Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Health/Wellness. Wellness businesses can be lucrative if run the right way. If you’re thinking about running this type of business, or if you’re running one right now, it’s important to know how to make money with them. The following contributed post is thus entitled, 3 Ways to Make Money with a Wellness Business.
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Wellness is now a $4.2 trillion industry worldwide. If you’re an entrepreneur, it makes sense, then that you would at least consider the possibilities of getting into this market. A lot of people shy away from doing so because wellness seems to be everywhere, and they think that the market must be saturated by now, however, there are always opportunities to be had and as long as you’re willing to work hard and create a unique brand there is no reason why you could not launch your own wellness company and succeed.
If you like the idea of running your own wellness business, but you don’t know where to start, here are just some of the ways you could make money in the wellness business right now:
Sell Your Skills
If you’re looking to start your business on a shoestring, think about any skills you may have and see if you can monetize them. What would you use to form the basis of your startup pitch deck, in other words? The only costs you will incur doing this are your marketing costs and with the use of social media, these could be pretty minimal.
In terms of wellness, there are plenty of skills you can sell from teaching meditation to helping people start running, to life coaching. If you don’t already have these or similar skills, learning them can be very affordable, and building a business very doable.
Capitalize on Cannibis and CBD
It isn’t for everyone, but cannabis is now legal in many states and it is doing big business in all of the places you can buy. You might think that getting into the industry involves too much red tape, but you don’t actually have to sell cannabis yourself. In fact, you could potentially make a lot of money by simply selling cannabis accessories. If you visit trimleaf rosin press guide, for example, you will see that there is far more to this business than you might think and the accessories are numerous. If you don’t like the idea of cannabis at all, then consider the possibilities of CBD, which is non-hallucinogenic, completely legal in most places and a huge wellness trends which many people use for stress and pain relief regularly.
Now, with the cannabis scene being relatively fresh, it’s like staring at a crystal ball trying to figure out how it will unfold, particularly considering resources related to this field, such as the Daniel Fung arrest article. There are no guarantees in the CBD business. But here is the kicker: your local demand. It’s best to figure out how to stand out and ride this cannabis wave while ensuring you’re operating within your area’s regulations.
Slow Fitness
The slow fitness movement has been ramping up for a few years now, and it’s just about set to explode, which means it’s a really good niche to get into if you’re looking for a new business venture.
The slow fitness movement is all about taking it easy and taking recovery seriously when you have worked out hard. It’s all about foam rollers magnesium baths and percussive therapy tools such as Hypervolt, which you can read about at https://hyperice.com/hypervolt, and which can massively aid recovery and wellness. The good news is there is plenty of room for new and similar products to hit the market, especially if you can develop something which is even better at aiding recovery, and these products can be sold at a premium. This option will likely involve a greater investment but the rewards could be huge.
Whatever you decide to invest in, wellness is not going away and you have the potential to do very well for yourself!
