Updated: 26 Jul 2024

The wellness industry is absolutely booming right now. Some studies project the global wellness retreat market to grow to $427 billion by 2027, an annual growth rate of over 7%. The demand for self-care and holistic health fuels this growth. That’s a whole lot of people looking to get their zen on! So, if you are looking for a lucrative market for your next business idea, now is the time. Let’s discuss how to get your wellness retreat up and running.

Identifying Your Target Audience

First things first - you need to figure out who your target audience is. Are you picturing corporate groups looking to do team-building activities? Couples searching for a getaway? Retired people looking for health retreats? Or individual travelers who are all about personal growth and rejuvenation?

Knowing your target market when starting a wellness retreat is crucial. It will shape everything from the size and location of your retreat to the individual activities you offer. Researching the local market is also essential for tailoring your offerings. It will help you create a unique value proposition that resonates with your audience. 

Planning Your Retreat Activities

Yoga is a popular wellness retreat activity that helps guests unwind and reconnect with themselves.

Once you have nailed down your ideal customer, it’s time to start planning your retreat activities. Think about nature immersion, spa treatments, cooking classes, and Ayurvedic treatments—the possibilities are endless!

Just make sure you strike a balance. Your final offerings should have a balance between offering a diverse array of activities and maintaining an immersive experience for your guests. Wellness retreats are all about helping people relax. Some popular activities are yoga, meditation, and fitness classes. Who doesn’t love a good stretch and some mindfulness?  

Budget

The market, budget, and location of the retreat are also significant considerations. For example, a beachfront retreat might focus on water sports and coastal hikes, while a mountain-based retreat could emphasize forest bathing and mountain biking.

If you are starting your first retreat, you can seek the advice of a wellness expert or consultant to make these decisions. The final list should align with your brand and deliver tangible customer benefits. The key is clearly defining your ideal retreat participants' specific demographics, psychographics, and pain points.

Picking The Right Location

Your retreat location is another super important factor to consider. You'll want to find a spot that not only accommodates your planned activities but also reflects the overall ambiance and aesthetic you're going for.

Is a beachfront retreat more your style, or are you envisioning a secluded mountain oasis? Do some research on the local zoning laws and competition in the area to make sure your retreat can thrive.

Factors such as accessibility and local amenities are also equally important. An urban wellness retreat 50 miles from a major city is more likely to be profitable than one that is 200 miles from civilization. However, the same is not true for a nature immersion retreat that would likely make more money in a secluded forest.

If budget is a constraint, don’t worry. You could also consider renting a retreat venue instead of building one from the ground up. This is also a recommended strategy if you are a first time entrepreneur. Renting lets you limit your exposure and provides greater leeway to adapt. 

Here are the critical factors for an ideal retreat location:

• Serene natural setting (beaches, forests, mountains)

• Easily accessible with convenient transportation

• Variety of wellness activities (yoga, meditation, spa)

• Range of accommodation options to suit various budgets

• Immersion in local culture and cuisine

• Year-round or seasonally optimal weather

• Sense of exclusivity and privacy

• Established reputation as a wellness destination

• Cost-effective for organizers and participants

Funding Your Retreat

Starting a wellness retreat is no small investment, so you may need to get creative with your funding sources. A mix of debt financing (like business loans) to cover the physical setup and equity financing (like angel or Venture Capitalists) to support your marketing and operations can be a great solution. 

If there are hotels and resorts in the area, you could also set up a strategic partnership and offer them equity in return for investment into your project. Such a partnership could also contribute to a steady stream of customers down the line through referrals.

You could also explore government grants and tax incentives available in your local area. Additionally, consider partnering with industry influencers. Having a well-known backer can give you a head-start in the marketing area as well.

Pre-Launch Marketing and Branding

You have to start building your business's brand identity and online presence before opening its doors. Invest in a professional website that aligns with the wellness theme, set up social media channels, and start engaging your target group.

Leverage influencer partnerships, guest blogs, and pay-per-click advertising to build hype for your launch.

Social Media Buzz

You will also want to leverage Instagram, Facebook, and Pinterest account. Use these platforms to give people a behind-the-scenes look at what’s coming. Social media is powerful tool to establish your brand. Plus, retreats are very visual businesses, so utilize great imagery to sell it. 

Also, consider engaging your followers with contests, Q&As, and conversations about wellness. Creating that community before you have even opened your doors is an important step in hitting the ground running.

Influencer Marketing

When it comes to building a community, consider partnering with wellness influencers. Invite them to your retreat so they can experience it firsthand and produce genuine content for their followers. This is a fantastic way to enhance your reach and legitimize your brand.

When it comes to picking an influencer, pick one who is followed by your target audience. For example, if you are targeting the corporate clientele in the closest city, then work with someone who appeals to the founders and human resource professionals in this region. This way, even a following of 50K to 100K users can bring immense value to your brand.

A common mistake among new businesses (and not just those in the wellness retreat space) is waiting to invest in customer support channels until after the business has launched. This leaves a lot of money on the table since your pre-launch marketing activities should be bringing customers as well. Hiring an agency to handle inbound calls via call center software can help you build this pipeline with taking extra resources from your team. 

Launching and Growing Your Retreat

Opening a wellness retreat allows you to connect with others while running a business.

When your wellness retreat is ready to launch, it is time to start spreading the word and booking those spaces. You can send giveaways to your email list to get them interested in booking a spot.

If you have the budget, also consider launching a PR campaign or sponsored posts across local media in your city or community. While this not may appear to bring direct footfalls to your business, they create a snowball effect in terms of media coverage and brand recognition, and can have a lasting impact on your growth.

Partnerships

One of the key strategies to bring a recurring stream of customers is utilizing partnerships. You could sign up with yoga studios, health stores, or other businesses to create exclusive offers to customers. For instance, a yoga studio could feature flyers with exclusive deals on your wellness retreat to their guests, and in turn, you could share a percentage of your earnings with them.

Long-Term Customer Acquisition Strategies

Customer acquisition costs are going to be high when you first launch. However, you should expect them to stabilize over time. Paid acquisition campaigns like PPC advertising could increase your expenses making it difficult to offer an affordable experience. 

Marketing strategies like SEO or branding could take a lot of time to bear fruit; yet can be quite profitable in the long-term. The method is working out a sweet spot between the two acquisition channels so that you are able to bring down customer acquisition costs over time. 

Word-of-Mouth Referrals

Regardless of which marketing channels you use, they all cost money. The only way to bring down your acquisition costs to near zero is through word-of-mouth referrals. This is only possible through an obsessive focus on guest experience. 

Invest in customer satisfaction survey tools that can help you keep your ears peeled for feedback from patrons. Be attentive to reviews posted on Google or your local subreddit so that you can fix experience issues before they blow up.

At the end of the day, any business that has its ears to the ground and continues to listen to guest feedback can offer a great experience that will contribute to referrals and repeat footfalls.

Seasonality and Demand

An important thing to consider is that wellness retreats can be seasonal. There may be some seasonality to demand throughout the year. But don't get discouraged. Instead, be inventive in the offseason. Keep your off-season packages and promotions fresh. Utilize offseason rates, themed retreats, and even corporate team buildings—whatever can fill the first months of the quiet season.

Wrapping Up

With the right plan, a killer marketing strategy, and a passion for self-care, you can build a thriving business that helps people find their inner peace.

Ultimately, it is like running any other business; you must repeatedly reinvest in your wellness retreat. Continue to upgrade facilities, provide comprehensive training to staff, and tweak offerings according to customer feedback. With the right attention and care, you can build a transformational wellness retreat that will keep people coming back.

Ready to launch your own wellness retreat business? Bookinglayer is an all-in-one booking software that lets you automate retreat bookings, payments, guest communication, and more. Request a demo today.