Business in the health and wellness industry

As we all know, health care, personal well-being etc has become of paramount concern these days. we are seeing McDonalds, KFC etc start to post calorie counts on their menus. I went to a TGIF the other day and thought "wow I did not think chicken quesedillas (SP?) had THAT many calories! I didn't even pick the meal yet!!" More and more people are looking to become healthier. Honestly, how can you avoid it. Nearly every day there is some study coming out that says perhaps breathing might cause a 6th finger to grow on your right hand...only on leap years of course.

All kidding aside, I see every day the struggles many people have, especially those who are older. I recently had a client at my pharmacy beg us to send her all her medications for free because her insurance canceled her coverage prematurely. Being unhealthy is becoming more of a financial issue these days than ever before. As mentioned in a prior post, the baby boomers are about to retire and REALLY put a hit on the system.

So now we are seeing more ads and health products, more advice and tips to staying healthy. As a result, the health and wellness industry has and is coming close to, if it has not already, a trillion dollar industry! Who would have thought Coca Cola would start to make more money on their water line than soda. Snapple has revamped their product lines to include healthy juices that have excellent fruits, such as the Noni fruit, in them to promote better health.

Here is a great example of how a popular company in the health and wellness sector is STILL doing well, even in today's tough economic climate. 2 days ago, an expert was interviewed on Bloomberg radio discussing some of his thoughts on some stocks he still likes. The one he chose 1st, Colgate. Obviously the stock was down, 23% from what was quoted that day, but nowhere near where the levels of many others were at. When he gave his reasoning why...They deal with products in personal care and well-being which even in down markets, most people will not lose sight of. Even if times are tough, I am still going to brush my teeth! Also, they have a VERY strong brand.

Here is another example that highlights the point. According to the December issue of Home Business magazine, one choice in a home based business is with a company called Take Shape For Life. (Please note, I am NOT endorsing any one particular company over another..just brings home the point) They apparently "provide nutritional intervention and non-drug therapies for weight and disease management."

I think this highlights my point. Since I am already a pharmacist and running my own home based business in the health arena, this is the area I am most familiar with. I would recommend to anyone out there though to read magazines such as Home Business,
Entrepreneur Magazine. I believe Smart Money has a similar magazine..unsure of the name though. I think the more we all read about different alternatives to business and finances, the more informed and capable we become in managing and obtaining wealth.