Millions of young people might get surprised, but there are a lot of profitable business ideas in the healthcare field.
The healthcare field is that industry that transcends time because there is always someone who needs health advice or medication, even for minor wound cuts. The healthcare business sector is an excellent opportunity to help people earn a living.
This article will learn of seven healthcare business ideas as a young person that you can start now.
Why you Should Explore the Healthcare Industry
Yearly the human population experiences growth, which means the more people on the planet, the higher the chance to face a health issue, no matter how small. For example, there has to be childbirth for the population to increase.
Every childbirth process will need the attention of a health specialist at some point, which means the healthcare industry is a forever-yielding industry.
The amount spent on health is also predicted to grow at 5.5% yearly until 2026. More and more opportunities are yielding in the healthcare industry. For example, the employment rate within the health sector is predicted to increase at the rate of 18% from 2016 to 2026.
About half of the twenty occupations that will increase employment by 2026 are in the healthcare field. This means that there is a massive opportunity in the health care sector for many young problem solvers and business-minded individuals.
The Seven Healthcare Business Ideas For Young Entrepreneurs
1. CBD business
The first on our list would be the CBD business. Why? Because it is fast rising and it is new to the mainstream. This means it is a new niche you can build your business on to avoid tight competition.
Another reason is, CBD is a discovery to the world of science, and from the looks of things, it seems CBD is not going anywhere soon. It will continue to advance as there are more discoveries each day. BDS Analytics predicts that the CBD market will have made 20 billion dollars in sales by 2024. CBD is steadily growing in popularity due to its healing and therapeutic effects on users.
However, there is still skepticism amongst people when it comes to CBD. They wonder if CBD inherits the psychoactive effect of THC that comes from Cannabis. The answer is NO. CBD is a nonpsychoactive compound consumed majorly for its potent healing power.
CBD is produced in different forms, including CBD tinctures, gummies, edibles, oil, capsule, etc. CBD is also used for vaping now-a-days and there are various pod vape devices which can be used for this purpose.
2. Childbirth Service Business
You can have a business in childbirth service in numerous aspects. For example, during childbirth, there is a midwife that helps the pregnant woman put to bed.
There is also a pregnancy coach called a doula who will help the couple involved make informed decisions during pregnancy and help them arrange every aspect of it (including taking care of the newborn).
You might want to become a practitioner as a midwife or doula or both. Otherwise, you can hire them and use their services for your clients under your business name.
3. Drug Test Center
Several bodies implement a system of drug testing before admitting a new member, such as:
- University or colleges when welcoming a new student
- Companies/businesses when about to hire an employee
- Police when investigating a suspect
- Sports organizations, when accessing an athlete
Drugs can be tested by analyzing biological specimens like sweat, hair, urine, and saliva. You can set up a trustworthy testing center that these bodies can consult when in need of your services.
You can decide to practice being a nutritionist or start a business where you contract nutritionists to provide their service to your clients. If you have a nutrition business, it would be great to list the services you offer and their price.
Nutritionists can help the average human become conscious of what they consume. They can help people make the right decisions about their diets. Hence, a nutritionist can specialize in sports nutrition, weight loss nutrition, or holistic nutrition. To become an approved dietician, a nutritionist must get approved by the Commission on Dietetic Registration.
5. Healthcare App
Healthcare apps are an innovative way for young minds to hack the healthcare industry. In this case, you are a mobile app developer or hire people to create the application. The great thing about this idea is that you can conduct research and find out the problems you would like to solve through the app.
6. Health Information Website
This is another business idea where you can either be an educator, a business that contracts the educators, or both. Your choice heavily depends on what you are trying to achieve. You might have studied a health-related course in university and would like to showcase your expertise on different topics.
However, if you desire to educate people on heath, you can research and consult people who know it, not misleading your audience. You can decide to produce all sorts of content (i.e., podcast, article, vlog, social media post). The topics on the website can either be generalized or specialized depending on your goals and who you wish to target.
7. Drug Treatment and Rehab Centers
The National Institute on Drug Abuse (NIDA) reported that over 115 Americans die from overdosing on opioids daily. This means that the number of people who abuse drugs is rising. You can save many lives by opening a drug treatment and rehab center where your clients are sufferers of addiction.
Drug treatment and rehabilitation center business idea is great because you want to treat anyone addicted to drugs of their compulsive drug seeking and use.
We have just broken down seven businesses you can try in the healthcare industry and find profitable.
Aside from this, you will be doing humanity an excellent service if your products or services are easily accessible, easy to use, and affordable. As no one plans to fall ill or fall into accidents, you should nurture your services.