Although the aesthetic medicine market size is expected to grow more than 11% CAGR within the next 5 years (www.gminsights.com), spending R1million on an aesthetic device is easier said than done.
Here are our 8 tips to follow when choosing an aesthetic device for your practice or clinic.
Before investing in a device, know your audience and their needs. This includes age, gender, LSM group/paying capacities and geography. This affects the type of machines you are in search of.
For example, a clinic based in a location near a university with students, would rather consider a laser hair removal machine instead of a CO2 laser.
More often than not, the level of technology or risk involved with aesthetic equipment demands a certain qualification before one can acquire the device.
Therapists may qualify to handle certain devices, doctors may qualify to handle certain devices and surgeons may qualify to handle certain devices.
For example, the minimally invasive body contouring procedure, BodyTite, requires the knowledge of a plastic surgeon.
Therefor do your homework on each machine’s requirements before getting too excited.
Like with any other business, it remains a good idea to do research on your competitors – especially within your area. If another clinic or practice within a close proximity owns a device that you were thinking of acquiring, it doesn’t mean you should cancel your plans. Just make sure there are enough patients that would want the treatment. The secret lies with supply and demand. Two big fish in a small pond will starve.
Knowledge is KING
To avoid being the second, third or fifth supplier of a treatment in the market, keep your eyes and ears open. Do research on what is trending internationally, attend a webinar every once in a while, and read clinical trials. The chances that South Africa will adapt sooner or later, is good.
Keep an eye on our social media pages, as we share the latest technology in the industry.
Any business has an image (look and feel) perceived by the outside world. Consider what your image and service offering is and make sure the aesthetic machine you have in mind enhances that image.
The opposite is also possible: if you would like to use the offering of the device to change consumers perception of your clinic, go for it.
For example, converting your beauty salon into an ‘Aesthetic Centre’ by teaming up with a doctor and investing in aesthetic equipment.
Depending on the structure of your practice, a wise consideration would be to invest in an aesthetic device that would escalate the sales of your current offerings.
For example, if you are currently offering microneedling (like the SkinPen device) you can combine Lumecca (an IPL device) treatments along with it, to increase sales for your business and results for your patients.
The big ‘B’-word feared by many, but not to worry. The first step is to list all of the costs of the devices you are considering, to avoid hidden costs down the line. This includes: shipping, consumables, parts, warranty etc. Any distributor that is worth their salt, would discuss this with you upfront.
To make this mountain a molehill, Sternlaser has structured a ROI sheet for all our aesthetic machines to show potential clients exactly what their earning potential could be.
So, you have finally found the perfect fit for your practice, but now you need the knowledge to do the treatment. Prior to investing in new equipment, make sure in-person training can be provided to you and your workforce.
We understand more than anyone that we are experiencing economically stressful times, but just remember that during war people buy lipstick.
If you have any questions or would like advice on your practice, we would be more than delighted to assist.