The-definition.com

Definition

Lifestyle Firms

Lifestyle firms are those businesses which provide their owner or owners the opportunity to pursue a particular lifestyle and earn a living while doing so. Lifestyle firms include ski instructors, golf pros, and tour guides. These firms are not innovative, nor do they grow quickly. Commonly, lifestyle companies promote a particular sport, hobby, or pastime and may employ only the owner or just a handful of people. Tahoe Trips & Trails, owned by Hanna Sullivan, is an example of a lifestyle firm. The company leads multiday outdoor adventure trips for private groups and corporate clients to Lake Tahoe, Yosemite, Death Valley, Jackson Hole, and similar locations. Sullivan left a prestigious jot with Freemont Ventures, a private investment company, to start Tahoe Trips & Trails because it better accommodates her preferred lifestyle.

Share it:  Cite

More from this Section

  • Public corporation
    Public corporation is a corporation that is listed on a major stock exchange, such as ...
  • Board of Directors
    A board of directors is a panel of individuals elected by a corporation’s shareholders ...
  • Window of Opportunity
    Window of opportunity refers to the time period in which a firm or an entrepreneur can ...
  • Technological & Marketing Alliances
    Technological alliances & Marketing alliances are two of the most common forms of alliances. ...
  • Embargo
    Embargo legislation that prohibits firms from importing some or all of the products made ...