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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.

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