Health and Wellness - One Red Hot Industry That's Getting Hotter

So What's So Hot About Health and Wellness?

Lots of people are thinking about launching a home based business.

With the economy the way it is, and unemployment rates growing, it’s no wonder some are turning to a home business as a way to make a living.

But how do you decide what to do? So many choices out there, so many “business opportunities” screaming “I am the best opportunity-make lots of money…fast…easy…overnight…” and on and on it goes.

Hopefully you’ve gone through our other articles to help you and guide you down the path that’s right for you.

When you’re trying to decide what type of home business you want to set up, of course it’s a good idea to take a look at what industries are hot – and will continue to grow.

We’re going to focus on an industry that has absolutely exploded – and is anticipated to continue to grow for years to come - the Health and Wellness Industry.

People who have become involved in this industry are finding it Extremely Lucrative and are poised to do quite well financially in the future.

The Health and Wellness Industry is concerned with prevention of illness and disease.

This is different from Health industry which includes doctors, hospitals, pharmacies and pharmaceutical companies. This industry focuses on treating the symptoms of illness, and not on prevention of sickness, and or helping people feel healthier.

The Health and Wellness Industry is expected to be a $1 trillion dollar industry by 2010. This industry includes nutritional supplements, juices, health/fitness clubs, chiropractic, naturopathy, homeopathy, and holistic health care.

So what are the forces making the Health and Wellness industry so hot?

1. The economic downturn has affected peoples ability to spend money on insurance, doctors visits, and hospital stays. People are focusing on prevention of sickness and disease:According to cNMI (Natural Marketing Institute ) President Maryellen Molyneaux:

“NMI research clearly shows that the current economic downturn is changing consumer behavior on many levels, including spending related to health and wellness. So while sales in each category continue to grow, consumers are becoming more discerning and are looking for real value in their purchases and not just the perceived value. This shift in behavior will impact manufacturers and retailers not just short-term but also in the future. With the economic future unclear, NMI projects that the health and wellness industry as a whole will remain relatively stable over the next five years at approximately 7% growth each year.”

"Went to the Doctor - The Doctor Said..."

Many people feel that what traditional medicine does best is treating emergencies, not preventing illness in the first place.

Time for another disclaimer...

We know doctors who are whole heartedly embracing Health and Wellness - and there are more and more of them every day.

Many Doctors and scientists have dedicated their lives to finding natural "cures" for common "dis-eases" and have embraced a natural approach to treating people's conditions.

There are times when pharmaceutical solutions are best and we are not in a position to determine things of that nature...

We're not doctors - we're just passing on to you the research we've done. The rest is up to you.

2. Pharmaceutical concerns – there is growing mistrust in the general population towards the pharmaceutical industry.

Side effects of medications are often serious, and sometimes even lethal.

Lawsuits and product recalls are making people leery of just taking a pill in hopes of getting better. The majority of prescriptions are merely to treat symptoms of sickness, not in curing or preventing disease.

This is creating lifetime customers. Pharmaceuticals are being designed to be taken for life – and people are becoming aware of the dangers of this to their health.

3. People are living longer. And they want to be healthy doing it. Life spans keeps getting longer , and people are willing to invest in their health more now than ever before.

They are seeking ways to feeling good, staying well, and having health and vitality – and are turning to the Health and Wellness Industry for the answers.

The Health and Wellness Trends Database (HWTD) states:

“Consumers continue to seek multiple ways to enhance their health to prevent disease, and to promote healthy aging. All of these drivers will continue to present opportunities for health and wellness marketers. Categories such as supplements, sports nutrition, and weight management will continue to experience growth through specificity as consumers are seeking products that answer their individual nutritional needs”.

4. Baby Boomers. These are people born between the years of 1946 and 1962 – according to the United States Census Bureau.

Boomers represent 28% of our population, and 50% of our economy. As this generation ages, the rate of growth of the elderly (65 years +) will explode between the years of 2010 and 2030.

These Boomers have strong purchasing power. They represent the richest generation in history. What are the concerns of the Boomers?

One of their main concerns is Health, looking and feeling younger.

They are turning to the Health and Wellness Industry to not only slow the aging process, but also to reverse it. It is fast becoming true that 60 is the new 40.

Boomers want to live their lives with health, energy, and vitality. They want to stay healthy to continue pursuing dreams, goals, and living a fulfilling life. So they are willing to invest in their health.

Many are also seeking to supplement their retirement, or just want to do something fulfilling, creating even greater opportunities. For more on this, check out our article on Trends.

Entrepreneurial Opportunities

“The revolutionary leaders in wellness are the entrepreneurs who grow and procreate wellness, the inventors who instigate wellness services and products. And the practitioners and distributors who carry the wellness message throughout society. Take your pick of how you want to be a leader of this new industry.”

So if you think this may be the industry for you, you have a great opportunity and exciting path ahead of you. There are many good companies out there, offering quality products and services.

As you look into the various business out there in the Health and Wellness industry, we think it’s a good idea to follow the advice of Paul Zane Pilzer.

• Pick a high quality product or service. He believes it’s a big mistake for the new entrepreneur to go for lower quality products or services, in the hope of making quicker and more sales.

Often it’s difficult to retain customers with lower quality products. And you’ll risk developing a reputation for selling low-quality products.

• Understand that information and education will provide huge financial opportunity for the entrepreneur.

When customers go to the local store to purchase Health and Wellness products, most likely there won’t be a salesperson there well informed about the products.

And many new and innovative health products are not available in regular stores. So how does the customer learn? Word of mouth.

Educating the consumer and sharing personal experiences will be a large part of this new industry.

• He suggests that Network Marketing and Direct Sales is the best models now for the Health and Wellness Industry for getting products and services out there to the public.

• “The most successful wellness companies today manufacture or distribute the highest quality – which often means the highest priced – wellness products and services.” Paul Zane Pilzer.

We have a great opportunity now to transform peoples health- improve their vitality, and longevity. And, depending on the business model you select, the chance to improve the financial welfare of others.

This is a powerful combination, and can really provide the entrepreneur with an extremely fulfilling, not to mention lucrative career.

Return From Health and Wellness to Home Page

best prenatal vitamins