Health and Wellness Business Consulting
Maintaining a good lifestyle is something people always look up to but only a handful of us are able to stay there. Hectic schedules in pursuit of happiness keep people away from practising meditation and yoga, going for a walk, consuming less outside food, etc. Humans were never ready for the adverse consequences of such a lifestyle.
People move to cities, try to climb up the corporate ladder, take up jobs with higher pay but with more responsibilities, make it to their offices through the crowd and traffic, and in so many other ways, maintaining a healthy lifestyle gets overshadowed. The toll on their body and mind eventually begins to reveal later in life. From its preventive to curative benefits, it is no wonder that health and wellness services are becoming indispensable in a growing, developing human society.
Dubai’s health and wellness industry is growing fast driven by the cosmopolitan nature of the city and rising health consciousness among its population. Tourism is another bolstering factor. New technologies and services in this sector quickly find a market here. A simple instance would be cryotherapy which came to Dubai 7-8 years back. It is still a rare service in many parts of the world. Other services that come under health and wellness are curative healthcare, nutrition, yoga and meditation, wellness tourism, fitness clubs, non-invasive therapies and treatment, etc.
The sector holds promising returns from a commercial point of view. But to succeed and sustain in Dubai’s competitive market, businessmen and entrepreneurs will have to do their business planning right.
Challenges in Health and Wellness business
Focus on brand positioning and UVP
Unless you are coming up with a world’s-first kind of a product and service, homogeneity of service offerings is a big constraint for health and wellness enterprises. Your business model will play a break-or-make move here. It will call for better market insights, a specific understanding of customers’ needs and expectations, and a detailed assessment of the required capabilities to deliver. Health and wellness is a broad field of services. Customers need to clearly understand what your brand stands for and what you deliver. And then you will have to live up to it.
Poor acquisition efforts
In the age of the internet and information, customer acquisition can longer be confined to local influencing efforts. The time has come for local businesses in this sector to introduce a glocal marketing strategy. Businesses will have to bear in mind that celebrity/brand association for marketing purposes must resonate with the local customer base whether it is in the form of outdoor advertising or digital campaign.
Poor service
A commonly observed phenomenon in the diagnostic and curative healthcare business is poor service. Customers often find themselves on the receiving end even after paying their bills. The question is if you are already charging for your services, why not provide better services? As an example, healthcare businesses could cut down the time and effort people have to spend on the registration counters with help of app-based services. That way they could keep their manual registration counters less busy and enhance customer convenience.
Building the team
When we say a team, we mean to include everyone in the organization from the owner to the janitor. If you want to run your health and wellness centre in a manner that reflects your ethos and principles, you must be careful with your team selection. Your front line employees interact with tens and hundreds of your customers every day and send home with them your business’s brand identity. They need to be well-behaved, well-trained, and technically sound. This demands a recruitment strategy, training and development programs, an effective performance management system, and of course, a competitive remuneration structure to help attract and retain productive employees.
Location, Layout and Logistics
The three key variables – location, layout, and logistics play a decisive role in customer acquisition, conversion and retention depending on the nature of the health and wellness enterprise. For example, for a yoga centre, the location needs to be away from the hustle and bustle of the city. For a fitness club, it should not be located anywhere where your customers get a hard time reaching there cutting through maddening city traffic. A good layout plan ensures that you make an optimized utilization of the available space keeping in mind the customer experience you intend to deliver. Logistics become an important consideration for product-based stores in this sector.
How YRC can help: a glimpse
In consideration of the typical challenges in managing a health and wellness enterprise and following the best practices, with its domain expertise in retail and eCommerce, YRC offers a wide range of health and wellness business consulting services for Dubai and the UAE. Highlighted below is a glimpse of what we do.
If you want to build a profitable and competitive business, you will have to start with a solid market research. Better market insights lead to more informed decision-making in a wide number of areas like identifying and targeting potential market segments, determining target market size, assessing the competitive forces, challenges in the market, location feasibility study, demand and price analysis, etc. Based on comprehensive studies and analyses, recommendations and CTAs will be presented by our team of experts in wellness and healthcare business consulting.
What we strive to assist our clients with in business model development service is formulating a strong UVP-based business model and the strategic framework defining the value chain and network of internal capabilities required to deliver the intended UVP. YRC’s consultants will help you build the right business model whether it is dermatology or skin clinic consulting, dental clinic consulting, pharmacy consulting services for Dubai and the UAE or any other form of health and wellness business.
In business plan development, we help clients assess the commercial viability of their business ambitions in this sector. We cover the estimation of the capital and initial investment requirements, operational expenditure, sales turnover, costing, purchase and inventory planning, profit and loss projections, ROI and break-even analysis, etc. to arrive at the key financial projections and assessments.
Going online, businesses in the health and wellness sector gain the flexibility to offer many of their services online like registration, booking and cancellation of appointments, telemedicine, online consultation, online shopping of medicines and other healthcare products, customer support etc. This will require you to formulate effective functional and operational strategies.
In eCommerce business strategy consulting, we will help you define and improve the eCommerce strategies of your health and wellness enterprise. If you are a brick and mortar business, we can help you with formulating a robust eCommerce business strategy that takes your business online. If you are already an omnichannel business, we provide assistance in enhancing the functional and operational strategies of your enterprise.
In SOP consulting, we help clients build a strong foundation of business operations. From purchase and procurement of inventory to last-mile delivery through a host of support functions like HR and marketing, we formulate the Standard Operating Procedures (SOPs). The objective is to help businesses become process-driven from the core that not only helps to keep business operations on track and stick to the established standards but also makes an enterprise growth-ready and scalable.
Franchising is a very common and effective business expansion strategy. In the health and wellness sector, franchising is used by reputed brands of hospitals, gyms, spas, weight-loss clinics, chemists, etc. to expand their business to new markets. In franchise consulting, we help clients define the expansion strategies, prepare the business plan, map the franchise partner search activity, draft the franchise legal agreements, develop the SOPs, and define the audit processes.
YRC’s goal in HR consulting is to help you build a robust team of a robust organization. We offer assistance in the areas of organization design, staff analysis and succession planning, HR SOPs, PMS, and change management.
We are a boutique retail consulting firm. To know more about our health and wellness business consulting services for Dubai and the UAE or if you have any service-related query, drop us a message and we will get back to you.