10+ Best & Profitable Lifestyle Business Ideas [2023]

Start your own business and control your work/life balance with one of these creative and demanding lifestyle business ideas. From real estate investing to home-based ecommerce, find the ideal business that works for you. Get inspired by 10+ innovative business ideas, empowering you to take control of life's unpredictable changes.
Newfoundr

By Nick Cotter
Updated Feb 07, 2024

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Hey there, you! Yes, you. The one who's been dreaming about starting a lifestyle business but doesn't quite know where to begin. As we step into the year 2023, it's time to stop dreaming and start doing. We're here to help you kickstart your entrepreneurial journey with some incredibly profitable lifestyle business ideas.

Imagine waking up every day, excited to work on something you're passionate about. Think about the satisfaction of creating a lifestyle that perfectly balances work and play, where you're the boss, calling the shots. Sounds like a dream, doesn't it? But here's the exciting part - it can be your reality.

Whether you're a seasoned entrepreneur looking for your next big venture, or a newbie stepping into the business world for the first time, this article is for you. We've curated a list of the 10+ best and most profitable lifestyle business ideas for 2023. So, buckle up and get ready to explore the possibilities that await you. It's time to turn your dreams into reality!

Personal Trainer

Have you ever considered becoming a personal trainer? Perhaps you've begun to exercise more regularly and have seen the benefits - not only in your physical appearance but also in your overall health and wellbeing. It's no surprise that personal training has become a popular profession, with more and more people seeking guidance in achieving their fitness goals. So, what exactly is a personal trainer and why could it be a great business idea?

  • A personal trainer is a certified fitness professional who helps clients achieve their health and fitness goals through customized exercise, nutrition and lifestyle plans.
  • They provide motivation, accountability, and support throughout the client's fitness journey, making it easier for them to stay on track and achieve their desired results.
  • Personal training can be offered in one-on-one sessions, small group sessions, or even virtually, allowing for flexibility and convenience.
  • Entrepreneurial-minded individuals who are passionate about fitness and helping others could certainly make a successful business out of personal training.

Now, let's take a closer look at why personal training can be such a great business idea:

  • Low start-up costs: Starting a personal training business requires very little overhead, compared to other businesses. All you really need is a certification, some basic equipment, and a space to train clients - which could even be your own home.
  • Flexibility: Personal training allows for flexibility in scheduling, so you can set your own hours and work around other commitments or responsibilities.
  • High demand: As more and more people prioritize their health and fitness, the demand for personal trainers continues to grow. There is always potential for new clients.
  • Job satisfaction: There is nothing quite like the satisfaction of helping someone achieve their health and fitness goals. Personal training allows you to play a critical role in someone's life, which can be very fulfilling.

Overall, personal training can be a rewarding and profitable business idea for those who are passionate about fitness and helping others. So, if you're considering a career change or want to add to your existing fitness-related business, personal training could be the perfect opportunity.

image of a Personal Trainer

Virtual Assistant

A Virtual Assistant is an independent contractor who provides administrative services to clients while operating outside of the client's office. This means that your Virtual Assistant can work from anywhere in the world, as long as they have an internet connection and the necessary software and equipment.

If you're looking for a business idea that allows you to work from anywhere and offers flexibility in terms of hours and workload, then becoming a Virtual Assistant might be the perfect solution for you. Here are a few reasons why:

  • Low overhead costs: Starting a Virtual Assistant business requires minimal investment. All you need is a computer, internet connection, and some basic software. You don't have to worry about renting office space or buying equipment.
  • High demand: As more and more businesses and entrepreneurs go digital, the demand for Virtual Assistants has increased dramatically. There's never been a better time to start a Virtual Assistant business.
  • Flexible workload: As a Virtual Assistant, you have the flexibility to take on as much or as little work as you want. You can work part-time or full-time, and choose your own clients and projects.
  • Ability to work from anywhere: One of the greatest advantages of being a Virtual Assistant is the ability to work from anywhere with an internet connection. You can work from home or while traveling, which makes this business idea perfect for people who want to work remotely or have a location-independent lifestyle.
  • Opportunity for growth: As you build your client base and gain experience, you can start to specialize in a particular area or niche, which can lead to more high-paying clients and increased income.

Becoming a Virtual Assistant can be a fulfilling and lucrative business idea that offers the flexibility and freedom that many people are searching for in their careers. With low overhead costs, high demand, and the ability to work from anywhere, this might just be the perfect business idea for you!

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Examples of successful businesses:

The lifestyle business industry is one that consists of companies that focus on improving customers' lives through helpful and convenient products. Here is a list of some successful lifestyle companies:

  • Away
  • Glossier
  • Bonobos
  • Warby Parker
  • Harry’s
  • Rothy’s
  • Casper
  • Hims & Hers
  • FabFitFun
  • Rent the Runway

Blogging

Blogging has come a long way from the days of online journals and personal diaries. Nowadays, blogging has become a powerful tool for both individuals and businesses alike. But what is it, and why could it be a good business idea?

  • A blog is essentially a website or a section of a website where an individual or a group of people write regular content on specific topics or interests.
  • The content can be in the form of text, images, videos or a combination of all three.
  • The purpose of a blog is to inform, educate, entertain or inspire the reader or the audience.
  • Blogs can cover a wide range of topics or niches, from parenting to cooking, from travel to technology.
  • As a business, blogging can help to establish a brand, build a community, increase online visibility, and drive traffic to the website.
  • A blog can also be monetized through various methods such as affiliate marketing, sponsored content, display ads and selling products or services.
  • Blogging can also provide an opportunity to showcase expertise, share insights and opinions, and gain credibility in a particular industry or field.

Online Tutoring

Online tutoring involves using the internet to connect students with knowledgeable experts in a given subject area. Typically, students and tutors communicate through video chat or instant messaging, and work together to improve the student's understanding of the material.

Advantages of Online Tutoring

  • Flexibility: Online tutoring allows for sessions to take place from the comfort of one's own home, at any time of the day or night. This is particularly helpful for people with busy schedules, or who live in remote areas where traditional tutoring services may not be available.
  • Access to a wider range of tutors: With online tutoring, students can access subject matter experts from all over the world, rather than being limited to the pool of tutors who happen to live nearby. This means students can find the tutor that best meets their needs, rather than settling for whoever is available.
  • Cost-effective: Because online tutoring eliminates the need for physical office space, transportation, and other overhead costs associated with traditional tutoring services, it can often be more affordable for students.
  • Increased efficiency: Online tutoring allows students to receive immediate feedback, and to work at their own pace. Tutors can also use technology to share resources and help students stay organized.

Why Online Tutoring is a Good Business Idea

  • Increasing demand: As more and more people seek to improve their skills or achieve academic success, the demand for online tutoring services is growing rapidly. According to a recent report, the online tutoring market is expected to reach $132.21 billion by 2026.
  • Low barriers to entry: Starting an online tutoring business requires relatively little overhead, allowing entrepreneurs to enter the market quickly and easily.
  • Diverse revenue streams: Online tutoring businesses can generate revenue through a variety of channels, such as subscription fees, commission-based fees, and advertising.
  • Flexible business model: Whether you want to focus on a particular subject area or offer a wide range of tutoring services, an online tutoring business can be tailored to your interests and expertise.

Interior Design

Interior design is the art and science of enhancing the interiors of a building or space to achieve a healthier and more aesthetically pleasing environment for its occupants. With the rise of cities and urbanization, interior designing has become more popular than ever before. Nowadays, more people are investing in the look and feel of their interior spaces than ever before. Interior design is a lucrative business idea for several reasons.

  • High demand: With more people becoming homeowners or establishing their own businesses, the demand for interior design is at an all-time high.
  • Creative freedom: Interior design is a highly creative field that allows you to let your creativity run free. Creativity and uniqueness are highly celebrated in this space, which means that you can create standout designs that are truly unique.
  • Low overheads: Interior design does not require a lot of overheads. You can work from home or rent a space if needed.
  • Flexible hours: Interior design is a highly flexible and autonomous business idea. You can work on a project basis, which allows you to create your own working hours and schedule.
  • Good pay: Interior designers earn a relatively high salary, which can be increased with experience, job performance, and business growth.

Related business ideas:

Social Media Consultant

With billions of people worldwide using social media platforms every day, it's clear that social media has become a fundamental part of modern life. As a result, businesses need to have a strong presence on social media to remain competitive in their respective industries. That's where social media consultants come in.

  • A social media consultant is a professional who provides expert advice to businesses on how they can leverage social media to grow their brand.
  • They create strategies to maximize the potential of social media to increase a company's reach, engagement, and profit.
  • They analyze social media trends, monitor customer behavior, and identify opportunities for companies to interact more effectively with their audience.
  • They help businesses create engaging content, build brand awareness, and establish a positive reputation online.
  • A social media consultant also advises on best social media practices and helps companies to stay updated with the latest social media platforms and features.
  • Moreover, they help companies to measure the effectiveness of their social media campaigns, tracking insights, and analyzing data to optimize their strategies further.

As businesses realize the significance of social media in modern marketing strategies, the demand for social media consultants has significantly increased. Starting a social media consulting business has many benefits. Here are some reasons why:

  • You can work with diverse clients from different industries, making every day different and interesting.
  • Flexible working arrangements and schedules. You have the autonomy to work from anywhere, anytime.
  • The startup costs are relatively low, with most of your needed tools being available for free online.
  • You can set your rates and choose the clients you want to work with. This allows you to have control over your financials and professional growth.
  • With social media evolving daily, a social media consultant business offers infinite potential for long-term growth as new technologies and techniques emerge.

With the increasing dependence on social media for business, there has never been a better time to become a social media consultant. If you have expertise in social media platforms and the ability to devise effective strategies, you may be well on your way to a successful business venture.

Personal Chef

If you're a foodie, love to cook and have an entrepreneurial spirit, you might want to consider becoming a Personal Chef. What exactly does a Personal Chef do and what makes it such a good business idea?

  • A Personal Chef is a culinary professional who prepares meals for individuals or families, often in their own homes.
  • They typically work for multiple clients, each with their own unique tastes and dietary restrictions, creating customized menus and dining experiences.
  • Personal Chefs can cater to a variety of clients, including busy professionals, families, seniors, and those with special dietary needs.
  • Some Personal Chefs also offer additional services, such as cooking classes, meal prep, and private events.
  • As the demand for healthy and convenient meals increases, the Personal Chef industry is growing rapidly.
  • Starting a Personal Chef business can be relatively low-cost, as it typically requires minimal overhead costs and can be operated from a home kitchen.
  • Personal Chefs can also set their own schedule and choose their clients, allowing for flexibility and work-life balance.
  • With the right marketing and networking strategies, Personal Chefs can build a loyal client base and create a successful and fulfilling career.

Event Planner

Are you someone who loves planning and organization? Do you have a knack for creating memorable experiences? Have you ever thought about becoming an event planner?

An event planner is someone who manages and coordinates events such as weddings, corporate events, trade shows, and other special occasions. They work with clients to understand their event vision and bring it to life. From choosing vendors and creating timelines to overseeing the logistics of the event itself, event planners are the go-to person for any event.

Why would event planning make a good business idea?

  • High demand: There will always be a need for event planners as people and businesses look to create unforgettable experiences. This makes it a recession-proof business idea.
  • Lucrative: Event planners can charge a significant fee for their services, particularly for high-end events.
  • Flexible: You can work from home or on location, and the hours can be flexible depending on the needs of the client.
  • Creative Freedom: Event planning allows you to tap into your creative side and bring unique event ideas to life.
  • Networking Opportunities: You'll have the chance to meet and work with a variety of vendors, from caterers to florists to DJs, which can lead to future business opportunities.
  • Self-Employment: Starting your event planning business means that you'll be your own boss and have control over your own destiny.

Home Staging

Have you ever seen a beautifully staged home that made you feel like you walked into a magazine spread? That's home staging - the art of setting up a home to showcase its best features and create an emotional connection with potential buyers. It's a rapidly growing segment of the real estate industry and an excellent business idea for entrepreneurs looking to tap into the market.

What is Home Staging?

  • Home staging involves creating an inviting and appealing look for a home before it's put on the market for sale.
  • The process usually involves decluttering, rearranging furniture, adding finishing touches, and creating focal points in each room.
  • Homeowners and real estate agents hire professional home stagers to help them sell their properties quickly and for the highest price possible.

Why is Home Staging a Good Business Idea?

  • People typically make buying decisions based on emotions, and a well-staged home can evoke feelings of happiness, comfort, and aspirations in buyers.
  • It's a growing and lucrative industry, with demand for home staging services on the rise. The Real Estate Staging Association (RESA) reported that staged homes sell 87% faster and for 17% more than non-staged homes.
  • Home staging can be an excellent side hustle or full-time business, with low startup costs and the potential for high profit margins.
  • It's a flexible business that enables you to work on your terms, with the option to offer consultative services or hands-on staging support.

How to Start a Home Staging Business?

  • Develop your home staging skills and knowledge by taking courses or reading books on the topic.
  • Get certified through recognized associations, such as the RESA, to provide more credibility to your services.
  • Create a portfolio of staged homes to showcase your work and attract potential clients.
  • Set up a website and social media presence to market your services and provide helpful tips to homeowners and real estate agents.
  • Partner with local real estate agents to gain referrals and tap into their networks.
  • Determine your pricing structure based on factors such as the size of the property, your level of involvement, and local market conditions.

Starting a home staging business can be an exciting and profitable venture for entrepreneurs with a passion for design, decor, and real estate. With a bit of hard work and dedication, you can help homeowners and real estate agents sell properties quickly and for the best possible price.

Online Store

An online store, also known as an e-commerce store, is a digital platform that enables businesses to sell their products or services on the internet. With the rise of technology and internet usage, online stores have become increasingly popular, making them a great business idea for entrepreneurs looking to start an online business.

  • Cost-effective: Unlike traditional brick and mortar stores, setting up an online store requires significantly fewer resources, such as rent or utility payments.
  • Accessible: With an online store, businesses can reach customers from all over the world, without having to worry about geographical constraints.
  • 24/7 Availability: Online stores are accessible 24/7, allowing customers to shop at their convenience.
  • Data-Driven Insights: Online stores generate valuable data insights, such as customer behavior, preferences, and shopping patterns. The data can be used to make informed business decisions.
  • Scalable: Online stores are scalable, meaning they can easily adapt to accommodate an expanding customer base or product line.

In summary, an online store offers numerous benefits to businesses looking to sell their products or services. From accessibility to cost-effectiveness, an online store can provide valuable insights and revenue streams for entrepreneurs.

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We're newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.