[mom-uh
n-pop] 
adjective, noun, plural -pops.| 1. | of or pertaining to a small retail business, usually owned and operated by members of a family: a mom-and-pop grocery. |
| 2. | of or indicating something, as an enterprise, investment, or project, that is independent, small in scope, and modestly financed. |
| 3. | a small-scale, owner-operated business. |
Mom and Pop
An adjective denoting a small-scale and family-like atmosphere, often used to describe these types of businesses and investors.
Investopedia Commentary
A mom-and-pop business is typically a small family-run business. A mom-and-pop investor is typically a regular investor who doesn't invest for a living.
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See also: Institutional Investor, Nest Egg, Personal-Use Property