|
Poor Folk Marketing.com
|
marketing iedas internet marketing online marketing offline marketing | |
|
Featured Business, Start a Personalized Candy Wrapper Business: Wrapcandy.com |
|
|
| |
| |
| Home | Small Business Information | Pay Per Click Advertising | Affiliate Revenue | Web Promotion | |
|
|
|
6 Steps to a Successful Medical Spa Expansion
According to the American Society for Aesthetic Plastic Surgery, since 1997, nonsurgical procedures have increased by 471 percent. Jeff Russell, CEO of MedSpa Financing, comments "Medical Spas are a natural progression of medical practice expansion, having a medical doctor run them gives them the credibility and public confidence needed for their success." Before you jump into the Medical Spa industry; keep the following 6 steps in mind: 1. Start with a Road Map A business plan is critical for business success, and it is especially important when starting a Medical Spa. Not only is it necessary if you are going to require financing, but it will act as a blueprint for building a successful MedSpa practice. You should have a clear strategy of what services, procedures and products you will offer. Don't try to be everything to everyone. A Medical Spa typically combines medical and aesthetic procedures along with complementary skin care products. 2. Know your Financing Options Do not underestimate the costs associated with opening a Medical Spa. Are you simply adding hair removal equipment to your existing location or building a new facility? You will need to carefully consider your financing options - this will often be reality check time. You will have a number of options, including: leasing, working capital, and/or finance loans. Equipment leasing is the best way to go if you want to pay for your equipment as you use it, while preserving your capital and bank lines. Under-capitalization is one of the main reasons businesses fail; make sure you are prepared. 3. Product, Equipment, Service By completing your business plan, you will have a clear idea of how many treatment rooms you will need. Don't forget about calculating the amount of retail space you will also need to support the MediSpa. When choosing your skin care products, choose the ones you really believe in. Otherwise, you are really missing a huge profit opportunity. You may even want to go private label. 4. Location, Location, Location By now, you know your target customer, the next step is to be where they are. You should have good traffic flow and be in an area with sufficient commercial and residential density. 5. Building your Dream Team Since you will not want to be tied down to the day to day operations of the MedSpa, you will need to choose a MedSpa Director very carefully. This person needs to have exceptional customer service values, and be talented enough to choose and develop the right team for your MedSpa. 6. Marketing and Promotion First of all you need to let all your current patients know about your new Medical Spa, but do not think this is enough! You will need to have a comprehensive marketing plan prior to your grand opening. You may want to offer free informational sessions on popular topics (i.e. wellness) or a special promotional treatment package. In summary, Russell commented, "Do not underestimate the time, skills, or money needed to open and operate a MedSpa." According to Dunn and Bradstreet, 96 percent of businesses in America that fail, fail because of what is called managerial incompetence. "If you do not have the business skills or time; you must hire someone who does, or use experienced Medical Spa consultants," Russell says. Jeff Russell is the President and CEO of the Oakridge Financial Group, which includes the healthcare financing divisions: Oakridge Healthcare and MedSpa Financing. MedSpa Financing specializes in providing turn-key financing options for doctors wishing to expand their practice with a Medical Spa. Jeff Russell has over 18 years finance and hospitality experience working for world class organizations, including: Fairmont Hotels, Club Med, and the Allianz Group. MedSpa Financing is a member of the International Medical Spa Association. For more information please visit our website: http://www.medspafinancing.com, call 1-800-485-5759, or jeff@medspafinancing.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Excuses Franchisees Make; When They Violate Exclusive Territory Agreements One of the biggest excuses franchisees of home based and serviced based franchises make when violating their exclusive franchise agreement with their franchisor and fellow franchisees is: My Family Works There. As a franchisor, I cannot believe how many times neighboring franchisees steal each others clientele or work outside their exclusive franchise area. We Know Who THEY Are Am I the only one that does not have an "A" button on my computer? I have looked on the keyboard, monitor and hard drive I can not find that darn thing anywhere. Nobody will tell me where it is. Sex Up Your Business Growth A top executive called up me late in the night. He was still awake at 3 o'clock. Pressure Washing Aircraft Hangers at the Airport If you are looking for a way to own your own business using a pressure washer or expand your current pressure washing business you might consider cleaning Aircraft Hangers out at the airport. Why Wash Aircraft hangers? For one it can lead to much more work cleaning all sorts of things at airports which is an encapsulated market. Arranging Your Fundraiser When deciding to host a fundraiser for your company or organization there are many fundraising ideas available to you for choosing. The most popular fundraising ideas range from chocolate, magazines and candles to candy and much more!When picking your fundraising product be sure to pick a product that will have a good mark up and will be an easy sell. The Franchisors Heavy Load Why are we over regulation the franchising industry, what purpose does it serve? Rules and laws are fine, level playing fields are nice, but the customer votes with their dollar and the entrepreneur and companies can only sell what people are willing to give up that unit of trade we call a dollar for.The FTC, Federal Trade Commission is going to pile on more regulation and minutia to the rules of franchising, but what purpose does it serve? The free market should decide and the right to free contract will determine which businesses succeed and which fail. Market Makers Play a Significant Role in Reverse Mergers One overlooked individual in the process of taking a company public through reverse merger is the market maker. The market marker is critical especially if the company is going to be listed on OTC Bulletin Board or the NQB. Expanding your business. Are you a small business owner who wants to expand your business? Do you need to add another professional location to your company to test and explore a new market? Does a prospect of spending thousands of dollars to find a right location, sign a new long term office lease, purchase or lease office equipment and hire new employees holding you back?Virtual office center may be the answer for you! The concept of virtual office is not new but with advancements in latest internet/communication technologies, the idea of virtual office has become far more appealing for a wide range of businesses. The reason for that is a marriage between computers, internet and telephone systems. Finance Your Small Business: So Much Money, So Little Time $37.4 million funded from venture capital today. Do You Make These 7 Deadly Cash Flow Mistakes? Managing cash flow is every small business owner's most important function. Avoid these seven deadly mistakes to make sure you aren't creating cash flow problems in your business. Not Listening Can Hurt Your Small Business Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they're talking about. How to Write a Credit Policy for Your Business The book, "Become the Squeaky Wheel," by New Hampshire author Michelle Dunn, says the different ways people use and extend credit makes or breaks your credit policy and bottom line, which could result in less or more sales and money for your business."Business owners all have different types of businesses but can all extend credit," explains Michelle Dunn. How to Profile a Client At first glance, this topic may seem a little repetitive, but you will find that although you have done homework before getting a contract and already know a fair amount about your client, you, however, do not know everything that is pertinent to the job. Once you have the project underway you will be adding to your knowledge of the client. More Business Card Uses Why would you use an event pass?Event passes are often used as giveaways to entice people to attend some event. You will find that most time-share companies will have passes to be used to attend their spiel, plus they also give away other goodies. Creating a Power Plan Part of the power plan is making sure you have all the necessary contact information within a company. It is one thing to have the CEO's information, as he is the decision-maker, but it is quite another to have the information on others that you may be working with directly. Using Technology to Manage Customer Loyalty Don't let your customer satisfaction research initiative collect dust on a shelf. Integrate technology with research to optimize the use of customer information. 11 Things Small Business Owners Can Learn From Rudy Giuliani 1. Leadership Is Learned - While many people appear to have an innate ability to lead, most learn from their life and business experiences, then put these lessons into practice. 11 MONSTROUS Small Business Marketing Mistakes and How To Avoid Them Increase your profit potential by identifying - and avoiding - these 11 marketing mistakes.MONSTROUS Marketing Mistake Number 1: Sinking a Fortune Into an Unproven ProductIs your business idea built on market research or a hunch?Entrepreneurs often fall in love with their products or services before they determine if there's a real market, and they throw fistfuls of money into the venture. The Truth About Government Grants for Your Business Free money! Receive up to $25,000 that never has to be paid back -- Guaranteed! Get a grant to start your own business today!If you're a small business owner, or you've always dreamed of starting your own business, you've probably run across ads like these. Companies that "guarantee" you'll get a grant to start your own business that never has to be paid back. Small Business Debt Collection Laws In your small business debt collection laws will eventually become important, as your debt grows and some clients do not pay. To collect small business debts legally, you must send a written notice that collections have begun, within five days of first contacting the debtor for collections.
|
| home | site map |
| PoorFolkMarketing © 2007 |
