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SOURCE: Sunovis Financial
The recent Global Spa & Wellness Summit pointed out that the growth in corporate wellness programs could be a huge driver for increased profitability at small spas throughout the U.S. and world. Highlighting the increasing need and desire for such programs, coupled with huge growth potential, the summit presented a compelling case for spa owners to look towards corporate wellness programs as an expansion opportunity. Sunovis Financial assists small businesses, including spas and salons, with lending needs.
San Francisco, CA (PRWEB) November 16, 2012
The recently held Global Spa & Wellness Summit addressed many issues relevant to spa owners, but the top takeaway is that small spas can and should pursue opportunities in offering corporate wellness programs. These programs are typically held in the workplace, and are meant to address the energy levels, productivity, and overall wellness of employees.
Because corporate wellness covers a wide variety of elements such as health education, lifestyle coaching, medical screenings, nutrition/weight loss advice, gym memberships, and even resort visits, these programs can significantly increase the profits of spas willing to service this market.
As Mia Kyricos, the chair of the corporate wellness session (power point link here), cited statistics from the World Health Organization (WHO), which show an increase in obesity in Mexico of 58% over the past 20 years. Additionally, the WHO projects that China will spend US$558 billion on diabetes, stroke, and heart disease by 2022.
The developed world is certainly not immune to these trends and companies are responding by offering programs that address the causes of poor health, rather than waiting until employees become ill and unable to work. Industry research group IBIS World has projected 100 percent growth in the employee wellness industry (from US$1.45 billion to US$2.9 billion) in the U.S. alone over the next 3 years.
Companies are coming to realize that there are benefits to sponsoring employee wellness programs. A healthy workforce has many upsides. Medical care costs, and thus insurance costs are lowered. There is less absenteeism, more productivity, and more loyalty to the employer.
Kyricos explained that the following issues come up repeatedly in the spa industry and that employee wellness answers all three:
1) the opportunity to prevent sickness
2) the need to introduce wellness and spa to the masses rather than the top 1 per cent
3) the need to identify ways to evolve our businesses and profits.
Sunovis Financial believes in rebuilding the U.S. economy, one business and one loan at a time. The company assists small businesses, including salons and spas, with lending needs to stabilize, grow and thrive. Products include SBA loans, short-term business loans, conventional and alternative lending.
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