It’s been one of the hottest niches since the invention of the internet… since the beginning of recorded history really: health and wellness. People, no matter what their background, culture, or economic status… want to be happy and healthy. And they are willing to buy products or treatments that will help them do that.
It’s one of the best markets out there for doing business online. In fact, health and wellness is a $4.2 trillion industry globally! That means there’s plenty of room for new businesses. And you can get your piece of that pie now.
Note: A common mistake many budding entrepreneurs make is avoiding going into a market because they feel it’s too big or too crowded. The reality is if a market is large with a lot of players in it, it’s because it’s a healthy profitable market with a lot of money to go around. The health and wellness industry is no exception.
Solo entrepreneurs like you can succeed, working from home or wherever you happen to be with your laptop. There is little or no startup cash needed, and it’s a low-cost business to run… if you do it the right way.
The evidence that this is a profitable market is all around you. What is one of the most popular stores in your local shopping plaza? The one selling vitamins and supplements, right? TV infomercials featuring pills for various ailments are on 24/7. Books about better health are flying off the shelves. There are more health and wellness websites on the internet than you can shake a stick at!
There are so many different markets… so many different sub-niches in the health industry, too. People getting older want relief from arthritis. Folks with chronic conditions like diabetes want to get better and get rid of those needles. Overweight folks facing multiple health issues want to shed the pounds. Those with back pain want to be able to live a normal life. Not to mention people want to extend their life by taking supplements, vitamins, and more with anti-aging ingredients.
Alternative health — which rejects much of the prescription medications and invasive treatments of mainstream medicine — is especially popular and continuing to grow every single day.
You might be asking: I’m not an expert in health… how can I run a health-oriented business?
The great news is whether you’re a qualified health professional, someone with an interest in health, or don’t have any knowledge of this market at all but are interested in starting a business in this niche, there is an opportunity for you to do just that.
Identify the Top Health Niches — Market Research
When it comes to your business’s niche, it should be in an in-demand profitable niche market so you know you’ll sell. Ideally, you’ll find a niche you’re passionate about too. Perhaps a condition you suffer from. Or an issue one of your family members has faced.
Remember, you don’t have to be an expert or professional in order to make profits in a market. You can share your own personal experience, do research and publish the information you curate from other sources, and/or interview other experts to provide content and information for your market.
But remember that you want there to be demand. So study industry trends, study the best-seller lists on sites like Amazon, see what’s selling on late night infomercials and on store shelves. What’s on daytime TV talk shows? What are people talking about on Facebook? This should give you a long list of products that are trending right now for you to center your business around.
Let me give you a shortcut. Here are some of the top niches in the health market today:
- Digestive health/healthy gut
- Weight loss
- Back and neck pain
- Hair loss
- Reproductive health
- Healthy eating
One thing you’ll probably notice is that these are all topics that aren’t going away anytime soon. One mistake a lot of people make when entering the health and wellness market is that they’ll jump onto a fad trend (like a fad diet).
You want to be sure that what you’re doing is an “evergreen” topic, one that will have staying power and stand the test of time.
This doesn’t mean that you can tackle, address, and profit from fad trends as they come and go, you just don’t want your entire business to be based around a fad or trend.
Finding Products to Sell in the Health Niche
The great thing about having an online business in the health niche, or really any e-commerce niche really, is that you don’t have to create your own products. In fact, you don’t want to, especially as a newcomer to the industry, because of the time, money, expense, and risk involved. Instead, you’re going to leverage the work and expertise of others. And don’t worry — it’s a good thing.
You have a couple of options when it comes to making money online in the health niche without creating your own products.