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A lifestyle business is a business whose primary objective to earn a sufficient level of income that pertains to its founder’s basic needs and no more. The business reflects the lifestyle of its founder. These businesses are not high-growth companies and tend to be smaller, more creative or practical type enterprises
The term Lifestyle Entrepreneur refers to someone who goes into business not because of the financial rewards associated with owning a business, but to achieve a certain lifestyle in addition to their financial goals. This breed of entrepreneur is extremely passionate about what they do, and it is this passion that leads them to start a business that allows them to expand upon whatever it is that they are already so passionate about.
In general, a Lifestyle Entrepreneur does not expect to make a fortune out of their business. A Lifestyle Entrepreneur wants to be able to live their ideal life while running a successful business. The ultimate goal is not just the profit margin or salary. Also, what many people find is that if they are running a business that they love and are passionate about, that the business will naturally succeed because of their level of interest and enthusiasm that they bring into it.