Health and Wellness Coach

Startup Costs: Under $2,000
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No

Because of the pandemic's impact on our lives and mental well-being, health coaching has become a booming $7-billion service market, according to MarketResearch.com. And here's some exciting news for those looking to jump into this rapidly expanding field: you don't need a fancy medical license to get started. All you need is a passion for wellness and an understanding of the simple choices that can transform people's health and happiness.

Our panel of Health and Wellness Coaching Experts: Najma Khorrami, founder of Gratitude Circle, and Desiree Stapleton, Owner, Founder and CEO of FMYX, LLC., and Desiree’ Stapleton & Company, LLC

How much money can a person expect to make in the first year and in five years?

Khorrami: In the first year you will likely lose money, but it’s vital to continue investing into the business, especially if you have a tech startup. After five years, perhaps you might generate anywhere from $10,000 to $40,000.

Stapleton: This question is hard to answer without knowing someone’s budget for business advancement. Some people get into this industry and don’t make enough to replace their 9-to-5, whereas others do. Some become six- and seven-figure earners in a five-year timeframe, while others are still trying to figure it out at that point.

A six-figure business is definitely possible, but again, it’s critical to invest in someone who can teach them how to make that income. You can’t just throw spaghetti at the wall for five years: You need to invest in learning fundamentals and income strategies.

What is the first step to getting a health and wellness coaching business started?

Khorrami: It’s important at the outset to understand that this will be a marathon journey with lots of pivots. Initially, you will need an investment of anywhere from $10,000 to $20,000, and if you're looking to have an app-based platform, launch costs increase to $40,000 to $50,000. You will need to figure out your core products and services and social media marketing strategies, then network constantly and feverishly, including on LinkedIn.

You can begin by watching YouTube videos on social media marketing to learn how to sell your idea, then post two to three times each day to get people on board.

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What kind of experience/training do you need?

Stapleton: Ideally, someone who has expertise in achieving a certain result would be the best coach — whether that expertise is gathered on the job, from years of experience and success on their own, or is just a learned hack that many people may need but not know about.

In any setting, the goal is to be able to help deliver the results promised. If you have any hesitancy when it comes to your capability of delivering, this may be the wrong industry, or at least it might not be the best time to charge for your service.

Khorrami: You need to either have health and wellness training through experience or education such as jobs, certifications, etc., but the best experience is perseverance and being able to adapt and pivot, repeatedly.

What type of growth can be realistically expected year over year?

Khorrami: Anywhere from 1% to 30% in the first five years is a realistic estimate.

Stapleton: I’d say most people should anticipate spending a first year learning how to actually do business properly — developing your plan, structure and systems, along with getting legal stuff taken care of and getting your name out there, then determining whether the market responds to your product or service via beta testing. Finally, and particularly in that first year, invest in getting coached from credible and well-known business consultants or income strategists.

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