Building a Wellness Business That Lasts

Start and grow a durable business in the rapidly growing wellness industry!

As we emerge from COVID-19 the world sits on the cusp of a massive wave of wellness industry growth. This "Fourth Wave of Wellness" will bring hundreds of millions more people into healthier, happier lifestyles, creating millions of jobs and producing massive entrepreneurial opportunities. Whether your goal is to work from home, open a neighborhood wellness studio or launch the next global wellness brand, Building a Wellness Business That Lasts is your definitive guide.

Wellness has become one of the largest and most important business opportunities of our age, fueled by massive societal trends, rapid technology innovations, and hundreds of thousands of wellness business entrepreneurs. Independent teachers, trainers, and therapists and studio, gym, spa, and salon owners across the globe are transforming shopping malls and downtown districts with wellness experiences that help hundreds of millions of people live healthier, happier lives.

Author Rick Stollmeyer is the co-founder and CEO of Mindbody, Inc., the leading technology platform for the wellness industry. Over more than two decades, Rick built Mindbody from a garage startup into a multi-billion-dollar technology platform for the wellness industry, helping thousands of wellness business owners achieve their visions in the process. This experience has given Rick a front row seat to the explosive growth of the wellness industry. He brings that unique experience and his passion for entrepreneurship to Building a Wellness Business That Lasts. This book will inspire and inform you at the same time and will serve as a powerful guide you can refer to on your path to success.

Introduction 1

Part I Understand the Wellness Industry 9

Chapter 1 Making a Living in Wellness 11

Chapter 2 The Seven Dimensions of Wellness and Maslow’s Hierarchy of Needs 17

Chapter 3 The Generational Lens 25

Chapter 4 The Future of Wellness in a Post-COVID World 37

Part II Prepare Yourself for a Hero’s Journey 43

Chapter 5 First Things First: Identify What You Love, Get Certified, and Work in the Industry 45

Chapter 6 Five Essential Traits of Successful Wellness Entrepreneurs 49

Chapter 7 Five Financial Metrics Every Entrepreneur Must Know 69

Chapter 8 Embracing the Holy Grail: Sustained Profitability and Value Creation 75

Part III Conceive Your Business 83

Chapter 9 Select Your Mentor, Lawyer, and Accountant 85

Chapter 10 Define Your Target Market 95

Chapter 11 Evaluate Retail versus Home-Based and Virtual Business Options 101

Chapter 12 Lay Your Foundation with Your Competitive Advantage 107

Part IV Plan Your Business 123

Chapter 13 Create a Vibrant Company Culture with Purpose and Core Values 125

Chapter 14 Design Your Role 137

Chapter 15 Select Your Integrated Software and Payments Platform 147

Chapter 16 Assemble Your Business Plan 159

Part V Launch Your Business 169

Chapter 17 Launch Your Website and Establish Your Online Presence 171

Chapter 18 Secure Your Financing 181

Chapter 19 Grow Your Clientele with Paid Marketing That Works 191

Chapter 20 Fuel Your Business with Effective Leadership 201

Part VI Keep Your Cup Full 207

Chapter 21 Staying Well as a Wellness Entrepreneur 209

Appendix - Resources for Wellness Professionals and Entrepreneurs 217

Acknowledgments 223

About the Author 225

Index 227

RICK STOLLMEYER co-founded Mindbody in his garage in 2000 and served as the company's CEO until August 2020. During his two-decade tenure as the company's principal leader and visionary, Rick played a key role in the development of the modern wellness industry—from the introduction of the industry's first integrated online booking and business management systems in the early 2000s, to the release of the first fully cloud based business management solution in 2005, to the groundbreaking Mindbody Consumer App that is used by millions of people today.

Rick remains closely involved with Mindbody, serving as the company's executive chairman and advocating for wellness businesses and practitioners around the world.

THE DEFINITIVE GUIDE FOR TRAINERS, TEACHERS, THERAPISTS, AND ENTREPRENEURS IN A POST-COVID WORLD

Discover how to launch and grow a thriving wellness business with this comprehensive book

Building a Wellness Business That Lasts is a definitive and one-stop resource to help you start and grow the successful wellness business you've always dreamed of. Mindbody Co-Founder and Chairman Rick Stollmeyer uses the knowledge and experience he gained in building the world's largest and most-used wellness technology platform to show you how to launch and sustain your own wellness business.

Written in four parts, Rick describes each step you'll need to take to get from where you are to running a thriving and healthy firm in the wellness industry. From identifying what you love and gaining experience in the wellness industry, to developing within yourself the essential traits of successful wellness entrepreneurs, to the details of identifying your target market and assembling your business plan, to securing financing and launching a booming wellness business, to keeping your cup full as a wellness entrepreneur, each chapter provides actionable steps and practical strategies to achieve lasting success.

Perfect for current and aspiring entrepreneurs and anyone interested in the intersection of health and business, Building a Wellness Business That Lasts belongs on the bookshelves of wellness enthusiasts everywhere.