opening a bakery or travel agency?

Question

My dad is going to retirement it 2 years. I am thinking about a small business that will keep my mom and dad busy. Bakery and travel agency have crossed my mind. Which one is more profitable (and less risky)? Any suggestion will be very helpful.

Answer 1

Both choices you have made are tough, The travel business in the most competitive business in the world and profit margins in standard travel agencies are very fine. There are a great deal of factors to consider in maintaining a travel agency, also you must be accredited to sell travel and have a volume of 100,000 year to really see any perks.

The bakery business is also tough if you expect you parents to do it all. Early hours for food preparation and baking as well as regular store hours.

Lots to consider here, if you fail to do a market study or research what your community needs, this could be a very expensive problem for you.

Opening a small business is not an over night adventure, there are capital expenditures and risk you must calculate very carefully, you can build and they won't come if it is not needed.

Best of luck.

Peace

Answer 2

Why? There are so many more enjoyable things to do during retirement. Many people have the idea that we (retirees) are sitting in rocking chairs either on the porch or around the TV in the day room. This might have been the reality in the past but now, a different type of community is becoming more common. It is called an "active adult" community. They are for adults who have figured out there is a lot more to life than working. My activities include golf, tennis, water volleyball, motorcycling, bicycling, woodworking, bridge, chess, and billiards. I'm also active in several community theater groups. There is so much more I could do but I'm often double and triple booked already. My schedule is so full that I have to use a day planner book just to know were I'd going next!

Answer 3

Bakery is much too hard work for retired people.