Purchasing a new piece of equipment for your Clinic or Salon is one of the biggest decisions you can make. I know – because I’ve been buying machines for 20 years for my businesses. The risk is high, especially if the equipment is expensive and you don’t truly know if it will be a success. But there are avoidable mistakes which I see Clinic and Salon owners making time and time again. So I’ve written this short guide to help you.
The 3 biggest mistakes to avoid when buying equipment:
1. The Chanel Handbag Mentality.
So I know you’re not shopping for a Chanel handbag, but many Clinic or Salon Owners look for equipment in much the same way. What do I mean? Well they shop around for the brand with the biggest name, the biggest stand, the most expensive version they can find believing that it will be the best and will undoubtedly make them the most money.
The machine is no doubt very good, and have a good reputation. This comes with a high price – which means there’s also a high risk to your business as you need to generate enough money to pay for it.
You really need to make considerably more money than the machine costs you on a monthly basis, to actually deliver your business a profit. Otherwise what’s the point in investing in it!
Just because you have a top of the range piece of equipment doesn’t necessarily mean that it’s a good fit for your business, or that clients will start beating down your door to have it. You’ll still need to market your treatment and generate business. Clients rarely know one brand name from the next… so don’t rely on the name of the equipment to purely sell the treatment.
A good test is to get feedback from your clients. Ask all your clients for a week if they’d book the treatment you’re considering – and see how many of them have heard of it. I’ve tested this many times, and you’ll be shocked when you see for yourself.
This doesn’t mean you should not purchase a top of the range well known piece of equipment. You just need to be realistic about the finances and how you’re going to make it work for your business. You will still need to spend time, money and effort marketing it to get the clients booking and paying for it.
2. Don’t be fooled by the Treatment Price
Many business owners get taken in by the treatment price. What do I mean?
When you’re looking for a new machine, you’ll see a sheet from the supplier with a recommended price per treatment.
Some may suggest you charge £600 per session (for example HIFU). This sounds fantastic doesn’t it? However what you need to ask yourself is HOW MANY TIMES per month or year will your client want or need this treatment at £600 per session?
In the case of HIFU the answer is just ONCE per year. However, you may see a chart from suppliers which demonstrates how much you’ll make if you carry out for example 2 treatments per day.
£600 x 2 per day = £1,200 per day
£1,200 x 5 days per week = £6,000 per week! (10 treatments)
£6,000 x 52 weeks per year = £312,000 (520 treatments)
So the chart says you can make £312,000 per year. Although this is technically possible, the real life issue is you’d need 520 clients paying £600 each for this to be accurate. Do you have more than 500 clients who’d have this once a year? You’d be lucky to get 1 per week.
You need to look from a more realistic perspective. This means looking at the treatment price, and how many clients are likely to have it. Plus how many times a week / month / or year they’ll need it. Then you can work out an accurate amount it can generate your business.
What you don’t want is an expensive machine sitting there, hardly ever being used!
3. The Instagram Mirage
Aesthetic Clinic and Salon Owners up and down the country look at their competitors to see what they’re up to, often to stay on top of trends and be the best they can be.
There’s no harm in trying to stay relevant and competitive. However many become fixated on competitors, particularly through Social Media channels. It’s very easy to make any business look successful on Instagram… but often it’s a mirage!
- Just because Beauty By Belle down the road is offering Laser Hair removal for £20 per session doesn’t mean you should too.
- Just because the Aesthetic Clinic in your town says it’s booked up every day doesn’t mean it is!
- Just because they purchase the latest skin machine doesn’t mean it’s a good idea.
- Just because they present a picture of total success, doesn’t mean they’re making any money.
- In fact they could be losing money, and on the verge of closure.
The moral of the story… don’t copy or follow competitors and think that what they’re doing is to be taken notice of.
It doesn’t matter what machines they buy, or how much they charge. Very often they’ll be making every mistake in the book with a business which is losing money.
You need to focus on your own business and work out the numbers yourself.
Click here to read – ‘5 Questions You Should Ask before Buying Equipment for your business’
I hope this has helped! If you have any more questions then please feel free to email me here: rachael@comeandcopyme.co.uk