It’s easy to look for a business that’s profitable, but finding one that’s both profitable and can help transform (and prolong) lives could be a bit more challenging. Luckily, focusing on the medical and fitness sector is a surefire way for entrepreneurs to start up a wholesome yet still profitable way to earn. Businesses in these fields focus mainly on improving the health and wellness of its target market, while some focus more on treating and preventing certain medical conditions.
That said, we’ll be taking a look at different fast-growing businesses in the medical and fitness sector that you can choose from, for both profit and purpose:
Diabetes Care Center or Clinic
Diabetes is a common and long-term health condition that follows numerous health complications. In 2015, the American Diabetes Association (ADA) reports that were around 30.3 million Americans who had diabetes, that’s around 9.4% of the population at that time. Putting up a diabetic care center or clinic can provide diabetic patients access to various medical services in order to improve their quality of life, while also guiding them towards a healthier lifestyle. Some centers even have support groups that also address the psychological impact of diabetes (or being diagnosed with it).
Fertility Clinic / Egg Donor / Sperm Bank
About 6.1 million women (or 10% of the female population) in the US have reported issues in getting or staying pregnant, while 9% of men in the US have reported seeing a doctor due to fertility issues. Infertility is clearly as common as it is life-impacting to men and women in the country. Starting a fertility clinic (or, alternatively, a Sperm Bank or Donor Egg Bank) is both a sustainable and profitable way to help these people with their infertility issues, and allow them a better chance of having a child.
In a 2017-18 survey by the American Pet Products Association, around 68% of households in the country (that’s 85 million families) owns a pet. Pets provide families and individuals with companionship and are beneficial to their psychological and emotional health. However, when their pets get sick (or worse), it can also negatively impact their psychological and emotional health. Putting up or investing in a veterinary clinic can provide more pet owners to quality health care for their pets.
An easy and effective way to get into the medical sector of business is by taking advantage of healthcare franchise opportunities. This franchise answers the issues and problems with the current healthcare system and minimizes the need for sick/injured to wait for long periods of time just to be treated. A healthcare franchise is an effective alternative to hospitals when it comes to non-emergency room urgent care.
Another way for you to earn while helping those with medical conditions is by starting your own pharmacy. With the right staff, your retail pharmacy would be able to provide general health advice and supply both prescription and non-prescription medications to those that need them.
These are simply a few of the many businesses you can start up in the medical and fitness sector, and, hopefully, you’d consider one of these business ideas or come up with something in the same field. But regardless of which of these business ideas you choose, know that you’re not only earning but also changing lives in the process.