Are you into health and wellness? Are you an advocate of a healthy and active lifestyle? If your answer to these questions is yes, you can use this opportunity to be your own boss while doing the things you love. Starting a business in this industry can be rewarding; especially now that Americans are more health conscious than ever.
The State of the Health and Wellness Industry
Health and wellness is a promising industry. In fact, the worldwide wellness economy is a $4.2 trillion market, based on the 2018 Global Wellness Economy Monitor. The report also shows that the industry reached 12.8 percent growth from 2015 to 2017, which is almost as fast as the global economic growth.
This means more consumers value health and wellness over material objects. People now focus on having their mental, physical, and mental health in sync. Feeling good, looking great, and getting quality sleep has become the luxuries people want to flaunt, both on social media and real life.
You can anchor your new business to these demands. Business opportunities are just around the corner waiting for you to grab them.
The Industry’s Promising Business Opportunities
More consumers are willing to spend extra cash to maintain their beauty, weight, and overall wellness. It makes sense, therefore, why businesses related to health and wellness would be more profitable. If you’re planning to enter this industry, here are three businesses you might consider:
- Be a personal trainer. Personal training goes beyond helping people get buff. You can also assist teens in bulking up and become more competitive in their chosen sport or help older adults maintain healthy bones. You need to obtain a certification first, however, to qualify. The median salary of a personal trainer as of 2018 was $19.15 per hour and $39,820 annually.
- Sell health and wellness products. Consider selling health and wellness products, such as vegan and gluten-free snacks, supplements, vitamins, and weight loss tools. Researching the products you plan to sell is necessary to ensure that you succeed and don’t violate any government regulation. Find a reliable private label manufacturer of vitamins, as well, to provide products safe for consumption.
- Open a massage therapy business. People are always looking for ways to manage stress, tension, and pain. One way to do this is to get a relaxing massage. The median salary of a massage therapist in 2018 was $41,420 annually. You can perform the massage by yourself or hire a team of licensed therapists to accommodate more clients.
Starting Your Own Business
Merely having an interest or love for something is not enough to run a business in the long run. Like other ventures, starting your own brand comes with several challenges and factors you need to consider for higher chances of succeeding.
Staying true to what you believe in, for instance, helps your business strive. Despite the various trends happening in the industry, you should focus on things that can help your business stand the test of time.
Capital is another major factor when starting a business. Make sure that you have more than you think you need because the return on investment doesn’t come overnight. Your capital should be able to fund the level you want to launch.
Consumers should also feel a connection to your brand. That’s why you should have a compelling story that would appeal to your target consumers, rather than simply sporting flashy packaging.
Opening a business, especially for first-time entrepreneurs, can be tough. Don’t be afraid to fail because it teaches you what and how to improve your process. Combine your passion for health and wellness with your drive to be a successful entrepreneur to build a brand that helps people look and feel beautiful.