The industry of health and wellbeing is growing considerably with growing awareness regarding mental health and physical fitness. Responsibilities towards our family & job, catering to personal needs, maintaining a good social life, and so on can put us in a stressful and vulnerable position. Amidst our duties, we often forget to take care of ourselves, resulting in bottled up emotions and harmful behavioural patterns. Therefore, we as humans need support, guidance and motivation to take care of our commitments, health recovery goals, and holistic wellness.
Scope of business in Health and Wellbeing
There is a wide range of scope for business within the health and wellness industry as it is growing at a striking rate with the present valuation of $ 8.14 billion. Today, people are awakening to their need for professional guidance on living a healthy lifestyle, primarily due to the growing enthusiasm towards healthy living amidst the pandemic. People have started realising the importance of health and the repercussions of a negligent perspective towards it. Hence, people across the country and globe are reaching out to health & wellness coaches with growing awareness about it to secure their health goals and that of their loved ones.
Steps to take to lay the right Foundation for setting up your Health & Wellness Coaching Business?
1. Realise your social responsibility: When you’re opening a business in the field of health and wellness, you need to think of a profitable business model that also accommodates the kind of social responsibility you will have to act upon. In simple words, you need to realise that there must be a balance between your welfare objective and making profits.
2. Understanding the implications of Health & Well-being: You need to know what you’re getting into. Study about the meaning and need of health and wellbeing. Deeply explore different fields of it and find what resonates with your life’s purpose. You can read articles, case studies and business analysis for better reference. Let your mind think freely and try to come up with an individualistic and unique perception of Health & Wellness, which is not bounded by conventional ways.
3. Market research: It is one of the essential aspects of setting up a business. Before establishing a full-fledged business in health and wellbeing, you need to improvise your research. It includes analysing the following assertions:
- Examine the scope of health and wellbeing in your city/locality.
- Would people want to invest in health and wellbeing?
- Your target audience (Gender, age group)
- The kind of services you want to offer
- The cost of your services and other logistics
After analysing these aspects, compare your prices and quotations with those of your competitors and develop a reasonable plan. Think from your prospective client’s point of view and come up with a plan that is oriented to satisfy their needs. After all, that will be your biggest asset and the foundation of your business.
5. Come up with a catchy name and tagline: After understanding the meaning and doing the market research, come up with a name and tagline which highlights what your business stands for. It plays a vital role in attracting prospective clients who understand what you offer and make your brand stand out.
6. Talk to health professionals and wellness coaches: Contact trained, skilled and experienced health and wellness coaches to understand people’s psychology better when it comes to health. As communication forms the crux of a client-coach relationship, learning from other experienced coaches can offer deep insights that can be applied for generating great results for your client and laying robust building blocks for your business.
7. Create your own community: People answer well to communities as it helps them engage, interact and seek support. Try to make your community as inclusive as possible for people to perceive it as a safe space to seek aid.
8. Establish Connections & constant sponsors: Reach out to people with similar objectives, business model and plan of action for the purpose of sponsorship and collaborations. For collaborations and market-related purposes, you can contact social media influencers, mental health advocates, fitness coaches and so forth.
The bottom line
Establishing a business can seem intimidating at first, especially in a field wherein your primary purpose of helping others shall ever remain uncompromised. However, stick to your objectives and remember that small steps often lead to significant results.
Weljii’s Health & Wellness Coaching Program
Setting up a business in the health & wellness domain is only attainable personally as well as legally when one has the necessary expertise and certification to empower your entrepreneurial dreams. Weljii, India’s premium health and wellness coaching institute, offers 100% online health & wellness coach certification programs to provide you with all the necessary resources needed in this journey of yours-tools, mentorship and a close-knitted community.