How to make 500k Per Year with Medical Esthetics:
Right now is the best time in history to be a part of the beauty and esthetics fields, and for the first time ever, estheticians truly have a multi-million dollar opportunity. But do you know how to harness it?
What if I told you that even without being a hardcore marketer who’s on top of all the latest trends or a crazy amazing sales person, you could still, very easily build your business to be a high 6 figures earner, and you could do it multiple times over?
It all starts by having the right systems, technologies and services available. I’ll be frank, doing only traditional services (facials, nails, massage, waxing, electrolysis, etc…), you’ve got an uphill battle ahead of you. The only way you can really get past the low 100s is through volume or if you’re able to curate and tap into those super high-net-worth people who can consistently spend $4000 per facial. For most of the world those people are few and far between. If this is your case, we strongly suggest that you make the investment to get into technology and that you have a strong set of systems in place to secure client loyalty, manage staff and generate referrals. (These are also systems we can help you implement through our consulting programs).
Even with the right systems in place though, it will still feel like an uphill fight where you’re working way too hard for not enough money. Eventually labor, space or profit margins will tap you out and leave you wondering how to harness the real power of your business. Imagine having 10 clients a day, every day each paying you $100, that means you’re making a $1000 per day right? So let’s imagine you don’t close for holidays, and take no time off, then generally you’ll make $365,000/yr (in sales), not bad if you don’t mind working 5-10 hours per day, every day (with clever scheduling you could find a couple days off here and there for sure).
If this is you at this point, I really hope, you have at least 2 staff working with you. Though, they’re not free… but before that, let’s take a closer look at that sales figure, to help we’ve created this graphic that compares some of the different services available to all estheticians and spa owners:
If you click the picture, you can download the PDF worksheet so you can put in your own services and prices. We just put down some of the most common and compared them with the two that we find the most value in, IPL and Body-Sculpting. As you can see though, there are some significant differences that happen here and why even when you have the right services and systems in place if you’re going to make it big with a reasonable amount of effort. To clarify, we are not saying don’t do the other services, especially if those are the ones you love and are passionate about, we’re just asking that you be open to different possibilities. Especially if you want to make at least $500,000 per year.
By having the right technologies (and by consequence services), then you make your life (and career) much easier. Granted you might still say to yourself “But Taylor, everybody’s doing this” or “Taylor, the prices are too high and my customers won’t pay for that!” and frankly, nothing could be further from the truth. The only two real truths are:
- Your clients are getting it done somewhere else
- Or no one has educated them on what can be achieved.
But once they find out, they’ll be looking for it. If you want to learn what IPL solutions can do for you click here.
If you want to know what body-sculpting can do for you, click here.
Spa and beauty businesses not investing in newer, faster, more effective treatments will just be left behind their competitors, the biggest reason being: Profits.
IPL & Body Sculpting technology both have very low overheads per service. A lease can range from $700/mo up to about $1800/mo depending on machine and model, so really a handful of clients per month, can more than cover this. Because of the super fast treatment times (5-20 minutes on IPL and 10-45 minutes on Body-Sculpting) your labor costs are very low. Products that go along with the services are very inexpensive (some ultrasound gel & cleanser for IPL, and some specialty products for the Body-Sculpting). As a result if you’re a spa doing just nail services and you’re average sale price is the $50 as noted above, then you need to see 200 clients per month to make $10,000. With IPL, you would need roughly 13.
Out of that, the nail spa will keep around $5000 of their $10,000. The IPL spa/clinic will keep $9500.
The extra $4500 dollars the IPL spa is keeping, more than justifies even an $1800 lease and of the remaining $2700, let’s put $1500 into extra marketing for the clinic as a whole, and $1200 into the owner’s pocket. Every. Single. Month.
That means an extra $18,000 per year in marketing and an extra $14,400 per year for the owner or as retained earnings (profits). And you only had to deal with 13 clients. Instead of 200. Imagine what that would do for your business!
Again not trying to knock anybody, this is just the math. So what if you’re the nail spa seeing 200+ people per month? Girl (or Boy), move 20 of those people to your IPL after they get their nails done! It might tight for a couple of months while you ramp up, but after that, you’re clearing an extra $10/15,000 per month!
Remember the Golden rule in business, it’s not about how much something costs you, it’s about how much something can make you!
Fill in the contact form below if you’d like to be one of the most successful business owners in the new age of spa & medical esthetics!