Answer:
This is a business that reflects owners/entrepreneurs lifestyle, interests and passion. The main idea is that business exists because owner likes to do certain things and earns money with it not just business for money with huge future plans. Therefore lifestyle business can be cafe, art gallery, wine shop, book store, diving lessons or pop-up restaurant. Actually it can be almost everything. It is possible to identify lifestyle business quite easy - they all have special aura compared to competitors. Those businesses are cared with love and true passion rather than pure economic reasons.