a retired guy.

I am curious on how you got out of business. Did you sell your company or just decide to quit and take the phone off the hook then have an auction?

[Elbata]

OP here. Thank you all for your comments.

Deadshort, my customer base was in Long Beach CA. I moved from there to Orange County ~15 years ago and did less and less work as the years went by.