As the world recovers from COVID, it’s obvious that self-care and wellness are now the top priorities for many. The world’s consumers spend more on their health, fitness, appearance, and more. Health and fitness are here to stay, and it appears in many ways.
According to McKinsey estimates, the global wellness market is worth over $1.5 trillion and has an annual growth rate of 5-10 percent. As the demand for both mental and physical health and wellness services as wellness professionals become more popular, more professionals are starting their own companies.
“In the U.S. alone, there are over 300,000 personal trainers, over 500,000 mental health professionals, over 300,000 nail artists, and the list goes on and on,” says Omer Menashe. He is the co-founder of Persona, a management software solution for beauty, fitness, and health professionals.
“We strive to improve the self-employed businesses whose services enhance people’s lives. “We provide everything a retail bank provides, in addition to the cardinal, critical, and tailored services for these specific businesses.”
Americans created new small companies in record numbers during the COVID-19 pandemic. Based on the Census Bureau, More than 4.4 million businesses were founded across the U.S. during 2020, the highest number ever recorded. Half a million businesses were established in January all by themselves.
It is, without a doubt, the age of entrepreneurs. People are taking things into their own hands and establishing small-scale companies they expect to succeed and improve the lives of others. But they may have no idea of the challenges ahead. Self-employment is a complex process that requires many abilities and tasks, including marketing, business development, and payments to taxation, which are far beyond the standard of services offered.
Money management is even more essential when cash flows into the company; expert help can be a major game-changer. Although hiring the right consultants who can assist you in running your business may be expensive, this site offers all of these services at no cost.
“We help with payment tracking and collection, tell you how your business is doing, show you how to pay less taxes and help you save for what you do have to pay,” he adds. “By doing this, we enable wellness professionals to focus on establishing and scaling their business.”
Menashe is an expert in digital marketing with more than 20 years of experience. He is the co-founder of a top digital marketing agency. His partner Eran Artzi works as a technical expert in fintech and expert in product-to-market, and the former director of New Initiatives at ASAPP. “We’ve been experimenting with the fintech space for some time and have been focusing on development within a number of businesses. We’ve observed the growth of neobanks, and their “APIing” of financial services and have come to the realization that creating challenger banks is just the beginning of creating complete financial experiences that are tailored to the different market conditions,” says Menashe. “When Covid hit, as residents of NYC were first to experience the effects of the disease that included lockdowns and closings, as well as seeing so many of our fellow citizens being forced to reinvent themselves into self-employed professionals. This market required a suitable solutions, and that’s how these two realities collided that led us to design this platform,” the founder explains.
As they developed robust automation, the founders contacted hundreds of professionals to learn about their requirements and issues. “We discovered that the majority of them worked as freelance professionals who provided services in the mental and fitness areas. Professionals of the highest caliber they were driven to be successful, however, they didn’t take into account that they required more than just their professional expertise to achieve this and they required tools to manage their businesses efficiently.”
The company was invited to join Stripe’s Treasury private beta, which equipped the platform with cutting-edge financial capabilities and linked Stripe to its bank partner, Goldman Sachs. “Using their infrastructure, we’ve managed to realize our vision and are now coming out of the beta development phase.”
The diverse and unique community they provide is focused on wellness, and this platform is designed to give them another kind of health and peace of mind. According to the platform’s founders, this platform can also help make it easier for everyone to participate since it is also motivated by equality.
“The community that we serve did not have robust banking solutions and were also left behind when it came to getting rewards, cashback and other perks. We make sure they enjoy equal services, including payment Collection, scheduling, an online personalized purchase store, expense management that allows visibility, tax service, FDIC Insurance, all in one.”
“Risk,” said Warren Buffet, “comes from not knowing what you’re doing.” In a rapidly expanding sector, the demand to perform better than ever before and finding solutions for problems and challenges could make all the difference.