The wellness industry is worth $3.7 trillion and is expected to grow at a CAGR of 17% in the next five years. Read on.....
From being the land of ‘ayurveda’ to becoming the next emerging hub of medical tourism, the Indian fitness industry has evolved through a long stretch of time quite drastically, thanks to the ever-evolving technologies and trends. Statistically speaking, the wellness industry is worth $3.7 trillion and is expected to grow at a CAGR of 17% in the next five years.
The urge of becoming a healthier living being in the consumers has given the fitness industry a lot of new avenues to explore. A lot of new concepts like health coaching, personal training, dance studios and Zumba have emerged from these avenues and have opened doors for aspiring entrepreneurs in this field.
In this article, let’s explore these trending business ideas in fitness industry in more depth.
Just to know how extravagant this business idea is, consider the fact that the global health coaching market is itself estimated to be worth $6 billion. Those who acquire expertise in the field of fitness and health have a lot of scope in a health coaching business.
What a health coach does is that he/she guides consumers regarding their queries on health related issues. This could be a rewarding business due to increasing number of people facing physical and mental issues that arise due to lifestyle change. A proper business plan and a good marketing is all that is required as investment.
The paradigm of fitness has largely shifted from that of acquiring a heavy-weight body to that of maintaining health from within. People have started acknowledging the fact that the requirement of every other body is different. And therefore, personalized training is essential.
Personal training has now become a concept that seems to be constantly trending throughout the time. People are willing to spend big bucks to maintain their health by getting personal training, hence the industry is flourishing.
When the mind and body tends to give up on things, escapism always comes to rescue. Dance, an art form which helps individuals in escaping from the traumas they suffer in life, has taken a long jump from being performative art to a way of maintaining fitness. The concept of dance studio is very much in trend because of the recreational vibe it has. People are forthcoming to reap all the health related benefits of dancing and this makes dance studio a great business idea.
Another form of dance, Zumba is an exercise fitness program that involves dance and aerobic movements performed to energetic music. This dance form has especially keeping the fitness factor in mind as it is a total-body cardio and aerobic workout that burns 300-900 kcal of a person in an hour.
Zumba is gaining a massive popularity among millennial and is growing to become a lucrative business opportunity for those who have an expertise in it.