With an estimated global value of $4.3 trillion, the fitness industry is one of the fastest growing sectors in the world. Key areas of the wellness industry include fitness and mind-body and healthy eating, nutrition and weight loss.
And there seem is showing no sign of slowing down. Fitness brands are moving beyond the typical and are engaging in their member extensive lifestyle needs. Through personalization, artificial intelligence, and community-led offerings, fitness brands are becoming a holistic, fitness and wellness-orientated experience.
More and more people are concerned with their weight, wellbeing and overall health. This means they are willing to spend money on products and services to help them look and feel fantastic. In this article, we will be talking about the importance of building a brand and the hottest up and coming fitness business ideas for 2019.
1. Brand Building
Probably one of the most on-trend fitness business ideas currently, fitness brands are becoming household names solely defined by their unique offerings. Building a brand helps you to be differentiated from your competition and allows you to connect with customers on both a physical and emotional level. Brands generate trust and loyalty with 43% of customers in the US spend more money at brands they are loyal to.
It’s 2019, and there’s no shying away from the fact that technology is becoming a crucial part of success in the fitness industry. Take a look at the likes of F45, Orangetheory, and Tough Mudder, and you can see that a lot of their success has come down to their strong branding. And a big part this is having a branded app to connect with their members. As most of them live their lives online, having a branded app is absoulutely essential. Businesses are taking advantage of improved connectivity, streaming capabilities and tapping into Millennials desire for personalization and freedom.
Compared to 61% of Boomers, 81% of Millenials exercise or would like to. Millennials use apps more than any other age group with women using them twice as much. As a business, the more people that see your name and logo, the better! In the 13th Worldwide Survey of Fitness Trends for 2019 fitness apps gained 15 points from the last survey show
2. Health Coaches
A health coach goes beyond fitness. They encompass all aspects that can help you lead a healthier life like nutrition, exercise, relaxing, overcoming stress and weight loss. Health coaching has emerged as a giant $6 billion service industry, with a healthy growth outlook. Health coaching is a relatively new occupational field. As more people are becoming more health conscious, an integrated approach to wellbeing is needed to help patients be the best version of themselves.
There are multiple components of health and fitness involved in health coaching. Therefore a background in fitness or health care is essential. Successful organizations for health coach certifications include the National Society of Health Coaches, Dr. Sears Wellness Institute and Wellcoaches School of Coaching.
3. VR Fitness
Technology has disrupted the fitness industry with more people than ever using fitness devices and wearables. Taking that technology into the fitness room is the next step. VR fitness creates completely immersive classes using computer-generated landscapes. Brands are already jumping on this such as Black Box VR, a fully immersive virtual reality gym experience based in San Francisco. Immersive fitness has the power to turn your gym workout into a game.
4. Personal Trainers
The personal trainer industry reached a revenue of $9 billion in 2019 with an annual growth of 1%. The demand for personal training is high and a great way to get involved in the fitness industry. Before you start seeing clients, you’ll need to get certified by a reputable organization like the American Council of Exercise or the National Academy of Sports Medicine.
With personal training, there is the option to specialize in a specific target market, for example, helping senior clients to protect their bones and prevent injury. You’ll need to decide whether you will rent a space to see clients or you might have a home gym already set up. As a small business owner, make sure you have the right qualifications, permits, and insurance in place before you begin.
5. One-Stop Shop Wellness Centers
A one-stop shop wellness center caters to all of its clients’ holistic needs. It’s more than a fitness club; a person can go from the gym and head straight to the cafe to catch up on work emails then hang out with friends. For example, if your audience is mainly working mums, then creating a family space and creche so that the child can be looked after while the mum gets some well-deserved pampering and gym time in, is essential. A premium fitness and wellness center covers everything while creating a sense of community.
6. Health and Wellness Retreats
Wellness tourism is one of the fastest-growing tourism markets. Gone are the days of lying next to the pool with a cocktail, it’s all about healthy holidaying now. Health and wellness retreats are a niche market that is rapidly expanding with many mainstream hotels and providers jumping on the wellness bandwagon.
Dedicated and focused retreats are popping up all over, to help a specific need. From preventative wellness retreats and active lifestyles to divorce, sleep, and Ayurvedic retreats. You could either organize a retreat for a private group or even offer a corporate retreat.
7. Yoga Teachers
The revenue of the yoga industry is worth an estimated $9.09 billion in the U.S. The love of all things yoga is here to stay, and it’s a great time to do your yoga teacher training and get on board. If you have the space available, teaching from home is an option. You could also rent out the class space, teach drop-ins at your local gym or organize yoga in the park.
Remember to diversify your schedule and keep up to date with the latest yoga trends. Right now popular forms include aerial yoga, chroma yoga, and eco yoga. Many instructors have also taken advantage of digital yoga by providing online videos and tutorials for members on the move, creating the convenience of yoga and adding value to your business.
8. Massage Therapists
With today’s manic living, anything that helps to tackle stress, anxiety, and tension is sure to be a winner. Almost 40% of Americans are more anxious than they were in the previous year. According to the American Massage Therapy Association (AMTA), massage is estimated to be a $16 billion per year industry. As a massage therapist, you can focus on several areas from physical and sports therapy to sleep and pregnancy massage.
The initial step to offering your services is becoming qualified and getting a license. If you plan on having a home business, you’ll need to invest in a massage table and any other essential equipment.
9. Healthy Meal Kit Delivery Service
Meal delivery services are gaining traction. Meal kits are predicted to hit $10 billion in revenue by 2020. Recipes and ingredients are packaged in exact quantities with easy-to-follow recipes and delivered straight to your door. Healthy eating is part of a healthy lifestyle, by taking out the need to go shopping and meal plan, a meal kit delivery service offers complete convenience.
10. Dance Studios
Dancing is a popular way to exercise and keep fit. There’s a power in the community atmosphere that dance creates. Open a dance studio to teach dance, offer workshops and run classes. Keep your schedule diverse and offer fun and exciting classes that appeal to your customers. Some of the most popular dance trends at the moment include cardio dance, pole dancing fitness, and Bollywood dance fitness.
11. Fitness Courses, Tutorials and Podcasts
Learning from where you want and at your own pace is very attractive. Many people have taken an interest in their own wellbeing and often want to learn more about it. Whether that’s through videos or a quick home study course to get them up to scratch. Providing learning materials in the health and wellness industry has the potential to be a very successful online business. Alternatively, this could just create an additional stream of income to a service you already offer.
12. Personal Chefs
Many people like the idea of eating healthy but can’t, for some reason or another, always follow through. This is where a personal chef comes in. This is considered a far more luxurious service and while the customer pool may be more limited it is far more targetted. As well as serving individuals, catering for group events is an option. Healthy dinner parties are all the rage. Catering for dinner parties and serving up plant-based goodness or an entirely gluten-free range is an excellent way to widen your customer net.
13. Home Workouts
For a certain market, offering the convenience of being able to work out when you want and where you want is a must. Brands such as Peloton and FiiT stream workouts live, on demand and in your living room. These brands allow you to train with instructors from across the globe, receive live feedback on your form and get motivated all without leaving the house. Customers can track their progress through branded apps as well as receive personalized training plans. Creating a package that offers customers convenience and premium services at the same time is vital.
14. Wellness Festivals
Wellness festivals are big business. Young people are drinking less and more interested in their overall wellbeing. Wellness festivals are a significant piece of the wellness market with almost every city in the U.S hosting some kind of annual wellness festival. Celebrations of holistic living have the power to generate hundreds of thousands of dollars. Putting on a wellness festival is by no means an easy feat, but the rewards could be massive.
The idea for your new health and fitness business is just the first step in creating your empire. Pin down your area of expertise and build a brand that’s unique and offers customers an experience they will remember. When it comes to starting your own fitness business, the possibilities are limitless.