Health Product Store – Your New Profit Center

According to statistics from 2014, the average health product store grossed more than $2.5 million and has a projected growth rate of 8% per year. Many people are well-suited to this type of business, like:

  • healthcare professionals
  • entrepreneurs
  • single moms or dads
  • retired folks not ready for the rocking chair
  • business minds who crave independence
  • mom-and-pop teams
  • persons seeking opportunity for success
  • baby boomers, millennials and more

While the most common products are supplements and multivitamins, with demand on the rise, energy foods and drinks, books, natural remedies, personal care products and workout accessories also sell well. According to the Centers for Disease Control and Prevention [www.cdc.gov], 53% of adults take dietary supplements and vitamins resulting in a $26 billion  per year industry. As long as people want to live healthy and include nutritional supplements in their daily diets, health product stores are stable businesses.

Opening a health product store could be perfect for you!

Dr. Darwin Den, clinical professor in the department of family and social medicine at Albert Einstein College of Medicine in New York, notes: “Our diet contains too many processed foods that do not have the nutrients we need to keep us healthy, so people respond by taking vitamins. This, in turn, produces a ready-made market for entrepreneurs who can spend little on marketing and more on making sales.

The federal government is not heavily invested in the health product store industry thanks to a 1994 law, the Dietary Supplement Health and Education Act, which prevents health products from the scrutiny and approval given to drugs. Thus, it is perfectly legal, for example, to sell St. John’s Wort, which is widely believed to relieve symptoms of depression despite a lack of rigorous scientific research. Note the operating word: believed.  The label on GNC’s Herbal plus St. John’s Wort claims the product “promotes positive mood balance.”

Why health product stores can be wildly successful:

  • meet needs of an aging population
  • younger generations grasping health care seriously
  • trends toward healthy living across the country
  • healthy lifestyles magazines and online articles popular
  • disposable income levels pair with health-conscious individuals
  • demand for anti-aging products
  • changing attitudes toward all-natural personal care products
  • energy boosting aids in food and drink

The health product store presents an ocean of opportunity for the bravest divers to plunge into, but not without an experienced life guard to evaluate and strategize your entrance. Nursing and Behavioral Health Services (NBHS) should be your new best friend and business counsel for consultation and proven strategies for making your new health product store operate with a competitive edge from day one. NBHS can assist in start-up, including, but not limited to:

  • Business plan
  • Marketing strategy
  • Retail development
  • Product choices and suppliers
  • Bookkeeping and software recommendations
  • Advertising approaches
  • Store organization
  • Staffing challenges
  • Name, logo and website development
  • Legal hurdles
  • And much more!

Imagine yourself an entrepreneur and Health Product Store Owner

CLICK HERE to Schedule a Health Product Store Consult