This study uses a person-centered approach to distinguish between subpopulations of selfemployed individuals using multidimensional well-being indicators. Data were obtained from European Social Survey including a sample of 3461 self-employed individuals from 29 European countries. The analysis has empirically identified six distinct profiles named 'unhappy', 'languishing', 'happy', 'satisfied', 'passionate', and 'flourishing'. The profiles were associated with significant differences in well-being, health and work-related variables. The results highlight the heterogeneity of the self-employed population, and describe the complex-both hedonic and eudaimonic-character of the well-being concept in this population. Keywords Well-being • Self-employment • Person-centered • Latent profile analysis Thus far, little attention has been given to the heterogeneity among the self-employed in terms of their well-being. In general, the self-employed report high levels of well-being (Baron et al. 2016; Stephan and Roesler 2010; Uy et al. 2013). However, the positive relationship between self-employment and well-being may be limited to the rich (Alesina et al. 2001), to the younger and highly educated (Rietveld et al. 2015), to those who became self-employed out of opportunity rather than necessity (van der Zwan et al. 2016), to selfemployed with employees and to immigrant self-employed (Johansson Sevä et al. 2016).