As a business owner, chances are you care deeply about the health and wellness of your employees—and you aren’t alone. Concern for employee wellbeing is gaining traction with businesses around the globe—so much so that there’s now a multibillion-dollar workplace wellness industry to back it.
You might be wondering why this matters for a small fitness business like yours. Here are three reasons boutique fitness and wellness studios should be excited about the growth of the workplace wellness industry.
- It can turn into extra revenue for your business.
Nearly eight out of every ten employers are offering some sort of wellness program, and the dollars spent per employee are skyrocketing to nearly $700 per year. In the past, these dollars might have gone to the local big-box gym or a VISA gift card. However, the rise in boutique fitness studios has led some businesses to push their employees toward more specialized indoor cycling, yoga, Pilates and bootcamp studios like yours.
- You can help another business thrive.
As healthcare costs continue to increase, more employers are looking for ways to reduce the associated financial burden. A 2010 study by the Harvard Business Review found businesses that invested in wellness programs saved money on health insurance costs. The study also noted greater productivity and improved morale among employees who participated in these wellness programs. Access to technologies like MINDBODY and Peerfit allows fitness studio owners to easily be discovered by businesses that are looking for a solution to help meet their workplace wellness goals.
- Your business, someone else’s reward.
Programs like Virgin Pulse reward employees for engaging in healthy behavior, including when they check in at the gym for a workout. These rewards range from gift cards to reduced insurance premiums. The result is a win-win: employees can receive better insurance rates by visiting their favorite fitness studios, use the money they save to pay for their membership, and easily share their experiences with their co-workers via social media and internal wellness programs.
Are you ready to embrace the workplace wellness revolution? By plugging into the opportunities available to you through local businesses, you can help improve the wellness of your community—and your studio.