Editor’s note: This article was first published in September 2011 during Spain’s economic crisis. The references to the recession, personal trainers being limited to select circles in Spain, and the pharmaceutical industry “already” entering the sector reflect that time.
People’s concern with staying healthy and full of energy as a form of prevention has already pushed revenue in the US wellness industry close to a trillion dollars. This industry covers many services and offers a wide range of opportunities for entrepreneurs who want to become part of this profitable business, which has already pushed the health industry into second place.
Consumers want products and services that help them strike a balance between vitality, serenity and beauty, since these three factors are considered closely linked. To stay fit and healthy, we’re increasingly demanding, as the revenue figures show, specific physical and mental exercise, nutrition, nutritional supplements and, more and more, Eastern therapies, which are being well received in Spain in these times of crisis.
This kind of industry doesn’t want you to stop seeing the doctor when you fall ill; it wants you to avoid falling ill, so you won’t have to go to the doctor. “Prevention is better than cure” is the slogan the wellness industry lives by.
How can we get into this business?
There are thousands of ways, hundreds of businesses any entrepreneur could consider. In previous articles we’ve gathered hundreds of business ideas related to body image, personal care, health and beauty, and even many franchises that are now among the most profitable franchises for 2012.
We’ve often pointed out that during a crisis, people tend to favour products and services that solve a need, a service that encourages saving rather than spending. With good marketing and a population that’s aware of the issue, these businesses have come to be seen as a form of investment in our own health that will save us some costs from illness in the medium term.
Personal trainers are in demand, and in the United States the job has become a luxury profession. We understand that in Spain a personal trainer may be limited to select circles, although little by little that select circle is getting bigger.
In the same way, new ideas have sprung up around this industry, such as the pocket trainer, with virtual programmes and personalised virtual support for a small fee.
Dietetics and nutrition are in demand, since these large centres and even gyms now employ professionals in this field to combine diet with exercise.
Beauty businesses show their success year after year as they launch and expand through franchising, with laser hair removal becoming one of the services most in demand among women. “Feeling beautiful on the outside makes you feel good on the inside.”
Who would have thought that in the middle of an economic recession, when people have to adjust their spending to the circumstances, consumer demand for Eastern therapy centres such as yoga and tai chi would rise by more than 37%?
This industry is so promising that our beloved pharmaceutical industry is already taking a position in it, just in case people one day no longer need to take lab-made medicine.
And let’s not forget that one of the most profitable businesses, despite requiring a large investment, has been spas, which, as we can see in Spain, keep growing and opening new centres.
Further reading: some health and beauty business ideas
- A military-style boot camp for losing weight
- Restaurants cashing in on the Dukan diet
- Ideas for food businesses
- The businesses of the next decade
Featured image: Jakub Hałun, CC BY-SA 4.0, via Wikimedia Commons.
