# Cash is king, could Cheque be right?
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-02-07
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: The Importance of Cash in a Digital Economy
Meta Description: Discover why cash is vital for inclusivity, growth and security in the face of the rush towards digital payment methods. Learn more from Peter Thomas, Managing
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URL: https://financedigest.com/cash-is-king-could-cheque-be-righthtml

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With more and more wellness businesses popping up around the country, and consumers’ interest in health and wellbeing on the rise, it’s vital that business owners ensure they are doing everything they can to meet customer’s ever-changing needs and stand out amongst the competition.

So, what makes a successful wellness business?

MINDBODY, a business management software solution which allows health and wellness owners to manage and grow their businesses, has asked its customers to share their top tips for how to run a successful wellness company in 2018.

**Provide more choice and more fun**

“Fitness is no longer a ‘must do’ activity but a lifestyle choice, which is why as a wellness business you have to provide more choice and alternative fun ways to integrate physical activity into members’ lives. The key to differentiation is building a community – a tribe of loyal, like-minded individuals who want to belong to an aspiring and healthy place, where they can do a lot more than just running on a treadmill” said OliaSardarova, CEO at BXR London.

**Make it social**

“Fitness should be sociable, and an overall experience for the consumer” advises Zoe Bertali, co-founder at The Refinery E9. She explains: “The social side of fitness has always been something really important to us, as the coldness of just pumping iron has us coming out in hives!  People are no longer looking for just a workout, they want an experience at the same time.

“You come away from Disco Barre or RUSH HIIT feeling like you’ve had an hour in a nightclub! Our [classes are kept purposely small which encourages people to get to know](https://www.financedigest.com/must-know-facts-about-the-protection-class-rating-on-your-home.html "Must-Know Facts about the Protection Class Rating on Your Home") one another and find camaraderie in their shared experience.  Who wouldn’t want to mix exercise and pleasure if they could?“

**Develop a highly customised, experience focused offering**

“Wellness has become highly customised and experience-focused, and consumers are willing to pay for a high-end experience. There are so many different experiences available in metropolitan areas, with even some fringe experiences that everyone should try at least once (e.g. fitness training while wearing electro-stimulation vests or pop-up, [inflatable hot](https://www.financedigest.com/hot-u-s-inflation-data-reignites-global-selloff.html "Hot U.S. inflation data reignites global selloff") yoga pods).

“Consumers can pick and choose exactly what experience they want for that day. And they are paying a lot more for it than they may have done in the past. An important shift in [consumer behaviour](https://www.financedigest.com/from-in-store-to-online-how-the-pandemic-affected-consumer-behaviour.html "From in Store to Online: How the Pandemic affected Consumer Behaviour"), which our customers are now wrapping their heads around – is realising they need to partner with what historically they may have seen as competition. Yoga studios should be partnering with spin studios, and CrossFit with massage therapists. We have been trying to shape our software to support this type of marketplace, which curates the full suite of wellness experiences.” Kevin Teague, SVP and Managing Director, MINDBODY EMEA.

**Find your passion**

Catie Miller, co-founder at Xtend Barre London said: “Find your passion! When I opened Xtend Barre I was prepared to become it. Building a brand means you have to eat, sleep and breathe that energy. Expect to put other things in your life on hold for a couple of years; your [business will be your baby and it is important](https://www.financedigest.com/importance-of-transparency-and-connections-in-business.html "Importance of Transparency and Connections in Business") to nurture it in the critical beginning stage. All the [hard work](https://www.financedigest.com/how-does-hard-money-lending-work.html "How Does Hard Money Lending Work?") and sacrifices that you make now will pay off later.”

**Build a community**

Catie’s other tip is to build a face-to-face community. She said: “For me, this was one of the main priorities when opening up a [boutique fitness studio in the heart of London](https://www.financedigest.com/how-to-grow-your-luxury-boutique-brand-online-james-sanders-london-diamonds.html "How to grow your luxury boutique brand online – James Sanders London Diamonds"). It is all very well to have a fancy Instagram page but building a face-to-face relationship with your actual guests will breed a deeper sense of connection and success.

“Most of us are time-poor so when we commit to an exercise class or a fitness membership we are looking for results, personal connections and fun. This is what builds consistency in training and keeps your business thriving year on year.”

**Find the most [talented and passionate people in the industry](https://www.financedigest.com/encouraging-female-talent-and-entrepreneurship-in-the-supply-chain-industry.html "Encouraging female talent and entrepreneurship in the supply chain industry")**

Sophie Clyde-Smith, career manager at Welltodo believes it’s all about [growing your team](https://www.financedigest.com/the-digital-voice-adtech-pr-agency-grows-team-by-eight.html "The Digital Voice Adtech PR Agency Grows Team By Eight") with the right people: “Finding a talented and passionate team is one of the most important elements.

“Welltodo is currently the only company in wellness providing an industry-specific jobs board – a platform that allows you to instantly tap into a vast and global audience. So, if your company anticipates growth in 2018, our top tip is to partner and collaborate with experts in the industry who understand wellness and the people in it, they can help you do the same.”

**Choose the right software**

“While technology should never replace the personal experience that consumers demand, it can certainly help to enhance it.  Choose a software that empowers you with advanced tools that help effectively manage and grow your business –  from online booking to payments, marketing and customised reports that help you focus your efforts. By using your software to streamline these tasks you will have more time to engage with clients in a meaningful way – keeping them coming back time and time again” added Kevin Teague, SVP and Managing Director, MINDBODY EMEA.

For more information about MINDBODY, please visit: [https://uk.mindbodyonline.com/](https://uk.mindbodyonline.com/)


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