The emerging market of wellness industry in India is creating a great platform to come up with a great business plan. The current market is promising a compounded annual growth rate of at least 17% every year. As per the report from FICCI, this year the total value of the wellness industry in India will cross INR 80,370 Crore. In fact, the market is going to skyrocket and reach INR 1.5 Trillion by the end of 2020. This immense rise in the market will be aided by the continuously growing consciousness of the urban population regarding holistic wellbeing. This is why a business idea related to wellness sector will be a brilliant one to adopt.
Initiating a wellness centre business model
The wellness and beauty market is raging the Indian industrial platform with latest innovations and adoption of natural products. The introduction of natural remedies with herbal products, fitness, diet consultation, etc is catching the attention of the urban population very fast. The aggressive growth is also supported by the escalation of disposable income of every individual.
Chalking out a business model for a wellness centre is similar to that of other businesses. All you need to do is to follow a specified path.
Location
You have to find a perfect location for the wellness centre. You need to check how much competition you have to overcome. This is a new idea in the Indian sector which is why it will give you an extra edge to achieve quick success. All you have to do is to find a good location where the volume of footfall is high. It can be reached very easily via different means of communication. It is better to start with a metro city in order to earn good response quickly.
Budgeting
The budget will depend on things you want to include in your venue. If you are looking for a diet consultation section with a fitness floor then your budget will be likewise. The addition of more features will also increase the budget. In this case, you need to research what will be the prime features you want to add and then go for an improvement.
Franchising
Probably, this is the ideal way to overcome the stress of making a business centre model. All you have to do is to set a place that matches the criteria of the brand of your choice. The names worth mentioning in this aspect are:
- Samatva Wellness- This is a new brand operating from Delhi and offers franchising options for creating a wellness centre with solutions for nutrition, fitness, bodywork, acupuncture, etc. The brand will train and assist in the development of the centre in the proposed site. This option needs an area of 3000 square feet to start with.
-Aarogyam- This brand offers approved natural products for maintaining wellness and preventing diseases. The items can be brought into the plan with a nominal budget in order to increase the credibility of the centre.
-Samai Tha Spa- Introducing spa and salon services in the wellness centre will bring an international feel in the ambiance. It will be easy to impress the customers too. All you need is to spare 500 square feet of space and only INR 5 Lakh of your budget.
-SDF Holistic- This is a brand that brings a heavier note in your wellness centre. It offers great infrastructure to cure lifestyle diseases like high blood pressure, diabetes, cardiovascular diseases, skin ailments, etc. The brand has also won a lot of recognitions for its service. From 2013, it has started giving franchising opportunities.
There are many other options to consider. The name you choose will decide the training of your team. The total organization of the infrastructure will be aptly done by the brand. Staffing will be done as per the criteria of the franchisor.
Facilities
You can start simply by adding a fitness centre and a diet consultation section. Eventually, when the idea kicks off, you can approach a spa and grooming brand in order to make the venue an all-in-one package for the customers.
The wellness centre business modelwill have this set of attributes to consider in the beginning. A simple plan will attract simple finance. Figure out your financial strength and what you are going to provide in this wellness centre.
