Rowdy started in 2013 by founder and CEO, Kellie Lee, has made strides in the CPG health and wellness industry. She built the Rowdy brand in her kitchen and the gut-health focused products can now be found across the nation! It takes grit and perseverance when launching a business. We have curated some tips to help jump start your health business for 2023!
Starting a health business in 2023 can be an exciting and rewarding experience, especially if you’re passionate about health and wellness. And with the right planning and preparation, you can launch your health business into the market and be guaranteed its success.
In this article, we’ll provide tips for starting a health business in 2023. We’ll cover finding the perfect health business idea, writing a business plan, researching your competition, working on business name ideas, creating a solid website, and finding the perfect name for your brand.
Important Tips for Getting Your Health Business Started
Find an Idea That Aligns With Your Expertise and Passions
The first step in setting up your health brand is determining what kind of health business you want to start. Popular health business ideas include health food stores, health service providers, health coaching, fitness centers, alternative medicine centers, and wellness retreat centers.
You should also consider testing out a few startup ideas to see which ones are most successful. For example, you could offer health-related services or products in a certain area or to a specific demographic, or you could develop and market a unique health-related product or service.
Write a Detailed Business Plan
Once you have a good idea of the type of health business you want to start, the next step is to write a business plan. Your plan should include your vision for the company, your target market, your marketing strategy, and your financial plan.
Make sure to include information on how you will fund your business, how much your services or products will cost, and how you plan to make a profit. Be sure to include a great business vision statement.
An example of a company with a great business vision is the wellness retreat center, “The Haven.” Their vision statement is: “The Haven is a place where people can come to find balance and peace in their lives. We are devoted to providing a safe and supportive environment for our guests to explore their physical, mental, and emotional well-being.”
Start Researching Your Competition
Before you launch your health business, it is important to research your competition. This includes analyzing their branding, pricing, and customer service. Knowing what your competitors are doing will help you understand how to differentiate your business.
A competitive analysis will help you identify your competitors’ strengths and weaknesses and will help you determine how to position your business in the marketplace.
Create a Comprehensive Brand Book
Once you’ve done your competitive analysis, the next step is to create a brand book. A brand book is a business document that outlines your business’s brand identity, including your logo, colors, fonts, and tone of voice.
It should also include information about your target customers and your mission statement. Make sure to create a brand that is consistent across all of your platforms. For example, a company with a great brand, such as Apple, has a consistent visual identity across all its products, from its website to store displays.
Build a Strong Website
Creating a good website is essential for any business. Your website should be user-friendly and easy to navigate, and it should clearly explain what your business offers. It should also include information about your services or products, your contact information, and a blog or news section.
For example, the health coaching business “Be Balanced” has a great website. It's visually appealing, easy to navigate, and includes all the essential information potential customers need.
Pick the Best Name
Once you’ve created your brand book, the next step is to find the perfect name for your business. Your name should be unique and memorable and communicate what your company does.
It should also match your brand and avoid potential trademark conflict. You should also create a matching domain name and use audience testing to ensure your name resonates with your target customers. For example, the fitness center “CrossFit” has a great name that is both memorable and descriptive.
The key to success is to find the perfect health business idea that aligns with your expertise and passions, write a business plan, research your competition, create a brand book, create a strong website, and find the perfect name for your business. These tips have put you on the right track, so go ahead and start your journey to success!
Grant Polachek is head of branding for Squadhelp, an innovative naming agency and 3X Inc 5000 firm. Squadhelp has evaluated more than a million names and compiled a list of the top names currently being used on the internet. We also help clients ranging from Fortune 500 organizations to early-stage startups find exciting brand names that instantly connect with their target audience.