Industry Analysis & Industry Trends
After enjoying a long run of health during the early to mid-2000s, the Corporate Wellness Services industry has fallen ill during the past five years. A housing crash, financial crisis and two recessions since 2008-09 have seen employers cut back on non-core spending and slash jobs, constraining demand for health and wellbeing services. The downturn has proved particularly pronounced for corporate health providers as key customers like banks and accounting firms downsized and prioritised spending elsewhere.
During the past decade, academic research and media attention has focused on the costs imposed on business by illness and injury. As a result, companies have come to view corporate wellness services as an effective way of reducing costs and boosting productivity... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry for the industry are estimated to be low and increasing. Skills required to operate a business range from minimal, such as a personal trainer, through to a highly educated doctor or physiotherapist. There is no legislation constraining corporate wellness services.
Capital required to start a corporate wellness business is not substantial, depending on the size of the business a new entrant may wish to target, and on the scope of services they wish to offer. A new entrant aiming to start a niche business specialising in a certain segment within the industry may be able to start a sole proprietorship and operate with minimal technological and fitness equipment... purchase to read more