At Clinic Creators, we understand that opening a new aesthetic practice can be extremely exciting, but also very challenging when coupled with today’s ever-growing and dynamic medical aesthetics industry. When established correctly, the end results of a successful clinic can be highly rewarding, however, there are some crucial business decisions to be made and implemented before you can fully reap these rewards.
This is where Hannah Potter and Clinic Creators can really help you. To assist you initially, we have put together a list of common errors and setbacks to avoid, that are often encountered by new aesthetic clinic owners and entrepreneurs:
You would probably be surprised at how many leading clinicians and entrepreneurs dismiss the importance of the initial planning stages. From business brand identity to financial arrangements, in order to develop a successful medical aesthetics practice, it’s essential to create an in-depth business plan. Before you start any processes at all, you need to know how much capital you really have to work with, what services and treatments you would like to offer, and what your clear objectives are. A comprehensive business plan should also include clear market research into your competitors and target demographics, and should be a long-term strategy, with key milestones to work towards and achieve along the way.
Most businesses face the challenge of accurately assessing how much capital they will require before their concept is launched. When it comes to setting up medical aesthetic clinics, the associated costs can be far higher than your average start-up, and it is crucial that you are properly prepared for the realistic costs that will be incurred when establishing your practice. You need to think not only about the cost of renting or buying property, but also staffing and equipment, insurances, taxes and legal costs, operational and medical supplies and marketing & PR costs. A lack of capital or an underestimated budget can cause significant stresses and setbacks as you move forward.
When starting a clinic, you need to make sure you are investing in the right technology and equipment to support your team. Ideally choose a cloud-based, ‘all-in-one’ practice management software and do thorough research into all available medical devices before making any quick decisions – they need to be right for you and right for what you want to offer your patients.
We can’t stress enough how important this point is! Your team is what makes your patient journey unique and special and what helps to deliver the results and services that you strive to provide. Avoid scrimping on the costs of your practice manager and practitioners, and unless you are extremely well connected, we would always advise that you get the help of a highly experienced industry recruiter to ensure your team is perfect for the project and ethos of your business. Remember too that just because your medical secretary may have been with you for years, they won’t necessariliy have the skills and experience required to run a business and manage other staff; this is a very specific skillset and can directly impact on whether or not your business is succesful.
If you are working with a business consultant to help build your clinic or practice, ensure that they have a solid background and track record in clinic creation and development and ask for client testimonials before you decide to engage. There are many who are happy to give advice, but its essential that they have got the hands on experience in order to deliver succssefully.
Finally, ensure that you don’t “wing it”. You’re opening a clinic, and have a duty to your clients to ensure that their treatment and entire patient journey is thoroughly planned and executed, with their safety and care at the forefront at all times. Unplanned budgets won’t appear from nowhere, so your capital and financial planning needs to be on point from the outset to avoid serious issues in the future.
If you are considering opening an aesthetic clinic, Clinic Creators can help you to tackle these initial “set-up” challenges and ensure the success and longevity of your business! For more information, contact us today.