A cottage business, also known as a lifestyle business, is a small business that is typically operated from the owner's home and is focused on generating enough income to support the owner's desired lifestyle. Cottage businesses are often operated on a part-time or flexible schedule, and the owner may have other sources of income in addition to the business.
Cottage businesses can take many forms, such as consulting, coaching, crafting, or providing services like home repair or landscaping. They are typically started with a small investment and are designed to provide a relatively low level of income compared to traditional businesses.
One of the key benefits of a cottage business is the ability to work on a flexible schedule and to have a work-life balance that is more in line with personal priorities. Cottage businesses can also be an attractive option for individuals who want to start a business but do not want to take on the risk and commitment of a full-time, traditional business.
However, it is important to note that cottage businesses can also have limitations. They may not have the potential for significant growth or the ability to generate a high level of income. Additionally, cottage businesses may not offer the same level of stability and security as traditional businesses.
Overall, a cottage business can be a good fit for individuals who are looking for a way to generate supplemental income or to pursue a passion, but it may not be suitable for those who are seeking to build a high-growth business.