Are you about starting a medical aesthetic clinic? If YES, here’s a complete sample aesthetic clinic business plan template & feasibility report you can use for FREE to raise money.
Okay, so we have considered all the requirements for starting an aesthetic clinic. We also took it further by analyzing and drafting a sample aesthetic clinic marketing plan template backed up by actionable guerrilla marketing ideas for aesthetic clinics. So let’s proceed to the business planning section.
Why Start an Aesthetic Clinic?
Opening a new aesthetic clinic can be an exciting endeavour, but it can also be quite challenging. When this business is started correctly, the end result is a successful clinic, but there are some very necessary business decisions to be made before you can fully reap these rewards.
The first stage of establishing a successful aesthetics clinic is to put together a good business plan. By writing your business plan, you will be able to note how much capital you need, what services and treatments you would like to offer, and what your objectives are.
A comprehensive business plan should also include clear market research into your competitors and target demographics. When it comes to setting up a medical aesthetic clinic, the associated costs can be far higher than your average startup cost, and it is important you are properly prepared for these costs.
You don’t only have to think 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.
You will also need to invest in the right technology and equipment if you want to establish a successful aesthetics clinic. 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.
You should also note that the team you hire will make your patient journey unique and special. You need to avoid scrimping on the costs of your practice manager and practitioners. It is advisable that you get the help of a highly experienced industry recruiter to ensure your team is perfect for the ethos of your business.
Also, you can employ the services of a business consultant to help build your clinic or practice; make sure that they have a solid background and track record in clinic creation and development and ask for client testimonials before you decide to engage.
A Sample Aesthetic Clinic Business Plan Template
1. Industry Overview
A report has it that the aesthetics market size was $8.6 billion in 2016 and is expected to rise to $19.4 billion by 2023, growing at a CAGR of 12.2% during the forecast period (2017-2023).
Medical aesthetics is simply a branch of scientific research which makes use of minimal invasive treatments which helps in improving a person’s physical appearance, through the use of healthcare and beauty services in combination with lasers or other energy based devices.
Note that medical aesthetics include a broad range of solutions and treatments for fine lines & wrinkles, fat reduction, stretch marks solutions, scar treatment, skin oxygenation and rejuvenation, body firming, botulinum toxin and skin tightening.
On the basis of product, this industry market is classified into injectable, topical, energy-based aesthetics, breast implants and others. According to statistics, injectable held the largest share of the medical aesthetics market in 2016, especially due to high sales of botulinum toxin.
Energy-based aesthetics is expected to grow at the fast rate during the forecast period, due to the increasing adoption of laser and radio frequency devices. While based on the end user, the market is classified into beauty clinics and centres, spas and salons, hospitals, and others.
Beauty clinics and centres were the largest end user segment in 2016, because of the increasing disposable income in several countries globally. The rise in the number of beauty clinics & centres has also been booming the medical aesthetics market.
Treatments provided by businesses in this clinic provide huge benefits than just improving the physical appearance of patients. Some of the treatments provide improved self-esteem leading to better psychological conditions of patients.
Treatments such as Botox can help to deal with the enormous sweating and migraines. When Botox is injected in the armpits of the patient, it immediately paralyses the sweat glands, leading to lesser sweat released. There have been many technological innovations and advancements that are taking place in the medical aesthetics market.
These advancements in laser provide benefits as, smaller incisions, decrease in the intensity of pain and fast recovery after a procedure. There has been a notable increase in the application of laser technology for various cosmetic treatments such as hair removal, skin rejuvenation and body contouring.
Transdermal focused ultrasound, monopolar RF, low level laser, high intensity focused ultrasound (HIFU) and cryolipolysis are some of the advancements in laser technology that are used for many aesthetics treatments. These technological advancements have made cosmetic procedures to be quicker and impactful, which is further expected to support the demand for medical aesthetics products.
2. Executive Summary
Perfect Clinic is a new aesthetics clinic in Manhattan, New York that specializes majorly in laser hair removal, then with additional services like hair replacement, electrolysis, microdermabrasion and body contouring. We provide the people of Manhattan with superior quality service in a very accessible location.
We at Perfect Clinic have put plans in place to reach our target audience and also make sure that the needs of our patients are our highest priority. Perfect Clinic provides F.D.A approved hair removal and all other services at a fraction of the cost and time of other permanent service methods.
Our services will make it easier for the people of Manhattan and New York in general to be treated quickly and effectively using the latest generation lasers. Our lasers of choice at Perfect Clinic are the GentleLASE™ Plus and Lightsheer Diode, which are both FDA approved. We believe that these lasers will provide unquestionable results that our customers can enjoy.
Because both machines have superior cooling devices, the surface of the skin is cooled while the active hair follicles are destroyed. Our clinic is easily accessible to the 8,000+ urban professionals that we at Perfect Clinic consider potential customers.
We plan to make sure our customers enjoy and love the convenience we provide. Also our business location makes it possible for even day workers in Manhattan to visit the clinic and be back at their job in less than 30 minutes. Lamar and Sydney Coker, co-owners of Perfect Clinic believe that the location is its competitive advantage.
Lamar and Sydney Coker have both managed aesthetics clinics before and they boast of over ten years’ experience between them. These professionals and founders of Perfect Clinic believe that the location will bring in the customers but only excellent customer service will be able to keep them coming back.
3. Our Products and Services
Our aim at Perfect Clinic is to offer our clients unique services that will blow their minds. We have employed professionals and experts to provide these services so as not to endanger our clients. We can boast of a unique workforce that loves their jobs and will always strive to make Perfect Clinic the number one in our selected niche. Our services and products are as follows:
- Laser hair removal
- Electrolysis: Thermolysis, Galvanic and the Blend are offered.
- Hair replacement
- Body contouring
- Skin cleansing, toning, and treatment
4. Our Mission and Vision Statement
- Our vision at Perfect Clinic is to build a highly competitive aesthetics clinic that will become the number one choice for individuals in Manhattan and New York in general.
- The mission at Perfect Clinic is to create a customer focused environment that promotes referrals and helps our clients meet their cosmetic goals.
Our Business Structure
Our major objective at Perfect Clinic is to become one of the leading aesthetic clinics in New York and as such, we understand the importance of a solid business structure. We intend to attract customers with our unique approach to service and we plan not to take them for granted. We also plan to lay emphasis on employee training.
Our plan is to establish a workforce that will work together to help Perfect Clinic achieve its projections. We at Perfect Clinic provide F.D.A approved services and our clinic will operate as a general partnership. Both Lamar and Sydney Coker will manage the daily operation of Perfect Clinic. We would need the following help;
- Managing Director
- Medical Practitioner
- Clinic attendants
- Marketing Officer
- Security Guard
5. Job Roles and Responsibilities
- In charge of a number of activities related to the delivery of medical care and clinical services such as cost management, utilization review, quality assurance, and medical protocol development
- Oversees the activities of aestheticians, including recruiting
- Attend standing meetings (board, committee, etc.)
- Monitor quality and appropriateness of medical care
- Provide guidance and leadership
- Develop policies and procedures
- Manage strategic development
- Oversee documentation and care planning
- Manage medical staffs relations and/or representation
- Address emergency issues
- Manage community relations
- Handle physician behaviour and impairment issues
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information as it relates to those who need our services
- Sources for clients for the company
- In charge of promoting the company’s image
- In charge of creating marketing and sales strategies, etc.
- Represents the organization in some strategic business meetings
- Handles any other duty as assigned by the director
- Sees to it that clients are attended to and on time
- Books clients for sessions
- Passes information to the aesthetician about clients
- Reaches out to clients when information needs to reach them
- In charge of all the body procedures
- Advises a client on the type of risks and advantages involved in procedures
- Follows up on recovery procedures
- Medically counsels clients at all times
- Carries out all services and formulas on clients
- Makes sure they are satisfied at all times
- Makes sure that all processes and therapies are body friendly
- Receives payments on behalf of the organization
- Issues receipt to customers
- Prepares financial report at the end of every working week
- Purchase supplies and equipment as authorized by management
- Monitor office supply levels and reorder as necessary
- Tag and monitor fixed assets
- Pay supplier invoices in a timely manner
- Take all reasonable discounts on supplier invoices
- Pay any debt as it becomes due for payment
- Monitor debt levels and compliance with debt covenants
- Issue invoices to customers
- Handles financial transaction on behalf of the company
- Interfaces with our bankers
- In charge of payment of tax, levies and utility bills
- Handles any other duty as assigned by the office
- Mops the floors
- Wipes down the machines
- Washes off folding tables
- Cleans the bathroom
- Empties the trash
- Washes the windows
- Ensures that the clinic is secured at all times
- Controls traffic and organize parking
- Patrols around the building on a 24 hours basis
- Submits security reports weekly
- Handles any other duty as assigned by the manager
6. SWOT Analysis
We at Perfect Clinic hired the services of a consultant to help us create a standard aesthetic clinic that can compete effectively in the super competitive industry. The hired firm and professionals had to work with Perfect Clinic management in conducting our SWOT analysis. Outlined below is a summary from the result of the SWOT analysis that was conducted for Perfect Clinic.
Our main strength at Perfect Clinic is our business location and the power of our business structure. Manhattan is a business hub of not just New York but in united states. Also Lamar and Sydney Coker have the adequate qualifications and experience in the aesthetic industry; they are the best in the industry.
According to our SWOT Analysis, it might take some time for our aesthetic clinic to break into the market and gain acceptance via reputation in the already saturated industry. This it is believed is our major weakness at Perfect Clinic.
We were able to note through extensive research that the opportunity in the vast aesthetic is unlimited. It is an industry that survives and expands through innovation. With the growing population and the growing awareness to modernization, people will always want to alter what they don’t like about themselves.
Every business has its own share of threat or challenge. The supposed threat can be external or internal. We at Perfect Clinic understand this and we have taken our time to create a substantial business plan.
Our SWOT Analysis at Perfect Clinic noted that some of the threats we will be facing will include unfavourable government policies, the appearance of a competitor within our location of operation and global economic downturn which usually affects spending purchasing power. We have made plans to curtail all possible challenges and threats.
7. MARKET ANALYSIS
- Market Trend
We at Perfect Clinic believe that advancement in laser technology, different health benefits associated with medical aesthetic procedures and shift in the preference from surgical to non-surgical procedures are some of the factors aiding the growth of the market.
Also growing awareness among consumers and growing aging population also creates a demand of aesthetics clinics in the market. We also agree that the medical aesthetics market has been facing certain threats such as societal stigmas and hindrances associated with these procedures, high treatment cost and lack of reimbursements, and cosmetic boom.
But from our detailed research, we were able to note that the proliferation of medical aesthetics market in emerging countries and increase in the popularity of home-based aesthetics devices represents substantial future opportunities for businesses in the medical aesthetics market.
Also, devices used in this industry have evolved significantly, with the top businesses in the market developing advanced aesthetic products that are less costly and safe to be used at home.
8. Our Target Market
We at Perfect Clinic even before choosing our location have conducted our feasibility studies and market survey and we have been able to describe those who will gain greatly from our service offerings. We have also made sure our marketing plan will cover all the required fields in other to reach our targeted audience.
Manhattan which is our business location is the economic engine of New York City, with its 2.3 million workers in 2007 drawn from the entire New York metropolitan area accounting for almost two-thirds of all jobs in New York City.
According to reports, the average weekly wage in Manhattan (New York County) was $2,749, representing the highest total among large counties in the United States. Also the workforce in our business location is overwhelmingly focused on white collar professions, with manufacturing nearly extinct.
Manhattan also has the highest per capita income of any county in the United States. A report in 2010 has that Manhattan’s daytime population was swelling to 3.94 million, with commuters adding a net 1.48 million people to the population, along with visitors, tourists, and commuting students.
The commuter influx of 1.61 million workers coming into Manhattan was the largest of any county or city in the country, and was more than triple the 480,000 commuters who headed into second-ranked Washington, D.C. Manhattan’s most important economic sector lies in its role as the headquarters of the U.S. financial industry, famously known as Wall Street.
The borough’s securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city’s financial sector and an important economic engine for Manhattan, accounting in 2012 for 5 percent of private sector jobs in New York City, 8.5 percent (US$3.8 billion) of the city’s tax revenue, and 22 percent of the city’s total wages, including an average salary of US$360,700.
We at Perfect Clinic have analyzed our market and chances and we believe that Manhattan is the best possible location for our business.
Our competitive advantage
One of our major objectives at Perfect Clinic is to set ourselves apart from other aesthetic clinics that may offer only one or two types of the services.
Having been industry leaders in the aesthetic industry, Lamar and Sydney Coker has realized, after much talks with their clients that they want all of the services that we are proposing at Perfect Clinic, but they remain frustrated because they not know where to get this desired services.
Perfect Clinic offers its clients distinctive services that will set us apart from what is obtainable in the industry. We know there are uncountable numbers of clinics like ours, but our area of specialization makes us an industry leader even before we open our doors for business.
We have no plan to compete with these clinics directly; we have a business niche which is not common in the industry. We hope to create an atmosphere that will be a relaxing one where our clients can sit back and expect quick and sound solutions.
Another competitive advantage we have at Perfect Clinic is our business location. Once we get our customers in, our advantage is the customer-focused environment we create. We know that each customer is a potential lead to another ten customers.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Our aim at Perfect Clinic is to satisfy our customers and also to generate substantial incomes in the industry. We plan to achieve this by leveraging all available opportunities in the industry and within the proximity of the law in the United States. Perfect Clinic will generate income by offering the following services;
- Laser hair removal
- Electrolysis: Thermolysis, Galvanic and the Blend are offered.
- Hair replacement
- Body contouring
- Skin cleansing, toning, and treatment
- Selling of beauty products
10. Sales Forecast
Perfect Clinic expects that sales will be slow for the first and second month of operation, due to our “first treatment free” promotion. After that point, sales will increase as satisfied customers refer their friends. We hope to achieve business stability by our second year and we have put plans in place to make sure we achieve that.
It is very important to note that we list no direct cost of sales here for services, only for products, since our service costs are more accurately tracked as regular monthly expenses for supplies. Accurately outlined below are the sales projection for Perfect Clinic, which is based on the location of our Clinic and of course the unique and specialized services that we will be offering;
- First Fiscal Year: $650,000
- Second Fiscal Year: $1,457,000
- Third Fiscal Year: $3,230,000
Note: This forecast was put together based on what is obtainable in the industry and with the plan that there won’t be any major setback within the period stated above. Also, there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Our marketing strategy at Perfect Clinic is very simple and straight. We strongly believe that satisfied clients are our best marketing tool and when a client leaves our business with an exceptional service, he or she is broadcasting our clinic to the public.
We believe that of our clients will be referrals from existing clients. We at Perfect Clinic have no specific advertising strategy. Our research of the industry has shown that word of mouth is the best advertising for this type of business.
Despite the research, we plan to run specials throughout the week. We hope to ask clients for referrals, and reward them with discounted or free hair or beauty products depending on the number of clients they bring. We also plan to offer discounts to the new clients who have been referred.
We also have plans for a lottery that will give a free trip to, say, Las Vegas. A client would simply refer new clients to us, and we will place a card in a box for each client he or she brings. The more they bring the more chances they have of winning the trip. Perfect Clinic will also market through the numerous New York fitness clubs, beauty salons, tanning salons and boutiques.
11. Publicity and Advertising Strategy
Advertising is a must for a business that wants to succeed and we at Perfect Clinic understand the importance of a good publicity strategy. We have created plans and are very ready to become the number one choice for the people of Manhattan and New York in general.
Perfect Clinic has made provisions for effective and direct publicity and advertisement of our aesthetic clinic. Outlined below are the platforms we hope to leverage in promoting Perfect Clinic;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events /programs
- Establish relationships with local salons throughout the target market.
- Develop ongoing relationships with doctors, counsellors and all other related professionals to refer their clients to our clinic
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
- Install our billboards in strategic locations all around Manhattan.
- Engage in roadshows from time to time in targeted neighbourhoods
- Distribute our fliers and handbills in target areas in and around Manhattan New York
- Passing general information via our clinic’s social media handles like twitter, Facebook, Google hangouts etc.
- Ensure that all our staff wear our branded coats and all our vehicles are well branded with our clinic’s logo.
12. Our Pricing Strategy
Our pricing system at Perfect Clinic is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in the city.
We also know that aesthetic clinics generally bill their clients based on location, services offering and time et al. We hope to keep our fees below the average market rate for the first three months. We have made plans to give out special discounted rates to all our clients at regular intervals.
We also understand that there are some of our prospective clients that would need special assistance, we will offer flat rate for such services that will be tailored to their needs.
- Our Payment Options
We at Perfect Clinic understand the role payment varieties play in the success of any business in the industry. That is why we hope to establish different payment options that will suit our business clients at any given time and place. We at Perfect Clinic have also made plans and partnered with a well-known banking platform in the United States of America in other to offer these services. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via mobile money
- Payment with cash
13. Startup Expenditure (Budget)
The cost of starting Perfect Clinic will depend largely on the approach and scale of the business. We plan to establish Perfect Clinic as a medium sized aesthetic clinic that will provide a comfortable location for our clients.
The materials and equipment that we plan to use when starting Perfect Clinic are almost the same cost everywhere in the country, and any difference in prices would be minimal and can be overlooked completely. Below is a detailed cost analysis of starting Perfect Clinic;
- Business incorporation fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Acquiring a large clinic (Re – Construction of the clinic inclusive) will cost – $500,000
- Equipping the clinic and office (computers, beds, medical equipment, laser machines, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $150,000
- Launching an official Website will cost – $500
- The budget for the payment of salaries for the first three months of operations: $220,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $50,000
From our detailed analysis above, we have come to the conclusion that we will need approximately $1,100,000 to start up Perfect Clinic.
Generating Start-up Capital for Perfect Clinic
Perfect Clinic was founded to satisfy the needs of the people of Manhattan and we plan to keep doing that. Perfect Clinic is a family business that will be owned and managed by Lamar Coker and his Wife Sydney Coker. This couple is the sole financier of the business for the main time.
The more reason we have chosen to restrict the sourcing of the startup capital for our aesthetic clinic to just three major sources. These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sale of their stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the start-up capital from the bank.
Note: We at Perfect Clinic were able to raise $750,000 (Personal savings $550,000 and soft loan from family members $200,000) and we are at the finishing stage of getting a loan of $350,000 from our bank. All the required papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
Perfect Clinic is an aesthetic Clinic established to expand and become a concrete leader in aesthetic medicine. Perfect Clinic has a good platform to expand into other counties and cities in the United States. We plan to only purchase medical equipment that we need and provide fast and friendly service.
We also plan to provide strict financial controls to help manage the expensive capital costs associated with starting an aesthetic clinic. We are very certain our services will be the best in the industry.
We have put together plans and trainings to ensure our business boasts of an astonishing customer service culture that will make our clients comfortable and willing to come back for more. The people of Manhattan we believe will enjoy the services we provide and without doubt share the good news to their friends and family.
We hope to establish more business branches just as our business gains adequate corporate identity needed to be known as the industry leader.
Our marketing strategies will be reviewed every year to allow us inculcate new approaches and ideas to reach our audience. Our aim is to be a profitable business starting from the very first month of our opening. Our keys to success at Perfect Clinic are the following factors listed below;
- Our Business Location, which we believe will provide accessible location for our clients
- Our Business Environment that will provide a conducive environment for our clients
- Our Business Reputation and Brand awareness which flows from our owners down to our workforce.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts : Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Leasing, renovating and equipping our clinic: Completed
- Generating part of the startup capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Clinic’s Logo: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed software applications, furniture, office equipment, electronic appliances and clinic facelift: In progress
- Creating Official Website for the Clinic: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with banks, vendors and key players in the industry: In Progress