Your forties can be the best time to think about starting a business. By this time, you’d have already saved up a bit of money for capital, and you’d have developed a profitable set of skills and savvy. If you’re a family man, you’d have to think about your kids’ future, and chances are, your current job won’t be enough for their education and care.
Your forties could also be an important turning point in your life, and you’d want to emerge victoriously. And starting your own business and becoming your own boss will give you that sense of control and fulfillment.
While these business ventures can be done by anyone, these are the most popular among men over 40. Check them out!
- Starting a warehouse business is always a good idea as e-commerce is steadily growing, which means that there will always be demand for warehouse space. Many businesses, both local and global, will be more than happy to partner with you to store their unsold stock and other items. But to get good tenants, you need to invest in smart storage systems that let you store as many items at a time. You can also get forklifts and pallet jacks for sale to improve your operational efficiency.
- Are you an expert on a topic or have something you’re really passionate about? You may want to try starting a podcast. You’ll be surprised by how many people are staying plugged in to hear what people have to say about certain topics. It could start as a fun hobby, and when you’ve expanded your contacts and fan base, you can build a website for your podcast. Once you get multiple streams, your income will come flowing in through advertising and sponsorships. To get started, pick a niche or theme that hasn’t been done before, then set up your podcasting studio at home and get talking!
- Dropshipping has taken the world by storm. This new business model allows online sellers to scale without keeping the stock. Instead, you set up an e-commerce platform, choose the products you want to sell, market them as your own, then a third party will keep the stock and ship them directly to your customers. Just make sure you establish an efficient shipping system as customers complain about long delivery times with dropshipping.
- Making artisanal beer is a popular business trend among older men, and it’s quite self-explanatory. If you’ve got a big garage you don’t use, you can start cooking up your first batch of craft beer and experiment with different types and flavors. You can also join craft beer communities to learn about different methods and branding strategies. If people enjoy your beer, you can start selling them in small batches while building your customer base and branding as you go. With careful planning and rigorous testing and a solid business model, you can quickly expand your brewery and gain the trust of resellers.
- If you’re a green thumb with an eye for landscape design, you can make quick cash with a landscaping business. To get started, you need to establish a portfolio. Try fixing up your lawn first, then take high-quality photos of your final output. Then you can start advertising your services via social media or your local newspaper. To make yourself look more professional, consider getting a truck with your logo and business information displayed. You should also invest in high-quality tools so you can finish projects faster.
- A handyman business is one of the most popular and lucrative one-man ventures any man with repair skills can do. Plus, customers pay by the hour, so if you build a loyal customer base, you can earn up to $48,000 a year. It can be the perfect side hustle for men working remotely. Plus, startup costs would only include a few good tools and possibly, a couple of certification classes. You can start your way up by fixing issues in your local neighborhood, then you can start putting up flyers in surrounding areas.
- Are you a great cook with tireless charisma and endless recipe ideas? You may want to start a food truck business. Mobile restaurants are trendy, and they are much easier to start up than a cafe or restaurant. And if you don’t sell well in a particular area, you can move around to find the best spots. Food trucks are also more casual, which means less pressure on your end. Just make sure you carefully plan your menu, find trustworthy suppliers, and invest in durable equipment.
It’s never too late to start your own business. Even at 40, you can start a business to supplement your income or take a different career path altogether.