Operating a lifestyle business implies improving one’s own personal lifestyle instead of maximizing profit or revenue. Where most business people are chasing their next promotion or seeking millions of funding for their tech startups, the owners of lifestyle businesses follow a different path. If you want to be a part of them then this article is ideal for you. In this article, we are going to talk about some of the lifestyle startup ideas that you can implement.
What Is A Lifestyle Business?
Before we get into the various lifestyle startup ideas, let us have a look at the idea of this type of business. In simple terms, a lifestyle business is any business that allows and also supports the lifestyle that you wish to create. That may require working from the comfort of your home or traveling the globe. The choice is completely yours.
We can all debate on what really qualifies as a lifestyle business. For some, it implies an online store and for others, it is a weekly podcast. Having said that, we would like to point out that a lifestyle business operates ideal for certain kinds of people. If climbing the corporate ladder and formulating a million dollar enterprise makes you excited, then probably a lifestyle business should not be your priority. But if you seek a stable income that supports your lifestyle without offering you the hustle of a 9-5 job, then you will find many advantages here.
Best Lifestyle Startup Ideas For Stable Income
Lifestyle businesses are not restricted to blogging and also initiating an ecommerce business. While these are some of the famous instances, there are numerous other choices as well. In this section, we will be discussing all the lifestyle startup ideas that you have as an entrepreneur. Before we start let us see lifestyle startups examples. The names include Washbox24, iSurfer, etc.
1. Affiliate Marketing
The idea of affiliate marketing is fairly straightforward and quite famous as it has low barriers to entry. It operates by promoting the product or business of someone else by using some form of tracking, such as a coupon code or an affiliate link. Whenever someone buys the product and you are attributed to the sale, you get a commission.
What few individuals seem to mention, however, is even though it is convenient to get started in affiliate marketing, it can take you a while to earn a decent income from it. If you are depending on organic search traffic, then the learning curve is steep and even then you might require years of effort before you start to earn more than just beer money. But for the long term, this is one of the best lifestyle startup ideas.
2. Amazon FBA Business
Fulfillment by Amazon (FBA) is possibly among the easiest ways to get started with a “legitimate product business”. The most attractive chance is to “private label” your items where you find quality items, put your logo, and own packaging on them, and then you can ship them to Amazon.
After formulating a listing in their system and then sending your products to fulfillment centers of Amazon, they pretty much do the rest. Once you receive a sale, Amazon handles everything from payment processing, customer service, delivery, and returns. So this has always been considered among the ideal lifestyle startup ideas.
3. Become An Investor
Obviously, this is not for everyone. But if you have a decent chunk of alteration you can form yourself in a way where you can live off of your investments. Instead of residing in cash, developing the idea of investing and creating confidence in that skill can turn into a semi-passive lifestyle business itself.
There is no rule book on how to invest well. It all replies to your personal aims and your risk appetite. There are many who view this form of lifestyle income as a freedom fund. Many also choose low-cost index funds, but dividend stocks and property investments might be more ideal if your goal is to develop income.
4. Become A Value Added Reseller
VAR (Value Added Resellers) take a prevailing service or product, add a complimentary service, and then they resell the product. The main purpose here is to add value to what already prevails.
This business model is famous in the IT space where you can bundle up the software and offer a package for your users. However, you can find chances to become a VAR in many other sectors as well. This is considered as one of the most unique startup ideas in India.
5. Brick And Mortar Business
If you are looking for innovative startup ideas for lifestyle business then this is it. Who told you your lifestyle startup ideas could only be online? Mortar and brick stores have an unfair privilege which is a physical location where users can visit you.
The crucial thing to remember here is that you do not have to be physically present at that location, that is what hiring the right people is all about. Once you have solid operations in place, you should be able to function remotely and focus your time on expanding your business.
While it is great to dream of exotic vacations and also 4 hour work weeks, there is so much more to lifestyle businesses that we wish people spoke about. Because, if we never had to work for another day, we would eventually become bored. Most people try to escape from this not because they do not like to work, but because they get no time to enjoy. So to balance both professional and personal life one can choose the option of a lifestyle business. In this regard, we have shared some of the most effective lifestyle startup ideas for you. You will find similar lifestyle startups in India and also across the globe.