Lifestyle Businesses are generally located in one of Australia’s tourist regions. They allow owners the enviable lifestyle that comes with living and working in areas of natural beauty. The business would provide the owner with a level of income and flexibility that suits the life they want to live. Perfect for choosing family over work and striking that coveted work, life balance. Some businesses may come with a residence on-site or owners may choose to live locally in the towns and villages surrounding their business.
Different types of Lifestyle Businesses include: bed & breakfasts, cottages and retreats; motels and boutique hotels; caravan parks; boutique wineries; hobby and small farms; restaurants and cafes; retail and gourmet produce stores; tourism attractions and tourist activities.
A local real estate agent will often be looking after the business sale. Alternatively, they may be listed with a specialist business broker that services that particular type of business or location.
A Lifestyle Property is an investment property in a tourist area that the owner puts on the holiday rental market. They may then manage the property themselves or employ the services of holiday rental management company to do this for them. In the case of holiday apartment complexes this would be handled by the apartment managers that hold the management rights.
A local real estate agent would be looking after this type of sale as they are generally straight forward investment property sales.
Making that great leap forward into a lifestyle business can be a difficult one. Rest assured that plenty of people have done it before you and enjoy sharing their experiences and advice.
It can take time to find the right location and the right business but once you do the effort will be worth it. Once you make the change to being your own boss, you’ll never look back.