A Few Tips
You are probably here because you have an interest in starting a business in the health and wellness industry, so here are a few tips to get you started before getting into our best thinking for your business.
Find Your Focus
This is going to be the first step. The focus is on what helps determine what kind of service or product you are going to provide. In the health and wellness industry, there are several ways to go, including something more clinically focused or spa focused, for example.
Determine Startup Costs
This is going to be the amount of money you need to get started. Consider the initial and monthly costs of the rent for any office space you may need to secure along with the costs of materials for any business cards, letterheads, flyers, or brochures you need. Also, factor in the costs of building a website, obtaining a web host, and securing a domain.
In addition, you should also take into consideration any costs there may be for owning your business. For example, are there additional taxes you have to pay? Do you have the income to continue to live comfortably while building your business?
Identify a Target Audience
When you have a clear focus, it will be much easier to identify your target audience. When identifying your target audience, make sure to pinpoint what is also going to set you apart from your competition.
Obtain Proper Licenses
You want to familiarize yourself with the laws and licensing requirements in your state. You need to make sure that your business and any contractors you hire are fully licensed by the state you are in.
Naming Your Business
Finally, when it comes time to name your company, make sure that the name is available through your state’s Secretary of State directory and then develop your logo and website to promote your new business. To help you with your name, you can also use a business name generator to help you come up with ideas.
Check the Competition
Always research other businesses in the area that are offering the same products and services as you. Check out their website, their pricing plans, and do some research for who their ideal customer is. Having all this information will help you position and grow your own business and establish your own health and wellness career.
Here are some ideas to get you started, categorized by business type.
Health and Wellness Business Idea: Personal Services
Mobile Wellness and Health Tracking Apps
If you’re into technology, why not partner with a developer to create an app that supports health and wellness? You could create an app for nutrition, fitness, healthy habits, quantified-self, buying guides, corporate wellness, connection with other health-minded people, and more.
Books (Print + Digital)
If you love to write and have the expertise to share, you can write and publish your own book. While a single book probably won’t be enough to replace your full-time income, you can write a series of books, or use your book as a lead generation tool to book speaking engagements or 1:1 clients!
Software to Support Wellpreneurs
As the wellness industry grows, so do the needs of wellness practitioners. Consider creating a software product to support wellpreneurs in growing their businesses – for example, software for working with coaching clients, managing an email list, or creating amazing meal plans are just a few ideas.
Health + Wellness Blog
Yes, there are lots of health and wellness blogs – but when done well, a wellness-based blog can generate income, replacing your full-time income if your site became popular enough.
But you need to understand that simply writing a blog doesn’t generate income. The key is to build your audience.
Once you have a big enough audience, and you’re a trusted, credible blog, you can then generate revenue through advertising, selling affiliate products, or even creating your own online products and courses.
Check out other blogs or consider hiring a social media consultant to make your content compelling.
Health + Wellness Podcast
If you love to interview people and don’t mind the sound of your own voice, consider starting a health and wellness podcast. While the podcast alone doesn’t generate revenue, once you have an established audience, you can sell sponsorships or advertising, recommend affiliate products, or even sell your own products and services through your podcast.
Media Hub for Wellness
You could create a media site that becomes the ultimate source for a specific type of health information. With a media site, you might work with other experts as guest writers to create authoritative content for your site.
Like the other online business ideas above, your revenue potential starts when you’ve built a big enough audience for your site. Then you can sell advertising or affiliate products, run online courses, workshops, or seminars, or branch out into books and other products to expand your online brand.
Of course, having a great idea for your wellness business is just the first step.
Next, you’ll want to connect with some people already running that type of business and talk with them about their experience. Listening to interviews with successful wellpreneurs can also be really insightful.