Finding the right lifestyle business for you
One of the benefits of residing in Australia, or should we say the ‘lucky country’, is just how many truly magnificent places we have in which to live. From the wilds of Tasmania to Queensland’s stunning Daintree, the variety and natural beauty of our country are endless.
For many Australians, a holiday away from the hussle and bussle of everyday life, can conjure up aspirations of making a permanent location change, be that a seachange or a treechange.
And it’s more attainable than you might first believe. There are in fact so many ways to make a living that it often makes sense to step away from the rat-race for a slower, stress-free, pace of life.
So, if you’re interested in making a permanent move to a regional location, consider buying or taking over the management of an existing business – there are many lifestyle business options from which to choose.
What is a lifestyle business?
A relatively new concept, lifestyle businesses are set up and run either with the aim of sustaining a particular lifestyle and level of income.
Most lifestyle business owners are looking for one thing – a work-life balance. They are not necessarily financially driven. They want to be able to make a living while still having the freedom to enjoy other part-time pursuits or even just be around to pick their kids up at a more reasonable time from school.
Some people head to ocean locations. These seachangers might be surfing aficionados who want to be able to hit their favourite break on a daily basis. Or, they could simply be looking to escape the daily commute and enjoy a slower pace of life.
Better broadband, provides work freedom and flexibility
With the introduction of the nbn broadband network, many locations around Australia are becoming more digitally accessible and therefore attractive to those looking for a lifestyle business to run. Better internet connectivity for small or remote businesses has provided more business choice with lower running costs.
Freedom to grow and scale your business
While running a business will always have its challenges, as a lifestyle business owner you’re free from many day to day hassles involved with living in a major capital city. Your living expenses drop dramatically, from food costs, to petrol and utilities.
What kind of lifestyle business suits you?
1. Computer-savvy professionals
If you’re handy with a computer and have sought after skills that can be charged on an hourly basis, you may only need a website and an internet connection to establish your own successful services business.
Graphic designers, writers and even accountants are able to work from anywhere these days, choosing their own hours and benefiting from the perks and savings only running a home-based business can provide
You might be surprised to discover that even in regional centres, shared workspaces are springing up giving e-workers the benefit of being able to connect with other freelancers like them and some often sought after people-interaction within their day.
2. Traditional or online retail stores
Another lifestyle business idea is a bricks and mortar retail store. Where in the past regional shopping outlets have sometimes struggled to attract a steady flow of customers, you can strategically boost your sales by setting up a dedicated online shop.
Get the marketing right and you can sell any manner of goods to buyers from all over the world, as well as those right on your doorstep. Homewares, clothing and electrical are some popular products of choice.
3. Tourism and accommodation businesses
Tourism and accommodation businesses have become a top pick for people wanting a stress free but profitable business, in less crowded towns and locations.
Many tourist hotspots and regional centres have hotels, motels, resorts or tourist parks for sale. Whether you buy the property and business outright or opt to lease the management rights, you can be rewarded with the ultimate work-life balance.
An extra bonus is that tourism and accommodation businesses often include living quarters for the Residence Manager, meaning your commute to work is only a few footsteps!
There’s plenty to gain, with minimal sacrifice
These days, owning a business outside of a capital city doesn’t necessarily mean sacrificing your income. There are plenty of profitable business options, that you don’t need to start from scratch. And even if your hourly wage does drop, the savings in living costs and additional time outside of work for your favourite pastimes and hobbies is well worth it.