There are a few industries out there that have turned into trillion dollar industries. According to Paul Zane Pilzer, the next trillion dollar industry is going to be the wellness industry. There a few reasons why.
The industries that have reached that $1 Trillion mark annually often times follow the baby boomers. The baby boomers have exploded markets from baby supplies in the beginning years all the way to minivans, to now the wellness industry. The industry is expected to grow %500 in the next few years. Baby boomers are in their late 30’s to early 60’s. They are 50% of our gross domestic product even though they are only 30% of the population.
There is a health kick today. People want to look good, feel good, and have the energy to do the things they want to do. And they are willing to pay for it.
So who benefits from the wellness industry?
Practitioners, manufacturers, retailers, distributors. Practitioners like doctors and chiropractors They have years of school and student loans as their investment. It pays off but not everybody can make the investment required to make it.
Manufacturers will benefit from the wellness industry by producing the high demands of products. To be a manufacturer there is a huge initial investment of capital and a huge risk. There are machines needed to manufacture the products, employees, and shipping. Warehouses and buildings will be needed to accommodate the demands for the wellness industry products.
Retailers have similar responsibilities as manufactures except they don’t produce the product, they focus on getting the product out to end users. Huge capital investments are needed to stock inventory and to advertise the products. Commercial buildings are required and a huge risk is carried by the retailer. There is huge profit potential, but their are only a select few that make it in the retail business.
The wellness industry has attracted huge network marketing companies. They recognize the increasing demand for health and beauty products and the concept of highly consumable goods. Products like tooth paste are consumed and bought, and then consumed again for a persons live. Vitamins, skin care, and cosmetics are the same. With highly consumable goods there is repeat business the follows with little need to “recommit” consumers to buy. They set up models for individuals to follow and to be successful with. A small capital investment is usually required, but is meager enough to allow just about anybody interested to start their own business without the huge risk.
That said, it is important to recognize that the network marketing companies out there that are signing up distributors are businesses themselves. They design their company in a way where they can maximize the profits for themselves. The best MLM companies are the ones that want to make the most money by helping their distributors make the most money.
The wellness industry is growing and this is the time to take advantage of this unique time. The economy is down, but the wellness industry is growing. Find out more by visiting BeginMyNuLife.com.