Personalized health and wellness services have been in high demand for decades. People want them because they provide a high level of customization for their unique needs. They also prefer service providers who understand what they need and will hold them accountable for their health and wellness goals. And they’ll want these services well into the future.
In fact, Americans are prioritizing their well-being more now than ever before and the franchise industry is responding. Health and wellness franchises are growing rapidly, fueled by new consumers who are spending more money on improving and maintaining their health and well-being.
If you’re an entrepreneur who prides yourself on a healthy lifestyle and you want to help others to do the same, owning a health and wellness franchise may be the right path for you. Here’s why.
The Health and Wellness Business Is Booming
Wellness is a staggering $4.5 trillion industry worldwide, according to the Global Wellness Institute (GWI), a nonprofit research and educational resource for the world wellness industry.
GWI recently released a report on the “physical activity economy” that includes the fitness, sports and active recreation, mindful movement, equipment, apparel/footwear, and technology markets. They estimate this economy will surpass $1.1 trillion by 2023, with mindful movement as the number one growth sector jumping from a $29 billion market to $52 billion (a 12% jump annually from 2018–2023). Technology will be the second-fastest-growing market (8.6% annually), expanding from $26.3 billion in 2018 to $39.8 billion by 2023.
Americans are recognizing the value of a healthy lifestyle and are willing to spend extra for quality products or services:
- that support their sense of well-being
- that are convenient for them to consume
- that provide an elevated experience
Health and Wellness Businesses Have Built-in Protection Against Disruption
Many health and wellness services are difficult to deliver virtually, safeguarding the entire industry from having to alter the customer delivery model. Since it’s pretty impossible to get a massage from a therapist during a video conferencing session, for instance, it’s likely the hands-on delivery of many health and wellness services will continue. And the physical, brick-and-mortar places where consumers can receive these services will remain.
Managing and Scaling a Health and Wellness Business Can Be Easier
Experts say health and wellness concepts run from the cleanest, simplest franchise model, offering a stable business that can be easily managed and ready to grow.
While most franchisees manage five core costs, including rent, labor, marketing, general business expenses, and cost of goods sold, many health and wellness franchisees only have four, eliminating cost of goods sold, which could be the hardest cost to manage. Simplifying the business model in this way can enable franchisees to manage their health and wellness franchises more easily.
4 Simple Ways To Excel at Owning a Health and Wellness Franchise
- Tap Into Your Passion
Look for health and wellness categories where the services speak to you, your expertise, and your skill. Then make sure you’ll be offering quality services that everyone wants (see number two).
- Cater to a Wide Range of Customers
Along with offering high-demand services, make sure your customer base is diversified, meaning there’s a wide variety of people who enjoy coming into your franchise. When so many are interested in these kinds of services, though – be careful about being all things to all people. Learn where your franchise fits in and make sure your best customers regard you as the expert in that category.
- Rise Above The Competition
Make sure your business stands out to your perfect customers, all the time. Never lose sight of the quality of your services or your expertise in offering them. Tap into your franchisor’s marketing and support system to help.
- Be Choosy About Your Brand
Beware of the potentially short-lived health and wellness services that are out there. Protect yourself with an investment in a brand that has been around for a while, is credible, and has a track record of success.
Health and Wellness Franchise Opportunities at America’s Best Franchises
It’s fun and easy to dream about your health and wellness franchise opportunity on America’s Best Franchises. Our concepts are organized in six different categories:
- Anti-Aging & Wellness
- Fitness Franchise Opportunities
- Massage Centers
- Medical Spa Businesses
- Medical Testing
- Weight Loss Franchises
From there, you’ll find loads of on-trend and successful franchises ranging from:
- Personal care, anti-aging and beauty, non-surgical regeneration, infrared light therapy cryotherapy, services for seniors, the injured or the disabled, and more
- Gyms and other fitness-focused franchises like rowing, boxing, yoga, Pilates, stretching, indoor cycling, kickboxing, and more
- Spas, healthy vending, and even healthy delicious food options
- Drug, alcohol, and DNA testing lab services, medical equipment repair and service franchises, and more
Plus notable health and wellness franchises like these:
The DRIPBaR – IV vitamin infusion therapy
Find a Health and Wellness Franchise That’s A Perfect Fit
Becoming a business owner is a big deal. With thousands of available business and franchise opportunities for sale, finding the perfect fit can feel like the hardest part.
America’s Best Franchises is here to help you narrow your search based on budget, location, skills, and passion, everything you need to find the franchise opportunity that’s just right. We focus on you – your interests, your capabilities, your goals, your needs – enabling you to discover the franchise you didn’t even know you’d been dreaming about. Find a perfect-fit health and wellness franchise now.