Franchise Spotlight: Health
Both young and senior demographics are fuelling growing demand in diverse health-related industries.
From healthcare to fitness and nutrition, several industry trends point to the future of the health franchise industry looking bright.
An ageing population and expanding private health coverage, for instance, persuaded market research outfit IBISWorld to forecast a strong industry growth rate for Australia’s healthcare service sectors over the five years from 2020.
Then it’s good news for other health-related sectors that statistics show that young adults are more health-conscious than their parents’ generation.
Consider, for instance, that every single one of 1,000 Australians polled by St.George Bank in 2019 had bought health products or fitness memberships in the last month, with seven in 10 buying vitamins and supplements, half buying active-wear and 45% paying for a gym membership.
Franchise market analysis
Health franchise opportunities, which offer franchisees a trusted brand, proven business model and intensive training and ongoing support, can span a variety of sectors, from gyms to healthcare and wellness products and services.
Among them is XTEND Barre, which combines dance and pilates to give attendees a full-body workout that benefits strength, cardio and flexibility. The brand has 70 studios in the UK, US, Canada, Australia and New Zealand.
Nurse Next Door , by contrast, is a provider of home care for seniors and people with disabilities that claims to have disrupted a “task-based and sterile” market when it launched in Canada in 2001. Supported by a sales performance coach and 24/7 centralised scheduling and client support platform, franchisees build care plans bespoke to individuals and are welcome to suggest improvements to the business model.
Buy a Medpods franchise as an investor or a doctor and you can start running a general practice without having to fit out premises, procure medical supplies and software, or handle compliance. Based within shopping centres, Medpods medical centres also foster partnerships with local pharmacies and allied health providers.