Retirement is a great time to explore new ways to supplement your income, and starting an errand business can be a perfect fit. This venture allows you to utilize your time effectively while providing valuable services to those in need. In this blog, we will cover the essential skills you need to acquire, where you can learn these skills, different ways to charge for your services, potential market niches, and how to find clients. Whether you’re looking to stay active or simply earn extra money, running an errand business could be the right opportunity for you.
What is a Running Errands Business?
A running errands business involves providing various services to individuals who need assistance with their daily tasks. This could include picking up prescriptions, delivering packages, taking items to the post office, or handling other small but necessary chores that people may not have the time or ability to do themselves. We have all done these errands for ourselves over our lifetime. In fact, there were entire weekends that were spent just running around and doing errands to prepare for the week. It would have been nice to hand over some of these errands to an errand running business. For retirees, this type of business offers a flexible way to stay active and earn extra income by helping others manage their busy lives.
Profit Margins and Pricing Strategies
Understanding the profit margins and various ways to charge for your services is key to making your errand running business a viable retirement side hustle. Typically, you can expect profit margins to be around 30-50% after accounting for expenses such as transportation, supplies, and marketing. You can charge clients either by the hour or per errand. For example, you might set an hourly rate of $20-$30 or a flat fee of $10-$15 per errand, depending on the complexity and distance involved. This flexibility allows you to cater to different clients and ensures you can generate extra income in retirement.
To maximize your earnings, consider offering additional services that complement your errand running business. These add-ons could include pet sitting, house sitting, or minor home maintenance tasks. By diversifying your offerings, you can attract a wider range of clients and increase your overall income. Offering package deals or subscription services can also encourage repeat business and provide a more steady revenue stream.
Low Competition Niches with Good Sales Potential
- Prescription Pickup and Delivery
- Personal Shopping (Non-Grocery)
- Document and Mail Handling
- Pet Transportation
- Home Check-Ins for Travelers
Expanding on Personal Shopping (Non-Grocery)
Personal shopping for non-grocery items is an excellent niche with low competition and good sales potential. This service involves assisting clients in purchasing clothing, gifts, household items, or other personal needs. Retirees can leverage their experience and attention to detail to offer tailored shopping services that save clients time and effort. This niche can be particularly appealing to busy professionals and parents who lack the time to shop for themselves. Additionally, providing personalized recommendations and handling returns can add value and enhance client satisfaction, leading to repeat business and referrals.
How Do I Find Clients?
Finding clients for your errand running business can be straightforward with the right approach. Start by creating an online presence through a simple website and social media profiles to showcase your services and contact information. Utilize online platforms like Nextdoor and local community groups on Facebook to advertise your services to nearby residents. Word of mouth can be powerful, so consider offering initial discounts or referral bonuses to encourage your first clients to spread the word. Partnering with local businesses such as pharmacies, dry cleaners, and senior living facilities can also help you gain referrals and build a steady client base.
Conclusion
Starting an errand running business can be an excellent way for retirees to earn extra income while providing valuable services to the community. By understanding profit margins, exploring niche markets, and utilizing simple client-finding strategies, you can create a successful and rewarding business. This opportunity allows you to stay active and engaged, all while generating additional income to support your retirement years.
If you would like more side hustle ideas for either preretirement or retired people, please visit sidehustleforretirees.com.