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

  • Financial statement
    Financial statement is a written report that quantitatively describes a firm’s financial ...
  • Supply Chain Management
    Supply chain management is the coordination of the flow of all information, money, and ...
  • Exclusive handling
    Exclusive handling is a form of control in which a franchisor requires the franchisee ...
  • Idea Bank
    Idea bank (or vault), which is a physical or digital repository for storing ideas. An ...
  • Copyright bug
    Copyright protection can be enhanced for anything written by attaching the copyright notice ...