There are many businesses you can start once retirement arrives. However, you need to be smart in determining which businesses have promising prospects to pursue after retirement.
Talking about starting a business after retirement, one type of business with good prospects that you can do is the property business.
Business in the property sector is classified as an attractive business because the selling value of a property generally does not decrease and the profits obtained can be doubled.
With these attractive prospects, you can start a property business at any time as long as you have sufficient capital, including when you enter retirement. If you are interested in getting into this business, you can plan your budget through Equity Mutual Funds.
In order to get a clearer picture regarding this business plan, below we will provide an explanation of the types and tips that can be applied in starting a property business.
Types of Property Business
Quoting from the Gramedia page, the property business revolves around ownership of land and buildings. For those of you who are interested, this business can be done either individually or on behalf of a company.
The property business consists of several types. If you are interested in running this business, then before starting, you need to first understand the types of this property business.
Some examples of types of property business are as follows:
- Land Buying and Selling Business
One type of property business that is quite popular is the land buying and selling business. Even though the shape is not a building, a land is still classified as property.
This type of property business generally offers big profits. This is because the amount of land currently available is limited while the demand for house construction is increasing.
If you run this business, you can sell it in the form of plots to developers to later develop them into buildings, such as houses or shophouses.
- Shophouse Business
Apart from buying and selling land, the next type of business in the property sector is the business of renting out and selling shophouses. This type of business is considered attractive because many entrepreneurs are interested in starting a business in renting or selling shophouses.
When you start a shophouse rental and sale business, you need to be smart in determining a strategic location. The reason is that this strategic location is an important factor that is assessed by an entrepreneur before making the decision to rent or buy a shophouse as his business headquarters.
In order to get a strategic location for building a shophouse, you need to prepare more budget. To support this need, you can take advantage of the returns from investments, such as Equity Mutual Funds which generally offer high returns.
- Apartment Business
Then in residential form, you can also start a business to rent out apartment units. To attract people in renting an apartment unit, you need to offer advantages. For example, you can rent out an apartment with aesthetic furniture.
Then, so that your apartment rental business reaches more consumers, you need to take advantage of technological assistance such as social media or dedicated applications to advertise residential rentals.
- Villa Business
Usually villas are built in places that are far from the crowds. Therefore, if you have land or a building in a strategic location, you can use it and turn it into a beautiful villa to rent out. The prospects for this villa rental business will generally be visible when the holiday season arrives.
- Become a Housing Developer
Apart from being able to do business in the property sector with capital from the property itself, in fact you can also start a business by becoming a housing developer.
This type of business will require you to develop buildings, such as residential clusters.
Tips for Running a Property Business
Even though it is known as a business with promising prospects, you still need to be careful when running this property business. The reason is that if you take the wrong step, not only can you lose your capital, but you can also experience big losses.
Therefore, below we will provide several important tips that can help you when starting a property business. Tips that you can apply so that your property business can run smoothly and successfully include:
- Find and Expand Collaboration Networks
One tip that can support smooth and successful business in the property sector is to find a network of collaboration and then expand it.
With more and more collaborative networks being established, your property business and will become more known. Not only that, having an extensive business network can also help improve your skills in business and communication.
- Collaborate
Next, you can collaborate on business. This collaboration can take various forms.
However, if you want to start collaborating in business, make sure you choose the right partner. This is important so that your desired business goals can be achieved.
- Structure the Site for Promotion
The next important tip that is also important to do if you are interested in starting a property business is to set up a website for easy promotion.
By having a site that summarizes all information related to your property business, apart from being easier to find, this site can also make it easier for clients to find out more about the types of property you offer.
- Look for Employees
When the business starts to grow, you can try to find employees. Especially when you plan to start this property business after retirement. By recruiting employees, the work and clients that come in can be handled better.
Start a Property Business by Investing in Mutual Funds
Equity Mutual Funds are a type of Mutual Fund which portfolio is mostly invested in company shares. Investing with this type of instrument has many advantages, one of which is the potentially high returns.
Of course, these benefits can be used for those of you who plan to start a business after retirement, such as a property business. Talking about utilizing Mutual Fund returns to starting a business, you need to choose the right investment partner.
One partner who can support and guide you while investing in equity-type Mutual Funds is DBS Treasures priority banking. As a wealth management partner, DBS Treasures offers several benefits.
The advantage of investing with DBS Treasures is that the investment will be directly managed by a professional Investment Manager. Not only that, you will also gain curated market analysis from a team of financial experts who will communicate it.
Gain the latest opportunities that have been tailored to your risk profile and portfolio needs, driven by Artificial Intelligence/Machine Learning (AI-ML). This insight is equipped with curated solutions related to investment (Grow) and insurance (Protect), so you can quickly and confidently invest through your preferred media.
If you are interested in starting investment with Equity Mutual Fund instruments with DBS Treasures, you can learn the details by clicking here.
