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A Guide to Starting Your Own Health-Related Business

by Julie Morris | Oct 15, 2021 | business, business owner, career opportunities, entrepreneur, entrepreneurship, health, health based brand, health based company, health based entrepreneurs, health business, health entrepreneur, health entrepreneurs, Healthcare, new business, small business, start a business, wellness
A Guide to Starting Your Own Health-Related Business

Are you a physician or other type of healthcare provider who wants to become more independent?

If becoming an entrepreneur and starting your own health-related business is on your mind, now is a fantastic time to take action.

According to the U.S. Chamber of Commerce, the wellness industry is already a $4.5 trillion sector and it’s expected to evolve even further in the wake of the pandemic. MASC Medical Recruitment Firm outlines some ways to start your own health-based business.

Choose a Health Business that Matches your Skills and Talents

The health industry is diverse and features many specialties. Decide what niche best fits your skills and interests to improve your odds of long-term success. Ignite offers a list of health and wellness business roles like nutritional therapist, certified personal trainer, online yoga teacher, acupuncturist, and more. You might also consider opening a brick-and-mortar store or an ecommerce shop with a health and wellness focus.

Get the Educational Credentials You Need

Depending on the type of business you pursue, you may need additional educational credentials. For example, say you decide you want to open your own massage studio. According to the American Massage Therapy Association, most states require massage therapists to be licensed. You can further make yourself more marketable as a massage therapist by getting board certification. This shows how going beyond the bare minimum educational requirements can give your business a boost.

Found your Business as a Formal Legal Entity

Regardless of what type of business you pursue, register your new startup with the state. Establishing a formal legal entity like a limited liability company makes it easier to separate your business and personal finances and protects your personal liability. Note that the rules for LLC formation vary between states, so check ZenBusiness to learn about the rules for your state and get help moving through the necessary steps.

Define a Clear Health-Based Brand

Your brand represents how the world perceives your business. If you want to establish a health-based company, you need a strong brand that reflects a holistic commitment to health and wellness. For example, if you open a gym, you don’t want to partner with an alcohol or tobacco company for sponsorship. Hinge Marketing provides a quick guide to developing a strong brand, from defining your target clients to communicating your business objectives.

Find Other Health-Based Entrepreneurs to Network With

Networking is a great way to make valuable business connections that can help your health-related business thrive. The BBVA explains that belonging to a network of entrepreneurs offers many advantages, from offering inspiration to providing a sense of belonging and connectivity. Advanced Data Systems Corporation offers a list of healthcare conferences and events that can be great opportunities for networking.

A health-based business can be a wonderful way to make money from your passion for health and wellness. The above guide provides actionable tips to help you get started.

MASC Medical Recruitment Firm is a trusted physician recruiter and healthcare staffing firm that delivers personalized job placement solutions. If you have questions or simply want to know how we can help you or your organization, call us at (305) 974-1538.

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