If you’re considering buying a franchise, you’ve likely noticed there are many choices. From restaurants to retail stores to automotive franchises, you have thousands of options available. So, when you’re making your next business move, what are you looking for?
Most prospective franchise owners would put growth potential and profitability at the top of their list when searching for a franchise to buy. If you’re seeking high-growth opportunities, consider health and wellness franchises.
Explore the following 3 reasons why health and wellness franchises are growing, and learn how to tap into this expanding market.
There is a built-in market.
People from a wide variety of backgrounds, incomes and lifestyles take interest in the health and wellness industry. Health impacts everyone, and as a health and wellness franchise owner, you’ll help all kinds of people live healthier lives.
Many people in the Baby Boomer generation have reached retirement age, and as they get older, they’re facing more health issues. In fact, the Census Bureau reports that as of April 2010, more than 40.3 million Americans were 65 years or older, more than any other time in history. As the population gets older, their need for health-related products increases. So, when you invest in a health and wellness franchise, you have a growing population of consumers ready to buy.
The industry is booming.
Have you looked at your social media profiles today? If so, you may have seen a post about a healthy recipe or a new workout trend. From Pinterest boards about improving and maintaining health to entire Instagram profiles detailing fitness trends, the Internet is filled with users focused on health. So, it’s no surprise that the health and wellness industry is a $112 million industry – and growing.
Unlike other trends that may be fleeting, a focus on health isn’t just an activity. It’s a lifestyle. As a franchise owner, you’ll work with people who value your products because they facilitate their wellness-conscious lifestyle. They’ll spend more on health products because it’s an investment in a healthy lifestyle.
The need is pressing.
When consumers are working to resolve health issues, they’re often highly determined to find a solution. For instance, if they’re facing weight-related issues, they’ve likely spent significant time and energy on doctors’ visits and diet plans. These customers are tired of solutions that aren’t working. When they walk into a health and wellness franchise looking for results, they’ll likely make a purchase that day.
These customers are also prone to spend more for the results they’re seeking. For example, if someone is suffering from back pain, they may be more willing to invest in an ergonomic chair to relieve their pain.
Health and wellness franchises are achieving higher levels of profitability, and they’re not slowing down. As you select a franchise to buy, keep health and wellness in mind as an industry that facilitates growth.
Learn more about finding the right franchise to buy with a free consultation.