There is no doubt that beauty, health, and wellness is one of the world’s largest industries, with the sector’s estimated valuation at $4.2 trillion! And in 2020, India reached an impressive milestone as it became a $13.76 billion health and wellness market. The industry’s future is bright, and it is the right time to step into this business as a new entrepreneur.
Here we tell you how you can enter the new markets of this multi-billion dollar health and wellness industry.
The development of a healthcare business does not require significant capital investment. You just need to find a segment that suits your speciality and is less risky. These are some of the essential services that entrepreneurs can provide as a starting point in the beauty, health and wellness industry.
With a new rush of budding entrepreneurs, it is possible for health and wellness industry to incorporate countless concepts and take the business to a new level.
Personal (Private) Training Business
Personal training is not just for those who want to gain muscles and abs. Many personal trainers work with people to improve their competitiveness in sports and work with people who want to protect their bones and prevent injuries. This gives a vast market to explore as a business.
Health training is not limited to physical conditioning only. Coaches can advise and support people to improve their physical and mental health. Exercise and weight control can be part of a health coach’s strategy. Professional coaches can help stressed people to overcome common barriers by healthy and nutritious ways for their wellbeing.
Therapeutic massage is an attractive business area that can help people cope with stress, tension and pain. To protect customers and practitioners, it is a regulated industry with a curriculum and licensing requirements. By making a fundamental investment in equipment such as massage tables, workstations, and personal training, this field can become a good tool for newcomers in the health and wellness industry.
Yoga is an art that needs to be taught and instructed safely. A lot of personal practice is the key to mastering this field. Renting out space in local areas for classes, or contracting with a gym or community centre to use their facilities are the popular options for starting a yoga teaching venture.
Selling Beauty, Health and Wellness Products
In the field of beauty and health, commodities like herbal products, supplements, clothing, organic foods, etc., can be sold viably. In industrial products, young entrepreneurs can decide which field to work in from the vast array of products and services. For example, a good chef with good nutrition knowledge can enter the business of nutritious meal planning and delivery.
Immense growth prospects with not much downside
Indians are increasingly becoming aware of the harmful consequences of modern lifestyles. The concept of healthy fitness has a bright future, as there is no age limit for the target audience.
Companies like VLCC, Truworth, Meta Wellness, Herbalife, Healthgenie and other brands are making great deals in this arguably untapped market. With a new rush of budding entrepreneurs, it is possible for this idea to incorporate countless concepts and take the business to a new level.
The potential in this area is immense. As a business owner, all you have to do is define your field and sell it to someone who needs or wants it.