Wondering where we are in the current life cycle of the wellness industry? Not only is it good to know exactly at which point we are, it is good to know the academic relationship to the sectors involved, especially in a time of economic crisis.
Does the wellness industry have stability? Is it a viable job option for you or others? If you want to become a personal trainer or nutritionist, and you are just starting out in your career, is it wise to jump in now or wait? A thorough analysis of the situation is pertinent before such action steps can be made.
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One must first define their location and demographic. For example, in Hershey Pennsylvania, there are many viable candidates that could enrich their lives through nutrition coaching, but they do not know where to turn. The demographic is willing and able. In a third world country, however, the concern is not on health and fitness, but on basic survival. It would not be wise to market there.
If you have an interest in the wellness sectors of fitness and nutrition and are considering a career in one or both of these sectors and wants to get in early in order to gain the greatest amount of economic and financial leverage, you may want to take pause and analyze the situation first.
Fist, one must define what constitutes the industry and the sectors. The sectors we will concentrate on first are the fitness and nutrition sectors. The fitness sector is defined primarily by fitness clubs, fitness equipment, and personal trainers. The nutrition sector is defined by vitamins, nutritional supplements, nutritionists, health food products and restaurants. According to Wharton educated economist P. Pilzer, the U.S. health club industry did $24 billion in sales in 2000, and the U.S. dietary supplement industry did $70 billion, and the entire wellness industry at $200 billion.
It is important to analyze the sales and revenue growth of theses two sectors in order to determine where those sectors lie on their respective S-curve's life cycle, as well as their collective life-cycle. It is also important to make a projection as to when market maturity will be reached because at that time it will be too late to gain mass fortune. The healthcare industry an example of a mature and possibly declining industry. It was worth $1.6 trillion in 2000. The wellness market could be totally saturated when revenues reach a comparable number such as $1 trillion. At this point any remaining opportunity for mass fortune may be lost; however, only time will tell. The sectors of fitness and nutrition combined were estimated by Pilzer at approximately $94 billion in 2000 which was about one half of the wellness market at that time; therefore, these two sectors could be saturated when their combined revenues reach one half of $1 trillion, which is $500 billion. Using the sector's ratios to one another from the Pilzer data, along with the possible saturation point, that would mean that the fitness club industry will be saturated at $128 million, and the supplement industry will be saturated at $372 million.
What does this mean for personal trainers and nutritionists? What kind of job expectations are out there for this year?
It was a rough year of economic decline for all industries, but my personal training Hershey clients know that the value isn't in the money, it's in their health. My nutrition coaching team also knows that in a situation like this, customer service is at the utmost importance. Visit https://www.aspersonaltraining.co.uk/
