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Life Coaching Trends for 2024: Wellness Real Estate
The wellness industry has been evolving rapidly, and it's crucial for life coaches to stay ahead of the curve. A particularly intriguing development is the rise of "wellness real estate," a sector that the Global Wellness Institute identifies as the fastest-growing in the wellness market.
As a life coach, understanding and adapting to this trend is one way to future-proof your career and prepare to serve the evolving demands of your future clients.
What is Wellness Real Estate?
Wellness real estate – homes designed to support holistic health – is nearly a $400 billion market, and it’s on track to grow exponentially. Homes and communities are being designed with renewed focus on aspects like air and water quality, natural lighting, and spaces promoting good sleep and energy levels.
The GWI projects that wellness real estate will grow at a rate of 17.4 percent, reaching more than $887 billion by 2027. Right now, the U.S. has the largest market share of any country in the world in this space.
This shift reflects a broader trend towards holistic health, reminiscent of the organic food movement's impact on the food and beverage industry.
The Role of Coaches in Wellness Real Estate
Life coaches are uniquely positioned to influence the wellness real estate sector, integrating their services into the very fabric of these wellness-focused spaces.
Some Lumia graduates are already making their mark in the wellness real estate space. One Lumia alumni caters to law firms in New York City by incorporating wellness elements into the workplace, bringing in plants, ergonomic chairs, healthy catered meals, and providing on-site life coaching to the lawyers at the firms she contracted with. Her retainer was approximately $40,000 per contract period, which could last a few months.
As homes and communities embrace spa-like amenities and services, there are opportunities abound for coaches specializing in various wellness practices.
Opportunities for Coaches at Home and Abroad
The luxury market often sets trends that trickle down to more accessible levels. High-end wellness real estate features like cold plunge pools, wellness centers, and sensory gardens are now becoming more accessible for wellness-minded consumers.
Of course, the way that folks set up their concept of a healthy lifestyle is dependent on budget. Most trends start in the luxury spaces, including facilities with cold plunge pools and residential buildings that feature wellness centers and spa treatment rooms. Additionally, pickleball courts, sensory gardens, green spaces designed to stimulate the five senses, and cryotherapy are becoming more popular as well.
Where do coaches fit in? As residential spaces are designed to house wellness, services will increasingly be brought in-house. This trend is heralded by the rise of medical recovery centers where people can have outpatient procedures done in their residences, offering the luxury of recovering in their own building without having to go outdoors.
Luxury Trends Now Include Coaching
Coaches can find opportunities at luxury developments like Six Senses Ibiza, which offer a range of wellness services that allow guests to repair and rebalance their bodies on a cellular level, including hyperbaric chambers, IV infusions, and cryotherapy, as well as on-site doctors and coaches, offering everything from nutrition support to hormonal consultations and advanced diagnostics. In this space, psychedelic integration and coaching is also a massive emerging arena for coaches.
While the luxury development space is flourishing, the wellness real estate trend is not confined to luxury spaces. Developers like Homz and Gravity are also investing in wellness-centric communities accessible to a broader audience.
Life coaches have a golden opportunity to develop practices that cater to these communities, offering services in relationship coaching, education, career advancement, meditation, and health.
How to Adapt to the Wellness Real Estate Trend
1. Stay Informed: Keep up with the latest developments in wellness real estate. Understanding the needs and preferences of residents in these spaces is key.
2. Expand Your Offerings: Consider how your coaching services can be tailored to fit into the wellness real estate model. This might mean focusing on aspects like stress reduction, work-life balance, or family wellness.
3. Focus on Accessibility: While luxury trends are informative, remember the demand for wellness is also growing in more accessible sectors. Think about how the ways your services can be scaled and made affordable for a wider audience.
4. Embrace Technology: Leverage technology to enhance your coaching services. Virtual consultations and digital wellness tools can complement the physical wellness environment of these spaces.
Wellness is Driving Real Estate Decisions
Kantar, a market research company, discovered that wellness has become the primary consideration for U.S. adults when making decisions about their homes. They predict that as Millennials and Gen Z consumers increase their spending power, the demand for wellness-focused home features will surge.
The intersection of wellness and real estate presents an exciting and growing field for life coaches. By understanding and adapting to these changes, you can position yourself at the forefront of this trend, meeting the needs of clients who value health and wellness as a core part of their living environment.
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