We’re approaching mid-year at a fast-and-furious pace. Most entrepreneurs have been clamoring to create a successful online business since the IoT (Internet of Things) started to really gain traction less than a decade ago.
With most of your competition hanging out online, perhaps you might want to do things differently. Indeed, there’s never been a better time to try to build an offline business – in health-based industries, perhaps?
Without further ado, here’s a few fast-emerging, health-based business ideas I wanted to share with you guys.
1. Green Homes
The green home building market is on the rise, due to increased public awareness about the state of our natural resources, combined with an all-round desire to live in a healthier environment. Green homes include cost-saving renewable energy features like solar panels and ground source heat pumps, stormwater collection systems; using recycled materials such as glass, cork, wheatboard, etc., for windows, flooring, cupboards, trim, and countertops – and much more, including non-toxic paints, insulation, sealers, etc.
I won’t get into an entire rundown of what’s needed to enter this space. Obviously you need experience as a contractor to begin with and/or a valuable team and finally, some capital behind you. This industry has been booming since the term “economic recovery” was still yet a forlorn dream in the minds of many US citizens, taking a 17% share of all new homes built back in 2011, and is aiming to exceed the $100-billion dollar mark by 2016 (source).
2. Green Foods
There wouldn’t be much sense in building green homes if you don’t back that lifestyle with green foods, right? While “green” is used as a catch-all for all things healthy, renewable and sustainable in the go-green movement; green food is mostly a literal reference to the color of the foods that health gurus, professional athletes, biohackers, and soccer moms across the world are looking to load up on. The green food’s industry includes everything from healthful, regenerative vegetables like kale, chard, lettuce, spinach, cabbage, and cucumbers – to specialty foods like green coffee beans, green tea, and green powder supplements for on-the-go types.
Unlike animal farming trends, like the ethically-farmed meat industry that’s gaining popularity, green foods use mainly resources that nature gives us to sustain. Greenhouses specifically, are a great model to implement if you’re considering dipping your toes in this mega-profitable industry. Learn more about choosing crops to grow and finding customers here.
3. Mobile Health Apps (Including Wearable Tech)
Health apps and wearable technology represents the next step in human evolution. Monitoring heart rate, blood pressure, physical activity, etc., help us to track how our bodies are doing from one minute of the day to the next, identify problem areas, and develop a game-plan on how to improve our all-round health. The health app industry has gone far beyond measuring basic vitals. People with food allergies want apps to tell them if a food item they’re about to eat contains ingredients they can’t have (such as gluten or dairy), semi-conscious college students want an app to track and help limit their drinking habits, etc. There’s so many needs to tap into here, including weight loss, muscle building, fitness improvement, increasing mental focus, and much more.
Whether you develop a standalone smartphone or tablet app that requires the user to input their information manual, or one that works in conjunction with wearable smart tech monitor, the profit margins can be quite high here. While building an app for free has never been easier, the competition to build functional ones has never been higher. So, the barrier-to-entry is very low, but some of the best apps have employed plenty of research, consulting with experts, and market research to achieve their reputation and profitability. If you’re interested, read 5 Reasons Health Apps Fail.
4. Mobile Food Vendor
This is one booming industry that I just had to mention. Mainly because the barrier-to-entry is extremely low compared to the others mentioned already, the profit margins are reasonably high depending on what you sell, and this sector of the food services industry is expected to hit $1.7-billion in the next five years (source). Granted, the opportunities aren’t simply limited to healthful foods and beverages. However, a smart entrepreneur can really niche this idea down, to offer wholesome products that haven’t been traditionally offered in food trucks.
You can sell old fashioned hot dogs, hamburgs, and french fries, if you want and make some good cash. Or employ more of an ultra-niche modern approach like gluten free, Atkins, or Paleo foods. It all comes down to quality. Particularly if you’re in an area surrounded by hoards of competition. Parking a “gut truck” outside a remote mining camp and selling sub-par food and coffee might net you a great profit, but the same can’t be said in a densely-populated area, with plenty of other vendors and restaurants for hungry consumers to choose from.
It’s all About Wants and Needs, Right?
We all know that all markets are driven by wants and needs. Good health falls into both those categories. Best of luck if you decide to give one of these ideas a try.
Go on out there and make the world a healthier, happier place!