Business idea – Retirement Planner
This small business idea can start from home and make a profitable business. This article gives you idea about how to do this business? What is the requirement for the business? Who is your customer? How much capital is required to start a business? for business and other business aspects.
Start-up cost: $1,000–$2,000
Potential earnings: $20,000–$40,000
Typical fees: $150–$1,000 (depending on scope of project)
Advertising: Newspapers, publications of local interest groups, membership in community organizations, word of mouth, direct mail, Web site with retirement planning tips and links to related resources
Qualifications: Expertise in financial planning; certification helpful; experience or a degree in finance or a related field
Equipment needed: Computer, printer, fax, cell phone, copier, marketing materials, business cards, letterhead, envelopes
Staff required: No
Hidden costs: Conferences for continuing education
What You Do
Retirement planners are finding a rising demand for their services, due to widespread fears about the future of Social Security. You will be distinguishing yourself from the hundreds of financial planners searching for customers in every community by your focus on this one vital piece of the financial puzzle. As with lawyers, accountants, and other professionals who operate as small businesses, your challenge will be to gain the confidence of your clients so that they prefer your excellent personal service over the security of dealing with a large institutional business that claims to off er the same type of benefits. You’ll sell them on how meticulous you are at developing financial strategies tailored to their own unique financial situations instead of a grid in a book. You’ll take a good look at their plans for retirement and work out a sensible budget based on that information. You may also suggest financial products or options, such as mutual funds.
What You Need
You just need adequate materials, costing about $1,000, to present the image of reliability that will make people feel confident in your knowledge and expertise.
A Web site that’s plentiful with links and resources will also help position you as knowledgeable in your field. Don’t spend too much on furniture and desks because you will be travel to your clients’ homes and other meeting sites most of the time.
Keys to Success
Retirement services is a tough sell. While almost everyone needs them, people are afraid to contemplate the reality that they should be saving more, spending less, and keeping to a budget. Your hook for this market may be to find a way to send a reassuring message that it is possible to plan responsibly for retirement without taking all the fun out of today.