How Do You Break Into the $4 Billion Health and Wellness Industry? These Startup Founders Share Their Secrets of Success. We picked the brains of some of the most successful leaders in the health and wellness space.
Health and wellness is a nearly $4 billion industry and growing. So how do you get in on the action if you've got a passion for helping people look and feel better? Entrepreneur magazine's editor in chief Jason Feifer went to the Jack Taylor Wellness Showcase and asked some of the best in the business to find out.
As Jon Bier, the founder and chief executive of Jack Taylor PR, explains in the above video, the brands featured at this event offer a wide spectrum of products and services, but the unifying factor is that all of the founders are focused on staying culturally relevant, community-oriented and cognizant of the power of great storytelling.
"I started a free blog and this blog spread throughout New York City," explains Kimberly Snyder, founder of holistic supplements and skin care line Solluna. "Seven books later — three of them being New York Times bestsellers — we're now a company that reaches millions of people."
Andy Hoang, from the rowing machine company Aviron, says the company has found great strength by tapping the power of community. "We're in the connected fitness space, but what makes us a lot different than our competitors is that we use gaming psychology and game design to make your workouts fun," he says. "What's really worked for us is our customers finding a community that they can rally with — people that will push them."
If you're an entrepreneur who wants to grow in this industry, Colleen Cutcliffe, of the metabolic and gut health supplement company Pendulum, has some great advice: "I think the first thing is to not try to build a 'brand.' First, try to build a product that really helps people in a meaningful way. We spent eight years on this product so that when we went to market, we knew we had something that would actually change things for people."
Dean Kelly, of the personalized protein supplement company Gainful, adds this advice, "Be obsessed with understanding your customers. And give them a reason to stay beyond what the product is. Give them a reason to love your brand, whether it be the community, the education, the content, or your greater moral purpose."
"If you want to build a flash in the pan, you can do that with sexy branding and influencers," says Jeff Byers from Momentous. "But if you want to build something meaningful and change the trajectory of health and wellness, you need to take a scientific approach." Work with the best people you can find, he advises, and the results will bring better health to your customers as well as to your business.
If you are interested in learning more about all the health and wellness brands we met, check out their sites listed below:
- AG1 by Athletic Greens, a foundational nutrition supplement that promotes gut health, supports immunity, boosts energy and helps recovery.
- Aviron, a connected rowing machine that uses habit-forming psychology and game design to keep users motivated and excited.
- Centr, connects members with digital content from experts across movement, meals, and mind to help them reach their wellness goals. Recently enhanced its offering to include equipment spanning fitness kits and accessories, home gyms, and strength equipment.
- Eight Sleep, sleep fitness company with a mission to fuel human potential through optimal sleep. Their hardware, software, and AI technologies power pro athletes and everyday high performers around the globe.
- Gainful, personalized protein supplements.
- GORUCK, rucking (walking with weighted backpacks, sandbags and vests) apparel.
- Hyperice, compression massage boots and massage guns.
- HYROX, a fitness racing platform that combines running and functional workouts.
- Katalyst, an electro-muscle stimulation suit that allows for a hands-free, no-weights-needed, full-body workout.
- Kroma, superfoods designed to level up your meals and snacks and give your body the essential nutrition for daily performance and long-term, whole-body health.
- Lettuce Grow, indoor/outdoor vegetable grow kits.
- Magic Mind, a mental performance shot engineered with nootropics, adaptogens, antioxidants, and vitamins to decrease stress, clear brain fog, sharpen memory and boost productivity without the risk of crash or withdrawal.
- Momentous, physician-backed health supplements, proteins, omega-3s, magnesium, and sleep aids.
- Nebula Genomics, DNA sequencing and genetic testing to help people learn about the factors affecting their health on the inside.
- Pendulum, metabolic and gut health supplements.
- Plunge, at-home cold tanks and personal saunas.
- PUTTR-powered smart putting green.
- Remedy Place, a social wellness club.
- Sens.ai, 5-in-1 at-home brain training system.
- SHEPHERD, state-of-the-art technology that helps identify the most effective drugs and treatments for cancer care.
- Smallhold, a global network of farms that allows mushrooms to be grown and supplied to local customers.
- Solluna, holistic supplements and skin care.
- TERSA, integrated movement, stretching, massage, and strength training to integrate mind-body healing.
- Thesis, 1-on-1 coaching to transform brain chemistry through the use of nootropic supplements.
- WHOOP, wearable technology that allows users to optimize human performance.