Are you looking for unique ideas to turn into a business venture in health and wellness sector? If so, here’s a niche small business idea for you: Small business wellness.
Wellness in the workplace is a rising trend. Offering wellness program to a niche market of small businesses will be a lucrative venture. As a wellness business owner, you can encourage small business owners to take good care of their employees’ health and well-being, which potentially reducing healthcare and sick-pay-related costs, improving productivity and reducing sick leave.
The case for wellness?
So, how to justify that wellness for small business is the perfect niche for you? Here are some reasons:
1. Healthier employees = improved productivity and reduced absenteeism = lower healthcare/compensation-related costs
Rising healthcare costs are major issues small business owners worldwide need to address, mainly due to the Government’s healthcare laws and regulations. This will push small business owners to find better alternatives, and wellness program is should be on their idea book.
The premise is pretty straightforward: If your employees’ well-being is well-taken-care-of via workplace health programs, they will be more healthy and productive, which in effect reducing health-related costs AND improved bottom-line.
The above makes launching a wellness program for small business makes sense.
2. Health and wellness is a US$ 1 trillion industry in 2017
According to Euromonitor International, health and wellness industry is a strong-growing industry, which will be a US$ 1 trillion industry in 2017. The strong growth is spurred by the fast growing health and wellness market in China, Brazil and USA.
3. Outsourced wellness program is a trend in 2013
There is a strong trend of outsourcing employee wellness to local fitness and health clubs this year. If you currently own a fitness or health club, it’s about time to start offering corporate wellness programs. When you are a budding entrepreneur, it’s time to grab your share of the market by starting a small business wellness venture.
Case study: Trotter Wellness’ Small Business Wellness Program
In a press release, Trotter Wellness officially announced the launch of its latest wellness program, Corporate Wellness Essentials.
The wellness program is a self-service, web-based wellness program offering participants health and wellness tools to help them live healthier lives.
The program is actually developed with small businesses in mind, but it can also be a great solution for their larger counterparts.
Patrick Trotter, President of Trotter Wellness, launch the new program to fill the gap in the wellness marketplace. “Running a small business can be hectic and we understand it can be difficult to balance employee’s health and productivity on top of your other priorities… After 10 years of work perfecting wellness programs for large organizations across the country, we decided to take what we knew… into a solution for small businesses… ” said Mr. Trotter.
Takeaway
As lucrative as small business wellness sounds, the key to your success is your partnership with small businesses, as well as local fitness centers and health clubs.
The gap in the market is yet to be saturated, and it’s you chance to establish your business as one of the leaders on the niche.
Photo credit: Edson Hong via photopin cc
