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5 Business Ideas in the Health Industry

5 Business Ideas in the Health Industry

The healthcare industry is a great place for entrepreneurs to start a business. With an ever-increasing number of technological advances plus an emphasis on preventive care, you’ll not only have an opportunity to run a viable business, but could also do a great deal of good by helping those struggling with addiction or other problems, as well as those to just want to stay healthy.

Sleep Clinic

Providing sleep study assessments under the direction of a physician can take some time to achieve. If you decide to become a sleep clinic technician so that you can become more knowledgeable about the industry, you’ll also have to go through extensive training that includes CPR training, schooling that allows you to specialize in polysomnography along with on-the-job training. The cost of the equipment needed and hiring proper staff makes for lengthy preparation time and high start-up costs.

Fitness Training

Improving someone’s health through better physical fitness is another hot area. Whether it’s the new mom trying to lose baby weight or someone who wants to train for a marathon, this area is full of possibilities. Senior fitness is a big niche as increasing numbers of older adults choose to remain active for health purposes. Certifications from ACE or AFAA are necessary to enter this field, but you can start this business out of your home to minimize initial outlay.

Wellness Clinic

The key to a successful wellness clinic is finding a focus as there are a number of paths you can follow. Start-up costs for this venture can also be high as you will need a physical location. You may also need special certifications from psychological organizations or similar entities in place, adding to initial costs. Examples of viable wellness clinic ventures include depression management, stress management, and nutritional services. You will also need to employ professionals certified in their field.

Drug Testing

The global drug screening market is expected to exceed $8.27 billion by 2022, so now is the time to get into this industry. The rise in alcohol and drug abuse, especially opioids, has fueled this growth.  Although start-up costs are high, with the right planning and backing, this niche industry has great potential as drug testing companies work with many different businesses and recovery organizations. Medical assistants have numerous duties in the healthcare industry. In this instance, they are needed to help prepare samples for testing.

Develop a Healthcare App

With smartphones and smart watches being so widespread, healthcare apps allow people to monitor their health on the go, at any moment — and they’re incredibly popular. Do you have an idea for a smartphone app related to healthcare that no one has thought of?  Developing a healthcare app can be tricky, but with the right guidance and partnering, you could be on your way toward helping others and making money for yourself in the process.

Finding the right niche in the healthcare industry can be a profitable venture if you get in on the ground floor. Make sure that you have proper education and funding as well as a business plan that will help you become successful in one of these ventures.

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by Eileen O'Shanassy // Eileen O'Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter: @eileenoshanassy.

Opinions expressed by contributors are their own.