Industry Analysis & Industry Trends
During the past decade, there has been some academic research and media attention on the costs imposed on businesses by illness and injury among workforces. Businesses have gradually come to realise the role corporate wellness services can play in reducing these costs, which has encouraged firms to invest in the industry's services and contributed to revenue growth during the past five years. Declining unemployment, expansion in the range of services provided and increasing business expenditure on non-core services has also supported industry expansion. However, large job cuts in the financial services sector, which is an important market for the industry, and lacklustre demand from public-sector entities restricted growth. Revenue is expected to increase at a compound annual rate of 2.9%... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry for the industry are estimated to be low and increasing. The skills required to operate a business vary, ranging from those required of a personal trainer through to those necessary of a highly educated doctor or physiotherapist. There is no legislation constraining corporate wellness services.
The 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