Franworth’s health and wellness portfolio includes three standout brands: sugaringLA, a natural hair removal company, HealthSource Chiropractic (America’s Chiropractor^®), and Degree Wellness, a wellness studio offering multiple cutting-edge health services leveraging heat, cold, light and advanced nutrients to enhance physical and mental health. 

The health and wellness industry is thriving and full of opportunities, with demand only continuing to grow. As we support our brands, we stay up to date on key industry trends to help our franchisees succeed. If you’re considering owning a health and wellness franchise, here’s what to expect in 2024 and beyond. 

How Big Is the Health and Wellness Industry? 

The health and wellness industry is a massive, dynamic sector, with McKinsey estimating its global value at $1.8 trillion (focusing on sectors like fitness, nutrition, and mental wellness). As consumers seek alternatives to traditional healthcare and explore ways to enhance their quality of life, the demand for wellness-focused services continues to rise. 

Within this broad market, sub-sectors like personal care, beauty, and anti-aging command substantial attention. The Global Wellness Institute highlights wellness tourism as a major growth area, with consumers increasingly willing to invest in experiences that enhance physical and mental well-being. Franworth’s brands align well with these industry trends, serving customers’ diverse needs in this broad sector.  

Franworth Health and Wellness Brands 

Franworth’s health and wellness portfolio features three dynamic brands that cater to a variety of consumer needs: 

SugaringLA offers natural hair removal services in a welcoming, warm, and inviting setting using only all natural and organic products. SugaringLA’s mission of clean, organic, sugaring studios serving body, mind, and spirit through simple warmth, lasting hair removal service, and earthly care aligns with consumers’ growing interest in environmentally friendly and good-for-you beauty solutions.  

HealthSource Chiropractic’s focus is on relieving pain while improving clients’ overall health. Through comprehensive chiropractic care combined with rehab and wellness services tailored to individual patient needs, customers can get back to doing the things they love with more sustainable results. Known as America’s Chiropractor®, HealthSource combines cutting-edge technologies with a personalized approach to pain relief to meet each patient’s unique needs. HealthSource experts are backed by the largest chiropractic system in the nation.  

Degree Wellness enriches lives by providing innovative self-care solutions that leverage heat, cold, light, and advanced nutrients to enhance physical and mental health. With a vision to be the premier self-care destination that inspires communities everywhere to live happier, healthier, more vibrant lives, The Degree Wellness experience offers a range of  innovative wellness treatments, from infrared saunas to cryotherapy to red light therapy all under one roof. This wellness studio offers health solutions to a variety of clients from busy moms looking to increase their energy and vitality to athletes looking to recover faster from extreme physical exertion. 

Health and Wellness Industry Trends for 2024 

With nearly half of the U.S. population managing a chronic disease and an aging demographic becoming more prominent, health concerns remain a top priority for consumers. Here are some key health and wellness business trends driving industry growth: 

• Wellness Tourism 

The Global Wellness Institute identifies wellness tourism as one of the fastest-growing sectors, driven by consumers seeking health-focused travel experiences. This trend gives franchise owners a unique opportunity to market their locations as wellness destinations, appealing to those looking for convenient wellness retreats close to home. As of 2022, Global Wellness Institute estimated wellness tourism to account for $651 billion of the $5.6 trillion wellness market (public health, personal care, nutrition, and more), highlighting its significant role in the industry.  

• Focus on Women’s Health 

An increasing number of wellness offerings are targeting women over 45, reflecting broader industry trends. Franworth’s health brands, including HealthSource Chiropractic and Degree Wellness, are strategically positioned as gender-neutral services that still appeal to this demographic. This approach allows our brands to support a wide range of wellness needs while capturing growth in this segment.  

Our health and wellness brands are built to stay adaptable in a fast-evolving marketing, providing services that meet consumers demand and position us for sustained growth.  

Looking Forward: The Future of the Health and Wellness Industry 

The Global Wellness Institute estimates that the wellness industry remains a multi-trillion-dollar market, with annual global spending exceeding $4 trillion since 2017. This sector’s growth has consistently outpaced global GDP, demonstrating its resilience even in challenging economic times. As millennials and Gen Z increasingly invest in wellness, particularly in areas like fitness, mental health, and lifestyle improvement, McKinsey and other analysts predict continued expansion. With younger generations prioritizing health and longevity, the wellness industry’s momentum shows no signs of slowing down. 

Are Health and Wellness Franchises a Good Investment? 

Absolutely. With consumer interest in health and wellness steadily expanding, franchises in this sector represent a compelling investment opportunity. By aligning with a health and wellness brand, franchisees can tap into a growing market where high-quality, reliable services are increasingly in high demand. 

Starting a Health and Wellness Business with Franworth 

If you’re ready to invest in a franchise within this booming industry, Franworth can help you get started. Our established health and wellness brands provide franchisees with a solid foundation in a high-growth sector. 

Each Franworth brand is supported by a dedicated team, guiding franchisees to become successful business owners. We help franchisees develop and promote thriving health and wellness businesses backed by tested systems and industry expertise. Contact us today to learn more about franchising opportunities in the health and wellness space.